Lingjun Capital raises $300 million after two-year halt

Lingjun Capital, the offshore arm of Beijing quant manager Lingjun Investment, raised more than $300 million from international investors, its first offshore fundraising since a two-year suspension tied to exchange sanctions in 2024.

Lingjun Capital's commitments came from a US institutional investor and several Southeast Asian clients, with talks underway over a further $150 million from a Southeast Asian sovereign wealth fund, Hedgeweek reported Oct. 22, citing Reuters. The firm is also targeting Middle East investors. The report did not give a closing date or fee terms.

For allocators, the reopened vehicle adds a China quant sleeve with a documented interruption inside its record: the Shanghai and Shenzhen stock exchanges temporarily suspended Lingjun's trading in 2024 over rule violations. Founder Cai Meijie said the firm's diligence file now includes a risk team that doubled in size, extra controls built into trading systems and a five-member investment committee.

Lingjun managed about 100 billion yuan ($15 billion) before the exchange suspension and about 50 billion yuan ($7.5 billion) afterward. That made it one of China's four largest quant managers at that size, according to the report. Cai said the firm suspended fundraising for two years while it overhauled risk management and governance.

Lingjun's flagship equity strategy returned more than 70% in 2025 and more than 10% in the first nine months of 2026, according to fund distributor Simuwang.com. The CSI 300 rose 18% in 2025 and fell 6% in the first nine months of this year.

Cai attributed part of the renewed foreign appetite to DeepSeek, the AI developer incubated by quant investment firm High-Flyer. "People are looking at Chinese quant funds from a new angle. It's increasingly about how AI can be applied in investment," he said.

Lingjun restarted domestic fundraising in March before reopening its offshore strategies to international investors. The $150 million from the Southeast Asian sovereign wealth fund was described as under discussion, not committed.