IDG Capital Fund Management Ltd. logo

IDG Capital Fund Management Ltd.

Institutional venture firmSEC exempt reporting adviserClassification probable· Hong KongEN.IDGCAPITAL.COM

Founded in 1993, IDG Capital brings 30+ years of global investing across venture capital, private equity, M&A, secondaries and public markets—1,800+ companies and 600+ exits across 10+ markets.

In the firm's own words, from its website.

Reported fund assets
$12B
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
6
Investment team
2
Latest vintage
2024
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, 19 additional investments, funds and LPs, 17 events, 4 verified contacts (2 published business email, 1 general firm email, 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.

Nothing material in the last 180 days.

People to know

View all people
  • Quan Zhou
    Director
    Why: Named with investment responsibility
    No route on file yet
  • Chising Ho
    Shareholder
    Why: Named with investment responsibility
    No route on file yet

Relationship network

48 connected entities

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
  • 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 Capital Fund 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 Capital Fund 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
No investment on record yet. Edges arrive from the firm’s portfolio page, financing announcements, and Form D board seats.
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
Sectors
enterprise software, fintech, healthcare, biotech, consumer, climate
Stages
early
Geography
asia, boston, europe, france, global, globally, new york, singapore
Check size
not stated; DFX does not estimate checks from round sizes
Self-described
venture capital
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 no observed dealsfollow-on rate no observed dealsnew 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
    Why this person: 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
2 published business email, 1 general firm email, 1 firm phone

2 published business email, 1 general firm email, 1 firm phone on record, each with its source. Values open with the complete profile.

Funds and LPs

20 vehicles, 0 LPs disclosed
Funds and vehicles
20 reported, 2 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Icpf-ViiiFund · ADV: Private Equity Fund2024 adv first reportedEarly deployment$101M
Mar 30, 2026
1unknownunknown
Iccf3mFund2023 adv first reportedActive deployment$2.0B
Mar 30, 2026
54$0
of $1.0B
Aug 7, 2015
Icg4mFund2023 adv first reportedActive deployment$1.0B
Mar 30, 2026
76$0
of $550M
May 30, 2014
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 · on 1 other DFX graph
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
Across DFX and the capital chainon 1 other DFX graph Show
Across DFX
  • The same institution is held on Private Equity, matched by identifier. See which records
Across the graphs

IDG Capital Fund Management Ltd. is the same institution as 1 record in Private Equity.

Private Equity1

The joined record opens with the product, beside every other relationship on this page.

Checking your plan…

Evidence and history

22 dated events, 54 observations from 3 sources
Timeline
22 dated events
  1. Sep 30, 2026
    IDG Capital is deploying faster: 4 dated deals in the 90 days to 2026-09-30 against about 1.5 at its rate over the previous 12 months
    Deployment pace changedderived signalInferenceno URL
  2. Mar 30, 2026
    Icpf-Xi first reported on Form ADV by IDG Capital Fund Management Ltd. (Private Equity Fund), GAV $149,417,263
    Fund first reported on Form ADVFundsInferenceIcpf-XiForm ADV
  3. Mar 30, 2026
    Iof first reported on Form ADV by IDG Capital Fund Management Ltd. (Private Equity Fund), GAV $99,567,799
    Fund first reported on Form ADVFundsInferenceIofForm ADV
  4. Mar 30, 2026
    Icpf-Ix first reported on Form ADV by IDG Capital Fund Management Ltd. (Private Equity Fund), GAV $50,080,424
    Fund first reported on Form ADVFundsInferenceIcpf-IxForm ADV
  5. Mar 30, 2026
    Icpf-X first reported on Form ADV by IDG Capital Fund Management Ltd. (Private Equity Fund), GAV $1,187,416,682
    Fund first reported on Form ADVFundsInferenceIcpf-XForm ADV
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 30, 2026 · 20 private fundsShow
Headquarters
Hong Kong, Hong Kongadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
Website
EN.IDGCAPITAL.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
20 (14 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$12Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Owners on Schedule A
IDG Capital Group Holdings Ltd. (Shareholder), owns 75% or more
Classification history
Every classification this record has carried2 on recordShow
  1. Sep 23, 2026
    Institutional venture firm (probable, 80%)
    Venture manager, reported GAV $11.9B across 20 vehicles
  2. Sep 12, 2026
    Institutional venture firm (probable, 80%)
    Venture manager, reported GAV $10.4B across 16 vehicles
Evidence
54 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 filing2018-03-29Mar 30, 2026FactForm ADV
First Form ADV filing2018-03-29Mar 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
Contact page urlSep 16, 2026Factno URL
DescriptionSep 16, 2026Factno URL
DescriptionSep 15, 2026Factno URL
HeadquartersHong Kong, Hong KongMar 28, 2024FactForm ADV
Office addressMar 28, 2024FactForm ADV
Self-described typeVenture capitalSep 16, 2026Factno URL
Self-described typeVenture capitalSep 15, 2026Factno URL
Legal formCorporationMar 28, 2024FactForm ADV
Portfolio pageSep 16, 2026Factno URL
Portfolio pageSep 15, 2026Factno URL
Private funds reported20Mar 30, 2026FactForm ADV
Private funds reported16Mar 28, 2024FactForm ADV
Private fund gross assets (reported)$12BMar 30, 2026FactForm ADV
Private fund gross assets (reported)$10BMar 28, 2024FactForm ADV
Schedule a diffsadiff-1Mar 30, 2026FactForm ADV
Stated geographyAsia, boston, europe, france, global, globally, new york, singapore
“geography words on the home page”
Sep 16, 2026Factno URL
Stated geographyAsia, boston, europe, france, global, globally, new york, singapore
“geography words on the home page”
Sep 15, 2026Factno URL
Stated sectorsEnterprise software, fintech, healthcare, biotech, consumer, climate
“sector words on the home page”
Sep 16, 2026Factno URL
Stated sectorsEnterprise software, fintech, healthcare, biotech, consumer, climate
“sector words on the home page”
Sep 15, 2026Factno URL
Stated stagesearly
“stage words on the home page”
Sep 16, 2026Factno URL
Stated stagesearly
“stage words on the home page”
Sep 15, 2026Factno URL
Venture funds reported14Mar 30, 2026FactForm ADV
Venture funds reported14Mar 28, 2024FactForm ADV
WebsiteMar 28, 2024FactForm ADV
Website resolved domainidgcapital.comSep 16, 2026Factno URL
Website resolved domainidgcapital.comSep 15, 2026Factno URL
Website resolved domainidgcapital.comSep 14, 2026Factno URL
Site titleSep 16, 2026Factno URL
Site titleSep 15, 2026Factno URL
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, probable · 2 filing advisers share this firmShow
Importance
58
elevated
Active deployment
25
moderate
Emerging
0
low
Freshness
100
high
Institutional venture firm · probableSEC exempt reporting adviser

Venture manager, reported GAV $11.9B across 20 vehicles

This firm files as 2 advisers on en.idgcapital.com: IDG Vc 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: 0.93 · funds: 1 · people: 0.16 · investments: 0 · co investors: 0.56
active deployment
investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: not scored
emerging manager
fund count: 22 · reported gav: $12B · first adv filing: 2018-03-29 · years since first filing: 8.5

Fits, record history and connections

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

Fits

1 scored match, best firstas of
  • score 18.7confidence 50%
    Why: activity; cap table
    Watch: no observed deals

Scored by DFX match engines from the record's observed portfolio, stage, geography and recent activity. A fit is a reason to look, not a mandate; the blockers say what the model could not confirm. Names and the evidence sentences show with the names on this page.

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
    2018-03-29source 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.