Top Venture Capital Firms in CN (2025)
13 leading venture capital firms
5Y Capital (险峰资本)
5Y Capital (formerly XianFeng Changqing) is a leading early-stage venture capital firm in China. Founded in 2010, 5Y has invested in over 400 startups including 3 unicorns per year on average.
Capital Today (今日资本)
Capital Today is a leading growth equity firm in China founded by Xu Xin (Queen of VC in China) in 2005. Capital Today has invested in iconic consumer brands including JD.com, Luckin Coffee, and NIO.
GSR Ventures (金沙江创投)
GSR Ventures is a leading venture capital firm focused on early-stage investments in China and the US. Founded in 2004, GSR has invested in companies like Didi Chuxing, ByteDance, Luckin Coffee, and Little Red Book.
Hillhouse Capital (高瓴资本)
Hillhouse Capital is one of Asia's largest investment firms with over $100 billion in assets under management. Founded in 2005, Hillhouse has invested in companies like Tencent, JD.com, ByteDance, and Airbnb.
IDG Capital
IDG Capital is a leading venture capital and private equity firm in China, focusing on technology, media, and telecommunications. Founded in 1993, IDG has invested in companies like Baidu, Tencent, and Xiaomi.
Sinovation Ventures (创新工场)
Sinovation Ventures (Innovation Works) is a leading venture capital firm in China founded by Dr. Kai-Fu Lee in 2009. With a focus on AI and technology, Sinovation has invested in over 400 companies including Megvii, 4Paradigm, and Momenta.
Joyful Capital (愉悦资本)
Joyful Capital is an early-stage venture capital firm in China founded in 2015 by Liu Erhai (former partner at Bertelsmann Asia Investments). Joyful Capital focuses on smart technology and new consumption, with investments in companies like Luckin Coffee, Mobike, and Xiaopeng Motors.
Matrix Partners China
Matrix Partners China is one of China's leading venture capital firms. It has invested in over 400 companies including Xiaomi, DJI, ByteDance (Douyin), and Meituan.
Morningside Venture Capital (晨兴资本)
Morningside Venture Capital is a leading early-stage venture capital firm in China. Founded in 2008, Morningside has invested in companies like Xiaomi, Kuaishou (Kwai), Zhihu, and Meituan-Dianping, becoming one of China's most successful early-stage investors.
PreAngel (真格前身/天使投资)
PreAngel is one of China's most active angel investment firms, focusing on very early-stage startups. Founded by Wang Lijie in 2011, PreAngel has invested in over 300 startups across China and the US, with a focus on mobile internet, AI, and consumer technology.
Qiming Venture Partners (启明创投)
Qiming Venture Partners is a leading venture capital firm in China with over $9 billion in capital under management. Founded in 2006, Qiming has invested in over 470 companies including Xiaomi, Bilibili, and Meituan.
Sequoia Capital China
Sequoia Capital China focuses on technology investments in Greater China. The firm has backed leading Chinese companies like Alibaba, ByteDance, Meituan, and JD.com across various stages of growth.
ZhenFund
ZhenFund is an early-stage venture capital firm in China founded by Xu Xiaoping and Bob Wang. The firm focuses on angel and Series A investments in technology startups, with notable investments in companies like VIPKID and Mobike.