The former richest man in Shandong has become a limited partner.

According to Jiema LP of the investment community, Goertek Inc. recently announced that it will participate in the establishment of a new fund with a total scale of approximately 697 million yuan, mainly investing in the field of cutting - edge technology. The company intends to contribute no more than 230 million yuan of its own funds.

Starting from the entrepreneurship of a Shandong couple, Goertek entered the Apple supply chain in its early days. After experiencing the painful period of business transformation, it has grown into a leading consumer electronics company with a market value of over 100 billion yuan. In the 2020 Forbes Billionaires List, the founding family became the richest in Shandong.

A Shandong wealthy couple invests 200 million yuan

According to the announcement, this fund is the Shanghai Tongge Phase II Venture Capital Partnership (Limited Partnership) (provisional name), with a total scale of approximately 697 million yuan and a term of 7 years. The first 4 years are the investment period, and the subsequent period is the exit period.

In terms of capital contribution, Goertek intends to contribute no more than 230 million yuan of its own funds, accounting for no more than 33% of the fund scale; Shanghai Tongge Xingchen Management Consulting Co., Ltd. (Limited Partnership) will contribute 6.97 million yuan, accounting for 1%. Other LPs will contribute 460 million yuan, accounting for 66%.

In terms of investment direction, the fund mainly focuses on cutting - edge technology, including artificial intelligence, XR and spatial computing, new materials and advanced manufacturing, three - dimensional transportation, and semiconductors.

"Participating in the establishment of this fund is beneficial for the company to broaden its investment channels. By leveraging the management capabilities, investment experience, and resource advantages of professional investment institutions, the company can seize market development opportunities, share the fruits of industry development, and seek more investment returns for the company and its shareholders," Goertek said in the announcement.

When it comes to Goertek, the general impression from the outside world is that it is one of the leading companies in the Apple supply chain. Starting from a microphone factory in Shandong, the couple Jiang Bin and Hu Shuangmei took Goertek public and grew it into a leading consumer electronics company integrating acoustic, optical, and precision components, precision structural parts, and intelligent complete machines, with a latest market value of over 100 billion yuan.

Along the way, Goertek has also experienced many difficulties. In 2022, due to Apple's order - cutting incident, the company once fell into a performance bottleneck. The highly - anticipated billion - yuan acquisition case last year was also announced to be terminated three months later, with the reason stated in the announcement being "the two parties to the transaction failed to resolve the differences on key terms."

As the traditional consumer electronics market is gradually saturating, how can it achieve growth? Goertek has set its sights on emerging fields such as VR/AR and AI intelligent hardware. In August 2025, the company funded the acquisition of Plessey, a Micro - LED technology company. Subsequently, its subsidiary Goertek Optics acquired 100% of the equity of Shanghai Aolai for 1.903 billion yuan, providing underlying technical support for AI glasses and AR business.

"AR augmented reality and its derivative AI smart glasses have become hot topics in the market," Goertek clearly stated in its financial report. Founded in 2017, its subsidiary Goertek Maker is one of the earliest domestic enterprises to layout VR/AR digital content production and the innovative application of meta - universe digital technology.

Participating in the establishment of this new fund is also a reflection of its increased investment in emerging industries.

New capital inflow

This is not the first time for Goertek to enter the primary market.

As early as July 2022, Goertek announced that it had signed a partnership agreement with Mihoyo and 37 Interactive Entertainment, planning to jointly subscribe 556 million yuan for venture capital activities. The investment target was the Qingdao Tongge Phase I Venture Capital Fund Partnership (Limited Partnership) (referred to as the "Tongge Phase I Fund").

It was disclosed that the Tongge Phase I Fund was established in May 2022, jointly funded by Goertek and its holding subsidiary Tongge Venture Capital. It will conduct equity or quasi - equity investments in unlisted start - up companies in the fields of advanced manufacturing, intelligent connected vehicles, AR/VR, and semiconductors.

This scenario is the collective choice of listed companies at present.

After having abundant funds, they often enter the primary market as LPs, entrusting the funds to professionals to manage, so as to strengthen their own industrial chains, build their own barriers, consolidate their strength, and pursue the effect of 1 + 1>2.

Taking Zhongji Innolight as an example, it has participated in the establishment of more than a dozen funds so far. It has not only invested in well - known institutions such as Zhongke Chuangxing and Zheshang Venture Capital but also repeatedly provided capital to early - stage investors. Its old shareholders such as Kaifeng Venture Capital and Datai Capital have all received investments.

In recent years, many listed companies have "turned to investment after achieving success in business", injecting valuable capital into the primary market. Looking at the current fundraising chain, most funds are mainly funded by state - owned capital. Facing huge pressure of investment return requirements, it is difficult for market - oriented LPs to meet the criteria. At this time, market - oriented LPs that do not require investment return but only pursue financial returns are particularly valuable.

Recalling August 18 last year, the A - share market witnessed a historic moment when the total market value exceeded 100 trillion yuan for the first time, hitting a record high. Only when listed companies are doing well can more capital be expected to flow into the primary market.

This article is from the WeChat official account "Jiema LP", author: Yu Mengying. Republished by 36Kr with permission.