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    Yunfeng Capital

    Shanghai, ChinaFounded 2010
    www.yfcapital.comLinkedIn
    E-Commerce & MarketplaceMedia & EntertainmentEnterprise SoftwareHealthcareConsumer

    Yunfeng Capital (YF Capital) is a Shanghai-based private equity firm founded in 2010 by Jack Ma and David Yu. The firm focuses on growth-stage investments across technology, healthcare, consumer, and industrial sectors in Greater China.

    Average disclosed round size is $228.1M (across 32 rounds with reported amounts).

    Find people at Yunfeng Capital on Goldilocks AI

    Portfolio

    35

    Fund Size

    $2.5B

    Top Stage

    Series B

    Last 12 Mo

    0

    Team

    AZ

    Allan Zhu

    Managing Director

    FL

    Frank Li

    Former Managing Director

    FS

    Frank Sun

    Managing Director | Healthcare

    DY

    David Yu

    Partner

    JM

    Jack Ma

    Partner

    JX

    Jessica Xia

    Partner

    MW

    Martin Wang

    Associate

    SD

    Sam Dai

    Asset Management Intern

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    45 investments
    CompanyRoundAmountDate
    NewMed logoNewMedUnknown$100MJan 2026
    Cutia Therapeutics logoCutia TherapeuticsUnknown$59MJun 2023
    CCutiaIpo$59MJan 2023
    Sironax logoSironaxSeries B$200MAug 2022
    Sironax logoSironaxSeries B$200MAug 2022
    AxBio logoAxBioSeries B$100MJun 2022
    HHT AeroSeries A—Oct 2021
    AAbogenSeries C$700MAug 2021
    AAbogen BiosciencesSeries C$700MAug 2021
    Blokees logoBlokeesSeries B—May 2021
    NewMed logoNewMedUnknown$100MMar 2021
    HHT AeroGrowth—Jan 2021
    Accutar Biotech logoAccutar BiotechUnknown$100MJan 2021
    YYikon GenomicsUnknown$38.7MJan 2021
    XXpeng AerohtSeries A$500MJan 2021
    Qiniu logoQiniuSeries F$100MJan 2021
    Qcraft logoQcraftSeries A$100MJan 2021
    ZKH logoZKHSeries E$315MOct 2020
    YYunxuetangSeries D$100MJan 2020
    GemPharmatech logoGemPharmatechSeries B$58.6MJan 2020
    LLeyan TechnologiesSeries B$21.1MJan 2020
    XXunce TechnologySeries B—Jan 2020
    TAIMEI logoTAIMEISeries E$176.7MJan 2020
    Duobaoyu logoDuobaoyuSeries B—Jan 2019
    Xiaozhu logoXiaozhuUnknown$300MOct 2018
    Page 1 of 2

    Top Co-Investors

    Sequoia Capital7 shared
    GL Ventures7 shared
    IDG Capital7 shared
    5Y Capital7 shared
    HongShan7 shared
    Temasek Holdings (Private) Limited6 shared
    Hillhouse Investment5 shared
    Gaorong Capital5 shared
    Alibaba Group Holding Ltd.5 shared
    GGV Capital4 shared
    Boyu Capital4 shared
    Legend Capital4 shared
    CDH Investments4 shared
    Primavera Capital Group4 shared
    Sky9 Capital4 shared
    SIG Asia Investment4 shared
    XPeng3 shared
    Tencent Investment3 shared
    WuXi Healthcare Ventures3 shared
    ARCH Venture Partners3 shared

    Last updated: 7 October 2026