DFX Intelligence
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Firms / T• V•••••• C•••••• M••••••••• C••• L•••
T• V•••••• C•••••• M••••••••• C••• L•••
both early and growth/opportunity families, reported GAV $677M
Importance
26
moderate
Active deployment
25
moderate
Emerging
0
low
Completeness
63
high
Freshness
97
high
Research priority
12
low
Identity and regulatory footprint
- Headquarters
- Shanghai, Chinaa•••••••••.s••.gov
- Office address
- ••• Lockeda•••••••••.s••.gov
- Business phone
- ••• Lockeda•••••••••.s••.gov
- Website
- t••••••••.net
- SEC adviser type
- exempt reporting advisera•••••••••.s••.gov
- SEC exemption claimed
- venture capital fund advisera•••••••••.s••.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- Mar 27, 2024
- Private funds reported
- 4 (4 venture capital funds)a•••••••••.s••.gov
- Private fund gross assets
- $677Ma•••••••••.s••.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- I••••••• V••••••• L•••••• (Sole Shareholder), E
- business email
- info@tfcapital.nettfcapital.netpublished by the subject
- business phone
- +86 15000041961adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
- Sectors
- biotech, industrial
- Stages
- early
- 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
4 reported, 1 no longer reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| T•••••• L••• S•••• F••• L••• | Growth fund | 2024 adv first reported | Early deployment | $41.6M Mar 27, 2024 | 5 | unknown | unknown |
| T• C•••••• F••• I• L••• | Fund | 2021 form d first sale | Mature | $129M Mar 27, 2024 | 25 | $54.5M | Nov 15, 2022 |
| T• C•••••• F••• I•• L••• | Fund | 2018 form d first sale | Harvest | $449M Mar 27, 2024 | 19 | $40.4M | Nov 15, 2022 |
| T•••••• F••• I• L••• | Fund | 2017 form d first sale | Harvest | $57.9M Mar 27, 2024 | 3 | $12.0M | Nov 14, 2022 |
| T•••••• F••• L••• | Fund · ADV: Private Equity Fund | unknown | Wound down | $114M Mar 29, 2023 | 5 | 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
1 current, 0 departed
C••••• C••• H••••••••
PartnerSole Shareholder · since Feb 1, 2019
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
0 relationships from shared deals, counted for the whole firm
No co-investor relationship yet: these are derived only from rounds and portfolio listings the graph has seen both investors on.
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
8 dated events
- Sep 15, 2026••• LockedClassification changedClassificationInferenceno URL
- Mar 27, 2024••• LockedFund no longer reportedFundsInferenceT•••••• F••• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2024••• LockedFund first reported on Form ADVFundsFactT•••••• L••• S•••• F••• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Nov 23, 2022••• LockedFund first reported on Form ADVFundsFactT•••••• F••• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Nov 23, 2022••• LockedFirst SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Nov 23, 2022••• LockedFund first reported on Form ADVFundsFactT•••••• F••• I• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Nov 23, 2022••• LockedFund first reported on Form ADVFundsFactT• C•••••• F••• I• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Nov 23, 2022••• LockedFund first reported on Form ADVFundsFactT• C•••••• 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 15, 2026Multi-stage venture firm (confirmed, 95%, cls-1)both early and growth/opportunity families, reported GAV $677M
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $636M across 3 vehicles
Evidence
28 observations from 2 sources