Legend Star is the early-stage investment and incubation arm of Legend Holdings, founded in 2008 in Beijing. It provides 'early investment + in-depth incubation' services to entrepreneurs, focusing on cutting-edge technology, healthcare, and TMT sectors, and its latest (fifth) RMB fund closed at over RMB 900 million (~$123M).
Average disclosed round size is $58.9M (across 35 rounds with reported amounts).
Portfolio
32
Fund Size
—
Top Stage
Series A
Last 12 Mo
0
Team
MW
Mingyao Wang
Managing Partner
WM
Wang Mingxiao
President / Managing Partner
LG
Lu Gang
Partner
NM
Ning Min
Chairman
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
49 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Arnatar | Series A | $52M | Aug 2025 |
 VelaVigo | Seed | $60M | Jul 2025 |
| LLanxiao Aviation | Seed | — | Jan 2025 |
 Arnatar Therapeutics | Series A | $52M | Dec 2024 |
| VelaVigo | Unknown | $50M | Jan 2024 |
| Arnatar | Series A | $52M | Jan 2024 |
 Ripcord | Series B | $35M | Oct 2023 |
| LLanxiang Zhilian | Series A | — | Jan 2022 |
 Hai Robotics | Series D | $200M | Sep 2021 |
 Adlai Nortye | Series D | $100M | Jul 2021 |
 Exegenesis Bio | Series B | $50M | Jun 2021 |
 HiFiBiO Therapeutics | Series D | $75M | Jun 2021 |
| RRgenta | Seed | — | May 2021 |
 Ehome Health | Series B | $10M | Mar 2021 |
| VelaVigo | Seed | $50M | Jan 2021 |
| Ehome Health | Series B | $10M | Jan 2021 |
| Hai Robotics | Series C | $200M | Jan 2021 |
 Merico | Seed | $4.1M | Aug 2020 |
 KINTOR | Unknown | $240M | May 2020 |
 DataGrand | Series C | $92M | May 2020 |
| Exegenesis Bio | Series A | $10M | Jan 2019 |
 Pony.ai | Series A | $112M | Jan 2018 |
| HiFiBiO Therapeutics | Series B | $37.5M | Jan 2018 |
| YYunding Technology | Series C | $40M | Jan 2018 |
 Insgeek | Series A | — | Jan 2018 |
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Top Co-Investors
Sequoia Capital10 shared
HongShan8 shared
LYFE Capital8 shared
B Capital6 shared
Legend Capital4 shared
LAV4 shared
Northern Light Venture Capital4 shared
IDG Capital3 shared
3E Bioventures Capital3 shared
F-Prime Capital3 shared
Eight Roads3 shared
Gaorong Capital3 shared
K2VC3 shared
Shunwei Capital2 shared
Further Ventures2 shared
Baidu Ventures2 shared
Gilead Sciences2 shared
Lake Bleu Capital2 shared
Shenzhen Capital Group2 shared
Last updated: 20 October 2026