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NewTrails Capital
AddedJun 25, 2026
UpdatedJun 25, 2026
NewTrails Capital

NewTrails Capital

Operating

NewTrails Capital is a Chinese growth-stage fund backing emerging-market energy and mobility companies.

Location
Shanghai, Shanghai, CN
Firm
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Portfolio
Employees

NewTrails Capital, known in Chinese as Zengtu Capital, is a Shanghai and Shenzhen-based growth-stage investment fund with an office in Nigeria. It focuses on emerging markets and aligns its capital with China's Belt and Road Initiative, backing companies in Africa, the Middle East, Southeast Asia, and Latin America.

Backed by Shenzhen Transsion Holdings, NewTrails Capital helps portfolio companies secure Chinese manufacturing relationships and localize supply chains. In 2026 it committed $55 million to African electric-mobility platform Spiro, closing that company's $270 million round, with founding partner Yufan Zhang citing Spiro's vertically integrated supply chain and sound unit economics.

NewTrails Capital - Portfolio Snapshot

Portfolio activity breakdown across disclosed investments and stages

Total Investments1
Current Portfolio Count1
Total Portfolio Exits0

Top Investment Stages

Series B1 (100.0%)

Stage Mix

Series B 100%

Concentration shown as share of disclosed investments by stage.

Recent Investments

Spiro logo

Spiro

NewTrails Capital - Classification

Tags
  • Venture Capital