INCE Capital
Est. dry powder
$133.4M
Raised, not yet invested
AUM
$1B
Assets under management
Latest fund
—
INCE Capital Partners III, size not reported
Est. cheque size
$1.7M–
From fund sizes
Deals, last 12 months
12
Last seen investing Sep 2026
About INCE Capital
INCE Capital is a private equity firm based in China. The firm focuses on venture opportunities. It invests in a diversified range of industries, including business services, consumer discretionary, energy, healthcare, industrials, information technology, raw materials and TMT in China.
- Type
- Venture Capital Firm
- Headquarters
- Shanghai, Shanghai, China
- Stages
- AngelSeedSeries ASeries BSeries CSeries DSeries ESeries F+1
- Est. cheque size
- $1.7M–$12.6M
- Sectors
- Consumer Discretionary, Information Technology, Industrials
- Regions
- Asia
- Strategies
- Growth
Where they invest
From deals and portfolio companies on record
Most frequent rounds
- Series A19
- Series B16
- Series C10
- Seed5
- Angel4
Across 77 deals
Portfolio sectors
- Software9
- Biotechnology6
- Internet5
- Consumer Products4
- Business Support Services3
Across 54 companies
Portfolio countries
- China38
- US11
- Germany2
- Singapore2
- France1
Across 54 companies
Recent investments
Newest 5 of 77
- Series B$446.5M
Tripo
Sep 2026 · Series B
- Series B$446.3M
VAST
Sep 2026 · Series B
- Series A$147.2M
VAST
Jul 2026 · Series A
- Series B$300M
LiblibAI
Jun 2026 · Series B
- Series A$200M
VAST
Jun 2026 · Series A
Offices
4 locations
- Shanghai, Shanghai, ChinaHQ
- Hong Kong, Hong Kong SAR - China
- Beijing, Beijing, China
- Grand Cayman, Cayman Islands
Questions about INCE Capital
How much does INCE Capital invest per deal?
Based on the size of its funds, INCE Capital writes estimated cheques of $1.7M–$12.6M. Lead cheques usually sit at the top of that range and follow-on cheques lower.
What stages does INCE Capital invest in?
INCE Capital has invested at Angel, Seed, Series A, Series B, Series C and Series D. Its most frequent rounds on record are Series A, Series B and Series C.
How much capital does INCE Capital have left to invest?
INCE Capital has an estimated $133.4M in dry powder: capital it has raised but not yet invested.