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Finance · Investor directory 2026

Venture capital firms in China, Japan and Korea for founders raising in 2026

Venture capital firms in China, Hong Kong, Japan and South Korea for founders and finance leaders planning a raise in East Asia, covering Chinese and Hong Kong investors such as HongShan, Hillhouse, Qiming, ZhenFund and IDG Capital, Japanese firms such as JAFCO, Globis Capital, Global Brain, Incubate Fund, Coral Capital and UTEC, and Korean investors such as Korea Investment Partners, SBVA, Altos Ventures, KB Investment, Hashed and Kakao Ventures. Each listing shows the firm's city, investor type, usual stage, sector focus, open-application status and official site. Sponsored listings are paid placements ordered by daily bid; every other organisation below is listed free by our editors.

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All China, Japan & Korea venture capital firms (A–Z)

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#1

5Y Capital

Shanghai, China · Seed–Series A · Tech, life sciences, consumer

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#2

Altos Ventures

Seoul, South Korea · Seed–Series A · Consumer, software; Korea and US

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#3

Coral Capital

Tokyo, Japan · Seed–Series A · SaaS, fintech, climate, frontier

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#4

DNX Ventures

Tokyo, Japan · Seed–Series A · B2B SaaS; Japan–US

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#5

Global Brain

Tokyo, Japan · Multi-stage · SaaS, enterprise, frontier tech

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#6

Globis Capital Partners

Tokyo, Japan · Seed–Series A · Software, digital platforms

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#7

Gobi Partners

Hong Kong, Hong Kong · Seed–Series A · Emerging Asia; tech

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#8

Hashed

Seoul, South Korea · Seed–Series A · Crypto, web3, blockchain

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#9

Hillhouse Investment

Hong Kong, China · Growth · Healthcare, consumer, tech

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#10

HongShan (formerly Sequoia China)

Beijing, China · Multi-stage · AI, consumer, hard tech, healthcare

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#11

IDG Capital

Beijing, China · Multi-stage · TMT, consumer, industrial

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#12

Incubate Fund

Tokyo, Japan · Pre-seed/Seed · Seed; sector-agnostic

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#13

JAFCO Group

Tokyo, Japan · Multi-stage · Tech, healthcare; Japan and Asia

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#14

Kakao Ventures

Seoul, South Korea · Pre-seed/Seed · Deep tech, AI, consumer, games

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#15

KB Investment

Seoul, South Korea · Multi-stage · ICT, bio, fintech

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#16

Korea Investment Partners

Seoul, South Korea · Multi-stage · ICT, deep tech, bio, AI

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#17

Qiming Venture Partners

Shanghai, China · Multi-stage · Healthcare, technology

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#18

SBVA (formerly SoftBank Ventures Asia)

Seoul, South Korea · Seed–Series A · AI, robotics, enterprise

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#19

Source Code Capital

Beijing, China · Multi-stage · Internet, AI, consumer

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#20

UTEC (University of Tokyo Edge Capital)

Tokyo, Japan · Seed–Series A · University deep tech, life sciences

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#21

ZhenFund

Beijing, China · Pre-seed/Seed · Angel and seed; tech, consumer

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What is listed here and how should you use this directory?

This category lists venture capital firms headquartered in mainland China, Hong Kong, Japan and South Korea that invest equity in private technology companies. The three markets are listed together because founders raising in one often consider the others, but they operate under different rules, currencies and investor cultures, and a firm in one rarely leads a round in another. The list includes independent firms, corporate venture arms attached to large technology and industrial groups, university-linked and deep-technology funds, and crypto-native investors in Korea. Each entry carries the same fields: city, investor type, stage, sector focus, open-application status and official website.

Use the country and type fields together. In Japan and Korea a large share of venture capital comes from corporate venture arms and from funds attached to financial groups, and these investors weigh strategic fit alongside financial return. In China the landscape has shifted toward renminbi-denominated funds with domestic limited partners and state-linked capital, and a foreign founder's options are narrower than they were. The open-application flag tells you whether a firm runs a public inbound process; in these markets it is less common than in India or Europe, and introductions carry more weight.

For the mechanics behind the names, the Kurums Venture Capital hub collects the Kurums explainers on term sheets, valuation and fund structures, and the guide to VC firms accepting open applications in 2026 identifies the East Asian firms that publish an application form.

How do venture investors in China, Japan and Korea differ by type?

Each of the three markets has a distinctive mix of investor types. China's independent firms grew up alongside the country's large consumer-internet companies and now span US-dollar and renminbi vehicles with different limited-partner bases and different restrictions. Japan's venture market is shaped by corporate venture capital, by funds attached to brokerages and banks, and by a growing set of independent seed firms, some founded by foreign partners. Korea combines government-matched funds, financial-group venture arms, corporate arms attached to large platforms, and specialist investors in gaming and blockchain.

The table sets out the main types with examples from each market and the feature that most affects a founder's approach.

Investor typeExamplesMarketTypical stageDistinguishing feature
Chinese independent multi-stage firmHongShan, Hillhouse, Qiming, IDG Capital, 5Y CapitalChina, Hong KongSeed to growthDual-currency vehicles, deep domestic networks
Chinese seed and angel fundZhenFund, Source CodeChinaPre-seed and seedFast decisions, founder-community model
Japanese independent firmGlobis Capital, Incubate Fund, Coral Capital, DNXJapanSeed to Series BLeads domestic rounds, some English-language processes
Japanese financial-group or corporate VCJAFCO, Global BrainJapanSeed to growthCapital from a parent group, strategic co-investment
University-linked deep-tech fundUTECJapanPre-seed to Series ABacks research-based companies, long horizons
Korean financial-group VCKorea Investment Partners, KB InvestmentKoreaSeries A to growthGovernment-matched funds, large domestic portfolios
Korean corporate and platform VCSBVA, Kakao VenturesKoreaSeed to Series BAccess to platform distribution and partnerships
Specialist and cross-border fundAltos Ventures, HashedKorea, USSeed to Series BThesis-driven, bridges Korean and US markets

How do you approach a venture firm in East Asia?

Introductions matter more in these markets than anywhere else covered by this directory. Partners at Chinese, Japanese and Korean firms work through networks of portfolio founders, corporate partners, university laboratories and government programmes, and a cold email in English from an unknown founder rarely reaches a decision-maker. Where a firm publishes a form or an English-language contact route, use it, but assume that your first substantive conversation will come through someone the firm already knows. Local accelerators, government programmes and corporate open-innovation units are the usual starting points for a founder without an existing network.

Language and location shape the process. Japanese firms increasingly run bilingual processes, particularly the independent seed firms, but most diligence and legal work happens in Japanese and investors expect a founder or senior team member who can operate in the language. Korean firms behave similarly. In China, a foreign founder faces structural questions about which entity can receive investment and from which currency, and these questions determine which firms can invest before any discussion of the business begins.

Prepare materials that respect local expectations. Investors in all three markets read detailed financial plans and milestone schedules more closely than many Western investors and expect them in the local language as well as in English. Corporate venture arms will also want to see how your product fits the parent group's business, and a founder who has thought about that before the meeting saves several rounds of correspondence.

Government programmes in Japan and Korea, such as the startup visa schemes and the government-matched seed programmes, are often the fastest entry point for a foreign founder because they create an introduction to local investors as part of the programme. They are listed in the grants and support agencies category rather than here.

What do these firms ask for and what terms do they typically offer?

Diligence in East Asia is thorough on the financial plan, the corporate structure and, for corporate investors, strategic fit. Instruments vary by market. Japanese seed rounds often use a local convertible instrument modelled on the SAFE, while priced rounds issue preferred shares under Japanese company law. Korean rounds commonly use convertible notes or redeemable convertible preferred shares, and government-matched funds attach their own conditions. Chinese rounds depend on whether the vehicle is US-dollar or renminbi, with offshore holding structures for the former and domestic entities for the latter.

The table summarises what each type asks for and the shape of the terms. Where a corporate venture arm invests, expect commercial agreements, such as distribution or licensing arrangements, to be negotiated alongside the investment and read them with the same care.

Investor typeTypical diligence requestsCommon instrumentOwnership expectationGovernance and reporting
Chinese independent firmFull data room, structure review, regulatory review, management referencesPreferred shares in an offshore holding company, or domestic equity for renminbi fundsLead stake with reservesBoard seat, protective provisions, sometimes redemption rights
Chinese seed fundDeck, founder interviews, product demoConvertible or small priced roundMinority stakeInformation rights
Japanese independent firmBusiness plan with milestones, financials, product and referencesLocal SAFE-style convertible at seed; preferred shares at Series AMinority stake for the leadBoard or observer seat, monthly reporting in Japanese
Japanese corporate VCStrategic-fit assessment plus standard diligencePreferred shares, often co-investingMinority stakeObserver seat, commercial agreements alongside
University-linked deep-tech fundTechnical and IP review, research-team interviewsPriced round or convertibleMinority stake, sometimes large at pre-seedBoard seat, IP licensing conditions
Korean financial-group VCDetailed financial plan, compliance checks, referencesRedeemable convertible preferred shares or convertible noteMinority stakeBoard or observer seat, government-fund reporting
Korean corporate or platform VCStrategic fit, product integration reviewFollows round instrumentMinority stakeObserver seat, partnership agreements

What mistakes should you avoid, and what does the sponsored block mean?

The common errors are treating the three markets as one, sending English-only materials without a local-language version, and arriving without an introduction and expecting the inbound form to carry the process. Founders also underestimate the weight corporate investors place on strategic fit and the length of time government-linked funds need to complete their own approvals. A more subtle mistake is to accept commercial side agreements from a corporate investor without checking how they constrain later rounds or an eventual sale.

On the directory itself: a fund, accelerator or agency can claim a sponsored position at the top of this page for a daily bid. Sponsored listings are advertising, are disclosed as such and are ordered purely by bid. They have no influence on which organisations the editors include in the free list, on how any entry is described or on any guidance published elsewhere on kurums.com. Every non-sponsored entry is listed free because the editors judged it relevant to founders raising in China, Japan or Korea.

For profiles of each firm and the editors' notes on all three markets, read the Kurums guide to the top venture capital firms in China, Japan and Korea. Top venture capital firms in China, Japan and Korea

Frequently asked questions

Can a foreign founder raise from venture firms in Japan or Korea?

Yes, and several independent Japanese and Korean firms run bilingual processes. Expect diligence and legal work in the local language, and consider the government startup programmes, which are designed to introduce foreign founders to local investors.

What is the difference between a US-dollar fund and a renminbi fund in China?

They have different limited partners, invest through different legal structures and face different restrictions. A US-dollar fund usually invests in an offshore holding company; a renminbi fund invests in a domestic entity. Which one can invest in your company depends on your structure and sector.

Why are so many East Asian investors corporate venture arms?

Large industrial, financial and platform groups in Japan and Korea have historically been the main source of venture capital, and they continue to invest for strategic as well as financial reasons. Their processes include a strategic-fit review, and commercial agreements often accompany the investment.

How are firms selected and ordered on this page?

Editors include firms that are active in venture investing in China, Hong Kong, Japan or Korea and relevant to founders raising in 2026, listed alphabetically. Sponsored listings sit in a separate labelled block ordered by daily bid and do not affect the free list.

How this directory is compiled

Every organisation on this page was added by our editors from publicly available information: its name, what it does in one line, and a link to its own site. No fund or agency paid to be listed in the free section, none was asked for approval, and inclusion here is not a recommendation or an indication that it is currently investing — it is a starting point for a target list you should verify yourself.

The block at the top of the page is different and is labelled as such. Positions there are paid: a fund, accelerator or programme chooses a daily bid and a number of days, pays once, and sits above the free listings for that period, ordered by bid. That is advertising, it is disclosed on every listing, and it has no influence on our editorial guides in the Venture Capital hub or on the Kurums Trust badges, which are never for sale.

Fund sizes, cheque sizes, application windows and programme terms change constantly, so we keep descriptions short and factual and leave dated figures to the editorial guides. Check the organisation’s own site before you approach it, and treat any directory — including this one — as a list of candidates rather than an answer.