ZhenFund was established in 2006 by Xu Xiaoping, one of New Oriental's co-founders, with the aim of promoting innovation among young people in China. Just as New Oriental empowered thousands of Chinese students to study abroad, ZhenFund likewise hopes to create a bridge for overseas returnees to pursue entrepreneurship in China, as well as support domestic entrepreneurs with global vision and integrity to realize their entrepreneurial dreams. Prior to November 2011, ZhenFund was an investor in Shiji Jiayuan, Lightinthebox, Jumei.com, and almost eighty other early stage companies in Mainland China. In December 2011, ZhenFund partnered with Sequoia Capital China on "ZhenFund 2.0" to invest 200