中文翻译由 AI 生成

CM Venture Capital
Partner / Shanghai and global

Long-term capital.
Shared conviction.

Invest in science-led companies. Gain insight into emerging technologies. Build relationships that connect innovation with industry.

Discuss a partnership ↗
One connected industry network

Innovate together.
Invest together.

A relationship can begin with an advisory project, develop into a fund partnership and expand through Startup Connects. Working together builds familiarity with our research, network and investment approach.

01 · Invest

CMVC funds

Invest in science-led companies with the aim of generating long-term financial returns. The CM Evergreen Fund, to our knowledge the first evergreen fund investing in China hard tech, has no fund-life clock, so we can back founders for the long run. In 2026 China’s regulator approved it as a QFLP (Qualified Foreign Limited Partner) venture capital fund: currency conversion happens at the fund level and the fund is treated as a domestic RMB fund in China, which makes it more flexible than a USD fund. It builds on our first QFLP structure, approved in 2021 for CM Fund III. Corporate LPs also gain access to our live database of 8,000+ startups, alongside co-investment opportunities, innovation workshops and curated introductions.*

Explore the Evergreen Fund ↗
Our limited partnersCM Evergreen Fund and previous funds
02 · Advise

CM Advisory

Dedicated, paid consulting helps companies identify technologies, assess opportunities and develop industrial partnerships. These engagements deepen the industry insight and relationships that inform our investing.

Explore CM Advisory ↗
Our advisory clientsCurrent and past relationships
03 · Connect

Startup Connects

Use our Shanghai office as needed, by arrangement. Showcase your company in a dedicated exhibition area and meet relevant founders through curated events. A year-round presence in our innovation community.

Explore Startup Connects ↗
Our Startup Connects clientsCurrent and past relationships

*Corporate LPs benefit from access to co-investment opportunities, live database access, selected open innovation workshops and curated startup introductions. Database access, selected workshops and introductions are provided at no additional charge. Dedicated advisory projects are scoped and charged separately. CM Advisory is an affiliate of CM Venture Capital.

CMVC makes startup investment decisions independently, based on its investment criteria and due diligence. Participation in our advisory or startup–corporate programs, a commercial partnership with an LP, or a request to co-invest does not imply or guarantee investment by a CMVC fund.

CMEF works with external professional firms: Linnovate Partners for fund administration; Grant Thornton for fund audit; Cooley for legal advice outside China; and Jingtian & Gongcheng for legal advice in China. CMVC retains responsibility for investment decisions and oversight.

Tap into China’s innovation frontier

Our team’s scientific background gives us a distinctive perspective on the technology frontier. Both co-founders, Dr. Min Zhou and Dr. Patrick Berbon, hold PhDs, which is rare in venture capital. Many firms employ scientists. At CM Venture, the people making the investment decisions are scientists themselves. Min and Michelle entered Tsinghua University at 16, and all three partners studied there. Combined with experience evaluating more than 8,000 startups, it helps us assess technical potential and industrial fit, explore co-innovation with corporate teams and introduce startups whose capabilities address their needs.

Bridge the East–West gap

With 16 years on the ground, we connect local understanding with a global industry perspective. We help you navigate China’s innovation ecosystem, understand the market and develop relationships that support your growth in China. In 2016, CM Venture Capital’s Fund II raised RMB 405 million from five global corporates (GE, SABIC, BASF, BAT and Henkel), with Samsung investing alongside through a Cayman fund. Each decision was made at the corporate’s headquarters, not in China, and for all six it was their first investment in China venture capital. It started CM’s journey of building the capabilities and expertise to work with corporates.

Turn technology fit into partnership

Draw on our proven experience bringing startups and multinational companies together—from identifying a technology fit to developing an industrial relationship. See how CM helped connect Econic with Changhua and Enwise with Sinar Mas.

Econic and Changhua ↗
Enwise and Sinar Mas ↗

Let’s explore a partnership.

cmef@cmventure.net ↗Existing LP login ↗