Chinese venture capital firms are accelerating new fundraising efforts after three years of record weakness, as they try to capture renewed investor interest in the country’s technology sector, according to a Financial Times report cited by BlockBeats on Aug. 2.
Data from Asante Capital shows that at least 60 new U.S. dollar funds are seeking a combined $35 billion. About 40 of those vehicles are venture capital funds. HSG, IDG Capital, Matrix Partners China and Future Capital Discovery are marketing new funds or preparing to launch fundraising, while ZhenFund and Qiming Venture Partners have recently completed their raises.
The report said successful listings by technology companies including Zhipu and MiniMax, along with progress from Moonshot AI, DeepSeek and players in robotics, have pushed investors to look again at Chinese tech. Some investors see allocations to Chinese AI as a hedge against bets on U.S. markets, citing intense cost competition among Chinese companies and cheaper model services.
Market participants said that does not mean Chinese venture capital has returned to boom times. Instead, they described the move as a selective restart in dollar fundraising after three straight years at low levels. Preqin data showed that 1,105 China-related funds raised $150 billion in 2022, compared with just 97 funds that raised $13.6 billion in 2025.
Some large U.S. investors are still staying on the sidelines because of restrictions tied to sensitive technology investments, while capital from Europe and the Middle East has shown stronger interest. In the current buyer’s market, investors are pushing for more co-investment rights and asking fund managers to commit more of their own capital. At the same time, large pools of money are competing for a limited number of high-conviction deals, especially in AI.