Jonathan Zhu joined Bain Capital in 2006. He is a Partner and the Chair of China for the firm. Jonathan has led many of our investments in China and is currently focused on the Financial and Business Services and Healthcare verticals. 

Prior to joining Bain Capital, Jonathan was an investment banker at Morgan Stanley and CEO of its China business sector.

Jonathan received a JD from Cornell Law School, an MA from Nanjing University, and a BA from Zhengzhou University in China.

Ben Hart is a senior managing director and head of Evercore’s Asia Private Capital Advisory division. He is based in Singapore.

Mr. Hart has more than 20 years of experience in private markets fundraising, institutional investor relations, capital formation and business development across the Asia-Pacific region. He previously served as partner and head of investor relations (Asia) at Adams Street Partners, where he led the firm’s business development and client-service efforts across institutional and private wealth channels.

Calvin Huang is Private Markets Leader of Greater China at SAP. He is a seasoned leader with deep‑rooted relationships across the private equity, venture capital, and startup ecosystems in Greater China. Before joining SAP, Calvin drove strategic engagement with more than 40 venture capital firms and supported the growth of over 400 high‑potential startups at AWS. Previously, he co‑founded and scaled a global incubator with operations in more than 20 innovation hubs worldwide, including Shanghai, Berlin, Silicon Valley, Tel Aviv, Seoul, and Helsinki. He also managed a ¥1 billion RMB early‑stage fund (approximately USD $140 million), investing in more than 700 startups across China.

Chen (Jason) Wang joined KKR in 2012 and is a member of the Greater China Private Equity team, where he leads the firm's efforts in broad Consumer & Retail and selected Tech / New Energy sectors. Mr. Wang has played a significant role in KKR’s investments in Bytedance, Gambol Pet Group, Dayao Beverage, ZJLD Group, Sunner Development, VATS Liquor Chain, Ruichen Pet Vet Chain, Natural Pet Food Group, Xingsheng, Hangzhou Adopt A Cow, United Envirotech (now known as CITIC Envirotech), Jiangsu Yuguan Modern Agriculture, and Sylvan Biotech. He was also actively involved in United Envirotech’s acquisition of Memstar. Mr. Wang is a current board member of Gambol, Dayao, Natural Pet Food Group, and Ruichen. Mr. Wang holds a B.S. in Economics from Tsinghua University, and used to serve as the president of the 14th Finance Association of Tsinghua.

Doris (Partner) is responsible for all aspects of the primary investment process, including fund selection, due diligence, negotiations, monitoring, and general partner relationship management within China.

Prior to joining Adams Street, she was a Senior Associate for Adveq Investment Management Co. Ltd., a global private equity firm, responsible for sourcing and executing growth/buyout funds and secondary investments in China and Japan. Prior to Adveq, she focused on direct investment activity for C.V. Starr Investment Advisory Asia Ltd.

Doris was named one of Private Equity International (PEI)’s 40 under 40: Future Leaders of Private Equity.

Ellen Min is an Executive Director on the Secondary investment team primarily focused on the evaluation and monitoring of non-U.S. secondary opportunities including partnership and GP-led transactions.

Ellen joined Lexington in 2021 from Morgan Stanley, where she was an associate in investment banking, in Hong Kong.  

She graduated from Indiana University, Kelley School of Business with a BS in Accounting and Finance and from Duke University with an MA in Economics.

Eric Wong has 20 years experience in finance and joined BOC Life as head of Alternative Investments in 2022. Before that, he spent most of his career in leveraged & structured finance and investment banking with BOC International, direct investment in Asia private credit (Dignari Capital) and China private equity (ABCI).  

Mr. Wong holds a master degree in global finance from NYU Stern/HKUST, and a bachelor of arts degree from CUHK, majoring in philosophy.

Mr. Frank K. Tang is the Chairman and CEO of FountainVest Partners, a leading Asia based private equity firm with offices in Hong Kong, Beijing, Frankfurt, Shanghai and Singapore.  FountainVest actively invests in the consumer, healthcare, industrial and business service sectors. 

Prior to co-founding FountainVest, Mr. Tang was with Temasek Holdings as Senior Managing Director, where he simultaneously led China investments as well as global telecom, media and technology investments.  As a member of the senior leadership team at Temasek, Mr. Tang served on both firmwide Senior Management Committee and Senior Investment & Divestment Committee. 

Mr. Tang worked at Goldman Sachs for nearly 11 years, first in New York and then in Hong Kong.  Mr. Tang worked in both investment banking and Principal Investment Area, the private equity arm of Goldman Sachs. He was Managing Director and Head of Telecom, Media and Technology investment banking in Asia Pacific for Goldman Sachs prior to joining Temasek.   

Mr. Tang is a board member of Amer Sports, BMTS, and previously served on the board of Accenture (a Global Fortune 500 company), Key Safety System Technology, IMAX China, and Sina Weibo (a top social media platform in China).  He has been a member of the World Economic Forum, a governor of the China Venture Capital and Private Equity Association, a trustee of Donghua University, and a board member of Columbia Business School’s Board of Overseers.   

Mr. Tang was born in Shanghai, and holds a bachelor’s degree from Donghua University in Shanghai and a MBA degree from Columbia Business School in New York.  

Frankie Fang is a Founding Managing Partner of Starquest Capital, a China-focused private equity firm specializing in technology, consumer and healthcare sectors. Mr. Fang leads the firm’s FoF investment practices and oversees its ESG strategy and implementation. Under his leadership, Starquest Capital became the first RMB FoF in China to join the United Nations-supported Principles for Responsible Investment (UNPRI) in 2018 and the first institution in Asia to win the 2019 UNPRI Award for Emerging Markets Initiative of the Year. In 2025, Mr. Fang was appointed as a member of the Listing Committee of The Stock Exchange of Hong Kong Limited, making him the first global FoF industry representative to serve on the committee and setting a new precedent for the industry. 

Prior to founding Starquest Capital in 2017, Mr. Fang served for 12 years as the Head of LGT Capital Partners China. LGT Group is privately owned by the Princely Family of Liechtenstein and manages over USD 100 billion in assets globally. Over the course of his career, Mr. Fang has deployed more than USD 3 billion in the Chinese private equity market and led fund investments in a wide range of top-tier PE/VC vehicles, including CITIC Capital, Sequoia Capital China, Legend Capital, Primavera Capital, Source Code Capital and Gaorong Ventures. He currently sits on the advisory committees of over 20 domestic investment funds in China. 

Within public education, Mr. Fang serves as Guest Lecturer and Adjunct Associate Professor at the University of Hong Kong (HKU). He also acts as Industry Advisor for the CEIBS Entrepreneurship Camp and Career Mentor for the Master of Finance Programme at Tsinghua University School of Economics and Management. Beyond academic roles, he serves as a Committee Member of the Shanghai Jiao Tong University (SJTU) Foundation, and is the founder and donor of both the SJTU Zhengyang Scholarship and the INSEAD Frankie Fang Scholarship. 

Within social services,Mr. Fang serves as a member of the FoF Committee of the Asset Management Association of China, a judge for the venture capital track of Forbes China 30 Under 30 (2020), and a member of the Youth Council of the Future Forum — the organizer of the Future Science Prize, widely recognized as China’s equivalent of the Nobel Prize. He is also a donor of the non-profit education initiative Teach For China. 

Mr. Fang earned his Bachelor of Finance and Accounting from Shanghai Jiao Tong University Antai College of Economics and Management in 2000, an MBA from INSEAD in 2006, and an EMBA from the PBC School of Finance, Tsinghua University in 2019. He holds a Chinese Certified Public Accountant (CPA) qualification. 

His native language is Mandarin. He is fluent in English, French and Cantonese, and conversational in Japanese. 

Mr. Henry He is CIO and Partner at HLC. He holds a Bachelor's degree in Biological Sciences from Shanghai Jiao Tong University and a Master's degree in Biotechnology from the Chinese Academy of Sciences. Prior to HLC, he held roles at ICBC International Capital, CITIC Capital, and Roland Berger, building deep expertise in cross-border transactions, strategic consulting, and VC/PE investing. Since joining HLC in 2016, he has led successful investments including BrightGene (688166.SH), Viva Biotech (1873.HK), Wego (603014.SH), Hanbon (688755.SH), Hongene, Metis TechBio (07666.HK), DP Technology, Approaching AI, HighsLab, and more.

Ivy has over 10 years of experience in investment field and joined Vitalbridge in 2019 as one of the founding members. She leads the firm’s investment in Embodied AI sector since 2023 and executed multiple signature deals in this area as the early investor, including Hypershell, LimX Dynamics, Spririt AI, Encos, Sudo,Originflow, Nature Will, etc. Before joining Vitalbridge, Ivy served as a senior investment professional at Australian Capital Equity (ACE), leading major transactions in advanced tech sectors, including Meicai, Wifi Master Key, etc.

Jea Young Huh oversees AIIB’s global infrastructure private equity and debt funds, venture capital funds, direct co-investments, and co-financings with financial sponsors within the Bank’s Financial Institutions and Funds Clients Department. Before joining AIIB in 2021, he spent 16 years at Korea Investment Corporation, where he held multiple leadership roles in both the Seoul headquarters and the New York office, including Head of Global Private Equity Investments and Head of Global Real Estate Investments. His previous experience also includes roles at Kyobo Life Insurance, Samsung Corporation, and Lehman Brothers in Tokyo. Huh holds an Master’s in Business Administration from Georgetown University’s McDonough School of Business and a BA in Japanese and Economics from Hankuk University of Foreign Studies in Seoul.

Jingyi Xu is a partner of Cooley’s fund formation practice. Her practice focuses on the formation and representation of private investment funds both in the United States and internationally. In particular, Jingyi specializes in representing fund managers investing in China in connection with the formation of their USD-dominated funds, including venture capital funds, private equity funds and project funds, as well as upper-tier arrangements, carried interest plans and various governance matters.  Jingyi also represents institutional investors (including sovereign wealth funds and funds of funds) and other investors in connection with investments in private funds.

Jingyi was recognized as a "Next Generation Partner" (2022-2025) and "Rising Star" (2021) for investment funds practice in China by The Legal 500 Asia Pacific, “2024 China Top 15 Rising Stars” by Asian Legal Business, and "2022 Rising Stars" by China Business Law Journal. She was also shortlisted for “2025 Investment Funds Lawyer of the Year” by Legal 500 China Awards and “2024 Young Lawyer of the Year” by ALB China Law Awards.

Jingyi is a native Mandarin speaker and is fluent in English

Mr. Meng is the Chairman and CEO of Ascendent Capital Partners, a private equity firm managing capital for globally renowned institutional investors.  Prior to founding Ascendent in 2011, Mr. Meng was a Managing Director of D. E. Shaw & Co., where he was a global partner and the leader of the firm's Asian investment office. He also founded and was the CEO of its private equity business in Greater China. Previously, Mr. Meng was Managing Director and Co-Head of China Investment Banking at JPMorgan, in charge of its Asia M&A and China investment banking activities. Mr. Meng began his career in 1997 as an M&A specialist at Credit Suisse First Boston based in New York. Mr. Meng received his M.B.A. from the Yale School of Management, where he is a Donaldson Fellow, the Co-Chairman of the school’s Greater China Advisory Board and a member of the Yale Center Beijing Global Advisory Committee. Mr. Meng is also an Advisory Board member of the Harvard Kennedy School Mossavar-Rahmani Center, and a founding Council Member of the Future Forum in China.

Ling Yang is China Editor for Mergermarket, a global news intelligence service for advisors, private equity firms and corporates. She heads a team of dedicated specialists across China to cover corporate growth strategies, M&A deals, PE buyouts, cross-border M&A intelligence, as well as data-backed analysis and trend pieces.

Ling has been an investigative M&A reporter for 12 years with a special focus on private equity coverage. She was the head of consumer and retail coverage for APAC with Mergermarket. She joined Mergermarket in Hong Kong in 2011 before moving to Shanghai in 2016.

1. As the Head of Deal Advisory Financial Services, Head of Asset Management Advisory and co-leader of the PE channel at KPMG, Louis has extensive experience in transaction advisory service and has led a large number of landmark deals in financial service and TMT sector for PE, SWF and SOE clients.
2. To identify value creation opportunities in cross-border transactions, Louis maintains active and timely communication with clients in improvement of methodology and coverage of new highly concerned topics in due diligence, e.g. emerging technologies, impact of tariffs, supply chain relocation and operational "know-how" transfer in the context of global expansion.
3. With extensive overseas working experience in KPMG Singapore and UK, Louis has active connections and contacts home and abroad, grasping the first-hand knowledge of domestic and foreign economic policies, global PE sector trends , including the "Going Global 2.0" wave, and the impact of recent geopolitical and economic uncertainty on financial environment, promoting the global interactions in PE/FS sector.

Ms. Chai's practice focuses on public and private mergers and acquisitions transactions, private equity transactions and securities offerings and exchange listings.  She has advised a number of clients in Greater China on cross-border M&As, SEC-registered and non-registered securities offering and listings on the Stock Exchange of Hong Kong.  She also advises clients on ongoing regulatory and reporting requirements. Ms. Chai has represented many Chinese and international clients in a broad range of transactions in different industries, including financial services, insurance, telecommunications, TMT, consumer goods, mining, power and energy, manufacturing, and healthcare. Prior to joining Han Kun, Ms. Chai served as the general counsel of a private equity firm.  Prior to that, she practiced in the Hong Kong and New York offices of Sullivan & Cromwell LLP.  

Ms. Chai graduated from Northwestern University School of Law with a Juris Doctor degree.  She received her Bachelor of Arts degree in English language and literature and Bachelor of Economics degree in business administration from Tsinghua University.

Megan Zheng is based in Beijing and co-leads the firm's China business. Prior to joining BlueFive Capital, she spent eight years at Investcorp in Beijing and London, where she led a number of buy-out and growth investments China and Europe. Earlier in her career, she held roles in the investment banking division of Barclays in London.

Megan holds a BA in Management from Tsinghua University, which included a program at Wharton School, University of Pennsylvania.

Michael Chen is a partner and member of Investment Committee at Centurium Capital. Mr. Chen also serves as a Director of Luckin Coffee  (OTC: LKNCY) and Co-chairman of the company’s Sustainable Development Committee, and Chairman of ANE Logistics. Mr. Chen is an experienced private equity investor in China with a proven track record of successful investments. Prior to joining Centurium, he led Warburg Pincus’ consumer and services investments in China.  Prior to joining Warburg Pincus in 2011, Mr. Chen was a vice president in Crescent Point, a Pan-Asia growth capital fund. Before Crescent, Mr. Chen was an associate in the investment banking division of Morgan Stanley in Hong Kong and a consultant with Accenture in China. He received a B.A. of economics from Fudan University and an M.B.A. from INSEAD.

Mr. Bao is a Director in the Private Equity China team, based in Beijing. He joined Mubadala Investment Company in 2017. As a founding member of the Private Equity consumer team, he has been integral to efforts to expand and strengthen the practice, including within China. Since the establishment of the consumer team, in 2019, Mr. Bao has successfully led more than 10 transactions, totaling ~$3.5bn of investments.

Prior to joining Mubadala, Mr. Bao spent two years at Warburg Pincus from 2015 to 2017 focused on investments within the metals and mining sector. Mr. Bao started his career in investment banking, working for the Royal Bank of Canada in London from 2011 to 2015.

Mr. Bao received a Bachelor’s and Master’s degree in Electrical and Electronic Engineering from the University of Cambridge in 2011.

Rafael Ratzel has been an integral part of is T-Capital International (华控基金) in Beijing since 2016, spearheading the firm's international initiatives as the head of TH Capital International. His strategic leadership resulted in the successful establishment of the firm’s inaugural USD Fund in 2023, which gives international investors unique access to growth investment opportunities in China's deep-tech ecosystem. The international team at TH Capital also supports portfolio companies in introducing innovative Chinese technologies to a global customer base and securing complementary technologies in Europe.   

He started his career with operational roles at Siemens and Bosch in Europe, as well as Lufthansa in Hong Kong and as a strategy consultant with Roland Berger in Beijing. After his MBA, Rafael worked with the cross-border investment team at CMIG Investments in Shanghai. 

Rafael holds dual degrees in Engineering (Industrial and Systems Engineering) and Business Administration from the Hong Kong Polytechnic University. He has also acquired MBA degrees from Tsinghua University in Beijing and the Sloan School of Management at the Massachusetts Institute of Technology (MIT) in Boston, USA .   

His strategic insight and leadership are also recognized in his role as a board member of the German family office and industrial holding group AEQUITA.

Dr. Thomas Lanyi is Managing Partner and Head of Southeast Asia at CDH Investments, a leading private capital management platform in Asia. Based in Singapore, he leads the firm’s investment activities across Southeast Asia, focusing particularly on Vietnam. His work spans a wide range of sectors, transaction types, and stages, and he also co-leads CDH’s global China cross-border practice. 

Dr. Lanyi has been active in private equity in Asia since the late 1990s. Before joining CDH Investments in 2012, he held senior leadership roles at Mekong Capital in Vietnam and Templeton Private Equity in Singapore.  He holds a Doctorate with distinction in Capital Markets Theory and Econometrics from the Vienna University of Economics and Business, and a CEMS Master’s degree in International Management from HEC Paris. 

Beyond his professional work, Dr. Lanyi has been closely involved in the development of the regional alternative assets industry. He served as Chairman of the Singapore Venture Capital and Private Equity Association (SVCA) from 2017 to 2021.  He currently sits on several corporate and charitable boards, including the German European School Singapore, and serves as an advisor to the Vietnam Private Capital Association (VPCA).

Tian is a Managing Director at L Catterton who is based in China.

Before joining L Catterton, Tian spent over a decade at Carlyle, where he focused on growth equity and leveraged buyout deals in Asia's consumer market, as well as co-investments with the firm's American and European sister funds. Prior to that, he was with TPG’s buyout team in Asia. He was previously also with Goldman Sach's investment banking division.

Tian received a bachelor’s degree in Mathematics-Economics from Wesleyan University, where he was a Freeman Asian Scholar. He currently serves on Wesleyan’s President’s Council and was previously also on its Alumni Association Executive Committee.

Tim Burroughs is managing editor of Asian Venture Capital Journal, having joined the publication in May 2011. He is responsible for all editorial content put out under the AVCJ brand, including Asian Venture Capital Journal, AVCJtv, AVCJ Awards and AVCJ.com. Tim previously spent five years at China Economic Review, serving as editor-in-chief and then editorial director. Located in Greater China since 2003, during which time he has lived in Beijing, Qingdao and Hong Kong, Tim has been a China-based contributor for publications including The Sunday Times, Sunday Telegraph, BBC and China Daily. Prior to moving to China, he trained and worked as a journalist in the UK. He was honored at the Society of Publishers in Asia awards in 2007, 2008 and 2010, and at the State Street Institutional Press Awards - Asia in 2012.

William Zhao is an experienced investor in the fields of Fintech, Enterprise Services and Industrial Technology. He has over 10 years of experience in capital market and investment practices. The investment cases he has led and managed in the past include: YIXIN (2858.HK), Lexin (NASDAQ:LX), Linklogis (9959.HK), SF Intra City (9969.HK), Stori, Lejian Group, Opay, Seyond (02665.HK), Hellobike, Jiliguala, BlackLake etc. Many of them have become headline listed companies or unicorn companies in the industry. 

William Zhao has received multiple industry honors, including 36Kr’s 36 Under 36 Outstanding Investors, China Venture’s F40 China Young Investors List, Forbes Asia’s 30 Under 30, Forbes China’s 100 Outstanding Young Returned Overseas Elites in China, FoF Weekly’s 100 Young Leaders in the Investment Industry, and CYZone’s 40 Investors Under 40 etc. 

William Zhao previously worked in the investment banking department of UBS and JPMorgan and graduated from the Department of Mathematics, University of Waterloo, Canada, majoring in Actuarial Science.

Yang brings over 20 years of experience in private markets, spanning investment management, capital formation, fund operations and strategic transactions. She is a trusted advisor and seasoned finance professional with deep expertise in Asian private markets. She works closely with leading GPs on fund formation, capital raising, and strategic initiatives, including GP-led liquidity solutions and secondary transactions, helping managers navigate institutional growth and evolving investor needs.

Before joining Thrive, Yang served as Chief of Staff at MSA Capital, focusing on portfolio monitoring, fund operations, and organizational development. Prior to that, she was Chief Operating Officer and Investor Relations Director at GenBridge Capital, overseeing fund operations and leading the firm's investor relations and fundraising initiatives. She began her career at PricewaterhouseCoopers, where she spent over a decade advising asset managers and private investment firms.

Yang holds a bachelor's degree in Finance and a master's degree in Economics from Renmin University.

Yiqing Wang is Managing Editor of Mergermarket’s Asia-Pacific M&A and ECM editorial team, which specializes in breaking news on private and public M&A transactions and delivering forward-looking intelligence on corporate strategy. Yiqing spearheads the editorial strategy and oversees day-to-day operations, to deliver timely, actionable insights and analysis to help clients make better deal-making and investment decisions. Additionally, she frequently moderates panels and chairs conferences at ION Analytics events, bringing industry insights to the forefront.

She has been an investigative M&A reporter and editor since 2009, writing news ranging from healthcare, renewable energy and financial service, etc.

Yiqing achieved her master's degree of multilingual multicultural studies from New York University.

Zhan is an Investment Partner and General Manager of Coller’s Beijing office. He is responsible for origination and execution, and is based in the firm’s Hong Kong and Beijing offices.

Prior to joining Coller Capital in 2016, Zhan was a Director at BlackRock Private Equity Partners. Previously, he worked at Swiss Re Private Equity Partners and Adveq Management in Zurich, Beijing and Hong Kong.

Zhan has a BEng in Environmental Engineering from Tianjin University, an MSc in Environmental Science from Nanyang Technological University and an MBA from INSEAD. Zhan is a CFA Charterholder.