Investorstate

Pudong Venture Capital (浦东创投)

Shanghai (上海)

Shanghai Pudong venture and industrial-capital platform. Part of Pudong's state-backed technology-finance system, with vehicles spanning angel, science-and-technology, industrial, and strategic investment.

Website

2 labs backed

StepFun (阶跃星辰)

Shanghai foundation-model lab founded by ex-MSRA Chief Scientist Jiang Daxin (姜大昕). Densest MSRA-diaspora cluster. Yin Qi (印奇, Megvii co-founder) became chairman January 2026.

Zhipu AI / Z.ai (智谱AI)

Spun out of Tsinghua's Knowledge Engineering Group (KEG); founded by professors Tang Jie (唐杰) and Li Juanzi (李娟子); CEO Zhang Peng (张鹏).