INTRODUCTION
Bishan Capital is dedicated to building next-generation infrastructure for technology, creation, and commercialization in the media and entertainment industry. We empower creators to reshape cultural expression through technology and support creative companies in unlocking scalable, long-term value growth.
Since 2012, the Bishan team has invested over RMB 4 billion (~USD 600 million) in China’s dynamic media and entertainment industry. Through capital support and hands-on post-investment engagement, we work closely with founders to accelerate company growth and long-term value creation.
In the film sector, we invested in China’s most successful science-fiction and industrialized film company founded by Guo Fan, the director of The Wandering Earth, and generated over 30x returns.
In media technology, our portfolio company Baijiayun, a one-stop enterprise video service provider with proprietary audio and video technology, was successfully listed on NASDAQ (ticker: RTC) in December 2022.
In gaming, our portfolio company Ti-Games produced China’s first console title for the PlayStation 5 platform, F.I.S.T.: Forged In Shadow Torch, which received strong reviews from global gaming media (IGN 8/10, Game Informer 8.5/10, Metacritic 81, Famitsu 33).
In consumer, we made an angel investment in IPStar, China’s leading IP-themed restaurant, food & beverage, and merchandise retail chain, which operates licensed IPs such as Genshin Impact, Detective Conan, and Cinnamoroll.
Looking ahead, we believe China’s media and entertainment industry is entering a period of unprecedented opportunity. On one hand, AI will fundamentally reshape content creation and cultural expression. On the other hand, innovations across media and entertainment will significantly impact the consumer economy, with the industry becoming a new driver of overall economic growth.
We are deeply committed to this historic opportunity and will continue to support visionary founders through bottom-up fundamental research, “McKinsey-style” post-investment value creation, and the industry resources we have built over more than a decade.
MEET OUR TEAM
Alan Chen
Mr. Alan Chen is the Managing Partner of Bishan Capital. Prior to founding Bishan, Mr. Chen was a Partner at Houde Qianhai Fund, a leading investment firm in China’s media and entertainment industry, where he led the fund’s venture capital arm. Mr. Chen had more than 20 years of business experiences spanning from McKinsey & Company, Shanda Capital to Nestle, Mars and start-up company Xueda Education (NYSE XUE). Mr. Chen holds a BA in Economics from the University of International Business and Economics, an MBA from Yale University, and an EMBA from Tsinghua University.
Alan enjoys reading, golfing, and traveling. He has once assembled a complete set of IKEA bedroom furniture by himself when studying in the US.
Cao Shuzheng
Mr. Cao Shuzheng is a Managing Director of Bishan Capital. Previously, he was an investment director at Houde Qianhai Fund and a product manager at Blue Whale Media. Mr. Cao holds a bachelor’s degree in Microelectronics from Tsinghua University and a master's degree in Public Administration from Tsinghua University.
Outside of work, Shuzheng loves online literature, e-sports, and trying out new indie games. He is also a big fan of film director Makoto Shinkai, with whom he has met face-to-face.
OUR PORTFOLIO
FOUNDERS WORDS
"Alan was our first investor, backing Guo Fan Film in its earliest days. We share not only a passion for great content but also a vision to build China’s premier science-fiction film and television industry. "
--Fan Guo, director of The Wandering Earth movie franchise
"IPSTAR, the specialty retail chain for anime merchandise, was an idea that Alan and I brainstormed together, and he invested millions in the angel round. Before 2018, anime merchandise (or 'goods,' as fans call it) was only available at comic conventions—there were no other offline retail options. Back then, we thought: why can’t these goods be sold in shopping malls? Inspired by Japan’s Animate, we launched the first IPSTAR store alongside a Detective Conan café in Shanghai’s Jing’an Joy City. It was an instant hit."
--Weicheng Wu, Founder and CEO of IPSTAR
"Bishan Team, Tao Meng's Series A lead investor, has stood by us side by side for seven years, providing critical strategic and operational support. They have gone above and beyond, leveraging their extensive film and television industry resources to empower Tao Meng's growth."
--Chao Yin, CEO of Tao Meng
"Alan approached us shortly after Ti-Games secured angel investment, drawn by our shared optimism about VR. When the industry hit a development bottleneck, he backed our pivot to console games and provided substantial support—both strategic and promotional—for F.I.S.T."
--Tao Zhang, CEO of Ti-Games