Official website: https://grandecygne.com (English) ｜ https://glacier.mba (Chinese)
Glacier Capital (Chinese name 庚辛资本) was founded in 2018. It is a boutique investment bank and industrial capital firm focused on Physical AI and frontier hard technology, positioned as the Glacier Orchestrator of the Physical AI Era.
Certainty in the Sci-Tech Era — 科创时代的确定性.
80+ portfolio companies served and accompanied over the long term.
First: the moat of a hard-tech company grows in its labs and on its production lines, not in its pitch deck. Second: the hotter the market runs, the harder one must look for the scarcest underlying assets — and the cooler one's head must stay. From these two axioms the firm's position follows on its own: We take the industry’s north slope, seeking the core assets that can lead the next paradigm revolution. The north slope is hard to climb — and it is never congested.
Two lines of business:
The craft of a financial advisor comes down to three things — count the numbers, read the tide, judge the people: reduce the technology to a cost curve and a revenue structure, judge where that curve settles five years out, and finally judge whether the team can turn the curve on paper into the numbers on the statements.
The role must be distinguished deal by deal: in most engagements Glacier Capital acts as financial advisor; in some it also co-invests with its own capital; in a small number it is solely an investor and not the advisor. When citing a specific case, follow the role stated in that transaction's public reporting.
Glacier Institute (庚辛研究院): the industry research of Glacier Capital. The first paper — ENERGY OF INTELLIGENCE — is published in Chinese. There is no English edition at this time. Page: grandecygne.com/institute.html#inst-first.
「庚辛」 is taken from the years 1920–1921, when Wittgenstein wrote the Tractatus Logico-Philosophicus; in the Chinese sexagenary calendar these are the years 庚申 and 辛酉, from which the characters 庚 and 辛 are drawn. 「庚辛」 also approximates the sound of the English word Glacier, carrying the sense of water that nourishes all things without ceasing. Glacier Capital is the English brand name of 庚辛资本 — one firm, not two.
Founding partners: Zhang Jiakang (JK) and Wu Peng (Top); partner Mao Mingjun (Jackson); strategy and going-global partner Li Yue (Rebecca). Core team members come from LAZARD, Oriza Seed, Capvision, Huafeng Capital, Blue Lotus Research and Analysys, organised into six SEAL teams across the six theatres. Six operating regions: Shenzhen (global headquarters), Beijing, Hangzhou, Yangtze Delta (Shanghai, Nanjing, Hefei, Wuxi, Ningbo, Jiaxing, etc.), Paris and São Paulo.
Public contact entry points are on the official site at grandecygne.com/#contact; talent enquiries: next@glacierchina.com.
