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TH Capital operates as a growth equity investor focused on China's hard-tech companies. It invests minority shares in profitable enterprises with defensible technology portfolios. The firm's strategy targets Advanced Manufacturing, Next-gen Communication, Frontier Technologies, and Decarbonization. Leveraging proprietary research and Tsinghua University's ecosystem, TH Capital provides insights and value-add for its portfolio.
Established in 2007, TH Capital emerged from Tsinghua University, leveraging its position within China’s leading technology clusters. Its inception stemmed from an insight to capitalize on this robust ecosystem and the burgeoning hard-tech sector. ZhangYang is identified as the Chairman Founder, initiating the firm with a vision to lead specialized technological investments.
TH Capital serves expanding hard-tech companies, financing their development in China and globally. The firm aims to create societal value through investments, guided by Chinese roots and a global vision. It provides significant value-add capabilities to its portfolio, with offices in Beijing, Shanghai, Shenzhen, and Zurich, fostering international innovation and progress.
Key people at TH Capital.
TH Capital has 2 tracked investments across 2 companies. The latest tracked deal is $141.4M Series A in EngineAI Robotics in December 2025.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Dec 8, 2025 | EngineAI Robotics | $141.4M Series A | Huangpu River Capital | Cctv Fund, Fortune Capital, Guozhong Capital, Henan Investment Group, Hunan Caixin Investment Holding Group, Nanshan SEI Investment, Stone Ventures, Welkin, Xingyuan Capital |
| Jul 1, 2019 | Igloohome | $15.0M Series B | Insignia Ventures Partners, B. Paul Santos | Great Noble International, InnoVen Capital, Kickstart Ventures, ON Asset Management, Hyuk TAE Kwon, Singtel Innov8 |