Chaoming Chai

Chaoming Chai (Chinese: 柴朝明) is a partner at Raystone Capital, a Beijing-headquartered growth-investment firm. He was born in November 1969 in Suzhou, Jiangsu Province, and holds a master's degree in business administration; he graduated from the Shanghai University of Finance and Economics in July 1992. His career began in industry and professional services rather than finance: from 1992 to 1993 he worked as an auditor at Shanghai Petrochemical Co., Ltd., and from 1993 to 2008 he worked at Beijing Haiwen Consulting (北京海问咨询).

From 2009 to 2015 he served as a director of Shanghai Gedi Electric Power Technology Co., Ltd. while also joining Raystone as a partner of the firm's equity-investment management partnership (雷石泰和股权投资管理企业). Since November 2015 he has continued as a partner of Raystone's equity-investment management partnership and has held an independent-director seat at Tangshan Jidong Cement Co., Ltd. (唐山冀东水泥, SZSE: 000401), one of China's largest cement producers — a role consistent with a PE partner who takes board positions at portfolio-adjacent and public state-linked industrial companies.

Raystone Capital itself was founded in 2007 by Wang Yu (王宇), who serves as founding partner and chairman/CEO of the broader Leishi Group; the firm reports cumulative assets under management exceeding RMB 11 billion. The firm operates offices in Beijing (its headquarters near Xiaoyun Road, Chaoyang District), Shanghai, Guangzhou, and Hohhot (Inner Mongolia). Its stated strategy centers on "concentrated growth and industrial concentration," today focused on artificial intelligence and healthcare within state-supported industries, and historically on growth-stage and pre-IPO investments with a relatively high reported exit/securitization rate.

• Invests through Raystone's growth-equity vehicles rather than as a personal angel; the firm's positioning is "concentrated growth and industrial concentration" (集中式成长 / 产业集中).
• Core current sector themes: artificial intelligence and healthcare/medical technology, targeted within state-supported and strategically important industries.
• Historical firm focus spans clean technology, energy conservation and emission reduction, high-end equipment manufacturing, and the consumer sector, with an interest in the reform and upgrading of state-owned enterprises.
• Stage orientation is growth to pre-IPO, with the firm emphasizing exits via public listing; third-party sources note a preference for relatively fast paths to IPO.
• Chai's own profile — audit, consulting, and public-company board experience — suggests he adds value on governance, financial diligence, and shepherding companies toward public-market readiness.