Consistently sought out by global and PRC sponsors for their private equity investments in China, Fangda Partners' practice covers public, private and cross-border buyouts (and other equity and debt investments), along with portfolio secondaries and co-investments. Clients further benefit from the team’s leveraging of the firm’s enviable credentials in M&A, leveraged finance, capital markets, fund formation, compliance, and employment law. In Beijing, Jeffrey Ding advises on cross-border acquisitions; Qiang Chen is a highly-regarded private equity and venture capital expert; and Chen Bao is a specialist in capital markets, general corporate matters, and cross-border M&A, private equity and venture capital financing. Other key practitioners are Patrick Li and Ray Xu in Beijing, as well as Shanghai-based Helen Fan and Peng Tan.

Han Kun Law Offices acts for numerous investment institutions and companies on onshore and offshore private equity and venture capital transactions. In Beijing, Charles Li advises on public and private financings, M&A, corporate restructurings, and foreign direct investment; Yijun Chao acts for hi-tech start-ups on their private equity and venture financings, onshore and offshore listings, and M&A deals; David Li‘s experience includes assisting companies with private placements; Zaiguang Lu is a hi-tech sector expert; Sheng Li is ‘highly experienced’; and Yipu Li acts for PRC-based companies on their IPOs. Over in Shanghai, Kelvin Gao and Yinshi Cao assist with private equity investments; Paula Liu‘s clients include international private equity funds; and Cheng Chen has notable private equity experience. Vincent Song specialises in private equity financing.

Highly experienced in both China and overseas private equity, King & Wood Mallesons assists with investment planning and structuring, as well as transaction documents, drafting, deal negotiations, and post-investment management and exits.  In Beijing, Mulong Gong, who is experienced in fund formation, fundraising and investment, acts for venture capital, private equity, M&A and special purpose funds; Ma Tianning‘s practice covers private investment projects, M&A, foreign direct investment, and cross-border and domestic IPOs; and Hu Jing acts for institutional investors, unicorn enterprises and growth companies in China and abroad. Over in Shanghai, Richard Nie specialises in corporate, M&A, private equity and venture capital; and Shenzhen-based Liguang Ren advises private equity funds and venture capital companies on their investments.

Zhong Lun Law Firm acts for major private equity and venture capital firms, as well as emerging growth companies, on high-profile transactions. The practice covers fundraising and fund formation, along with investment activities, compliance and portfolio management. In Beijing, Victor Yu is a key figure in the private equity and venture capital group; Tian Liu is a cross-border specialist; and Evan Zhang advises on domestic and offshore private investment funds. Over in Shanghai, Catherine Chen leads the private equity and asset management department (alongside Beijing’s Borong Liu); Shaun Gao advises on investments and financings; Roy Zheng focuses on private equity and overseas capital markets in the life sciences, healthcare and fintech sectors; and Luke Zhang and Raphael Liu are both experienced in private equity and venture capital investments. 

Known for its TMT, life sciences and energy industry expertise, DaHui Lawyers is also increasingly involved in emerging areas such as Generative AI, EdTech and automotive intelligent transport systems. The private equity and venture capital practice acts for investors and target companies at all stages of financing, from angel to pre-IPO. The team also handles take-private transactions and capital restructurings. Working across Beijing and Shanghai, Brendon Wu advises both established and early-stage Chinese internet entrepreneurs on financings; and Shanghai-based Julia Dai is experienced in private equity and venture capital investments (in China and overseas). Dividing his time between Beijing and New York, Zheng Zha focuses on M&A and corporate finance, while Chris Chen in Beijing is another key adviser.

Global Law Office advises a raft of foreign and domestic private equity and venture capital funds on their portfolio investments in China. The team also assists onshore and offshore companies with private equity financings, fund formation, investment structures, legal due diligence, transaction documents, and obtaining government approvals. The practice is co-led from Shanghai by Steven Yu, an adviser to funds and internet giants on their investments in China-based TMT companies; and Jeffrey Zhu, who acts for a range of major private equity clients. The group further showcases private equity and venture capital specialist Jinrong Liu; Shifang Guo, an expert in cross-border M&A, and private equity and venture capital investments; and Evan Sun, whose workload covers the education, food, chemicals, manufacturing, automobile, finance, pharmaceuticals, telecoms, internet, and entertainment sectors. Guo Jia and Michael Yu are other names to note.

Haiwen & Partners, which acts for private equity funds and start-ups on significant investment projects, consistently leverages the firm’s notable strengths in capital markets, IP, tax, compliance and antitrust. In Beijing, Jiping Zhang is an expert in M&A, foreign direct investment, capital markets and project financing; Shuangjuan Wei is experienced in equity investments, securities offerings, funds and asset management; Jie Lan and Weibo Jiang are both M&A specialists; Yunpeng Fan advises global and Chinese corporate clients and investment funds on M&A; and Jackson Tang, who works between Beijing and Shanghai, focuses on cross-border transactions. In February 2024, Benran Huang, an adviser on growth capital and co-investment deals, was hired for the firm’s Beijing and Shanghai offices from Zhao Sheng Law Firm.

JunHe LLP’s private equity and venture capital practice acts on the gamut of private equity work. The team’s expertise ranges from seed, start-up, growth and maturity stages, to IPOs, M&A, restructuring, buybacks and exits. Other key areas are fundraising, LBOs, going-private transactions and recapitalisations. In Shanghai, Nelson Zhou‘s track record includes advising major private equity sponsors on divesting their investments in China; Binxue Sang‘s wide-ranging practice covers significant private equity and venture capital matters; Joe Chen is experienced in transactions involving the pharmaceutical, medical devices, TMT and automotive sectors; and Ning Liu focuses on the pharmaceutical, healthcare, investment banking and consumer goods industries. Sammuel Zhao, Cathryn Jin and Zheng Xie are the names to note in Beijing.

The scope of service at full-service law firm Shihui Partners ranges from legal due diligence, to drafting, reviewing and negotiating transaction documents. The private equity team also routinely issues legal opinions; assists with approvals, applications and filings; and advises on the establishment of share incentive plans. In Beijing, George Niu specialises in venture capital and private equity transactions, securities offerings and cross-border M&A; Miranda Jiang's workload includes domestic and overseas listings, foreign direct investment, and the establishment and dismantling of red-chip structures; the sector expertise of Xiaomei Li includes AI, TMT, healthcare, entertainment and education; and Vicky Gong advises on private equity deals, M&A and wealth management. The practice also features private equity fund formation and investment expert Zhao Liang.

The investment funds and venture capital practice at AllBright Law Offices covers fund establishment, registrations, foreign investments, fund management, and dispute resolution. Fuzhi Lin in Xiamen advises on private equity investment funds, while Shaojun Huang in Chengdu acts on the entire life cycle of private equity investments. In Shanghai, Yan Chen is an expert in large state-owned assets and government industry funds; Chengwei Peng is experienced in private equity-related investments and financings; and Congjun Wen assists with private equity financings.

Han Yi Law Offices, which is particularly experienced in the TMT, e-commerce and healthcare sectors, fields experts in private equity, venture capital, hedge and industrial investment funds. The firm also assists private equity and venture capital clients with capital markets and disputes. In Shanghai, Linda He is sought out by international private equity investors and PRC fund managers to advise on China investment deals; while Anna Yu routinely advises on private equity investments. Beijing-based Liang Chen is ‘a go-to lawyer’.

Jingtian & Gongcheng's private equity and venture capital team recently completed hundreds of investments and financings. Its coverage encompasses company establishments, seed capital, pre-IPO rounds, and a range of investment currencies. Beijing-based Zhengzheng Hu advises domestic and foreign private equity funds on M&A and equity investments. In Shanghai, James Yong Wang is an experienced private equity, venture capital and investment funds lawyer; and Willard Wang's sector expertise includes consumer goods, healthcare, biotechnology, finance, AI, TMT, and real estate.

Llinks Law Offices assists angel and strategic investors, along with venture capital, private equity, government guidance and industry funds, with fund formation and fundraising. The practice is also experienced in investments and exits. In Shanghai, Nicholas Lou advises foreign and domestic private equity funds that invest, acquire and sell portfolio companies in China; Selena She acts for emerging companies, financial institutions, investors, and venture capital and private equity firms; and Colin Shi has notable private equity and venture capital experience.

Merits & Tree Law Offices advises private equity and venture capital funds, start-ups, unicorns, and multinational companies on domestic and cross-border investments and M&A. It is particularly experienced in the TMT, life sciences, healthcare, advanced manufacturing, new energy, consumer goods, retail, and entertainment sectors. In Beijing, Youyuan Jin is a private equity investment and financing specialist; while Xiaoxing Guo's track record encompasses hundreds of financings and M&A deals. Wenchao Wang in Shenzhen advises on private equity and venture capital investments.

Advising Chinese and overseas funds, along with corporate clients, Tian Yuan Law Firm has notable experience in private equity investments in the life sciences and hi-tech sectors. The team also comprises experts in the AI, consumer, education, healthcare, new energy, film, television, and blockchain sectors. Recent highlights for Beijing-based private equity financing head  Jiayun Xie include assisting investment institutions and start-up companies with numerous private equity financings. In Shanghai, Yuting Dong's practice includes private equity and foreign direct investments.

Zhao Sheng Law Firm, which benefits from a joint operation with global law firm Linklaters, comprises specialists in cross-border private equity transactions. The practice covers equity financing, trade sales, fund formation, exits, and minority and strategic investments. Shanghai-based Richard Gu assists with China-related cross-border M&A and joint venture transactions in the consumer, healthcare, automotive, real estate, industrials and technology sectors; and Colette Pan advises on outbound and inbound M&A transactions. Former managing partner Eric Liu departed the firm in December 2023.

AnJie Broad Law Firm's sizeable private equity and venture capital investment practice covers a range of industries, including AI, high-end manufacturing, social networking, e-commerce, and ESG. The firm’s sector expertise also encompasses sports, fintech, biopharmaceuticals, medical services, retailing, and catering. In Shanghai, Hans Cai is a commercial transactions specialist; Ting Yao focuses on M&A, investments, financing and corporate compliance; and Yin Zhang advises domestic and foreign private equity funds.

Commerce & Finance Law Offices routinely advises both lenders and investors on private equity projects that involve large-scale financings. The team also handles fund manager registrations, and the establishment and registration of private equity and industrial investment funds. In Beijing, Xiaoman Zhang focuses on capital markets, including domestic and overseas IPOs; while the sector expertise of new economy specialist Xinyang Zhang covers e-commerce, AI, big data and cloud computing (among others).

Dacheng is sought out by private equity funds and venture capital investors to advise on significant investments. The team also assists with exits. In Beijing, Qing Guo is an investment and financing specialist; Joanna Liu advises on domestic and cross-border private equity investment transactions; and Yan Ding routinely advises private fund managers. The sector expertise of Shanghai-based Chambers Yang covers TMT,  finance, healthcare, real estate, infrastructure, and manufacturing.

Recent activity for Jincheng Tongda & Neal's private equity practice group includes completing a series of financings for Chinese science and technology start-ups, particularly in relation to new energy, bio-genetics and chip manufacturing. The wide-ranging expertise of Beijing-based team head Lingyan Peng covers private equity investments; Yuhao Xie in Nanjing advises on private equity and venture capital; and Xiaodong Zheng (also in Beijing) acts on foreign direct investments and IPOs.

DeHeng Law Offices' private equity team is experienced in capital markets, refinancings, M&A, regulatory issues, and compliance work. The practice’s principal figures are Weifeng Guo, whose track record includes assisting with the legal structuring, design, fundraising and establishment of hundreds of private equity and venture capital entities; private equity, real estate, M&A and industry funds specialist Zhonggang Zhang; and Zhiwei Hou and Lei Zhang, whose wide-ranging practices encompass private equity.

Guantao Law Firm’s cross-industry team fields specialists in government-guided and offshore funds, as well as start-up financing projects and cross-border investments. The practice’s sector expertise comprises healthcare, communications, education, automotive, aerospace, and TMT. In Beijing, Yang Wang's private equity funds expertise covers establishment, fundraising, investment, compliance, exit and liquidation work; and Fei Xiao is an experienced private equity and venture capital practitioner. Ronald Xu  is another key figure.

Hylands Law Firm is particularly focused on the automotive, real estate and financial services sectors. In relation to private equity and venture capital fund transactions, the team assists with transaction structuring, legal due diligence, and closing and post-closing matters. In Beijing, practice head Zhitong Zhu specialises in private equity and venture capital investments, M&A and fund-related work; and Zhang Shuo’s workload encompasses domestic and overseas private equity investments.

PacGate Law Group has longstanding experience in advising strategic investors, entrepreneurial businesses, and venture capital and private equity funds on domestic and international investment and financing projects. The Beijing-based practice is led by founding partner Justin Chen, whose track record includes completion of multiple financing rounds and other significant transactions. Providing key support, Amy Deng is experienced in venture capital, private equity financing and foreign direct investment.