Team Portfolio Raise Essays

F4/Capital Today/Activity

Capital Today Activity

Every public signal F4 has attached to this firm, with sources and cross-entity links.

Types

Time range

Essay

In a July 2026 podcast interview, Kathy Xu proposed the "Token Economy" concept, arguing that a major driver of future economic growth will come from production and consumption of tokens. She stated Capital Today's investment focus has shifted to Hard Tech (AI, robotics, semiconductors).

Capital Today

Capital TodayCapital Today

baike.baidu.comJUL 2026

JUL 2026

Capital Today | Activity | F4

Investment

Capital Today participated as a co-investor in a funding round exceeding $100M for Sand.ai, an AI video generation company.

Sand AI

Sand AI Capital Today

baike.baidu.comJUN 2026

JUN 2026

Investment

Backed Leapting's pre-Series B round (RMB100M+/~$14.5M) for photovoltaic-installation robotics, alongside new investor Long Capital.

Leapting

Leapting Capital Today

solarquarter.comMAR 18, 2026

capitaltoday.com

MAR 18, 2026

Milestone

Capital Today (via Quande Meijia) invested RMB 255.3M in ZHIPU·AI (Zhipu) in Nov 2023. After Zhipu's HK IPO and GLM-5 launch, the stake is worth ~HKD 5.5B — an 18x return. Zhipu's market cap topped HKD 210B.

智谱华章

智谱华章 Capital Today

capitaltoday.comFEB 13, 2026

FEB 13, 2026

News

Featured coverage of founder Xu Xin's 18x return on a single investment, citing her track record backing JD.com and Meituan and personal wealth exceeding RMB 10 billion.

Xu Xin profiled for 18x single-investment return

capitaltoday.comFEB 13, 2026

FEB 13, 2026

3 investments· NOV 2025 – FEB 2026Show all

Investment

Capital Today participated as a major existing shareholder in Xinghai Tu's RMB 1B Series B financing round. Xinghai Tu is an embodied intelligence company.

Xinghai Tu

Xinghai Tu Capital Today

baike.baidu.comFEB 11, 2026

FEB 11, 2026

Investment

Capital Today participated in a new round of financing for MoonshotAI (Kimi), the AI large language model company. Xu Xin revealed she added to the position five times over three years.

MoonshotAI

MoonshotAI Capital Today

baike.baidu.comDEC 31, 2025

DEC 31, 2025

Investment

Won a share auction for ByteDance stock, paying roughly $300M for a stake at a $480B valuation, outbidding several other bidders for shares from Bank of China Group Investment.

ByteDance

ByteDance Capital Today

bloomberg.comNOV 20, 2025

capitaltoday.com

NOV 20, 2025