DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
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Firms / L• M••••••••• ••••••••• L••••••
L• M••••••••• ••••••••• L••••••
Institutional venture firmHong Kongl•••••••••.c••.cnSEC venture capital fund adviserpart of L••••• C••••••
One of 2 advisers that share l•••••••••.c••.cn; the firm is L••••• C••••••. L••••• C••••••. Each keeps its own CRD, funds and filings; the grouping is the website each swore to on Form ADV and is recomputed every pass.
venture manager, reported GAV $809M across 5 vehicles
Importance
32
moderate
Active deployment
0
low
Emerging
0
low
Completeness
50
elevated
Freshness
96
high
Research priority
8
low
Identity and regulatory footprint
- Headquarters
- Hong Kong, Chinaadviserinfo.sec.gov
- Office address
- OFFICE 6113, THE CENTER 99 QUEEN'S ROAD CENTRAL, CENTRAL, HONG KONG, Hong Kong, 00000adviserinfo.sec.gov
- Business phone
- +852 28512800adviserinfo.sec.gov
- Website
- l•••••••••.c••.cn
- SEC adviser type
- exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- Mar 29, 2024
- Private funds reported
- 5 (5 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $809Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- T•••••• J•••••• J••••• I••••••••• M••••••••• P••••••••• E••••••••• ••••••• P••••••••• (L•••••• Partner), C; T•••••• H••••• N••• I••••••••• M••••••••• P••••••••• E••••••••• ••••••• P••••••••• (L•••••• Partner), D; B•••••• J•••• J••••• B••••••• M••••••••• L•••••• (General Partner), F; L••••• C•••••• C••• L••• (Shareholder), E; U•••• S••••• H••••••• L•••••• (Shareholder), E; B•••••• J••••••• H•••••• I••••••••• M••••••••• P••••••••• E••••••••• ••••••• P••••••••• (Shareholder), F
- business phone
- +852 28512800adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
- Sectors
- not stated or not yet read
- Stages
- not stated or not yet read
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors: no observed deals yet
lead rate n/afollow-on rate n/anew logos, 12 months 0
Funds and vehicles
5 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| L• H••••••••• F••• I••• L••• | Fund | 2021 form d first sale | Mature | $196M Mar 29, 2024 | 21 | $187M | Nov 9, 2022 |
| L• H••••••••• F••• I•• L••• | Fund | unknown | Unknown | $391M Mar 29, 2024 | 21 | $0 | Jan 31, 2019 |
| L• F••• I•• L••• | Fund | unknown | Unknown | $159M Mar 29, 2024 | 16 | $0 | Aug 24, 2022 |
| L• H••••••••• S•• F••• I• L••• | Fund | unknown | Unknown | $49.4M Mar 29, 2024 | 8 | $0 | Apr 19, 2023 |
| L• S•••••• I• L•••••• P••••••••• F••• | Fund | unknown | Unknown | $13.6M Mar 29, 2024 | 21 | unknown | unknown |
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
10 current, 0 departed
H•• C•••
PartnerShareholder · since Aug 1, 2013
L•••• Z••
PartnerL•••••• Partner · since Sep 1, 2015
H•• O•••••
Platform and operationsGeneral Legal Counsel · since Apr 1, 2020
E••••••• W•••
PrincipalDirector · since Jul 1, 2015
H•• O•••••
PrincipalDirector · since May 1, 2021
J•••••• L•
PrincipalDirector · since May 1, 2021
P••• L•
PrincipalDirector · since May 1, 2021
P••• V••• W•••
PrincipalDirector · since Apr 1, 2020
P••• V••• W•••
PrincipalDirector · since Apr 1, 2020
W••• C•••
PrincipalDirector · since Jul 1, 2015
Investments on record
0 edges, 0 companies, 0 partner-attributed
No investment on record yet. Edges arrive from the firm’s portfolio page, financing announcements, and Form D board seats.
Co-investors
20 relationships from shared deals, counted for the whole firm
Vesey Ventures LP 3 shared · recurring · they led 2 · we led 2China Medical System Holdings 1 shared · one time · we led 1Fenglei Capital 1 shared · one time · we led 1Canton Capital 1 shared · one time · we led 1Shanghai H••••••••• Capital 1 shared · one time · they led 1 · we led 1Shanghai Sci-Tech Innovation Center Capital 1 shared · one time · we led 1Root Venture Partners 1 shared · one time · we led 1Meituan Long-Z Investment 1 shared · one time · they led 1 · we led 1YuanBio Venture Capital 1 shared · one time · we led 1Lapam Capital 1 shared · one time · we led 1Runzhang Venture Capital 1 shared · one time · we led 1Gaorong Ventures 1 shared · one timeStone Venture 1 shared · one time · they led 1Templewater 1 shared · one timeSAIC 1 shared · one timeB•••••• AI Fund 1 shared · one timeCDH 1 shared · one timeGaocheng Capital 1 shared · one timeCITIC Capital 1 shared · one timeSparkedge Capital 1 shared · one time
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
6 dated events
- Mar 29, 2024L• M••••••••• ••••••••• L•••••• first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2024L• S•••••• I• L•••••• P••••••••• F••• first reported on Form ADV by L• M••••••••• ••••••••• L•••••• (Venture Capital Fund), GAV $13,588,800Fund first reported on Form ADVFundsFactL• S•••••• I• L•••••• P••••••••• F•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2024L• H••••••••• F••• I••• L••• first reported on Form ADV by L• M••••••••• ••••••••• L•••••• (Venture Capital Fund), GAV $196,206,643Fund first reported on Form ADVFundsFactL• H••••••••• F••• I••• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2024L• H••••••••• S•• F••• I• L••• first reported on Form ADV by L• M••••••••• ••••••••• L•••••• (Venture Capital Fund), GAV $49,388,329Fund first reported on Form ADVFundsFactL• H••••••••• S•• F••• I• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2024L• F••• I•• L••• first reported on Form ADV by L• M••••••••• ••••••••• L•••••• (Venture Capital Fund), GAV $158,996,861Fund first reported on Form ADVFundsFactL• F••• I•• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2024L• H••••••••• F••• I•• L••• first reported on Form ADV by L• M••••••••• ••••••••• L•••••• (Venture Capital Fund), GAV $390,907,277Fund first reported on Form ADVFundsFactL• H••••••••• F••• I•• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $809M across 5 vehicles
Evidence
16 observations from 2 sources