Beijing, China—Mr. Soup, a goateed 31-year-old entrepreneur from Shanghai, launches his PowerPoint pitch. At the head of the conference table in a Beijing office tower sits Bob Xu Xiaoping, an avuncular 60-year-old in a monogrammed white shirt and electric blue blazer. Teacher Xu, as he is widely known, is the biggest and most successful angel investor in China.
ZhenFund, started in 2011 with his partner Victor Wang and Sequoia Capital China, has raised $600 million and put money into some 400 startups. Their impact is comparable to American early stage funder Y Combinator. Today’s pitch could change Mr. Soup’s life.