Xiang He
Xiang He last closed a fund in June 2022 — 53 months ago. By its own rhythm, that is already past its usual gap.
Xiang He has raised 3 times about every 37 months. The last was Xiang He Fund III, L.P. That pointed to Jul 2025. It is 16 months past its own gap and has not filed a new fund.
Historically about 1 in 4 firms in this position filed within a year. The month is approximate — how often this is right.
Late-cycle This firm is deep enough into its last fund that a new one would not be a surprise.
Still filing with the SEC: June 2023. That is an amendment to an existing offering, not a new fund - which is what an evergreen structure looks like in this data.
- Funds on file
- 6
- Capital raised
- $675M
- Latest close
- June 2022
- Based in
- CA, non-US
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Xiang He Fund III, L.P. | June 2022 | $45M | 0001931424 ↗ |
| Xiang He Fund Gamma, L.P. | November 2020 | $18M | 0001833439 ↗ |
| Xiang He Fund II, L.P. | July 2018 | $350M | 0001746154 ↗ |
| Xiang He Fund I Alpha, L.P. | June 2018 | $4M | 0001743973 ↗ |
| Xiang He Fund I, L.P. | May 2016 | $250M | 0001673521 ↗ |
| Xiang He Fund I Beta, L.P. | — | $8M | 0001743972 ↗ |
Each row links to that vehicle’s Form D filings on EDGAR — the name, date and amount above should match what is filed there.
Named on filings
Hesong Tang, Liu Yang, Tang Hesong, Maggie Yang
What Xiang He invests in
- Typical fund
- $45M median, seed to early stage
- Website
- xianghecap.com
Service providers
- Fund administrator
- Standish (4 funds)
- Auditor
- Deloitte (4 funds)
From Form ADV filed by EMPOWER HARVEST MANAGEMENT SERVICES, INC. CRD 284291 ↗, latest filing March 2026, covering 4 funds linked to this firm by Form D file number. Form ADV is filed once a year, so a provider may have changed since. How this is matched.
What this is. Every figure on this page comes from Form D filings with the U.S. Securities and Exchange Commission — public records, reproduced here as filed. Service providers, where shown, come from the adviser’s Form ADV and are dated.
What it is not. Single-deal SPVs, feeder vehicles and GP or employee commitment funds are listed but excluded from fund counts and capital totals: an SPV is one investment, a feeder holds the same capital as its master, and a “Principals” or “Entrepreneurs” fund closes alongside a main fund rather than being raised in its own right. Capital deployed from a family office, a corporate balance sheet or an evergreen structure never arrives as a fund close, so a firm doing that looks quiet here. Amounts are as of the last amendment and go stale. Dates are the date of first sale — a fund's first close, not its final one. Funds filed as “Indefinite” are excluded from totals rather than counted as zero, so a total is a floor.
“No recent fund” is a statement about filings. It is not a statement about whether a firm is solvent, investing, or still in business.