About This Fund
MindWorks Capital (概念资本, Gàiniàn Zīběn) is a pan-Asia venture capital firm headquartered in Hong Kong, with additional offices in Beijing, Shanghai, and Jakarta. Founded in 2013, MindWorks has built a differentiated cross-border investment platform that bridges Greater China and Southeast Asia — markets with distinct opportunity profiles that reward locally embedded expertise and cross-regional access rather than a single generalist approach. As of its Fund IV close in October 2024, MindWorks manages approximately $1.4 billion in total assets across its fund vehicles, cementing its position as one of the largest dedicated pan-Asia VC firms not affiliated with a major corporate or sovereign institution.
MindWorks operates a bifurcated strategy calibrated to the specific stage characteristics of its two core geographies. In Greater China, the firm targets Series A investments in innovative and disruptive companies — backing the highest-conviction early bets before competitive dynamics intensify. In Southeast Asia, MindWorks focuses on Series B-stage companies with proven business models, prioritising logistics technology, financial technology, and enterprise software — sectors where Southeast Asian consumer and SME adoption curves are most rapidly converging toward Chinese and global benchmarks. This stage-geographic alignment allows the firm to deploy capital where its analytical edge is highest and avoid crowded areas.
MindWorks Capital Fund IV closed in October 2024 at $220 million, exceeding its $200 million target and reflecting continued LP confidence in the team's track record despite a challenging global VC fundraising environment. The firm's total AUM of $1.4 billion spans five fund vehicles. The LP base includes sovereign wealth funds, university endowments, global asset managers, family offices, and Asia new economy entrepreneurs. Notable portfolio companies include Lalamove (HK:2030), the pan-Asia on-demand logistics platform; XTransfer, the B2B cross-border payments leader serving Chinese exporters; and Qupital, the supply-chain finance platform. MindWorks' portfolio reflects its consistent focus on infrastructure-layer and fintech businesses enabling Asia's intra-regional trade and digital economy.