Anna Fang is CEO of ZhenFund, one of the most influential angel investors in China. [Photo/Bloomberg]

Chen has set an example that's made an impact on younger generations. "For me, there were many role models, which was helpful when I started a family and was worried about how to manage being a mom and running a fund," said Fang of ZhenFund. Fang points to Chen as one of the models that convinced her she could balance the rigorous demands of her job with the role of being a mother.

Sally Shan, former head of Asia Pacific technology investment banking at JPMorgan & Chase Co, is now managing director of the $37 billion HarbourVest Partners and runs a college mentoring program to encourage female entrepreneurs. Lu, who's known Shan from her banker days, is a frequent lecturer there. "From the upstream limited partners, endowment world, family offices, to the general partners, there are a lot of women in China who are extremely competent," said Lu.

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