# Black Fish funding: rounds and investors

> Black Fish has raised $195M across 2 rounds since 2018. Investors include Lightspeed Venture Partners, JAFCO and Gobi. Every round with its source.

Source: https://millionrounds.com/company/black-fish (Millionrounds; every figure on the page links to its filing or article)

China · [Series A startup](https://millionrounds.com/companies)

# Who invested in *Black Fish*

2 rounds we have observed, with the 10 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Fintech Internet

Funding summary Updated 26 Oct 2026

**$195M** raised across 2 rounds since 2018, from 2 sources

**$145M** Round **$50M** Series A

- **Latest round:** Series A, $50M Aug 2018
- **Biggest round:** $145M Round · Jan 2018
- **Investors:** 10

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2018 2019

**$145M** Round

**$50M** Series A

- **First round:** Round, $145M
- **Biggest round:** $145M
- **Between rounds:** 7 months

## The rounds

- **Aug 2018** Series A **$50M** *4 new* *3 returning* [Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) [JAFCO](https://millionrounds.com/fund/jafco) [China Growth Capital](https://millionrounds.com/fund/china-growth-capital) [Rakuten Capital](https://millionrounds.com/fund/rakuten-capital) AlphaX/ Morningside Gobi Nanjing Fullshare Reported by China Money Network
- **Jan 2018** Round **$145M** *6 new* [Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) [Morningside Group](https://millionrounds.com/fund/morningside) [JAFCO](https://millionrounds.com/fund/jafco) Fullcent Gobi Zhang Tao Reported by China Money Network

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Round** 2018 **Series A** 2018 [Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) [JAFCO](https://millionrounds.com/fund/jafco) Gobi [Morningside Group](https://millionrounds.com/fund/morningside) [China Growth Capital](https://millionrounds.com/fund/china-growth-capital) [Rakuten Capital](https://millionrounds.com/fund/rakuten-capital) AlphaX/ Morningside Fullcent Nanjing Fullshare Zhang Tao

## Everyone who backed them

[Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) VC firm **2** rounds

[JAFCO](https://millionrounds.com/fund/jafco) Company **2** rounds

Gobi no record of our own yet **2** rounds

[Morningside Group](https://millionrounds.com/fund/morningside) VC firm **1** round

[China Growth Capital](https://millionrounds.com/fund/china-growth-capital) VC firm **1** round

[Rakuten Capital](https://millionrounds.com/fund/rakuten-capital) Corporate VC **1** round

AlphaX/ Morningside no record of our own yet **1** round

Fullcent no record of our own yet **1** round

Nanjing Fullshare no record of our own yet **1** round

Zhang Tao no record of our own yet **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=black-fish).

## Also claim to have backed them

These 2 firms list Black Fish as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

[Purple Ventures](https://millionrounds.com/fund/purple-ventures) VC firm Per its own site

[Second Foundation](https://millionrounds.com/fund/second-foundation) Investment firm Per its own site

## Quick answers about Black Fish

### Who invested in Black Fish?

Black Fish's investors include Lightspeed Venture Partners, JAFCO, Gobi, Morningside Group and China Growth Capital, and 5 more on record.

### How much has Black Fish raised?

Black Fish has raised $195M across 2 rounds since 2018.

### When did Black Fish last raise?

Black Fish's most recent round was a Series A of $50M in Aug 2018.

### What was Black Fish's biggest round?

Black Fish's largest round on record is $145M (Undisclosed round), in Jan 2018.

### Who backed Black Fish first?

Black Fish's first round on record, in Jan 2018, was backed by Lightspeed Venture Partners, Morningside Group and JAFCO and 3 others.

### What stage is Black Fish at?

Black Fish's latest named round is a Series A, in Aug 2018.

### Where is Black Fish based?

Black Fish is based in China.

## Companies like Black Fish

In the same sector, and raised in the last eighteen months.

[**ByteDance** $33B · Sept 2026](https://millionrounds.com/company/bytedance)[**Kalshi** $2.7B · Oct 2026](https://millionrounds.com/company/kalshi)[**xPay** $1.5M · Oct 2026](https://millionrounds.com/company/xpay)[**Ghanem** $1.5M · Oct 2026](https://millionrounds.com/company/ghanem)[**Cashin** $404K · Oct 2026](https://millionrounds.com/company/cashin)[**Cashbanx** $4.1M · Oct 2026](https://millionrounds.com/company/cashbanx)

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