Team

Seasoned Investment Team with Extensive Sector Network and Capital Market Expertise

Full-Cycle Industrial Empowerment Built on our team's Cross-Border, multi-currency and Multi-Stage Capabilities

Chairman

Karl Ma, CFA

Chairman & CEO

Mr. Ma leads PPCG's overall strategy and investment direction. He brings three decades of cross-border investment banking and technology-focused VCPE experience, and possesses extensive transaction expertise in M&A, fund formation, and strategic corporate-industrial partnerships. Prior to founding PPCG, Mr. Ma held senior roles at international investment banks and major technology equity funds. Throughout his career, he has maintained long-standing collaborative relationships with global institutional allocators and sovereign wealth funds.

Mr. Ma has been highly active in early-stage tech investments across the US and China, having successfully launched and managed two USD-denominated technology funds. Additionally, he formerly served as a shareholder in Tsinghua University's technology incubation platform and held board seats at leading university incubation centers in both the US and the UK.

Education · MSc, London Business School; BBA, University of Michigan; CFA

Investment Committee

Tim Zhang

Investment Committee Member

Mr. Zhang leads the firm's cross-border M&A and institutional-investor relations. He brings two decades experience at major international investment banks in Asia-head roles, leading cross-border transactions across technology, energy, and infrastructure.

Focused on large-cap M&A execution and global institutional-LP relationship development, with deep cross-border capital-markets experience and regulatory-engagement capability.

Education · Master of Economics & Management, Tsinghua University

Li Gong

Chief Scientist · Investment Committee Member

Mr. Gong serves as the group's Chief Scientist, leading industry assessment and deal sourcing across AI and systems software, with deep expertise in AI architecture, operating systems, and foundational software. He has held senior roles at Microsoft, Sun Microsystems, and ARM, bringing an end-to-end perspective from engineering to investing.

He bridges industry and academia across basic research, product engineering, and technology venture investing, providing independent judgment on AI compute and chip themes.

Education · BEng Computer Engineering, Tsinghua University; PhD Computer Science, University of Cambridge

Advisory Board

Advisory

Xiongfei Zhao

Advisory Board Member

Mr. Zhao serves on the Advisory Board, providing technical judgment across energy and compute architecture — including AI and cloud hardware architecture, data-center efficiency, and systems design.

Brings an international industrial and software consulting background, with focus on enterprise AI applications and data-science implementation.

Education · BSc & MSc Industrial Engineering, Tsinghua University

Yan Zhang

Advisory Board Member

Mr. Zhang serves on the Advisory Board, providing industry assessment and project-network support in AI compute infrastructure — IDC, AIDC, energy, and compute architecture.

Previously at an international investment bank and a major financial institution, with deep capital-markets experience and institutional networks.

Education · Master of Management, Tsinghua University

Xin Wang

Advisory Board Member

Mr. Wang serves on the Advisory Board, bringing a partnership perspective across large industrial groups and regional investment platforms in Asia, and institutional LPs — covering industrial-fund formation and on-the-ground execution. He has experience establishing and operating industrial funds alongside local industrial platforms.

Brings a dual background in law and industry, providing long-term fund-structuring and compliance support to large industrial groups and regional investment platforms in Asia.

Education · LLB & LLM, Peking University

Peter Lai

Advisory Board Member

Mr. Lai serves on the Advisory Board, providing regional perspective on Middle East and North Africa investor relations and cross-border capital networks. He brings global private-equity and debt-financing experience.

He has a long-standing track record in cross-border financing and institutional partnerships, maintaining deeply rooted relationships with regional institutional LPs and prominent family offices.

Education · Bachelor's degree, University of London

Investment Team

Element Sun, CFA, CIIA

Investment Manager

Mr. Sun is an Executive Director of Pine Star Asset Management Limited, PPCG's asset management arm. With nearly 20 years of experience, his expertise spans across investment banking, private equity, direct investments, and public equities. Throughout his career, he has focused on new economy sectors such as technology and healthcare—spearheading M&A, cornerstone investments, and public market exits across both Mainland China and Hong Kong.

Prior to joining PPCG, Mr. Sun held positions at a major financial platform and a global asset management firm, gaining comprehensive, hands-on experience in deal execution, portfolio management, and cross-border project management.

Education · BBA, Tsinghua SEM; Finance MBA, Tsinghua PBC SF / Cornell; CFA; CIIA

Alex Feng, CFA

Investment Manager

Mr. Feng is an Executive Director of Pine Star Asset Management Limited, the asset management arm of PPCG. With over a decade of institutional experience, his background covers end-to-end execution across cross-border private equity and investment banking. His investment career centers entirely on the technology sector, with a precision focus on core layers of the AI ecosystem, including AI chips, foundational models, and enterprise applications.

Prior to PPCG, Mr. Feng worked at a major USD-denominated private equity fund and a global investment bank, building a proven track record in deal structuring, portfolio management, exit execution, and project fund formation.

Education · BSc & MSc Economics, Peking University; MFE, NUS; CFA