Capvision
Asia-focused expert network with global reach, providing expert consultations, industry reports, and primary research across major markets. Note: Most publicly available operational data (call volumes, expert count, employee numbers) predates the May 2023 Chinese state security investigation; current operational scale is uncertain.
Services
Best For
When Not Ideal
Key Strengths
- ✓ Deepest expert network coverage in China and Asia-Pacific among major expert networks
- ✓ Multilingual capabilities spanning Mandarin, Cantonese, Japanese, Korean, and other Asian languages
- ✓ On-the-ground presence in major Asian business centers
- ✓ Broad service offering beyond calls — surveys, events, research, corporate access
- ✓ Large network scale (360K–400K experts per HK IPO filings) with strong Asia weighting
- ✓ Competitive pricing relative to major Western expert networks
- ✓ Dual-market positioning serving both Asian and Western institutional clients
Watch-outs
- ⚠ 2023 Chinese government raid and rectification process creates ongoing reputational and regulatory uncertainty
- ⚠ Cross-border compliance complexity — clients must evaluate whether Capvision's dual-jurisdiction positioning aligns with their own compliance requirements
- ⚠ Hong Kong IPO plans suspended following 2023 events; financial trajectory less certain
- ⚠ AI and technology platform less mature than newer technology-first competitors
- ⚠ Western market coverage less deep than dedicated Western-focused expert networks
- ⚠ Less transparent public information about current operational scale and financial health
Deep Dive
1 Overview
2 History
Capvision was founded in 2006 in Shanghai by Roger Xu and Kai Hong, both of whom came from backgrounds in management consulting and investment banking. The firm originally focused on sourcing expert advisors within China for global institutional clients, and gradually expanded its network and geographic footprint. By the early 2020s Capvision had grown to 600+ employees and was positioning for a Hong Kong IPO. However, the company's trajectory was significantly disrupted in 2023 when Chinese state security authorities raided its offices as part of a broader crackdown on consulting and due diligence firms operating in China.
3 Services in Detail
Expert Consultations
One-on-one or group consultations connecting clients with industry professionals who have direct operational experience in specific sectors, companies, or markets. Capvision offers optional live language translation, making it particularly effective for cross-border research involving Asian markets. The firm facilitated approximately 150,000 consulting calls annually as of 2021–2022, with experts earning an average of $230 per hour.
Surveys
Quantitative and qualitative survey research leveraging Capvision's expert network to provide structured data on market conditions, competitive dynamics, and industry trends. Surveys can be paired with follow-up consultations for deeper investigation.
Industry Reports
Capvision produces and distributes industry-focused research reports drawing on its expert network and primary research capabilities, covering sectors across Asia and global markets.
Corporate Access / Events
Conferences, roundtables, and corporate access events that bring together industry experts, company management teams, and institutional investors. These events are particularly focused on Asian markets and cross-border investment themes.
Customized Research
Bespoke research projects combining expert consultations, surveys, and desk research into comprehensive deliverables tailored to specific client questions — often used for due diligence, market entry analysis, and competitive intelligence.
HR & Talent Services
Executive search and talent advisory services that leverage Capvision's expert network for recruitment and organizational consulting.
4 AI & Platform
Capvision's technology infrastructure centers on a proprietary CRM system that manages expert matching, client relationships, and project workflows. The platform integrates third-party tools including Confirmit, Qualtrics, and ZoomInfo for survey delivery, data enrichment, and expert sourcing. While Capvision markets AI-assisted matching and automated compliance checks, detailed public documentation of specific AI capabilities is limited compared to some Western competitors. The platform also includes a mobile knowledge app for on-demand expert content delivery.
- ◆ Proprietary CRM system for expert matching and project management
- ◆ AI-assisted expert matching to client research needs
- ◆ Automated compliance screening across Chinese and international regulatory frameworks
- ◆ Integration with Confirmit and Qualtrics for survey delivery
- ◆ ZoomInfo integration for expert sourcing and data enrichment
- ◆ Live language translation for cross-border consultations
- ◆ Mobile knowledge platform for on-demand expert content
- ◆ Multi-language support in platform interfaces
5 Compliance
Capvision's compliance story is uniquely complex due to its position straddling Chinese and international regulatory environments. Following the May 2023 raid by Chinese state security authorities, the firm underwent a government-supervised rectification process and announced comprehensive compliance reforms. The company now operates under enhanced scrutiny in China while also maintaining compliance frameworks aligned with Western regulatory expectations around MNPI and expert vetting.
- ● Dedicated compliance committee established in May 2023, chaired by CEO Roger Xu
- ● Completed government-supervised rectification in October 2023
- ● Comprehensive compliance system overhaul addressing identified gaps
- ● Dual compliance framework covering Chinese national security regulations and Western MNPI standards
- ● Regional compliance teams with local regulatory knowledge in each major office
- ● Expert screening adapted to both Chinese and international standards
- ● Audit trail capabilities for client interactions
In May 2023, Chinese state security authorities raided Capvision offices in Shanghai, Beijing, Shenzhen, and Suzhou and featured the investigation in a 15-minute CCTV broadcast, accusing the firm of facilitating the transfer of sensitive information to foreign entities. The probe alleged that between 2017–2020, Capvision received over 2,000 remittances from over 100 overseas companies totaling more than $70 million. Capvision completed a government-supervised rectification in October 2023. This was part of a broader crackdown that also affected Bain & Company, Mintz Group, and the Big Four accounting firms in China. Note: This was a Chinese national security investigation, not a U.S. SEC action as sometimes incorrectly reported.
6 Client Fit
Capvision is best suited for clients who need deep Asia-Pacific expertise, particularly those with investment or business interests in China and broader Asian markets. The firm's dual-market positioning makes it especially valuable for cross-border research where understanding both Asian and Western perspectives is important.
- → Institutional investors with Asia-Pacific portfolio exposure or investment mandates
- → Private equity firms conducting due diligence on Asian targets or portfolio companies
- → Consulting firms needing rapid access to industry experts in China, Japan, and Southeast Asia
- → Multinational corporations evaluating market entry or competitive dynamics in Asian markets
- → Research teams needing multilingual expert access across Asian languages
7 Notable Facts
- • Founded in 2006 — one of the oldest expert networks in Asia
- • Largest expert network headquartered in China (domestically known as Kaisheng Rongying)
- • Founded by former Bain & Company consultants and Morgan Stanley investment bankers
- • Valued at approximately RMB 2.3 billion (~$320M) in 2020 equity transfers
- • Filed for Hong Kong IPO twice (2021 and 2022) targeting $300M raise at $1.5–3B valuation
- • Raised $56.6M in total funding from investors including Huizhi Capital and Zhejiang Silk Road Fund
- • Facilitated 134,000 consulting calls in first nine months of 2021 alone
- • Average expert compensation of $230/hour, with rates ranging from $79 to $10,000/hour
- • Offices in Shanghai, New York, Munich, Hong Kong, Osaka, and Beijing
- • Partners with over 2,000 clients including institutional investors and Fortune 500 companies
- • Subject of a 15-minute CCTV broadcast during 2023 Chinese national security crackdown
- • Completed government-supervised rectification in October 2023
- • Formed strategic partnership with CEPRES in 2024 for private market analytics
8 Source Notes & Methodology
- ℹ Capvision official website (capvision.com) used for service descriptions and positioning claims
- ℹ Expert Opportunities (expertopportunities.com) review provided financial data, expert compensation details, and call volume statistics from Capvision's Hong Kong IPO filings
- ℹ CNN, CNBC, and South China Morning Post reporting used for 2023 investigation details
- ℹ Consultancy.asia used for rectification completion details
- ℹ Inex One and ExpertNetworkCalls.com used for independent third-party profile information
- ℹ PitchBook and Tracxn used for funding and valuation data
- ℹ Important correction: Previous profile incorrectly stated 'SEC investigation' — the 2023 probe was conducted by Chinese state security authorities, not the U.S. SEC
- ℹ CICC Capital (unit of China International Capital Corporation) publicly reported to have terminated its Capvision relationship during the 2023 crackdown — no other named clients found
9 Data Confidence Ratings
Each data point in this profile is graded for source confidence. Here's what each badge means:
This profile's ratings
10 How We Researched This
This profile was researched and written by the ExpertNetworks.net editorial team using a multi-source methodology:
- Primary sources: Company website, press releases, SEC/regulatory filings, and official announcements
- Third-party verification: Industry reports (Integrity Research, Inex One), news coverage (TechCrunch, Bloomberg, FT), and data aggregators (PitchBook, Tracxn, Crunchbase)
- Cross-referencing: Claims were checked against multiple independent sources where possible; single-source claims are flagged
- Confidence grading: Each data point is rated as Verified, Positioning (company-claimed), or Inference (estimated from indirect evidence)
We do not accept payment from any expert network for inclusion or favorable coverage. If you spot an error, contact us with the correction and source.
Last fact-checked: 2026-03-07