Crestwave Capital
14 Sept 2026
Crestwave Capital announced its recent investments in Dtech and Zhongji InnoLight, further expanding the firm’s exposure to the infrastructure layer underpinning the global AI economy.
Singapore, September 2026 – Crestwave Capital announced its recent investments in Guangdong Dtech Technology Co., Ltd. (“Dtech”, 1377.HK; 301377.SZ) and Zhongji InnoLight Co., Ltd. (“Zhongji InnoLight”, 3308.HK; 300308.SZ), further expanding the firm’s exposure to the infrastructure layer underpinning the global AI economy.
Crestwave Capital participated as an anchor investor in Dtech’s Hong Kong offering and as a cornerstone investor in Zhongji InnoLight’s Hong Kong offering. The two investments extend Crestwave’s investment footprint across critical layers of next-generation technology infrastructure, from advanced manufacturing to high-speed optical connectivity.
Dtech is a leading integrated provider of precision manufacturing solutions for the global printed circuit board (“PCB”) manufacturing value chain. Its portfolio spans precision cutting tools, grinding and polishing materials, functional film materials, and intelligent CNC equipment. As AI servers and advanced electronics continue to require greater circuit density, precision and manufacturing complexity, technologies supporting high-performance PCB production are becoming an increasingly important part of the AI infrastructure supply chain.
Zhongji InnoLight is a global leader in high-speed optical interconnect solutions, providing advanced optical technologies that enable high-bandwidth data transmission across data centers and AI computing infrastructure. As AI training and inference workloads continue to scale, demand for faster and more energy-efficient connectivity is becoming a critical component of next-generation computing architecture.
Ray Li, CEO of Crestwave Capital, who led the two investments, commented:
“Dtech and Zhongji InnoLight stood out to us because both occupy critical positions in technology supply chains that are becoming increasingly important as AI infrastructure scales.
Dtech has established strong capabilities in precision manufacturing technologies serving increasingly sophisticated PCB applications, while Zhongji InnoLight has built a leading position in high-speed optical connectivity for data centers and AI computing.
In both cases, we saw proven technology leadership, strong industry positioning and clear exposure to structural demand from the continued expansion of AI infrastructure.”
The investments also reflect Crestwave Capital’s broader approach to AI investing: looking beyond individual applications or computing platforms to identify the technologies and industrial capabilities required for the entire ecosystem to scale.
Nicky Lin, Co-Founder and General Partner of Crestwave Capital, commented:
“We view AI as much more than a software or compute story. Its continued scale-up is driving upgrades across the technology infrastructure stack — from semiconductors and computing systems to optical connectivity, advanced manufacturing, energy and automation.
Our focus is on identifying companies positioned at critical points within these structural shifts. Some of the most durable opportunities may come from the enabling technologies that make the next generation of computing possible at scale.
Dtech and Zhongji InnoLight fit naturally within this framework and reflect how we are building exposure across multiple layers of the infrastructure behind the AI economy.”
Crestwave Capital congratulates Dtech and Zhongji InnoLight on their successful listings on the Main Board of the Hong Kong Stock Exchange. The two transactions further expand Crestwave’s portfolio across the AI and frontier technology value chain and reflect the firm’s continued conviction in companies positioned at critical points of global technology infrastructure.
About Dtech
Guangdong Dtech Technology Co., Ltd. is a leading integrated provider of precision manufacturing solutions. The company provides precision cutting tools, grinding and polishing materials, functional film materials and intelligent CNC equipment for key processes across the global PCB manufacturing value chain, with applications extending into AI servers, semiconductors, advanced electronics and other high-precision manufacturing sectors.
Dtech is listed on both the Shenzhen Stock Exchange and the Hong Kong Stock Exchange under stock codes 301377.SZ and 1377.HK, respectively.
About Zhongji InnoLight
Zhongji InnoLight Co., Ltd. is a global provider of high-speed optical interconnect solutions. The company develops and manufactures advanced optical communication products supporting data centers, cloud computing and AI infrastructure, and has established a leading position across successive generations of high-speed optical connectivity technology.
Zhongji InnoLight is listed on both the Shenzhen Stock Exchange and the Hong Kong Stock Exchange under stock codes 300308.SZ and 3308.HK, respectively.
About Crestwave Capital
Crestwave Capital is a Singapore-based fund management firm focused on frontier technology and next-generation industries. The firm invests in technology-driven opportunities where innovation, industrial transformation and global capital markets intersect, with a particular focus on companies and technologies shaping the infrastructure of the future.