Zhang Yiming's investment fund under his control has been issued a license number 9 by the Hong Kong Securities and Futures Commission.

According to the announcement of the Securities and Futures Commission of Hong Kong, Cool River Venture HK Limited, founded by Zhang Yiming, co-founder of ByteDance, was granted License No. 9 (Asset Management License) on November 21, 2024 by the Securities and Futures Commission of Hong Kong. After receiving the license, it can carry out asset management business in Hong Kong. ByteDance declined to comment on this. The official website of the Companies Registry of Hong Kong Special Administrative Region shows that Cool River Venture HK Limited was registered on May 22, 2023. Reports suggest that Cool River Venture is a private limited company, with Zhang Yiming as the sole director and Galaxy LLC as the sole shareholder, registered in the Cayman Islands. Reports suggest that Cool River Venture is similar to a private equity fund. The fund's main investment direction is in the technology-related industries. It is reported that in May 2021, Zhang Yiming officially stepped down as CEO of ByteDance. In a company-wide message, he mentioned focusing on long-term important matters such as vision strategy, corporate culture, and social responsibility. He also emphasized the impact of technological changes in areas like virtual reality, life sciences, and scientific computing on human life.