# VAST funding: rounds and investors > VAST has raised $946M across 3 rounds since 2025. Investors include Matrix Partners, Balerion Space Ventures and Beijing AI Industry Investment Fund. Source: https://millionrounds.com/company/vast (Millionrounds; every figure on the page links to its filing or article) China · [Series B startup](https://millionrounds.com/companies) # Who invested in *VAST* 3 rounds we have observed, with the 22 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. Advanced Manufacturing Aerospace & Space AI Generative AI Raised 2 months ago Follow VAST and see its new rounds in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Fcompany%2Fvast) Funding summary Updated 5 Nov 2026 **$946M** raised across 3 rounds since 2025, from 5 sources **$500M** Series A **$446M** Series B - **Latest round:** Series B, $446M Sept 2026 - **Led by:** Matrix Partners - **Biggest round:** $500M Series A · Mar 2026 - **Investors:** 22 (3 led) 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. 2026 **?** Pre-seed **$500M** Series A **$446M** Series B - **First round:** Pre-seed - **Biggest round:** $500M - **Usual gap between rounds:** 8 months ## The rounds - **Sept 2026** Series B **$446M** *9 new* [Matrix Partners](https://millionrounds.com/fund/matrix-partners-china) Lead [CMC Capital Group](https://millionrounds.com/fund/cmc-capital-partners) [Perfect World](https://millionrounds.com/fund/perfect-world) [Primavera Capital Group](https://millionrounds.com/fund/primavera-capital-group) [Thundersoft](https://millionrounds.com/fund/thundersoft) [37 Interactive Entertainment](https://millionrounds.com/fund/37-interactive-entertainment) [Blue Focus PR Consulting](https://millionrounds.com/fund/bluefocus) [CICC Capital](https://millionrounds.com/fund/cicc-capital) [CDH VGC](https://millionrounds.com/fund/cdh-vgc) Reported by TechStartups and 1 other - **Mar 2026** Series A **$500M** *8 new* [Balerion Space Ventures](https://millionrounds.com/fund/balerion-space-ventures) Lead [Pantera Capital](https://millionrounds.com/fund/pantera-capital) [Mitsui & Co](https://millionrounds.com/fund/mitsui-and-co) [Qatar Ban](https://millionrounds.com/fund/qatar-ban) [Sakana AI](https://millionrounds.com/fund/mufg) [Nikon](https://millionrounds.com/fund/nikon) [Space Capital](https://millionrounds.com/fund/space-capital) [Stellar Ventures](https://millionrounds.com/fund/stellar-ventures) Reported by Ventureburn and 1 other - **Jul 2025** Pre-seed **Amount undisclosed** *5 new* [Beijing AI Industry Investment Fund](https://millionrounds.com/fund/beijing-ai-industry-investment-fund) Lead [Fortune Capital](https://millionrounds.com/fund/fortune-capital-2) [Eminence](https://millionrounds.com/fund/eminence) [Oasis Capital](https://millionrounds.com/fund/oasis-capital-4) [Tsinghua Alumni Seed Fund](https://millionrounds.com/fund/tsinghua-alumni-seed-fund) Reported by Firms' own news pages ## 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. **Pre-seed** 2025 **Series A** 2026 **Series B** 2026 [Matrix Partners](https://millionrounds.com/fund/matrix-partners-china) L [Balerion Space Ventures](https://millionrounds.com/fund/balerion-space-ventures) L [Beijing AI Industry Investment Fund](https://millionrounds.com/fund/beijing-ai-industry-investment-fund) L [Pantera Capital](https://millionrounds.com/fund/pantera-capital) [Mitsui & Co](https://millionrounds.com/fund/mitsui-and-co) [Qatar Ban](https://millionrounds.com/fund/qatar-ban) [CMC Capital Group](https://millionrounds.com/fund/cmc-capital-partners) [Sakana AI](https://millionrounds.com/fund/mufg) [Perfect World](https://millionrounds.com/fund/perfect-world) [Primavera Capital Group](https://millionrounds.com/fund/primavera-capital-group) ## Everyone who backed them [Matrix Partners](https://millionrounds.com/fund/matrix-partners-china) VC firm **1** round, led 1 [Balerion Space Ventures](https://millionrounds.com/fund/balerion-space-ventures) VC firm **1** round, led 1 [Beijing AI Industry Investment Fund](https://millionrounds.com/fund/beijing-ai-industry-investment-fund) VC firm **1** round, led 1 [Pantera Capital](https://millionrounds.com/fund/pantera-capital) VC firm **1** round [Mitsui & Co](https://millionrounds.com/fund/mitsui-and-co) Corporate VC **1** round [Qatar Ban](https://millionrounds.com/fund/qatar-ban) Growth equity **1** round [CMC Capital Group](https://millionrounds.com/fund/cmc-capital-partners) Corporate VC **1** round [Sakana AI](https://millionrounds.com/fund/mufg) Growth equity **1** round [Perfect World](https://millionrounds.com/fund/perfect-world) Corporate VC **1** round [Primavera Capital Group](https://millionrounds.com/fund/primavera-capital-group) Private equity **1** round [Thundersoft](https://millionrounds.com/fund/thundersoft) VC firm **1** round [37 Interactive Entertainment](https://millionrounds.com/fund/37-interactive-entertainment) Corporate VC **1** round [Fortune Capital](https://millionrounds.com/fund/fortune-capital-2) Wealth manager **1** round [Blue Focus PR Consulting](https://millionrounds.com/fund/bluefocus) VC firm **1** round [CICC Capital](https://millionrounds.com/fund/cicc-capital) Investment firm **1** round [Nikon](https://millionrounds.com/fund/nikon) Investment firm **1** round [CDH VGC](https://millionrounds.com/fund/cdh-vgc) Growth equity **1** round [Eminence](https://millionrounds.com/fund/eminence) VC firm **1** round [Oasis Capital](https://millionrounds.com/fund/oasis-capital-4) Private equity **1** round [Space Capital](https://millionrounds.com/fund/space-capital) VC firm **1** round [Stellar Ventures](https://millionrounds.com/fund/stellar-ventures) VC firm **1** round [Tsinghua Alumni Seed Fund](https://millionrounds.com/fund/tsinghua-alumni-seed-fund) VC firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=vast). ## Quick answers about VAST ### Who invested in VAST? VAST's investors include Matrix Partners, Balerion Space Ventures, Beijing AI Industry Investment Fund, Pantera Capital and Mitsui & Co, and 17 more on record. Matrix Partners led its latest round. ### How much has VAST raised? VAST has raised $946M across 3 rounds since 2025. One round did not disclose an amount, so the total is a floor. ### When did VAST last raise? VAST's most recent round was a Series B of $446M in Sept 2026, led by Matrix Partners. ### What was VAST's biggest round? VAST's largest round on record is $500M (Series A), in Mar 2026, led by Balerion Space Ventures. ### Who backed VAST first? VAST's first round on record, in Jul 2025, was backed by Beijing AI Industry Investment Fund, Fortune Capital and Eminence and 2 others. ### What stage is VAST at? VAST's latest named round is a Series B, in Sept 2026. ### Where is VAST based? VAST is based in China. ### Who led VAST's rounds? Beijing AI Industry Investment Fund led the Pre-seed in 2025; Balerion Space Ventures led the Series A in 2026; Matrix Partners led the Series B in 2026. ## Companies like VAST In the same sector, and raised in the last eighteen months. [**Moffett AI** $150M · Nov 2026](https://millionrounds.com/company/moffett-ai)[**Nanochap** $119M · Nov 2026](https://millionrounds.com/company/nanochap)[**GenRobot AI** $100M · Nov 2026](https://millionrounds.com/company/genrobot-ai)[**01.AI** Oct 2026](https://millionrounds.com/company/01-ai)[**Approaching.AI** $193M · Oct 2026](https://millionrounds.com/company/approaching-ai)[**BioGeometry** $100M · Oct 2026](https://millionrounds.com/company/biogeometry) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app