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Investor profile

ZhenFund

Venture capital firm · Beijing, China · Founded 2011 · Active in 2026

← Power Law Ranking

A public taster of the full Dealroom platform — request a demo to explore live deal flow, full investor history, and team intel. · Last updated 15 Apr 2026 · Methodology

32 Power Law outcomes Power Law Ranking #59 · 32 Power Law outcomes · Active 2026
Enterprise value ↑ 24% 5y
$86B
Unicorns ↑ 21% 5y
29
Decacorns → 5y
1
Thoroughbreds ↑ 25% 5y
30
Featured in #59Power Law Investor Ranking · Global · 2026 Top 1%by Seed → $100M+ revenue outcomes

ZhenFund is a venture capital firm based in Beijing, China, founded in 2011. The page below shows 32 Power Law outcomes from ZhenFund's portfolio — 29 unicorns ($1B+ valuation) and 1 additional thoroughbreds (companies that crossed $100M+ in revenue without yet reaching $1B+ valuation).

Outcomes are concentrated in AI · Transportation · Edtech; top portfolio geographies are China · USA · Singapore. ZhenFund ranks #59 globally in the 2026 Dealroom Power Law Ranking by Seed → $100M+ revenue companies.

Portfolio analysis

The 32 ZhenFund Power Law outcomes ($100M+ revenue and above).

Snapshot of where the outcomes are concentrated by country, sector, and stage entered.

By countryCount
  1. China23
  2. USA6
  3. Singapore2
  4. Hong Kong1
By sectorCount
  1. AI7
  2. Transportation7
  3. Edtech4
  4. Other B2B Software3
  5. Cybersecurity3
  6. eCommerce & Marketplaces2
  7. Other2
  8. Health Tech & Medtech1
  9. Biotech & Life Sciences1
  10. Fintech1
  11. Marketing1
By stage enteredCount
  1. Series B+4
  2. Series A10
  3. Seed15
01 · Portfolio market map

ZhenFund's 32 Power Law outcomes.

Toggle between a sector landscape and a world map. Both views respond to the stage and outcome-tier filters. The faded names at the bottom of bigger boxes are part of the full list — click "+ N more" to reveal them.

Stage entered
Outcome tier
Region
Group by
32 of 32 Power Law outcomes
Logos hosted by Dealroom; click any chip to open the company in app.dealroom.co. The dot inside each chip shows the company's highest tier — red Gigacorn, violet Centicorn/Decacorn, lavender Unicorn, blue Thoroughbred, green Colt. Tiers are inclusive: a Unicorn (e.g. Klarna) also matches the Thoroughbred filter, a Decacorn also matches Unicorn and Thoroughbred, and so on up the ladder. Colt is a separate axis (high-growth, smaller revenue) and only matches itself. Map dots use the same colour code; hover for details. Sectors are mutually exclusive (priority-ordered classification). Stage entered = the round ZhenFund first invested in (where data is available — coverage 93%).
02 · Origin of portfolio founders

Where ZhenFund's founders come from — and where they study.

78 founders across the 32 Power Law outcomes — split by country of origin, university attended, and the company they worked at before founding. Tsinghua University and Microsoft are the deepest single pipelines.

LocationCount
China52
New Zealand3
Japan1
Canada1
View on app →
UniversityCount
Tsinghua University7
Peking University5
Fudan University4
University of Science and Technology of China3
The Chinese University of Hong Kong2
University of Otago2
University of Waterloo2
Zhejiang University2
Cheung Kong Graduate School of Business2
Tongji University2
+26 more →
Origin companyCount
Microsoft6
Baidu5
Amazon3
Kik3
SAP2
Juniper Networks1
Dianping1
Alphabet | Google1
Uber1
Alibaba1
+6 more →
Origin = country a founder is born in or grew up in (founders may have multiple origins; counts include all entries). University = highest-listed degree. Origin company = a previous employer where the founder was tagged before starting their current company. Explore the full Sequoia infographic on Thoroughbreds & Unicorns →
03 · Key people

Key people at ZhenFund.

Senior investment team at ZhenFund has not been published on this profile yet.
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No partner roster has been published on this profile yet.
04 · Compare with peers

How does ZhenFund stack up?

ZhenFund in orange, your selection in blue and other colours. Pick from the global roster of 35 peer investors — filter by region or hit "Find similar shapes" to auto-pick the three closest. The funnel matrix mirrors the spider chart on the ranking page; the line chart shows each firm's share of global unicorns minted that year — peaks reveal vintage years.

Compare against

Stage focus

Companies by entry stage and outcome tier

Sector focus

Companies per investor across the 10 highest-volume sectors

Share of new unicorns per year

% of all global unicorns minted that year, year by year
Source: Dealroom Power Law dataset. Investors shown are the 2026 Power Law top 35 by combined entry-to-outcome score, drawn from the overview and locations_data sheets. Funnel-matrix axes rescale per-axis using the maximum among the currently selected investors, so the polygons always fill the chart for shape comparison.

Want the full picture on ZhenFund?

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Data as of 15 Apr 2026 · Source: Dealroom Power Law dataset · Methodology
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