徐昌芬

合伙人, Addor Capital
Xu Changfen uniquely combines a VC partner role with personal co‑investment—a rarity in China's VC scene—and serves in government decision‑making think tank capacities, lecturing party, government and SOE officials.
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Geos their fund invests in
China
徐昌芬
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Climate
Health
Deeptech / Hardware
Materials
Biotech
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About 徐昌芬

徐昌芬在毅达资本担任合伙人的同时,还以个人名义直接出资参与基金项目,这种既做机构投资又用自己资金跟投的双重身份在中国本土VC体系中相对少见。她被江苏淮阴区委书记邀请向地方党政和国企系统讲授股权投资,体现了她既做市场化投资又深度参与政府决策智库的角色。

About their Fund

Addor Capital

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Climate, Health, Deeptech / Hardware, Materials, Biotech
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Addor Capital originated as a government-founded VC arm of Jiangsu provincial government and later restructured into a private firm while maintaining formal funding and strategic relationships with the province, creating a hybrid public-private capital base with roughly half its fund capital from government sources and the rest from wealthy individuals and financial institutions. The firm operates one of the largest RMB VC/PE platforms in China with about RMB 106.6 billion under management and maintains an unusual depth of local presence in Jiangsu province with eight of its 16 offices concentrated there, while also serving as a go-to investor for complex, long-horizon space and satellite-related deals in China's commercial space sector.

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