Pudong Venture Capital
About Pudong Venture Capital
Preqin and Tracxn list the firm as founded in 1997 in Shanghai. Baidu Baike describes it as the first venture capital institution in Pudong New Area, set up by six companies. It is based in Zhangjiang. In January 2024 a state-owned parent, Shanghai Pudong Venture Capital Group, was formally launched with CNY 10B in registered capital. It is funded by the Pudong State-owned Assets Supervision and Administration Commission and covers angel, industrial, strategic and fund investing. Individual partners who lead AI investing are not named in the sources found, so none are listed here. Tracxn counts a small team with three partners, and Altss lists 18 staff, 15 of them investment professionals.
The firm invests as a state-backed institution, often alongside other state funds. In September 2025 it and GL Ventures set up a CNY 2B (about USD 281.4M) fund for broad AI technology and AI applications. The fund also supports the Zhangjiang AI Innovation Town in Pudong. That fund works with the CNY 2B Pudong AI Seed Fund, which launched at the World AI Conference in July 2025 and targets startups. Its direct deals include a foundation model developer (StepFun) and an AI sports robotics maker (Pongbot). It joined StepFun's CNY 5B Series B+ in January 2026 with other state-owned investors. It joined Pongbot's Series B in October 2026 under a lead investor, the Shanghai State Investment Pilot Fund.
Public data shows rounds from seed to late stage. Tracxn records a recent seed investment in JurisAI.cn and says most of its deals are at seed and Series E. Altss describes a mandate from seed through growth. The firm does not publish typical check sizes, and its own share of the StepFun and Pongbot rounds is not disclosed. In both rounds it was a participant, not the lead.
- StepFun: Shanghai developer of multimodal foundation models, founded in 2023. The firm joined the CNY 5B (about USD 719M) Series B+ in January 2026. A USD 2.5B round was reported in May 2026.
- Pongbot: AI sports hardware company that makes table tennis and tennis serving robots. The firm joined its Series B of hundreds of millions of yuan in October 2026.
- JurisAI.cn: Tracxn lists a recent seed round, with the amount undisclosed.
- yicaiglobal.com/news/chinas-hillhouse-pudong-venture-capital-launch-us
- yicaiglobal.com/news/chinese-ai-startup-stepfun-raises-usd7188-million
- technode.com/2026/10/12/sports-training-robot-maker-pongbot-raises-hun
- caproasia.com/2026/05/09/china-ai-startup-stepfun-raised-2-5-billion-i
- preqin.com/data/profile/fund-manager/pudong-venture-capital/314031
- tracxn.com/d/venture-capital/pudong-venture-capital/**6IFeAIxweI213CH2
- altss.com/profile/pudong-venture-capital
- city.sina.cn/finance/2024-01-11/detail-inacemiv2576521.d.html
Investing activity
Pudong Venture Capital appears in 2 AI deals tracked by the AI Lounge deals desk, rounds totalling $2.5B. The rounds are mostly Series B and Growth, with a median round size of $2.5B. The most recent are Pongbot (Series B, Hundreds of millions of yuan (undisclosed), Oct 2026) and StepFun (Venture round, $2.5B, May 2026).
Pudong Venture Capital most often invests alongside Shanghai State Investment Pilot Fund, BlueRun Ventures, Yuanhe Puhua and 5Y Capital, and the companies it backs on AI Lounge are mostly in AI sports robotics and Natural Language Processing.
Deals
Frequently asked questions about Pudong Venture Capital
Does Pudong Venture Capital invest in AI startups?
Yes. It joined StepFun's Series B+ in January 2026 and Pongbot's Series B in October 2026. It also co-launched a CNY 2B AI fund with GL Ventures in 2025 and has a CNY 2B Pudong AI Seed Fund.
What stage does Pudong Venture Capital invest at?
Public databases show deals from seed to later-stage rounds, including Series B and Series B+ rounds in AI. The firm has not published a stage focus or check size.
How big are Pudong Venture Capital's AI funds?
The joint fund with GL Ventures is CNY 2B (about USD 281.4M), and the Pudong AI Seed Fund is also CNY 2B. Its parent group has CNY 10B in registered capital.
Who leads AI investing at Pudong Venture Capital?
The sources found do not name the partners who lead AI deals. Founders should check the firm's current contacts before pitching.
Does Pudong Venture Capital lead AI rounds?
In the rounds found, it joined as a participant. The Shanghai State Investment Pilot Fund led Pongbot's Series B, and no lead is named for the StepFun rounds in the sources used.
What AI companies has Pudong Venture Capital invested in?
Pudong Venture Capital's AI investments include Pongbot and StepFun. The 2 rounds on AI Lounge are listed on this page with amounts, dates and co-investors.
Where is Pudong Venture Capital based?
Pudong Venture Capital is based in Shanghai, China.
Who does Pudong Venture Capital co-invest with?
Pudong Venture Capital's most frequent co-investors on AI Lounge are Shanghai State Investment Pilot Fund (1 deal), BlueRun Ventures (1 deal), Yuanhe Puhua (1 deal), 5Y Capital (1 deal) and Qiming Venture Partners (1 deal).
How can founders reach Pudong Venture Capital?
Founders on AI Lounge can see Pudong Venture Capital's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add Pudong Venture Capital to their Investor Pipeline to track the conversation.