NewTrails Capital - aVenture Asset Manager Research
NewTrails Capital
Operating Status: Operating
NewTrails Capital is a Chinese growth-stage fund backing emerging-market energy and mobility companies.
Location
Shanghai, CN
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
Portfolio Companies1
Current Portfolio Count1
Top Investment Stages
Series B1 (100.0%)
Stage Mix
Series B 100%
Concentration shown as share of disclosed investments by stage.
