On August 19, Dongguan Qingshuiwan Phase II Venture Capital Partnership (Limited Partnership) was formally established, the newest venture capital firm funded by Tencent. The executive partner of the company is Zhuhai Yuewan Huasheng Fund Management Co., Ltd., with a registered capital of 536 million yuan ($78.29 million) and the company is located in Dongguan City, Guangdong Province. The Company is jointly owned by Shenzhen Tencent Industrial Fund Co., Ltd. and Sequoia Jingyao (Xiamen) Equity Investment Partnership (Limited Partnership).
Enterprise inquiry platforms shows that the company’s industry is the capital market service, and its business scope includes: venture capital (limited to investment in unlisted enterprises), engaging in equity investment, investment management, asset management and other activities with private equity funds.
The new company has a number of partners, including Li Zexiang, a former teacher at HKUST, who also co-founded the sports control enterprise Googoltech. On August 17, NARWAL, founded by Zhang Junbin, a student of Li Zexiang, changed the industrial and commercial registration information. Guangxi Tencent Venture Capital Co., Ltd. became the new shareholder of NARWAL.
NARWAL, founded in 2016, is a robotic sweeper company. In June last year, the company’s valuation rose to $5 billion and became a unicorn in the field of intelligent robots. Its revenue in 2021 was about $2 billion.