Cowin Capital

On 26 June 2000, Cowin was founded by Zheng Weihe and his wife, Huang Li using their own funds of RMB 80 million during the dot-com bubble.^[1][3][4] Zheng was previously a lawyer and had also worked at the Shenzhen Stock Exchange which gave him experience and contacts in handling initial public offerings (IPO).^[1][3]

In 2007, Cowin raised its first fund of RMB 50 million.^[1] Between 2007 and 2011, Cowin expanded rapidly raising five funds and RMB 4 billion in total.^[1] Cowin's funds had a shorter tenure of five years compared to 10 years which was common among their western counterparts.^[1]

Cowin's investment strategy was to look for "hidden champions" in "rising sectors" which were high growth companies that could lead their sectors in three to five years.^[1] Cowin would then use its expertise and contacts to guide these companies to an IPO.^[1]

In July 2015, Cowin became a publicly listed company on the National Equities Exchange and Quotations.^[5][6] According to its 2015 annual report, 90% of its income came from fund management fees.^[6]