IDG Vc Management Ltd.

Institutional venture firmpart of IDG CapitalSEC exempt reporting adviserClassification probable· Hong KongIDGVC.COM

Institutional venture firm, based in Hong Kong, reporting $2.9B of fund assets on its funds' Form ADV filings.

Composed from this organization's classification, location and filed figures.

Reported fund assets
$2.9B
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
6
Investment team
2
Latest vintage
2015
Contact decision makers
More
Ask DFX about thisView relationshipsFind contactsInvestments (6)Team (2)Funds
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

21 additional co-investors and affiliates, 17 additional investments, funds and LPs, 24 events, 1 verified contact (1 firm phone)

Every relationship, signal and contact on this record, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

What matters now

  1. 6 companies
    new in 12 months

    6 new companies in the last 12 months. Latest round Apex Intelligence round ($50M round, led) on 16 Sep 2026.

    A firm writing cheques this quarter is one a founder can pitch now.

    Factfunding announcements, Form D, the firm's portfolio pageFor Founders, co-investorsInvestments →
  2. 2 of 3
    enter at seed or A

    Enters mostly at seed to Series A: 2 of 3 first entries on record.

    rounds to 20 Aug 2026 · Tells a founder whether their round is one this firm writes.

    Derived3 rounds with a stated stage, against the firm's siteFor FoundersInvestments →

People to know

View all people
  • Quan Zhou
    Director& President
    Why: Runs the firm (chief executive or president)
    No route on file yet
  • Chising Ho
    Shareholder
    Why: Named with investment responsibility
    No route on file yet

Relationship network

50 connected entities6 observed rounds3 dated rounds shown here, 2026

From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.

Reading the network
  • Sponsor
  • Company
  • Fund or vehicle
  • Person

Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

How am I connected?

Name your firm, a company or a person, and DFX finds the published routes to IDG Vc Management Ltd.: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.

See how you connect to IDG Vc Management Ltd.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Investing

6 companies on record, 6 new in 12 months
Investments on record
6 companies, 0 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
Apex IntelligenceFunding roundleadunknown$50.0MunknownSep 16, 2026Fact Press release
XPENG robotics businessFunding roundleadunknown$900MunknownAug 24, 2026Fact Press release
Math MagicSeries A · Series Aparticipantunknown$50.0MunknownAug 20, 2026Fact Press release
Stated thesis versus observed behaviour
6 observed deals
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
series a 67%series b 33%
Stage at first entry
series a 67%series b 33%
Sectors
unknown 100%
lead rate 33%follow-on rate 0%new companies, 12 months 6

Team

2 current, 0 departed
Decision makers
who to call first, and why; then everyone else by function
  • Quan Zhou · Director& President
    Why this person: Runs the firm (chief executive or president); Named with investment responsibility
  • Chising Ho · Shareholder
    Why this person: Named with investment responsibility

Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.

Investment team
2 current, 0 departed
Contacts
1 firm phone

1 firm phone on record, each with its source. Values open with the complete profile.

Funds and LPs

14 vehicles, 0 LPs disclosed
Funds and vehicles
14 reported, 3 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Is5Fund2015 adv first reportedHarvest$503M
Mar 30, 2026
39unknownunknown
Iac2mFundunknownUnknown$937M
Mar 30, 2026
113unknownunknown
Iag3mFundunknownUnknown$353M
Mar 30, 2026
114unknownunknown
Limited partners
0 LPs, 0 disclosed commitments
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.
Known LPs and allocators
0 relationships across the firm's funds, from public pensions and the allocator graph
No allocator names this firm or its funds in a public disclosure DFX holds.

Relationships across DFX

24 co-investors
Co-investors
24 counted from shared deals, for the whole firm
  • LinkX Capital
    1 shared deal · one time · they led 1 · this firm led 1
    2026-09-16
  • Decent Capital
    1 shared deal · one time · this firm led 1
    2026-09-16
  • SEE Fund
    1 shared deal · one time · this firm led 1
    2026-09-16

Evidence and history

29 dated events, 45 observations from 3 sources
Timeline
29 dated events
  1. Mar 30, 2023
    Iccf3s no longer reported on Form ADV by IDG Vc Management Ltd.
    Fund no longer reportedFundsInferenceIccf3sForm ADV
  2. Mar 30, 2023
    Iccf3m no longer reported on Form ADV by IDG Vc Management Ltd.
    Fund no longer reportedFundsInferenceIccf3mForm ADV
  3. Mar 30, 2023
    Icg4s no longer reported on Form ADV by IDG Vc Management Ltd.
    Fund no longer reportedFundsInferenceIcg4sForm ADV
  4. Mar 30, 2023
    Icg4m no longer reported on Form ADV by IDG Vc Management Ltd.
    Fund no longer reportedFundsInferenceIcg4mForm ADV
  5. Mar 31, 2021
    Im1 no longer reported on Form ADV by IDG Vc Management Ltd.
    Fund no longer reportedFundsInferenceIm1Form ADV
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 30, 2026 · 14 private fundsShow
Headquarters
Hong Kong, Hong Kongadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
Website
IDGVC.COM
SEC adviser type
Exempt reporting adviseradviserinfo.sec.gov
SEC exemption claimed
Private fund adviseradviserinfo.sec.gov
Latest Form ADV
Mar 30, 2026
Private funds reported
14 (14 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$2.9Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Owners on Schedule A
Century Light Investments Limited (Shareholder), owns 75% or more
Classification history
Every classification this record has carried3 on recordShow
  1. Sep 23, 2026
    Institutional venture firm (probable, 80%)
    Venture manager, reported GAV $2.9B across 14 vehicles
  2. Sep 15, 2026
    Institutional venture firm (probable, 80%)
    Venture manager, reported GAV $3.6B across 14 vehicles
  3. Sep 12, 2026
    Institutional venture firm (probable, 80%)
    Venture manager, reported GAV $1.5B across 8 vehicles
Evidence
45 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
SEC exemption claimedPrivate fund adviserMar 28, 2024FactForm ADV
SEC adviser typeExempt reporting adviserMar 30, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 28, 2024FactForm ADV
First Form ADV filing2012-03-30Mar 30, 2026FactForm ADV
First Form ADV filing2012-03-30Mar 28, 2024FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-29Sep 30, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-25Sep 26, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-23Sep 24, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-21Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-22Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1Sep 12, 2026FactForm ADV
Latest Form ADV filing2026-03-30Mar 30, 2026FactForm ADV
Latest Form ADV filing2024-03-28Mar 28, 2024FactForm ADV
Venture share of reported funds1Mar 30, 2026FactForm ADV
Venture share of reported funds1Mar 28, 2024FactForm ADV
Business phoneMar 28, 2024FactForm ADV
HeadquartersHong Kong, Hong KongMar 28, 2024FactForm ADV
Office addressMar 28, 2024FactForm ADV
Legal formCorporationMar 28, 2024FactForm ADV
Private funds reported14Mar 30, 2026FactForm ADV
Private funds reported14Mar 28, 2024FactForm ADV
Private fund gross assets (reported)$2.9BMar 30, 2026FactForm ADV
Private fund gross assets (reported)$3.6BMar 28, 2024FactForm ADV
Schedule a diffsadiff-1Sep 29, 2026FactForm ADV
Venture funds reported14Mar 30, 2026FactForm ADV
Venture funds reported14Mar 28, 2024FactForm ADV
WebsiteMar 28, 2024FactForm ADV
Website statusunreachable
“home page did not answer with HTML”
Sep 16, 2026Factno URL
Website statusunreachable
“home page did not answer with HTML”
Sep 12, 2026Factno URL
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, probable · 2 filing advisers share this firmShow
Importance
48
elevated
Active deployment
23
moderate
Emerging
0
low
Freshness
100
high
Institutional venture firm · probableSEC exempt reporting adviser

Venture manager, reported GAV $2.9B across 14 vehicles

One of 2 advisers that share idgvc.com; the firm is IDG Capital. IDG Capital Fund Management Ltd.. Each keeps its own CRD, funds and filings; the grouping is the website each swore to on Form ADV and is recomputed every pass.

The inputs behind each score
importance
gav: 0.74 · funds: 1 · people: 0.08 · investments: 0.29 · co investors: 0
active deployment
investments 12m: 0.75 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 0 · latest investment at: 2026-09-16
emerging manager
fund count: 17 · reported gav: $2.9B · first adv filing: 2012-03-30 · years since first filing: 14.5

Fits, record history and connections

scored matches for this investor, every identity change, every edge

Record history

1 identity change, 1 dated event on the change ledger, latest event first
  • Grouped with firm
    2026-09-14
  • Adviser's first ADV filing
    2012-03-30source on record

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.