Puhua Capital was selected by China's National SME Development Fund to help direct state-backed funding into early-stage, hard-tech companies, including a Hangzhou-based fund that channels national capital into the city's growing tech sector. The firm is also known for backing embodied-intelligence robotics, including the largest angel round in consumer robotics, and for repeatedly investing alongside top state and industrial investors in major AI, chip, and synthetic biology deals, such as one with Kweichow Moutai.