HB Ventures

HB Ventures (Chinese: 木槿资本) is a Shenzhen-based technology-focused venture capital firm founded in 2018 by YT Tsoi. The firm is led by entrepreneurs, operators, and bankers with strong technical and financial backgrounds and affiliations with leading Chinese technology conglomerates. HB Ventures invests from Seed to Pre-IPO in companies with solid traction, bringing capital and corporate networks to accelerate their expansion. The team of 17 includes eight partners, with leadership comprising YT Tsoi as CEO and Founder, Kayla Yuen as Managing Director, Simon Zhou as Director, and Kylie Ho as Director. The firm leads rounds. HB Ventures focuses on Greater China and Southeast Asia, with openness to opportunities in the United States and Europe. Initial tickets range from $1 million to $5 million, with capacity up to RMB 50 to 100 million when partnering with strategic co-investors. Key sectors include semiconductors, AI and machine learning, Web3, advanced manufacturing, biotech, medical equipment, renewable energy, and fintech. The portfolio spans nine or more investments including ChangYi (WeChat-based enterprise SaaS for smart retail), Yizhu Technology (semiconductor CIM design), Pillar Biosciences (DNA sequencing and precision medicine), Laekna Therapeutics (cancer and liver disease therapies, which has achieved an IPO), E-Tronic (automotive semiconductor solutions using third-generation semiconductors), Leto Laboratories (directional protein refolding), MDHC (smart manufacturing for biological consumables in surgery and life sciences), and Shanghai Yilei Femtosecond Laser Technology (femtosecond laser R&D expanding into AI and humanoid robotics). HB Ventures manages multiple strategic fund partnerships — with Huafa Group for growth and pre-IPO deep tech in China and North America; with Xiamen Venture Capital Group and Goldford Group for early-to-growth emerging tech; and with Goldford Group and Web3Labs for early-stage Web3 and AI. The team and partners collectively have backed over 100 technology companies with notable capital markets and M&A outcomes.