ZHONGJIЦена ZhongJi Innolight Co., Ltd. (Derivatives)

"The Most Mysterious 'Boss's Wife' Who Started a VC" Recently, a name has been frequently mentioned among investors—Yang Jingting, the founder behind XINHE Capital. While not widely known herself, her husband is Liu Sheng, Chairman of trillion-dollar market cap company Zhongji Innolight. The couple entered the public eye during a Tsinghua University donation ceremony in April. However, Yang has been quietly building a significant investment portfolio through XINHE Capital since 2021, where she holds a 90% stake. With a background starting in 2014 across various investment firms, she now focuses XINHE Capital on upstream photonics and semiconductor sectors like materials, chips, and equipment, targeting data centers, smart devices, and automotive. The fund has accelerated its pace in 2024. Yang's broader activities include direct investments (e.g., Suzhou Suna Optoelectronics) and acting as an LP in funds like those from Yongxin Fangzhou and Qianrong Holdings. Her investments are strategically separate from her husband's core business. Her story is part of a larger trend: China's industrial tycoons are increasingly moving into tech VC. Examples include "Glass Queen" Zhou Qunfei (Lens Technology) investing in AI, Zhu Xingming (Inovance Technology) via family office Minghui Investment targeting brain-computer interfaces, and Luxshare Precision's family office. Liu Yi (Andon Health) recently participated in DeepSeek's funding round. These entrepreneurs leverage their industrial expertise and capital to back next-generation technologies like AI, semiconductors, and embodied intelligence, shifting the flow of wealth from real estate towards defining the future of hard tech.