Xiang He Capital

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  • Empowering Entrepreneurs, Changing the World

    Xiang He Capital is a venture capital fund focusing on early-stage opportunities in artificial intelligence, robotics, automotive technology, new energy and other businesses.

Long-term Companion for Tech Entrepreneurs

Xiang He Capital focuses on capturing early-stage opportunities in tech revolutions and innovations. Leveraging its strategic analysis capability, Xiang He Capital seeks and supports companies with disruptive tech innovations and high-growth potential, and accompanies and empowers their innovation, pursuit of excellence and becoming leaders in their own fields.

Our founders, Hesong Tang and Maggie Yang , previously led Baidu's strategic investment and M&A team and executed a series of investments and M&A deals, including those with profound impacts on China's internet industry at that time, such as iQiyi, Qunar, PPS, 91 Wireless, Kuaishou, Beike, etc., record-setting in China both in terms of total amount of investments and total number of investments.


Seeking and Empowering Entrepreneurs

  • Xiang He is one of our most important investors and has provided valuable support to us ever since our Series B round financing. I have always admired the insightfulness and strategic thinking capabilities of Xiang He team, especially Hesong. Up until today, I still regularly exchange views with Xiang He team on our strategic directions, industry dynamics and landscape, etc.


  • Seven years ago, Xiang He led the investment in Yunmanman with its unique understanding of China’s trillion-yuan logistics industry and has continued its support to us. Seven years later, as a top-notch investor in the logistics industry, Xiang He invested in Yunmanman Cold Chain, a spin-off from us. We deeply appreciate Hesong and the rest of Xiang He team for their trust and support and we have become closest friends and allies. It is with such trust and support that we could pursue our mission of “empower enterprises with greater logistics competitiveness”.


  • Xiang He Capital has been one of the most important partners to us since the incorporation of iQiyi. Hesong and his team has provided invaluable support and professional advice to us at many critical moments in the development of iQiyi. I am very impressed by Xiang He team’s forward-looking prospective in identifying new investment opportunities and new trends. Our most frequent discussion topics include e.g., how could new technologies change the industry, and how to create new opportunities.

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Accompanying and Supporting Portfolio Growth

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Strategic Analysis-Driven Investments

Xiang He Capital has assembled a team of professionals that keeps evolving with diverse background, including senior members from Baidu's Strategic Investment and M&A department and other top technology companies. Our team has strong strategic analysis capabilities and rich investment experience. Team cooperation and use of collective wisdom is a hallmark of Xiang He Capital.