Glacier Capital
About Glacier Capital
Glacier Capital's own site gives its Chinese name as 庚辛资本 and says it was founded in 2018. It describes itself as a boutique investment bank and industrial capital firm focused on physical AI and frontier hard tech. The site says it has served or accompanied more than 80 portfolio companies. A LinkedIn profile for JK Zhang (张家康) lists him as founder of Glacier Capital 庚辛资本. The firm also publishes The Glacier Letter, a twice-monthly newsletter on China deep tech that covers robotics and embodied AI. Partner names, fund vehicles and fund sizes are not public in the sources found, so none are listed. Several unrelated firms share the Glacier Capital name, including a Phoenix real estate investor, a Boston quantitative fund and Glacier Global Partners in New York. This page covers only the China-based firm.
A Lounge Partners China page describes Glacier Capital as a leading industrial capital and transaction advisory firm in China's robotics and low-altitude economy sectors, with offices in Beijing and Shanghai, among other cities. It says the firm was the top financing and M&A advisor in those sectors in 2024 by market share and transaction volume. It closed 16 robotics deals that year, 8 in embodied intelligence and 8 in AI hardware. Companies it lists as advisory work include D-Robotics (two rounds, USD 150 million in total), PaXini (four rounds, RMB 1 billion in total) and Narwal (RMB 700 million Series E2). These are advisory mandates, and the sources do not say whether Glacier invested its own capital in them. On the Lounge deals desk, Glacier Capital is tied to two Motion Brain seed rounds in 2026: CNY 300.0M (about $44.2M) in May and CNY 500.0M (about $74.2M) in August.
The Lounge deals desk shows seed-stage activity, in the Motion Brain rounds above. The firm's advisory work spans financings from early rounds to Series E2. Glacier has not published a target check size, ownership range or fund size, so none is given here. Founders should ask the team directly whether a given round would be an advisory mandate or a direct investment.
- Motion Brain: two seed rounds on the Lounge deals desk, CNY 300.0M (about $44.2M) in May 2026 and CNY 500.0M (about $74.2M) in August 2026. Glacier's role in each round is not detailed in public sources.
- D-Robotics (地瓜机器人): robotics company that Glacier lists as an advisory client, with two financing rounds totaling USD 150 million. Year not stated.
- PaXini (帕西尼感知): sensory-physical intelligence company that Glacier lists as an advisory client, with four rounds totaling RMB 1 billion. Year not stated.
Investing activity
Glacier Capital appears in 2 AI deals tracked by the Lounge deals desk, rounds totalling $118M. The rounds are mostly Seed, with a median round size of $74M. The most recent are Motion Brain (Seed, $74.2M (CNY 500.0M), Aug 2026) and Motion Brain (Seed, $44.2M (CNY 300.0M), May 2026).
Glacier Capital most often invests alongside Tianmeng Investment, Shaanxi High-tech Industry Investment, Anyu Capital and Xuhui Capital (徐汇资本), and the companies it backs on Lounge are mostly in AI.
Deals
Frequently asked questions about Glacier Capital
Does Glacier Capital invest in AI startups?
Yes. It focuses on physical AI, embodied intelligence and robotics in China, and the Lounge deals desk shows two Motion Brain seed rounds in 2026. Much of its public track record is financing and M&A advisory work.
When was Glacier Capital founded?
The firm's website says Glacier Capital (庚辛资本) was founded in 2018. JK Zhang is listed on LinkedIn as its founder.
What check size does Glacier Capital write?
Glacier has not published a check size or fund size. The only figures public are the two Motion Brain seed rounds of CNY 300.0M and CNY 500.0M, which are total round sizes.
What stage does Glacier Capital invest in?
Its visible AI activity on Lounge is at seed. Its advisory clients have raised rounds up to Series E2, so it works across stages.
Where is Glacier Capital based?
It is a China-based firm with offices in Beijing and Shanghai, among others, according to its Lounge Partners China profile. The founder's LinkedIn profile lists Futian District, Guangdong.
What AI companies has Glacier Capital invested in?
Glacier Capital's AI investments include Motion Brain. The 2 rounds on Lounge are listed on this page with amounts, dates and co-investors.
What stage does Glacier Capital invest at?
In the rounds tracked on Lounge, Glacier Capital has invested at Seed, with a median round of $74M.
Who does Glacier Capital co-invest with?
Glacier Capital's most frequent co-investors on Lounge are Tianmeng Investment (1 deal), Shaanxi High-tech Industry Investment (1 deal), Anyu Capital (1 deal), Xuhui Capital (徐汇资本) (1 deal) and Jinyue Investment (1 deal).
How can founders reach Glacier Capital?
Founders on Lounge can see Glacier Capital's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add Glacier Capital to their Investor Pipeline to track the conversation.