文章盘点了上海的31家风险投资机构，并介绍了其中部分投资方的相关信息，包括光速中国和礼来亚洲基金等。
Shanghai's startup ecosystem is full of founders with big ideas, and there are many investors ready to listen.
Some firms are especially active, with Lilly Asia Ventures making over 200 investments and Yunqi Partners close behind with almost 200 of their own.
Below is our list of the best 31 VC firms in Shanghai.
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As the Chinese arm of Lightspeed Venture Partners, they back early-stage startups across consumer internet, enterprise technology, and deep tech. The firm is committed to helping Chinese founders build industry-leading companies, with a portfolio that includes successes like Meituan and Pinduoduo.
Year Founded2006 FoundersHerry Han, James Mi, Ron Cao Investment StageEarly Stage, Late Stage, Private Equity, SeedNº of Investments173 (68 as Lead Investor) Nº of Exits10 (7 IPO'd) Contactdream@lightspeedcp.com / +86 21 6535 3536Sky9 Capital backs founders building disruptive technologies across the consumer, enterprise, and deep tech sectors, aiming to drive positive societal and environmental change. Managing both USD and RMB funds, the firm supports companies from seed to late stage, and its portfolio includes the e-commerce giant Pinduoduo.
Year Founded2016 FoundersRon Cao Total Funding$640MIndustriesAI & ML, Crypto & Blockchain, Enterprise, Fintech, Consumer, Internet & MobileInvestment StageEarly Stage, Late Stage, SeedNº of Investments136 (26 as Lead Investor) Nº of Exits7 (4 IPO'd) Top Portfolio StartupsWilling, NodeReal, CyberConnectContactinfo@sky9capital.com / +86 (21) 5238 3699As the venture capital arm for pharmaceutical company Eli Lilly and Company, Lilly Asia Ventures backs promising life science companies across Asia. They invest from early to late stages, primarily in China, supporting companies with innovative technology and business models.
Year Founded2008 FoundersYi Shi Investment StageEarly Stage, Late StageNº of Investments219 (62 as Lead Investor) Nº of Exits46 (36 IPO'd) Contactinfo@lillyasiaventures.com / +86 21 2316 9588Focusing on China's market, they provide growth capital to early and expansion-stage companies with high growth potential and demonstrated revenue models. Beyond capital from its multiple USD and RMB funds, DT Capital Partners offers portfolio companies its extensive experience in Chinese capital markets and government relationships.
Year Founded2006 FoundersJoe Tian, Roman Shaw Investment StageEarly Stage, Late Stage, Post-Ipo, SeedNº of Investments139 (35 as Lead Investor) Nº of Exits17 (10 IPO'd) Contactinfo@dtcap.com / +86(21) 5383 5999Focusing on the healthcare industry, Apricot Capital backs companies from their early stages through public offerings in fields such as biopharmaceuticals and medical diagnostics. Their team of over 20 professionals offers guidance rooted in direct experience across life sciences, medicine, finance, and law.
Year Founded2015 FoundersLiu Wenyi, Weixiong Mao Investment StageEarly Stage, Late Stage, Post-Ipo, SeedNº of Investments34 (17 as Lead Investor) Nº of Exits4 (4 IPO'd) ContactPr@apricot-capital.com / 021 – 6422 0689Backing B2B technology startups in China, Enlight Growth Partners provides early growth capital for companies specializing in AI, cloud, and supply chain. The team draws on deep experience in these fields to cultivate promising Chinese entrepreneurs and scale their businesses.
Year Founded2017 FoundersPerry Chui Investment StageEarly StageNº of Investments37 (14 as Lead Investor) Nº of Exits— Contactinfo@egpvc.com / +86 21 5820 2090CM Venture Capital invests in companies creating transformational industrial technologies, specializing in "hard tech" innovations like new materials, advanced manufacturing, and environmental solutions. They provide hands-on expertise to help entrepreneurs develop and scale their businesses for a global market, driving change in industries from 5G to healthcare.
Year Founded2010 FoundersMin Zhou, Patrick Berbon, Yijia Hua Investment StageEarly Stage, Late Stage, SeedNº of Investments24 (15 as Lead Investor) Nº of Exits2 (1 IPO'd) Contactinfo@cmventure.net / 86-21-6140-9770Yunqi Partners funds the digital transformation of industries by backing startups in advanced manufacturing, IoT, SaaS, and B2B supply chains. Their systematic investment strategy supports ventures from the earliest seed rounds through later growth stages to help industrialize new technologies.
Year Founded2014 FoundersMichael Mao, Yi Pin Ng Investment StageEarly Stage, Late Stage, SeedNº of Investments199 (50 as Lead Investor) Nº of Exits7 (2 IPO'd) Contactbp@yunqi.vc / (021)64681818Fosun International operates as a global investment holding company, backing businesses in sectors ranging from healthcare and finance to property and steel. They apply a flexible investment model that supports companies from early-stage ventures to mature enterprises through private equity and secondary market investments.
Year Founded1992 FoundersGuo Guangchang, Liang Xinjun, Mohd Fairuz Razi bin Sharuddin, Wang Qunbin Investment StageEarly Stage, Private EquityNº of Investments119 (52 as Lead Investor) Nº of Exits23 (17 IPO'd) Contactinvestment@fosun.com / (86 21) 2315 666601vc makes early-stage investments in mobile internet and B2B marketplace startups across China and Southeast Asia. They support companies in sectors like SaaS, logistics, and e-commerce, and have backed the on-demand delivery platform Lalamove.
Year Founded2014 FoundersIan Goh Investment StageEarly Stage, Late Stage, SeedNº of Investments63 (12 as Lead Investor) Nº of Exits2 Contactinfo@01vc.com / +021-6313628821 Additional Shanghai VC Firms Worth Pitching
Our top picks are just the beginning of the funding story in Shanghai. The firms below have collectively backed over 1,200 startups and guided more than 130 of them to an exit.
There's a wide range of investors ready to back new ideas, from seasoned players to newer, focused funds. Here’s a look at the other venture capital firms funding what's next in Shanghai.