Linear Venture

Linear Venture, also known as Linear Capital, is a Shanghai-based early-stage venture capital firm founded in 2014 by Harry Wang — a founding employee of Facebook — and Michael Zhang, a former JD.com and Alibaba Tmall executive. The firm focuses on frontier technology applications, with core investment sectors spanning AI software and applications, AI hardware and embodied intelligence, robotics, new energy and materials, and innovative biomedicine. Linear manages over $2 billion across ten funds, with a combined portfolio valuation of approximately $30 billion and a team that has grown to 23 members with three partners. The firm leads investments from angel through Series A stages, writing checks of $1 million to $10 million per project, and has backed over 170 companies — including 6 unicorns. The most prominent exit is Horizon Robotics, which IPO'd on the Hong Kong Stock Exchange in October 2024 at a $6.69 billion market cap. Other notable exits include Baixing, which listed on the Shanghai Stock Exchange at a $1.34 billion market cap, and the acquisitions of Agile Robots and Dianping. Additional portfolio companies include Tezign, Kujiale, and Rino.ai. Linear made 8 investments in 2024 and continued into 2025 with investments in Final Round AI and Shanghai Weijian Technology. Linear invests across China, Silicon Valley, and Southeast Asia, giving its portfolio companies access to both deep Chinese tech manufacturing ecosystems and global distribution channels. The firm's dual expertise in software applications and hardware manufacturing — particularly in embodied intelligence and robotics — positions it as one of the most active Chinese early-stage technology investors bridging Asian industrial capabilities with global markets.