ZhenFund | Activity | F4

ZhenFund Activity

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

Types

Time range

Investment

Manus raised $500M+ led by Boyu Capital and IDG Capital, with follow-on from existing shareholders Tencent, HSG and ZhenFund. Valuation doubled to ~$4B. This was Manus's first funding round since Meta's acquisition was blocked by Chinese regulators.

Manus

Manus ZhenFund

cnbc.comOCT 8, 2026

OCT 8, 2026

Exit

Momenta (6880.HK) listed on the Main Board of the Hong Kong Stock Exchange as the first physical AI stock. ZhenFund was an investor in Momenta's first funding round. IPO raised ~HK$6.8 billion, 414x oversubscribed.

Momenta

Momenta ZhenFund

zhenfund.comJUL 8, 2026

JUL 8, 2026

Exit

MetaX Integrated Circuits (Shanghai) Co., Ltd. listed on the Shanghai Stock Exchange's STAR Market (stock code: 688802.SH), raising RMB 4.197 billion. ZhenFund was an early investor via Managing Director Yao Fangzhou.

MetaX

MetaX ZhenFund

zhenfund.comJUN 30, 2026

JUN 30, 2026

Investment

Led investment in Yuance Future Intelligent, a vertical market software company.

Yuance Future Intelligent

Yuance Future Intelligent ZhenFund

pitchbook.comJUN 29, 2026

JUN 29, 2026

Milestone

Portfolio company Wuji Tech unveiled the first generation of the Wuji Hand, a dexterous robotic hand with 20 active degrees of freedom.

Wuji Tech

Wuji TechZhenFund

en.zhenfund.com

Added recently

New Fund

ZhenFund closed its eighth fund on approximately $300M, oversubscribed despite challenging market conditions. Fund VIII was deliberately capped lower than Fund VII's $400M to build a more concentrated portfolio.

ZhenFund

ZhenFundZhenFund

ionanalytics.comAPR 15, 2026

APR 15, 2026

Investment

Led Seed investment in Inferact alongside Andreessen Horowitz and other investors.

Inferact

Inferact ZhenFund

tracxn.comJAN 23, 2026

JAN 23, 2026

Exit

Portfolio company Manus acquired by Meta for more than $2 billion, representing a major exit for the fund.

Manus

Manus ZhenFund

reuters.comDEC 30, 2025

wsj.com

bloomberg.com

techcrunch.com

DEC 30, 2025

Milestone

Portfolio company Muxi Integrated Circuit listed on Shanghai Stock Exchange.

Muxi Integrated Circuit

Muxi Integrated CircuitZhenFund

tracxn.comDEC 17, 2025

eu.36kr.com

DEC 17, 2025

3 investments· OCT 2025 – DEC 2025Show all

Investment

Participated in Pollo.AI's $14M Seed round led by Gaocheng Capital for AI video generation.

Pollo.AI

Pollo.AI ZhenFund

longbridge.comDEC 8, 2025

DEC 8, 2025

Investment

Co-led RheoFit's Seed round with Xiaohongshu (RED), backing the autonomous foam roller innovator.

RheoFit

RheoFit ZhenFund

sg.finance.yahoo.comOCT 24, 2025

prnewswire.com

OCT 24, 2025

Investment

Invested in ChatCut's Seed round, participating alongside Antler.

ChatCut

ChatCut ZhenFund

tracxn.comOCT 22, 2025

OCT 22, 2025

Milestone

Portfolio company YMT.com went public on NASDAQ.

YMT.com

YMT.comZhenFund

tracxn.comAUG 19, 2025

AUG 19, 2025

Essay

ZhenFund Managing Partner Dai Yusen published a comprehensive essay on AI investing thesis, covering AI application value, founder profiles for the AI era, and the shift from attention-based to value-based business models.

ZhenFund

ZhenFundZhenFund

zhenfund.comJUN 9, 2025

JUN 9, 2025