Managers / Q1 2026
IDG China Capital Fund GP III Associates Ltd.
CIK 0001649611 · UNIT 5505, 55TH FLOOR, THE CENTER, 99 QUEEN'S ROAD, CENTRAL HONG KONG, F4, 00000 · 852-2529-1016
Summary
Idg China Capital Fund GP III Associates Ltd. reported $113M in U.S.-listed holdings across 2 positions for Q1 2026.
The portfolio is heavily concentrated: CRCL alone accounts for 99.6% of reported value.
The book was largely unchanged from Q4 2025.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 99.6% · $113M
- ADR · 0.4% · $458,744
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CRCLCIRCLE INTERNET GROUP INC | TRIMMED | −126.2K | 1.18M | +$9M | $113M |
| WDHWATERDROP INC | HELD | +0 | 283.2K | −$79,289 | $458,744 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | CRCLCIRCLE INTERNET GROUP INChistory → | COM CL A | 99.59% | $113M | 1.18M |
| 2 | WDHWATERDROP INC | ADS | 0.41% | $458,744 | 283.2K |
Filing History
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.