Lingjun wins $300 million in overseas fund commitments

Lingjun Capital, the Beijing-based firm’s offshore arm, received commitments from a U.S. institutional investor and several clients in Southeast Asia. It is discussing a further $150 million allocation with a Southeast Asian sovereign wealth fund and seeking investors in the Middle East.

Lingjun restarted domestic fundraising in March before reopening its offshore strategies to international investors. Founder Cai Meijie said the firm had paused fundraising for two years while it strengthened its risk management and governance systems.

The firm doubled its risk management team, added controls to its trading systems and formed a five-member investment committee. The changes followed regulatory action in 2024, when the Shanghai and Shenzhen stock exchanges temporarily suspended Lingjun’s trading activities over rule violations.

Lingjun’s flagship equity strategy returned more than 70% in 2025, according to data from fund distributor Simuwang.com. It gained more than 10% in the first nine months of 2026. The CSI 300 index rose 18% in 2025 and fell 6% in the first nine months of 2026.

Cai attributed the increase in international interest in Chinese quant funds to the use of artificial intelligence in investment strategies and improved performance. “People are looking at Chinese quant funds from a new angle. It’s increasingly about how AI can be applied in investment,” he said.

Cai founded Lingjun in 2014. The firm previously managed about 100 billion yuan ($15 billion), making it one of China’s four largest quantitative fund managers. Its assets fell to about 50 billion yuan ($7.5 billion) after the 2024 regulatory intervention.

Cai also linked interest in Chinese quantitative strategies to DeepSeek, the Chinese artificial intelligence developer incubated by quantitative investment firm High-Flyer.