# Miniso funding: rounds and investors

> Miniso has raised $696M across 2 rounds since 2018. Investors include Tengxun Touzi and Hill House Capital. Every round with its source.

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

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

# Who invested in *Miniso*

2 rounds we have observed, with the 2 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.

Consumer Services Fashion

Funding summary Updated 26 Oct 2026

**$696M** raised across 2 rounds since 2018, from 2 sources

**$146M** Round **$550M** Debt

- **Latest round:** Debt, $550M Jan 2025
- **Step-up i:** 3.8×
- **Investors:** 2

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.

2019 2020 2021 2022 2023 2024 2025

**$146M** Round

**$550M** Debt

- **First round:** Round, $146M
- **Biggest round:** $550M
- **Between rounds:** 6.3 years

## The rounds

- **Jan 2025** Debt **$550M** *2 returning* [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) [Hill House Capital](https://millionrounds.com/fund/hill-house-capital) Source recorded
- **Oct 2018** Round **$146M** *2 new* [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) [Hill House Capital](https://millionrounds.com/fund/hill-house-capital) Reported by FinSMEs

## 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 **Debt** 2025 [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) [Hill House Capital](https://millionrounds.com/fund/hill-house-capital)

## Everyone who backed them

[Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) VC firm **2** rounds

[Hill House Capital](https://millionrounds.com/fund/hill-house-capital) Family office **2** rounds

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

## Quick answers about Miniso

### Who invested in Miniso?

Miniso's investors include Tengxun Touzi and Hill House Capital.

### How much has Miniso raised?

Miniso has raised $696M across 2 rounds since 2018.

### When did Miniso last raise?

Miniso's most recent round was a Debt of $550M in Jan 2025.

### What was Miniso's biggest round?

Its most recent round, $550M in Jan 2025, is also its largest on record.

### Who backed Miniso first?

Miniso's first round on record, in Oct 2018, was backed by Tengxun Touzi and Hill House Capital.

### What stage is Miniso at?

Miniso's latest named round is a Debt, in Jan 2025.

### Where is Miniso based?

Miniso is based in China.

## Companies like Miniso

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

[**ZeroW** $417K · Oct 2026](https://millionrounds.com/company/zerow)[**Rosie** $7.0M · Oct 2026](https://millionrounds.com/company/rosie)[**The Pant Project** $11M · Oct 2026](https://millionrounds.com/company/the-pant-project)[**Chariot Claims** $23M · Oct 2026](https://millionrounds.com/company/chariot-claims)[**Stride** $16M · Oct 2026](https://millionrounds.com/company/stride)[**Whizzo** $37M · Oct 2026](https://millionrounds.com/company/whizzo)

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