China Merchants Venture
Profile, fund size and portfolio
China Merchants Venture is the corporate venture arm of China Merchants Group, a conglomerate. It was founded in 2015 and is based in Shenzhen, China. It invests from Series A to growth. Sectors it names: artificial intelligence, biotech and life sciences, climate and energy, semiconductors and hardware.
- AUM or capital under managementS1
- CNY 18bn+
Every figure links to its source
Snapshot
Data behind this graphic
| Item | Value |
|---|---|
| Stage range | Series A to Growth |
| Sectors | Artificial intelligence, Biotech and life sciences, Climate and energy, Semiconductors and hardware |
| Geography | Asia |
| Offices | Shenzhen, China |
Sources: S3 China Merchants Group official page: 招商局创投 (established 2015, AUM above RMB 16 billion at end-2024, 8 funds); S2 Pedaily: a decade of a state-owned CVC; S1 China Securities Journal: China Merchants Venture holds the central SOE CVC mission.
Data behind this graphic
| Measure | Value | Unit | Kind | Source |
|---|---|---|---|---|
| Headline size | CNY 18bn+ | AUM or capital under management | Stated by the firm or its parent | S1 |
| Companies backed | 190+ | companies | Reported in the press | S1 |
| Companies on the firm's portfolio page | 6 | companies | Counted from the firm's own list | S2 |
Sources: S1 China Securities Journal: China Merchants Venture holds the central SOE CVC mission; S2 Pedaily: a decade of a state-owned CVC.
Where it invests and who leads it
LeadersS5S4S6
- Lu Zhenwei (卢振威)General Manager and Party branch secretary (总经理); legal representativeFind on LinkedInFirm page
- Yan Hao (闫昊)Deputy General Manager (副总经理)Find on LinkedInFirm page
- Zhang Yi (张翼)Deputy General Manager (副总经理) since July 2025Find on LinkedIn
- Jiang Weicheng (蒋玮城)Managing Director and head of compliance and risk control (董事总经理, 合规风控负责人)Find on LinkedIn
Key facts
| Fact | Value | Status | Source |
|---|---|---|---|
| Parent company | China Merchants Group | Single source | S1 |
| Parent industry | Conglomerate | Single source | S1 |
| Founded | 2015 | Single source | S1 |
| Headquarters | Shenzhen, China | Single source | S1 |
| Status | Active | Single source | S1 |
| Capital source | Parent and outside investors | Single source | S1 |
| Headline size | CNY 18bn+ (AUM or capital under management) | Single source | S1 |
| Companies backed | 190+ | Single source | S1 |
| People on the team page | 55 | Single source | S1 |
| Stages | Series A, Growth (inferred from announced rounds) | Estimate | S3 |
Fund vehicles
| Vehicle | Size | Source |
|---|---|---|
| Eight funds in three categories (own-capital VC funds, dual-GP industry ecosystem funds, market-raised funds) | Not published | S3 |
Recent rounds
| Date | Company | Round | Amount | Led by the firm | Source |
|---|---|---|---|---|---|
| 2026-08-10 | Acorn Robot (橡木果机器人) | Seed | Not stated | Yes | S7 |
History
- Established as the China Merchants Group CVCS1
Portfolio
Public sources name 6 portfolio companies.S2
The firm also states 190+ companies backed. The page list and the stated total measure different things.S1
Every company on the China Merchants Venture list
6 companies, as named in the sources cited.S2 Read the firm's list.
- Acorn Robot (橡木果机器人)
- Black Sesame Technologies
- Lightelligence (Xizhi Technology)
- Linklogis (Lianyi Rong)
- Moore Threads
- Zhipu AI
Official pages
Read the firm's own pages for current information.
- Website www.cmventure.com
Sources
- S1China Securities Journal: China Merchants Venture holds the central SOE CVC missionPress
- S2Pedaily: a decade of a state-owned CVCPress
- S3China Merchants Group official page: 招商局创投 (established 2015, AUM above RMB 16 billion at end-2024, 8 funds)Firm
- S4China Merchants Group news from 招商创投: 2024 annual work meeting (4 Feb 2024)Firm
- S5China Merchants Group news from 招商创投: General Manager at China-GCC investment forumFirm
- S6AMAC private fund manager disclosure: 招商局创新投资管理有限责任公司 (P1034325)Filing
- S7Idacai: Acorn Robot completes angel round co-led by China Merchants Venture (12 Aug 2026)Press
Disclaimer and corrections
Not affiliated. This page is not affiliated with, endorsed by or sponsored by China Merchants Venture or any company named on it. Names and trademarks belong to their owners. Informational only. This is a public-source reference. It is not investment, legal or tax advice and not an offer or solicitation. Sources. Each figure names its source. Figures may have changed. Please read the firm's official pages, linked above. Corrections and takedown. To report an error or ask for a change or removal, use the correction form or email Richard@CorporateVentureCapital.com.
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