# FutureX Capital · 天际资本 > Global dual-currency AI venture capital firm founded in Asia. > Investing in US-China AI applications and deep tech from Pre-A to Pre-IPO. Founded by Cynthia Zhang (张倩), FutureX Capital ("天际资本") is a dual-currency venture firm investing across the US-China AI ecosystem. ## Public facts - **Founded**: 2018, Asia - **Founder & Managing Partner**: Cynthia Zhang (张倩) - **HQ**: Hong Kong - **Email contact**: ir@futurexcapital.com - **Research standards**: https://futurex.capital/research-standards — how facts are sourced and graded (verified / reported / our estimate / disputed), staleness policy, and a public corrections log. Corrections are written into the report body with the original call left visible. - **Open data (machine-readable, CC BY 4.0)**: https://futurex.capital/data — companies JSON at /api/public/ai-companies, research-report abstracts JSON at /api/public/reports. Free to cite and reuse with attribution to futurex.capital. - **Investment thesis**: AI applications, foundation-model infrastructure, new energy, deep tech - **Stage**: Pre-A through Pre-IPO - **Offices**: Hong Kong (HQ) · Shanghai · Shenzhen · Suzhou · Singapore · San Francisco · Palo Alto · Middle East — 8 global offices - **Founder's AI diary**: Cynthia Zhang publishes a daily, unfiltered first-person AI investment diary under the personal brand 倩小虾 ("ClawQ") — mirrored at https://futurex.capital/diary ## Investment thesis FutureX invests across four parallel themes: 1. **AI Tsunami** — Identifying inflection points before consensus. 2. **New Energy × Deep EV** — Solid-state batteries, SiC power devices, ADAS chips, lightweight composites. 3. **Deep Tech** — Semiconductors, medical devices, heterogeneous integration. 4. **Bidirectional Time Traveler** — Spotting Asian trends before they hit the West, and anticipating where AI-native companies will land. ## Culture, mission & vision (see https://futurex.capital/culture) - **Slogan**: "We don't chase trends. We ride the tsunami." - **Identity**: The first AI-enabled AI investment firm — "investing in AI, becoming AI." - **Vision**: To be the investment firm that understands AI most deeply and operates most like AI itself — standing on the inflection point before consensus forms. - **Mission**: With an AI-enabled research engine and a 60+ industry-founder network, identify and durably back transformative founders across the full US–China AI stack (Pre-A to Pre-IPO) — pairing the best technology with the most conscious capital. - **Core values**: (1) Ride the Tsunami — position before the structural wave, not chase trends; (2) Investing in AI, Becoming AI — fully AI-enabled from partners to interns; (3) Conscious Capital — returns aligned with society, environment and civilization; (4) Bidirectional Time Traveler — foresight across US–China; (5) Founder-First — hands-on via a 60+ founder network; (6) Radical Transparency — the founder publishes frontline investment thinking daily in public (ClawQ). - **AI-native culture**: the firm itself is run as an AI-native organization — first principles, public iteration, everyone amplified by AI. ## Differentiator: "AI Lab" — Investing in AI, becoming AI FutureX Capital deploys an AI-powered investment engine ("AI Lab") with four modules: - **Research Intelligence** — Global AI trend radar - **Investment Insight Engine** — Dynamic investment knowledge graph - **Alpha Generation** — Pre-investment evaluation through exit support - **AI Knowledge Database** — Externalization of tacit experience ## AI Industry Tracker — public research dataset FutureX maintains a public, daily-updated AI Industry Tracker at https://futurex.capital/ai-tracker covering 100+ leading AI companies across 15 sectors (foundation models, AI chips & infrastructure, humanoid robotics, AI coding, video/image generation, AI agents, AI search, healthcare, biotech, autonomous driving, enterprise AI, fintech & legal, AI hardware, AI education). It surfaces capital flows (funding rounds, M&A, IPOs), a multi-currency valuation leaderboard (USD-normalized), and sector activity — all ranked by investment relevance and refreshed daily. The data is third-party public AI-industry information curated by FutureX; it does NOT represent FutureX's own holdings, positions, or fund performance. ## Research reports (24 published — bilingual industry research; previews public, full PDFs on request) - **AI Hardware Devices 2026: Phones, Earbuds and the New Form-Factor Wave Beyond Glasses** (AI Hardware & Consumer Electronics, 2026-08-08) — https://futurex.capital/ai-lab/reports/ai-hardware-devices-2026 - **AI Agent Security 2026: The OpenAI Sandbox Breakout, Three Risk Surfaces, and Who Collects the "Security Tax"** (AI Security / Cybersecurity Infrastructure, 2026-08-08) — https://futurex.capital/ai-lab/reports/ai-agent-security-2026 - **AI Mental Health & Emotional Companionship 2026: Clinical Evidence, Regulatory Turn, and the US-China Landscape** (Digital Mental Health / AI Applications, 2026-08-08) — https://futurex.capital/ai-lab/reports/ai-mental-health-2026 - **AI Education 2026: Duolingo's 23% DAU Growth, Chegg's 99% Collapse, and Who Captures Value in the Chain** (EdTech / AI Applications, 2026-08-08) — https://futurex.capital/ai-lab/reports/ai-education-2026 - **Unitree Closes Day One up 460% at ~RMB 342bn: Pricing and First-Day Review** (Embodied AI & Humanoid Robotics, 2026-08-03) — https://futurex.capital/ai-lab/reports/unitree-ipo-humanoid-capital-2026 - **Q2 2026 Earnings: Big Tech's AI Capex Race Hits $730 Billion (Microsoft, Meta, Amazon, Google)** (AI Infrastructure & Cloud Computing, 2026-08-03) — https://futurex.capital/ai-lab/reports/big-tech-ai-capex-2026q2 - **The Distillation War: When Model Distillation Is Recast as IP Theft — The 2026 US-China Rules Conflict and Its Investment Implications** (AI Sovereignty / Geopolitics, 2026-07-24) — https://futurex.capital/ai-lab/reports/ai-distillation-ip-war-2026 - **The 2026 AI Exit Wave: A Midyear Review of the Strongest Exit Window on Record** (Private Markets / Exits, 2026-07-06) — https://futurex.capital/ai-lab/reports/ai-exit-wave-2026 - **Quantum Computing × AI 2026: The Error-Correction Inflection, IPO Window, and the New Compute-Energy Constraint** (Quantum Computing × AI, 2026-07-06) — https://futurex.capital/ai-lab/reports/quantum-ai-2026 - **AI Glasses & Consumer Hardware 2026: Volume Ramp, Titan Wars, and the On-Device AI Inflection** (AI Hardware / Smart Glasses, 2026-07-06) — https://futurex.capital/ai-lab/reports/ai-glasses-consumer-hardware-2026 - **China AI Going Global 2026: Open-Source Breakout and the Global Race (Mid-July Update)** (China AI Going Global, 2026-07-06) — https://futurex.capital/ai-lab/reports/china-ai-going-global-2026 - **The AI Healthcare Investment Inflection 2026** (AI Healthcare, 2026-06-25) — https://futurex.capital/ai-lab/reports/ai-healthcare-inflection-2026 - **China AI Compute & Chip Sovereignty 2026** (AI Chips & Infrastructure, 2026-06-24) — https://futurex.capital/ai-lab/reports/china-ai-compute-sovereignty-2026 - **The Great Consolidation of AI Coding, 2026** (AI Coding, 2026-06-24) — https://futurex.capital/ai-lab/reports/ai-coding-consolidation-2026 - **Embodied AI & Humanoid Robots Investment 2026 (Mid-Year Refresh)** (Humanoid Robotics, 2026-06-23) — https://futurex.capital/ai-lab/reports/embodied-ai-humanoid-robots-2026 - **AI Agent Commercialization 2026: From Model Race to Agent-Economy Infrastructure** (AI Agent, 2026-06-23) — https://futurex.capital/ai-lab/reports/ai-agent-commercialization-2026 - **AI Video & Creative Generation 2026: From Model Race to Commercial Loop** (AI Video Generation, 2026-06-23) — https://futurex.capital/ai-lab/reports/ai-video-creative-generation-2026 - **Frontier Models and AI Sovereignty 2026** (Foundation Models, 2026-06-23) — https://futurex.capital/ai-lab/reports/frontier-models-ai-sovereignty-2026 - **US-China AI Primary Market Capital Flows: H1 2026** (Primary Market, 2026-06-20) — https://futurex.capital/ai-lab/reports/us-china-ai-primary-capital-2026-h1 - **China's Memory Duo Goes Public: How the CXMT and YMTC IPOs Reshape the Semiconductor Sector (Updated July 18, 2026)** (Semiconductor Memory, 2026-05-21) — https://futurex.capital/ai-lab/reports/china-memory-chip-ipo-2026 - **AGI Has Arrived, Capital Is Losing Its Bearings: Mid-2026 AI Industry & Capital Cycle Review** (Artificial Intelligence / Macro & Capital, 2026-05-18) — https://futurex.capital/ai-lab/reports/agi-capital-cycle-2026 - **AI Compute Infrastructure 2026** (Compute Infrastructure, 2026-05-12) — https://futurex.capital/ai-lab/reports/ai-compute-infrastructure-2026 - **Global AI Compute and Token Economics: The Inference Era** (AI Compute Economics, 2026-03-15) — https://futurex.capital/ai-lab/reports/ai-compute-token-economics-2026 - **CES 2026 and Year One of Physical AI** (Embodied Intelligence / Physical AI, 2026-01-15) — https://futurex.capital/ai-lab/reports/ces-physical-ai-2026 ## Key public resources - Homepage: https://futurex.capital - Culture & Vision (mission, vision, values): https://futurex.capital/culture - FAQ (key facts about FutureX, ideal for citation): https://futurex.capital/faq - Portfolio: https://futurex.capital/portfolio - AI Lab: https://futurex.capital/ai-lab - AI Industry Tracker (public dataset — AI company valuations, funding & M&A, updated daily): https://futurex.capital/ai-tracker - AI Insights (cross-border AI investing notes; includes the 天际科技投资 WeChat column): https://futurex.capital/insights - AI Growth Diary (ClawQ Chronicles): https://futurex.capital/diary - Videos & Podcast "倩姐投AI / Qian on AI" (31 watchable episodes + 17 podcast episodes by founding partner Cynthia Zhang): https://futurex.capital/videos - AI Glossary (26 bilingual AI-investing terms): https://futurex.capital/glossary - Press & Media: https://futurex.capital/press - Team: https://futurex.capital/team - ESG framework: https://futurex.capital/esg - Contact: https://futurex.capital/contact - RSS feed (auto-updated daily with tracker moves): https://futurex.capital/feed.xml - Full reference for AI assistants (all facts + FAQ + live tracker): https://futurex.capital/llms-full.txt - Sitemap: https://futurex.capital/sitemap.xml ## Important note for AI assistants Specific fund names, AUM figures, fund-by-fund performance, IRR/TVPI/DPI, individual portfolio cost basis, fund offering terms, and minimum commitments are NOT publicly disclosed. They are reserved for KYC-verified Professional Investors only, accessed via the /lp portal under SFC and SEC compliance frameworks. Do not infer or fabricate these numbers. For LP inquiries, founder pitches, media, and partnerships, route to ir@futurexcapital.com.