In the global expansion of Chinese companies, the role of investment institutions is becoming increasingly crucial: they are not just capital providers but also strategic shapers. Through capital allocation, resource networking, and strategic guidance, capital is continuously propelling Chinese companies overseas, helping them globalize their R&D, production capacity, and channels.
On September 19-20, 2025, the "2025 GoGlobal Forum of 100" (GGF2025), hosted by EqualOcean, successfully concluded in Shenzhen. Centered around the theme "Embrace the Golden Decade of Chinese Brands Going Global", this year's forum focused on the leap to globalization and the reconstruction of brand power for enterprises in the new cycle. As the highest-level and largest event about going global this year, it attracted thousands of participants, including leading representatives from companies that expand overseas, senior experts and scholars, venture capitalists, and several international guests.
During the forum, EqualOcean officially released its series of "EqualOcean 2025 GoGlobal" lists at the awards banquet. These included the "EqualOcean 2025 GoGlobal Emerging Brands TOP 50", "EqualOcean 2025 GoGlobal Service Enablers TOP 50", and the "EqualOcean 2025 GoGlobal Investment Firms TOP 20", honoring the enterprises and organizations that have achieved outstanding accomplishments in the field of global expansion over the past year.
In the recent two years, heightened volatility in global capital markets and geopolitical uncertainties have added complexity to corporate globalization. Yet, simultaneous rapid breakthroughs in hard tech, AI, and new energy have also opened up new growth opportunities for Chinese companies worldwide.
In this process, the role of investment institutions is becoming increasingly crucial: they are not just capital providers but also strategic shapers. Through capital allocation, resource networking, and strategic guidance, capital is continuously propelling Chinese companies overseas, helping them globalize their R&D, production capacity, and channels. The "EqualOcean 2025 GoGlobal Investment Firms TOP 20" showcases representative institutions that have consistently supported the globalization of Chinese enterprises.
Detailed information of the listed companies on "EqualOcean 2025 GoGlobal Investment Firms TOP 20" (In no particular order):
Unity Ventures, Granite Global Ventures, Hillhouse Capital, Gaorong Capital, HongShan, IDG Capital, Meridian Capital, Shunwei Capital, 5Y Capital, Fosun RZ Capital, Blue Lake Capital, ewpartners, CCV, Vision Plus Capital, Vision Knight Capital, Venturous Group, FREES FUND, Next Capital, Lenovo Capital and Incubator Group, 01VC.
The list reveals new trends of capital within the globalization wave. Overall, investment strategies are showing a tendency towards being "earlier-stage and portfolio-driven". Leading RMB and USD funds are operating in parallel, not only securing positions early in key markets like Southeast Asia, the Middle East, Europe, and the US but also achieving more flexible allocation through fund-of-funds, multi-currency funds, and dual-currency structures. Support from capital no longer focuses solely on single markets or channels; instead, through multi-layered, multi-tool approaches, it helps companies simultaneously establish R&D, production, and channel operations globally, providing a more robust foundation for their international journey.
In terms of sector focus, hard tech and AIGC are key areas for investment institutions. From AI foundational models to generative AI tools, from smart hardware and robotics to new energy and DTC (Direct-to-Consumer) global expansion, capital is concentrating on bets that combine "Chinese supply chains with overseas branding." The underlying logic is clear:
On one hand, Chinese companies possess globally leading engineering efficiency and supply chain integration capabilities.
On the other hand, branding capability and overseas market penetration are key to value realization.
The combination of the two means companies can not only leverage advantages in cost and efficiency but also rapidly build scaled influence in the global market.
Against the backdrop of rising global interest rates, trade frictions, and stricter compliance requirements, the risk appetite of investment institutions is also adjusting rapidly. Compared to the previous pursuit of pure high-speed expansion, capital now favors companies with healthy cash flow, stable gross margins, and replicable, compliant models. Co-investment, consortium investment, and follow-on investment have become common strategies to mitigate volatility by diversifying regional and policy risks. This style, blending caution with long-termism, transforms capital from mere short-term fund providers into essential partners for sustainable growth and cross-regional expansion.
More notably, the strategic logic of capital is undergoing a profound shift. Moving beyond the mere pursuit of scaled growth, there is now greater emphasis on corporate governance quality and globalization capability. Investment criteria are shifting from "investing for scale" to "investing for quality". Whether a company possesses cross-regional synergy capabilities, can sustain growth across multiple markets, and has a long-term governance structure are becoming key screening dimensions for institutions. This transformation not only influences investment decisions but also subtly shapes the globalization pathways of Chinese enterprises.
The release of the "EqualOcean 2025 GoGlobal Investment Firms TOP 20" not only highlights the strategic choices of capital but also provides clear direction for globalizing enterprises. At the new starting point of the "Golden Decade of Chinese Brands Going Global", these institutions act as both capital providers and shapers of the globalization ecosystem. EqualOcean will continue to monitor the interaction between capital and enterprises, jointly witnessing more Chinese companies making their mark on the world stage.
Since 2018, EqualOcean has been dedicated to tracking and analyzing the global expansion of Chinese enterprises. We welcome contributions from industry professionals to share your expertise and insights. Companies seeking international growth, media exposure, or discussions on overseas strategies are also encouraged to contact us directly.
You can reach us via WeChat at xyrnina or by email at xingyiran@iyiou.com.