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IPV Capital is a venture capital firm co-founded in 2006 by F. Roger Li and Tingru Liu. The firm is headquartered in China, with offices in Beijing, Shanghai, and Silicon Valley. IPV Capital has established itself as a significant player in the venture capital landscape, particularly in the semiconductor sector. The firm has led investments in over 50% of the most valuable startup semiconductor design IPOs globally over the last decade, showcasing its deep expertise and commitment to this industry.
As of now, IPV Capital manages approximately $3.4 billion in assets under management (AUM) and has a portfolio comprising 79 companies. The firm has a strong focus on supporting innovative technologies that drive growth across various markets, including computing, communications, industrial applications, consumer entertainment, and automotive. Notable milestones include a recent strategic split into two independent firms: IPV Katalyst, focusing on Asia, and Petram Ventures, targeting the US market.
IPV Capital primarily invests in the semiconductor sector, emphasizing innovative technologies that drive growth in computing, communications, industrial applications, consumer entertainment, and automotive markets. The firm targets investments across various stages of company development, from early-stage ventures to growth capital opportunities. IPV Capital's investment strategy is centered on identifying and leading investments in chip design companies that are positioned for successful IPOs.
In addition to its core focus on semiconductors, IPV Capital also explores opportunities in sectors such as fintech, energy, artificial intelligence, and other technology-driven industries. The firm typically invests between $1 million and $37 million per deal, reflecting its commitment to supporting companies at different stages of their growth journey.
IPV Capital's portfolio includes a diverse range of companies, particularly in the semiconductor sector. Notable portfolio companies include:
Additionally, IPV Capital has achieved notable exits with companies such as iSoftStone, which went public, Amprius, known for its silicon anode battery technology and also an IPO, and Genapsys Inc., a gene sequencing technology firm that has also gone public.
F. Roger Li: Co-founder of IPV Capital, with extensive experience in venture capital and technology investments.
Tingru Liu: Co-founder, bringing a strong background in semiconductor technology and investment strategies.
Alex Banh: Partner, known for his expertise in technology investments.
David Britts: Partner, with a focus on identifying high-potential startups in the semiconductor sector.
Kuan Wei Mok: CFO, responsible for financial management and strategy.
Ning Zhou: Senior Executive, contributing to strategic initiatives and portfolio management.
Tom F. Clausen: Venture Partner in Europe, expanding IPV Capital's reach in the European market.
Wesley Fu: Advisor, providing insights and guidance based on his extensive industry experience.
To pitch IPV Capital, startups should visit their website at ipvcap.com for specific guidelines. The firm prefers detailed decks that outline the technology, market opportunity, and business model. Response times may vary, so founders should be prepared for a potential wait after submission.
In September 2025, IPV Capital underwent a significant structural change, splitting into two independent firms: IPV Katalyst, which focuses on investments in Asia, and Petram Ventures, which targets the US market. This strategic move reflects the firm's commitment to adapting to the evolving investment landscape.
IPV Capital has been recognized for its active role in the semiconductor sector, having led investments in over 50% of the most valuable semiconductor design IPOs globally over the past decade.
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What are IPV Capital's investment criteria?
IPV Capital focuses on the semiconductor sector and invests in innovative technologies across various markets, including computing, communications, and automotive. The firm targets early-stage to growth capital investments.
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How can startups apply or pitch to IPV Capital?
Startups interested in pitching to IPV Capital can visit their website at ipvcap.com for more information on the application process.
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What makes IPV Capital different from other venture capital firms?
IPV Capital has a strong emphasis on semiconductor design and has led investments in over 50% of the most valuable semiconductor design IPOs globally, showcasing its deep domain expertise.
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What is the geographic scope of IPV Capital's investments?
IPV Capital primarily focuses on investments in Asia, particularly China, while also maintaining a presence in Silicon Valley.
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What is the typical check size for investments?
IPV Capital typically invests between $1 million and $37 million per deal, depending on the stage and potential of the company.
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