Footprint of DM Capital
  • 2003
  • Founding Time

    Lixin Zheng (Chairman and CIO) founded DM Research and Consulting Co. (Hong Kong) Ltd. (DMR) and its subsidiary, DM Consulting (Shenzhen) Ltd. 

  • 2004
  • Constructive Activism

    DM Capital started to manage discretionary accounts by investing in public companies listed in Hong Kong, and practicing Constructive Activism with investments such as: Weigao (01066.HK), Grand Pharma (00512.HK), and CSPC (01093.HK)

  • 2007
  • Investment Platform

    Through its wholly owned subsidiary, DM Healthcare Investment Ltd. (formerly named China Medical Device Group Limited), DM Capital was the controlling shareholder of Longlife Group Holdings Limited (08037.HK) during 2007-2009, with our partner team directly leading a successful restructuring at the Company. DM Healthcare also invested directly in several private companies in the Chinese healthcare industry.

  • 2010
  • Harmony Fund

    DM Capital launched the Harmony Fund ( on July 21, 2010. Since its inception, Harmony Fund has been DM Capital’s sole vehicle for practicing Constructive Activism with public companies.

  • 2014
  • Essence DM Dental Fund

    DM Consulting (Shenzhen) Limited founded Essence DM Fund Management Company in Shenzhen to manage Essence DM Dental Fund, a private equity fund focused on the Chinese dental sector. Limited partners include Straumann AG of Switzerland, Essence Capital and the Fushan Municipal Government of Guangdong Province.

  • 2015
  • Spinning off

    All direct investments and private equity operations were spun off from DM Capital into separate vehicles,  making DM Capital a sole purpose company dedicated to managing the Harmony Fund.

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