Top VC Firms in China
The 25 highest-scoring venture funds headquartered in China, ranked from 41 eligible firms on a 110-point composite of portfolio outcomes, deal volume, risk adjustment and cheque-size fit.
Invests in fast-growing businesses within the consumer and retail, digital transformation, education, healthcare and life sciences, and sustainable supply chains sectors. Focuses on partnering with talented founders operating rapidly growing companies in Western Europe, Asia (India, China and Southeast Asia) and the United States.
Investments
22
Exit Rate
4%
Alive
59
Portfolio Outcomes
Score Breakdown
5Y Capital (formerly known as Morningside Ventures) is a venture capital firm that invests in early to growth-stage companies across various sectors, including healthcare, consumer, and technology.
Investments
26
Exit Rate
3%
Alive
25
Portfolio Outcomes
Score Breakdown
Investments
46
Exit Rate
2%
Alive
37
Portfolio Outcomes
Score Breakdown
Focuses on Series B investments in China. Primarily invests in the Industry & Hardware sector, supporting B2B companies.
Investments
29
Exit Rate
0%
Alive
22
Portfolio Outcomes
Score Breakdown
Focuses on investments in the consumer, lifestyle, and services sectors, primarily in China. They typically invest in companies at the Series F stage.
Investments
34
Exit Rate
0%
Alive
28
Portfolio Outcomes
Score Breakdown
Focuses on early-stage investments in China. Primarily invests in the consumer, lifestyle, and services sectors, targeting B2C companies.
Investments
69
Exit Rate
5%
Alive
49
Portfolio Outcomes
Score Breakdown
Investments
53
Exit Rate
0%
Alive
36
Portfolio Outcomes
Score Breakdown
Invests in late-stage companies in China. Focuses on the Healthcare & Life Sciences sector.
Investments
37
Exit Rate
3%
Alive
29
Portfolio Outcomes
Score Breakdown
Focuses on early and growth-stage investments in the healthcare and life sciences sectors across Asia. They target companies with innovative technologies and strong growth potential.
Investments
15
Exit Rate
7%
Alive
13
Portfolio Outcomes
Score Breakdown
Baidu Ventures (BV) is an independent venture capital firm focusing on artificial intelligence (AI) and deep technology. They invest in early-stage companies with innovative technologies and high growth potential.
Investments
16
Exit Rate
0%
Alive
10
Portfolio Outcomes
Score Breakdown
ZhenFund focuses on early to growth-stage investments primarily in China, investing in technology, healthcare, and AI sectors. The firm supports startups across B2B, B2C, and B2B2C models, aiming to back visionary entrepreneurs with scalable business potential.
Investments
75
Exit Rate
0%
Alive
58
Portfolio Outcomes
Score Breakdown
SIG invests in early- to growth-stage technology startups, focusing on AI, cybersecurity, and SaaS sectors primarily in the US and Asia-Pacific. They prioritize scalable B2B and B2B2C models driving innovation across fintech and enterprise technology.
Investments
63
Exit Rate
1%
Alive
49
Portfolio Outcomes
Score Breakdown
Alibaba Group is a large conglomerate that invests across various sectors, primarily focusing on companies that can benefit from or integrate with its existing e-commerce ecosystem. They target growth-stage companies in sectors like e-commerce, logistics, digital media, and technology, with a strong interest in the Chinese and Indian markets.
Investments
30
Exit Rate
6%
Alive
22
Portfolio Outcomes
Score Breakdown
INCE Capital focuses on investments in China. They primarily invest in consumer, lifestyle, and services companies at the U stage.
Investments
13
Exit Rate
0%
Alive
7
Portfolio Outcomes
Score Breakdown
Investments
12
Exit Rate
0%
Alive
12
Portfolio Outcomes
Score Breakdown
Trustbridge Partners is a growth equity firm focusing on investments in the consumer, healthcare, and technology sectors in China.
Investments
10
Exit Rate
10%
Alive
8
Portfolio Outcomes
Score Breakdown
Fenbushi Capital focuses on investments in the blockchain and finance sectors. They primarily target early-stage companies, particularly at the Series A stage, with a global geographic focus.
Investments
6
Exit Rate
0%
Alive
5
Portfolio Outcomes
Score Breakdown
Arbor Ventures is a global early-stage venture capital firm focused on shaping the future of FinTech, SaaS, and digital commerce through data-driven business models.
Investments
10
Exit Rate
0%
Alive
7
Portfolio Outcomes
Score Breakdown
Enlight Growth Partners is a China-focused growth capital investor. They target opportunities in supply chain, data, fintech, SaaS and IoT.
Investments
42
Exit Rate
0%
Alive
18
Portfolio Outcomes
Score Breakdown
Focuses on investments in China, the US, and East Asia. Primarily invests in series B stage companies within the Industry & Hardware sector, as well as AI-enabled enterprise software, consumer platforms and healthcare technology.
Investments
28
Exit Rate
7%
Alive
23
Portfolio Outcomes
Score Breakdown
Boyu Capital focuses on late-stage investments primarily in China, with a key emphasis on healthcare, biotech, technology, and consumer internet sectors. They back growth-stage startups positioned to scale rapidly in these high-potential markets.
Investments
13
Exit Rate
8%
Alive
11
Portfolio Outcomes
Score Breakdown
Blue Pool Capital is a private investment firm investing on behalf of the owners of Alibaba Group. They invest across a range of asset classes, including private equity, real estate, and public securities.
Investments
7
Exit Rate
0%
Alive
5
Portfolio Outcomes
Score Breakdown
Gobi Partners is a Pan-Asian venture capital firm focusing on early-stage startups. They invest in fintech, e-commerce, and logistics companies, particularly in Southeast Asia and China.
Investments
5
Exit Rate
0%
Alive
6
Portfolio Outcomes
Score Breakdown
GL Ventures focuses on investments in the Healthcare & Life Sciences sector, primarily in China. They invest in companies at the Series B and C stages.
Investments
17
Exit Rate
0%
Alive
12
Portfolio Outcomes
Score Breakdown
Investments
5
Exit Rate
0%
Alive
2
Portfolio Outcomes
Score Breakdown
Methodology
What the score measures, who is eligible, and what it deliberately excludes.
- How is the Brouky score for China calculated?
- Each firm is scored out of 110 points across four measured components: portfolio outcomes (40), deal volume (30), risk adjustment (25) and cheque-size fit (15). The score is computed from tracked investments and portfolio company status. It is not editorial and firms cannot influence it.
- Which firms are eligible for the China ranking?
- Venture and corporate venture funds headquartered in China with at least 5 tracked investments. 41 firms qualify; the top 25 are listed. Angel investors, family offices, banks, accelerators and government vehicles are excluded because they are scored on a different basis and are not comparable.
- How often is the ranking updated?
- Scores are recomputed as new investments and portfolio outcomes are recorded, and this page refreshes daily.
- My fund's data looks wrong. Can it be corrected?
- Yes. Claim the fund's profile on Brouky to review the underlying investments and portfolio records, and the score updates from the corrected data.