Investingin theindustriesof the future
CM Venture Capital (CMVC) is a hard tech venture capital firm in Shanghai, backed by multinational companies in materials, industrial, resources and energy. We back science-led founders in China, Europe and the US, and connect them through open innovation with multinational partners to scale worldwide.
Explore our portfolio ↗Our conviction / 01
Science-led
venture capital
Global industrial impact
The Evergreen Fund / 02
Long-term capital, lasting partnerships
Built for flexible participation and long-term partnership, beyond traditional fund cycles
Through the CM Evergreen Fund, MNCs gain a window on Chinese innovation, co-investment opportunities, and business partnership opportunities with fast-paced startups. In 2026 the fund was approved as a QFLP (Qualified Foreign Limited Partner) venture capital fund. This structure brings a unique and process-efficient way of investing in China.
Read the full article ↗Our LP community / 03
Hear from Evergreen Fund LPs
Perspectives from investors in the CM Evergreen Fund.
“There’s a saying that you can only connect the dots that you know of – in China, CM Venture can help us to connect those dots!”
Dr. Thomas Kostka
Head of Corporate Venturing, ALTANA
Read the perspective ↗“In today’s rapidly changing AI and investment landscape, CM’s experience, platform, and access to innovative founders and ventures are impressive. But for me, it still comes down to the people — and the team at CM Ventures is exceptional.”
Christine Tandon
Global Director, MANN+HUMMEL Ventures
Read the perspective ↗“The investment team’s professionalism, technical expertise, and disciplined decision-making approach have left a lasting impression on me.”
Rick He
Senior Specialist, Yokogawa China Investment Co., Ltd.
Read the perspective ↗Partnership highlight
A partnership spanning three CM Venture funds, beginning with BAT’s investment in 2016.
Btomorrow Ventures
BAT’s corporate venture arm
Where we invest / 04
Three frontiers
One connected future
AI & Robotics
Applied AI, robotics, industrial software and intelligent systems.
New Materials
Next-generation platforms enabling new performance across the physical economy.
Energy & Environment
Electrification, industrial decarbonization and resilient energy systems.
Global platform / 05
Built in China
Connected globally
Deep local knowledge and an international investment perspective connect founders, multinational corporations and investors across the world’s most important innovation ecosystems.
Technology companies do not scale in isolation. We connect founders to the industrial intelligence, commercial relationships and international markets that turn invention into impact. For multinational open innovation and venture teams, we are your window on China’s hard tech ecosystem. For founders, the connection to multinational customers and partners is the reason to work with us.
Perspectives / 06
Thinking at the edge of industry
For entrepreneurs
Building something that could redefine an industry?
We want to hear from entrepreneurs working on technologies that matter. Share your vision and the breakthrough behind your business.
Submit a business plan ↗For prospective investors
Help shape the industries of tomorrow
Scientific breakthroughs need partners who see beyond today. Join CM Venture Capital’s Evergreen Fund to connect long-term capital with pioneering founders and the industrial partnerships that turn invention into lasting impact.
Explore an LP partnership ↗