Though China's venture capital and private equity market only started in the early 2000s, it currently represents the second-largest PE/VC market in the world. A succession of regulatory reforms, expanding consumer power, and emphasis on innovation have fueled the rise of China's PE/VC industry, with transactions quadrupling from 2015 to 2020 compared to the previous five years. From 'Made in China' to 'Invented in China', a large shift of mindset is underway. In this article, we have curated a list of the top VCs and Angel Investors in China that are behind the movement.
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If you're thinking of raising funds in China, here are some reasons for your consideration:
1. Strong VC Funding
From foreign to domestic investments, China's VC market is active and growing. In 2021, venture capital investment in Chinese startups reached a record of $131 billion, according to Preqin data cited by Bloomberg. The Chinese government has also set up 358 guidance funds on the national, provincial, and city levels with capital raising targets of USD 665 billion. For example, The National Natural Science Foundation of China, an organization directly affiliated with China's State Council, has set up the Research Fund for International Scientists (RFIS) to support foreign scientists conducting basic research in China.
2. Supportive Government Policies
The Chinese government has played a proactive role in enhancing regulations, laws, and initiatives to make China a conducive and supportive place to start a business. For instance, tax incentives and financial policies have allowed entrepreneurs to enjoy lower tax rates, tax holidays, lower tariffs, easy business registration, simpler reporting and exporting process, and protection of minority investors. For example, in Shenzhen, one of China's 5 startup cities, startups enjoy a reduced rate of 15% corporate tax rate compared to the national 25%.
3. Expanding Consumer Market
Today, China is the world's fastest-growing consumer market. In 2019, the country's retail sales of consumer goods reached RMB 3.1 billion (approximately USD 426 billion). By 2030, Chin's private consumption is forecast to more than double to about $14 trillion, coming close to the size of the US private consumption. With a population of 1.5 billion, Chinese startups would not need to expand internationally right away, as the domestic market is big enough to serve.
What's the Difference Between an Angel Investor and a Venture Capital Fund?
Angel Investors: They are wealthy individuals who provide financial backing into ventures at the earliest stages in exchange for a minority stake. They invest in high-risk businesses with the goal of gaining returns, but oftentimes they are also interested in the idea, vision, and founders, and intend on helping the business get established. They invest a smaller amount of capital compared to venture capitalists, but the terms are more favorable than lenders. Angel investors may provide mentorship, industry knowledge, and hands-on support and offer access to industry connections for entrepreneurs. Angel investors may operate and invest individually, or as part of an angel group or angel syndicate.
Venture Capital Funds: They are professionally managed funds pooled from limited partners which are then invested into promising high-growth companies. Unlike angel investors, venture capitalists invest other people's money, mostly from large institutions, instead of investing their own private funds. Thus, they invest a larger amount of capital compared to angel investors, and would usually require a bigger equity as well as a position on the Board in exchange. They also invest in early-stage startups, however, they would assess companies with the following features: rapid and steady growth, proprietary technology, sound management team, and potential to be sold to the public or larger firms within the next several years. Venture capitalists may also provide strategic support and access to their larger network of industry connections.
Below, in no particular order, is our complete rundown of both these types of investment entities in the region.
Venture Capitalist Funds in China
The venture capitalist funds below are actively looking for investment opportunities in diverse sectors and at different stages. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed. All quoted investment ranges are in US Dollars unless otherwise stated.
Type: VC
Stage: Seed, Pre-Series A, Series A
Investment Value: $1 million - $5 million
Focus: Technology
Unity Ventures is an early-stage venture capital firm that was founded by Shaw Wang, one of the seven founding members of Chinese internet giant Baidu. Since 2011, they have managed 4 RMB-denominated funds and 1 USD fund, investing across frontier technology, enterprise services, new energy, biotech, and new consumption sectors. Some of their highlighted portfolios areas QingCloud, Airdoc, Momenta, and Tungee.
Type: VC
Stage: Seed, Series A
Investment Value: ~ $40 million
Focus: E-Commerce, Consumption, Education, Artificial Intelligence, Enterprise Service, Mobile Internet, Media, Entertainment and Sports, Intelligent Hardware and Virtual Reality, FinTech, Healthcare
ZhenFund was established by former entrepreneurs Bob Xiaoping Xu and Victor Qiang Wang in conjunction with Sequoia Capital China. Since its founding in 2011, ZhenFund has been named the "#1 Early-Stage Investment Firm" for six years. They invest in primarily seed-stage companies, as well as some Series A ventures. Outside of the capital, they are committed to assisting their entrepreneurs by offering mentorship, resources, and connections to Chinese VCs, CEO networks, consultants, and more. To date, they have over 800 firms and 30 Chinese unicorns in their portfolio, some of which are Intellifusion, SmartMore, DeepGlint, and Enflame, among many others.
Type: VC
Stage: Seed, A Series A
Investment Value: $1 million - $5 million
Focus: Blockchain, Cryptocurrency, Digital Asset, DeFi, Metaverse
Established in 2020, Axia8 Ventures is one of the fairly new VC firms in China. However, they have since amassed an outstanding portfolio of 55 firms. Their primary focus is on the blockchain and cryptocurrency industries, investing in the future of on-chain activity by collaborating closely with early-stage teams. They provide strategy, networks, and resources, and facilitate synergies among their portfolio companies. Some of their portfolio companies are Animoca Brands, SOLV Protocol, Denet, and Findora.
Type: VC
Stage: Seed, A Series A
Investment Value: $500,000 - $1 million
Focus: Consumer
Cyanhill Capital invests in early-stage businesses in the Chinese consumer market. They are dedicated to fostering consumer-centric innovation and offer mentoring programs, think tanks, and risk control services. This includes advising and assisting on key business activities such as strategic layout, branding and public relations, distribution, market research, and legal and financial affairs. Their portfolio companies are Zhaoliangji, Reflower, Landbase, Ucommune, Uisee, X Financial, and more.
Type: VC
Stage: Seed, Series A
Investment Value: ~ $60 million
Focus: Industry Internet, New Services, New Consumption, Advanced Manufacturing
QF Capital, otherwise known as Qifu Capital, is an early-stage venture capital firm specializing in industrial investments, with new materials at the core. They are dedicated to positively contributing to China's economic restructuring, industrial upgrading, and independent innovation. Their portfolio companies include Gaotu Techedu, Piesat Information, Tianyishangjia, Lvji Technology, Road Environment, Pop Mart, CFMEE, Inno Laser, and Life Strong.
Type: VC
Stage: Seed, Series A
Investment Value: $500,000 - $40 million
Focus: Technology
With offices in 5 locations across China, THG Ventures is one of the largest venture capital institutions under Tsinghua Holdings, an in-house asset management company established in the 1990s by Tsinghua University. They have been actively involved in the early-stage technology investment market, establishing institutional brands such as Tsinghua Science and Technology Park Incubator and Tus Ventures. To date, they have successfully made investments in 205 companies, of which 17 had undergone IPOs, and 38 were transferred through M&A and exits. Some of their exited projects are Highlander, Sumavision, GidaDevice, TVM, among others.
Type: VC
Stage: Seed, Series A
Investment Value: $2 million - $20 million
Focus: Technology, AI-enabled Enterprise Software, Consumer Platforms, Healthcare Technology
Driven towards disruption rather than progress, GSR Ventures China invests in the most revolutionary and innovative entrepreneurs - those who are creating a new path in the enterprise services, consumer internet, and medical fields. They believe in the power of knowledge and action and assist entrepreneurs in uniting them by lending them the knowledge, market expertise, and insight of entrepreneurs, engineers, physicians, and business executives on their team. As of 2022, they have 7 USD funds and 4 RMB funds in operation with a total managed capital amounting to $3 billion. Some of their portfolio companies you should get to know are Didi Travel, Qunar, Little Red book, and Ele.me.
Type: VC
Stage: Seed, Series A
Investment Value: $1 million - $30 million
Focus: Technology, Media and Telecommunications (TMT)
Meridian Capital, otherwise known in China as Huaying Capital, is a premier VC firm in the Technology, Media, and Telecommunications field. Amongst one of the earliest funds to deploy in the mobile Internet and cultural industries, they have profound insight and grasp of the industry's development. Huaying Capital's investment stage is mostly at the Series A round, extending up and down in vertical sectors to develop a closed-loop business environment. Since its inception in 2008, they have launched 6 RMB funds and 2 SGD funds with a total managed fund of more than 6 billion RMB invested in over 160 firms. Some of these firms are Xinjian Zhikong, Zhongke Haiwei, FITBEE, Mabang ERP, and more.
Type: VC
Stage: Seed, Series A, Series B
Investment Value: $3 million - $50 million
Focus: Mobile, Consumer Internet, Software & Services
DCM is a venture capital firm that invests in high-impact tech startups across the globe. With offices in Silicon Valley, Beijing, and Tokyo, they have an immense global advantage and provide unprecedented cross-border access and experience. They work closely with their global portfolio companies and strategic partners to foster knowledge exchange, facilitate business development in international waters, and access financing from the top strategic and financial investors worldwide. They have invested in over 400 companies since 1996, some of which they highlight are 1 Mainstream, About.com, BitTorrent, Careem, Kakao, and others.
Type: VC
Stage: Seed, Series A, Series B
Investment Value: $5 million - $70 million
Focus: New Economy
With the mission to help young entrepreneurs shape their futures, K2VC supports and invests in entrepreneurs as they strive to reach the pinnacle of business and technology. The VC funds manage both RMB and USD funds. Their focus is on an early investment in technology-enabled ventures in the new economy, such as in the Internet, consumer, medical care, and other industries. To date, they have invested in over 500 high-growth businesses spanning from seed through Series B rounds. Their portfolio includes Tiger Brokers, Moji, Fordeal, Exegenesis Bio, Cornerstone Robotics, and many more.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $1 million - $50 million
Focus: AI & Deep Tech, Robotics & Automation, Enterprise Software, Semiconductors & Chips, Healthcare Tech, Sustainability Tech
Sinoation Ventures is a Chinese venture capital firm that invests in diverse verticals spanning the technology sector. Founded in 2009, they presently manage 10 USD and RMB funds
with over $3 billion in assets, investing from seed to growth stage. As part of their portfolio management, they provide integrated investment and professional services. This includes advisory in financial, tax, legal, employment, branding, and business development. They also provide refinancing and IPO support, along with the international entrepreneurs' community and investor network through their "Founders Society" and "Yale Sinovation Fellow Program". Part of their portfolio companies is Meditrust, Sermatec, Horizon Robotics, MYMRO, Momenta, and Transn.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $15 million - $100 million
Focus: AI/ML, Consumer, Cryptocurrency, Enterprise, FinTech, Healthcare
Sequoia Capital is a renowned global venture capital firm that specializes in seed to growth-stage investments across the technology spectrum. They are committed to supporting startups from day 1 through to IPO, collaborating with both new and experienced ventures towards growth. In China, they are the backers behind significant companies such as Headlines today, Alibaba, Sina, JD.com, and Didi.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $5 million - $50 million
Focus: CleanTech, Healthcare, Cultural, Consumer Goods and Service, Technology, Media and Telecommunications (TMT), New Materials, Advanced Manufacturing
Addor Capital is one of the most influential investment firms in China, operating private equity investments, venture capital investments, mergers and acquisitions, real estate business, and funds of funds. They advocate for whole industry chain investment, investing in seed through to growth stage companies across diverse sectors. In terms of industry research skills, asset management scale, and investing specialism, they are at the forefront of the industry; showcased by their collection of awards and accolades. They continue to pursue long-term value and invest in leading technologies, some of which are Suntech Power, ZeverSolar, Sinoma Energy Savings, Almaden, and more.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $2 million - $50 million
Focus: Future of Health, Enterprise Productivity, New Consumer
On a mission to find the next big thing, MSA Capital invests in the next wave of disruptive technology, science and service-enabled businesses. To do so, they collaborate closely with entrepreneurs and technical specialists on concept creation and theme development. Based in Beijing, they have strong relationships with the local startup community, universities, accelerators, and government institutes as well as international value-creation partners to help connect and grow Chinese ventures to the world. Some of their portfolio companies in China are Meituan, Cider, Pyrotech, Uniskin, and Axbio.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $1 million - $15 million
Focus: Hard Tech, Digital Industrial, New Material, Advanced Manufacturing, Energy and Environment
CM Venture Capital invests and supports startups in the hard-technology space which are developing transformational technologies to achieve carbon neutrality. They provide hands-on assistance to entrepreneurs in developing, proving, and scaling their inventions in competitive markets. Through their open innovation platform, they engage limited partners, government offices, the entrepreneur community, and portfolio companies to form strategic partnerships and advance industrial technologies. Their portfolio companies in China are Enwise, Prismlab, Xingtera, and Tetrels Technology, among others.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $15 million - $80 million
Focus: Industrial Digitization, Artificial Intelligence, Robotics, Advanced Manufacturing, Green Development, Enterprise Software, Healthcare and Biotech, New Consumption and New Brands, Global+
Source Code Capital invests in technology-driven innovations in various phases of development from seed to growth. Taking a founder-first approach, they place high importance on entrepreneurs and are committed to providing a holistic support system to promote entrepreneurial success. Presently, they manage around RMB 35 billion in funds in both RMB and USD, invested in over 300 companies since 2014. Some of the major companies in their portfolio are Bytedance, Meituan, KE Holdings Inc., and Li Auto.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $2 million - $200 million
Focus: Information Technology, Consumer Retail, Cross-border Expansion
Engage Capital is a venture capital firm that is committed to assisting Chinese startups in seizing disruptive innovation opportunities. Operating both USD and RMB funds, they manage over RMB 3 billion invested in early and mid-stage firms. They highly encourage "empowerment, symbiosis, and synergy" and champion long-term partnership and value creation for the growth of ventures. Some of their investments are Bigo, Shopline, Wook, Wattman, and Mangatoon.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $5 million - $15 million
Focus: Information Technology, Intelligent Manufacturing, Energy Conservation and Environmental Protection, Medical and Health, Consumer and Enterprise Services, Technology, Media and Telecommunications (TMT), Military
Through 22 years of operation, Fortune Capital has grown to be one of the most influential venture capital firms in China. They have propelled and led the aggressive growth of domestic emerging areas and emerging industrial chains. Their management fund size totaled RMB 36 billion, with over 680 investments, of which 132 have been listed on the stock exchange and a great number have evolved into industry leaders. Some companies under their portfolio are Bosch, Focus Media, Gigabit, Top Star, CapBio, Cansino, among many others.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $10 million - $80 million
Focus: Information Technology, Internet/ New Media/ Cultural Creativity, Bio-Tech/ Healthcare, New Energy/ Clean Technology, New Materials/ Chemistry., Advanced Manufacturing, Consumer Goods/ Modern Services
Shenzhen Capital Group is well-regarded as one of the top-ranking players in the VC/PE rankings in China. From 1999 to November 2021, they have amassed a stellar track record of 1369 investments, with 385 exits and 202 listed in 17 global capital markets; the total investment amount exceeding RMB 77.3 billion. SCGC primarily invests long-term capital in high-tech startups serving the developing market with innovative offerings. Some of their many notable portfolios are Weichai Power, Tencent Music, Raytron Technology, Sunway Communication, Sinovatio Technology, and Chipscreen Biosciences.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $5 million - $100 million
Focus: Internet/Digital Media, Cloud/SaaS, Mobile Software, Internet of Things (IoT)/Robotics
As the VC behind some of the largest tech startups known today, GGV Capital is a global venture capital firm with a stellar record of investments in category-leading startups around the world. The company oversees $9.2 billion in investments in the United States, Canada, China, Southeast Asia, India, Latin America, and Israel. Exclusive to their portfolio companies, they offer a growth platform to help startups scale as a leader and develop critical skills. They offer expert-led workshops and tactical playbooks around people management and go-to-market strategy to help founders navigate their path through growth. Some of the notable Chinese companies in their portfolio are Alibaba, Kujiale, Wish, Xpeng, and Zuoyebang, among many others.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $5 million - $80 million
Focus: New Consumption, New Technology, Healthcare
With the vision to empower humanity and create a better life, Gaorong Capital invests in advanced technology startups. They specialize in early to growth-stage investments, emphasizing the internet and technology to drive industrial productivity and efficiency as well as influence future advancements. To support innovative startups in their quest, Gaorong Capital has built a private community Ronghui, involving entrepreneurs, industry professionals, and opinion leaders from varied backgrounds and expertise to facilitate the exchange of diverse viewpoints. Some of the portfolio companies they highlight are Pinduoduo, BOSS Zhipin, Yatsen, HUYA, Roborock, Nuro, and YITU.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $5 million - $100 million
Focus: New Economy, Deep Tech, Industrial Digitalization, Healthcare, Frontier Technology, New Consumer Brands
Established in 2008, Matrix Partners China invests in early to growth-stage ventures in China, currently managing over RMB 50 billion. To provide value-added services to portfolio companies, they employ a large team of experts in strategy and operations, talent acquisition, and healthcare services, among others. To date, they have invested in more than 700 companies, some of which are XPeng, Momo, Youzan, Ele.me, MegaRobo, and so on.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $50 million - $200 million
Focus: New Industries, Internet Consumer, Healthcare, Media, Manufacturing 4.0, Green Economy
CICC Alpha is a subsidiary of China International Capital Corporation which manages equity investment funds targeting emerging industries. Their investment scope spans the full startup lifecycle from seed to late stages. They are committed to adding value to their portfolio companies by sharing their extensive industry experience and leveraging shareholders' brands and resources. Their portfolio companies include AInnovation, Enflame, Keenon Robotics, and iSpace China, among others.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $10 million - $130 million
Focus: Sector Agnostic
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $5 million - $100 million
Focus: Green Tech, Deep Tech, Enterprise Services, Health Tech, Consumer
Affiliated with Lightspeed Venture Partners, Lightspeed China Partners is its separate China-focused venture capital firm that invests in early and growth-stage startups across diverse tech sectors. They aim to become an "Innovator's Global Partner", providing Chinese startups with the resource support and platform to enter the global landscape. They have helped numerous startups to become industry leaders, some of which are Meituan, Pinduoduo, QingCloud Technology, Nemo, MediaV, amongst many others.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $10 million - $100 million
Focus: Technology, Consumer, Financial Services, Healthcare
Eight Roads is a leading global venture capital firm with operations in China, Europe, Israel, India, Japan, and USA. They have an unparalleled global reach and access to a global ecosystem that portfolio companies may leverage and learn from. In China, they have 92 investments to date, some of which are Alibaba, Betterlife Chemical, Cytek, Pony.ai, Tenafe, and more.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $5 million - $30 million
Focus: Technology, Health Technology, Media and Telecommunications (TMT), Consumption
Acting as the peers of entrepreneurs and the guide of great enterprises, Cowin Capital has brought many ventures to success throughout its 22 years of tenure. They have invested in over 500 firms, of which 100 have gone public and 150 have successfully exited. Investing from the starting point, they are dedicated to supporting startups through their growth and entry into the China capital market. Some of their portfolio companies that have successfully entered IPO are Linktel, CHLink, Puya, ETMade, and many more.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $1 million - $15 million
Focus: Technology, Mobile Internet, Internet+, Consumer, IoT, Smart Manufacturing, Deep Technology, Rural Internet
As the VC behind Chinese tech giants Xiamo, iQiYi, Pintec, Bytedance, and many more, Shunwei Capital's portfolio speaks for itself. They invest in early to growth-stage startups across diverse technology spectrums and are committed to aiding founders to realize their entrepreneurial aspirations and build world-leading firms.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $1 million - $100 million
Focus: Technology, Media and Telecommunications (TMT), Advanced Technology, Healthcare
Northern Light VC invests in early-stage opportunities in disruptive technologies. Since 2005, they have operated 6 USD funds and 4 RMB funds, both totaling $4.5 billion in managed capital. They invest 70% of their funds in Series A rounds, 20% in Series B rounds or the later stages, and 10% in seed-stage companies. Aside from capital, they dedicate guidance, network, and other resources to help startups succeed. Their portfolio company includes Aerohive Networks, Dajie, Hachibot, RiVAI, Tidal Systems, and many more.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $5 million - $80 million
Focus: Technology, Media and Telecommunications (TMT), Clean Technology, Healthcare, Consumer/Retail, Advanced Manufacturing
SB China Capital invests in high-growth, high-tech companies across all stages of development. They take pride in their ability to identify and nurture innovative companies that have gone on to become global leaders. Some of their featured portfolio companies are Alibaba, Taobao, Focus Media, GDS, BGI, Di'an, and Edan. Aside from funding, they assist portfolio companies in maximizing their strategic and commercial potential by providing services and advice which includes business planning and development, talent acquisition, and resource deployment.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $10 million - $30 million
Focus: Technology, Media and Telecommunications (TMT), Healthcare
Qiming Venture Partners is a leading venture capital firm with a total capitalization of $9.4 billion, spread across 11 USD funds and 7 RMB funds. They concentrate their investments in sectors they are familiar with and have deep relationships in, namely in TMT and Healthcare, and they leverage their ecosystem to assist startups in these industries. Many of their portfolio companies are leaders in their respective industries, such as Xiaomi, Meituan, Schrödinger, Bilibili, and SinocellTech.
Type: VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $1 million - $300 million
Focus: Technology, Media and Telecommunications (TMT), New Forms of Consumption and Services, Consumer and Entertainment, Healthcare, Advanced Manufacturing/Clean-Tech and Clean Energy
Founded in 1992, IDG Capital is a leading investment firm dedicated to developing outstanding and impactful companies. To date, they have invested in over 1400 companies and achieved 400 exits through private equity, venture capital, and mergers and acquisitions activities. They are in it for the long run, investing in startups at all development stages and leveraging successful Chinese business models and foreign technology and industrial know-how to aid in the startup's progress. They showcased their case studies and action plan for two of their successful portfolio companies, Longshine and Meitu, on their website.
Type: VC
Stage: Series A
Investment Value: $15 million - $30 million
Focus: Deep Tech, Healthcare, Consumer Tech
With 20+ unicorns under their belt and 93% of their portfolio companies successfully secured follow-on funding, Vertex Ventures China has proven its capabilities in assessing and assisting promising startups to succeed. Part of Vertex Ventures, a global venture capital fund network, they have unrivaled expertise and network access in establishing global firms. They also offer financial assistance and value-added services to portfolio firms, some of which are Mobike, Chipscreen, Recbio, Smarter Micro, and more.
Type: VC
Stage: Series A
Investment Value: $100,000 - $15 million
Focus: New Technology, New Retail
Tisiwi Ventures invest in early-stage entrepreneurs with a mission to make the world a better place. They advocate the use of Internet models and innovative methods to propose solutions and improvements to common challenges in society. They offer 2 unique value propositions to startups applying to their VC: 1) each investment manager will give fast feedback to the project within 100 hours, and 2) there is no need for a business plan, you just need to answer the 8 questions in their online application. Their portfolio companies include UniUbi, ClouGence, ArchiFiction, and Bosie, among many others.
Type: VC
Stage: Series A, Series B, Series C
Investment Value: $10 million - $100 million
Focus: Artificial Intelligence, Internet Software, Health Care, Biotechnology
Where others see idealists, they see visionaries. 5Y is the VC behind some of the biggest ventures today, namely Trip, Joyy, Xiaomi, WeDoctor, and Agora, among others. They are committed to assisting entrepreneurs in building great businesses that can impact the world positively. Their founders' testimony and many successful portfolio companies are proof that they make good on their word.
Type: VC
Stage: Series A, Series B, Series C
Investment Value: $8 million - $50 million
Focus: Internet
As an interpretation of their name, Mount Morning Capital wishes to become the companion of entrepreneurs to climb the peak of innovation and serve social progress for the world. The VC invests in early to growth-stage companies centered on the theme of "Data-Driven Industrial Internet." In terms of core technologies, 5G, IoT and AI are their focus, and in terms of industrial applications, they invest in all data-driven vertical industry applications and service innovations. Amongst many of their industry-leading portfolio companies are, Meituan, Longshine Technology, Focus Media, Tuya Intelligence, and many more.
Type: Corporate VC
Stage: Seed, Series A, Series B, Series C
Investment Value: $8 million - $80 million
Focus: Green Technology, Healthcare, Transportation, Infrastructure & Logistics, Technology, Media and Telecommunications (TMT), Advanced Manufacturing, Real Estate, Financial Services & FinTech
China Merchants Capital pride itself as the pioneer of industrial commerce and finance. As China's first venture capital fund manager, they have an extensive 20 years of experience with USD 47 billion under management at present. As a subsidiary of China Merchants Group (CMG), they have a global platform of resources, network, and strong sector knowledge to provide centralized support services to portfolio companies. Some notable portfolio companies are Eve Energy Company, Novogene, Jingdong Logistics, Pony.ai, and Innoviz.
Angel Investors in China
The Angel investors listed below are part of an Angel group that might act individually or collectively to provide funding. As individual Angel investors are hard to come by, these platforms are the best place to network with individuals who might be interested in what you have to offer.
Type: Angel Platform
Stage: Seed
Investment Value: -
Focus: Sector Agnostic
Though individual angel investors are quite common in China, there are not as many angel investment networks in the country as there are in the Western world. As such, Angel Investment Network established its branch in China to provide a platform where small firms and entrepreneurs can find and connect with private investors in China.
Type: Angel Network
Stage: Seed
Investment Value: $30,000 - $3 million
Focus: Sector Agnostic
AngelVest is an angel investment network that invests in early-stage firms with an Asian emphasis. The group is comprised of over 70 accredited angel investors, many of whom are accomplished entrepreneurs, corporate leaders, venture capitalists, and private equity investors. With vast China and worldwide experience as well as deep industry knowledge, they provide a platform for early-stage entrepreneurs and startups to get valuable mentorship from their members.
Closing Thoughts on VCs and Angel Investors in China
As of 2022, China has birthed 312 unicorns, ranking second in the number of unicorns globally. Five of the top 10 most valuable unicorns worldwide also belong to China, a testament to the powerful startup ecosystem in the country. Innovation and business-friendly government policies, strong VC funding, expanding market size, bustling academic and industry collaborations, and increasing advanced infrastructures are some reasons why China has been able to build and maintain a supportive environment for startups to thrive. If you're a startup in China, getting in touch with any of these VCs or angel investors could just be the key you need to secure your path to success.