# Tengxun Touzi: portfolio, investments and team

> Tengxun Touzi is a vc firm based in China. 552 investments on record, 46 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/tengxun-touzi (Millionrounds; every figure on the page links to its filing or article)

China · [Investor](https://millionrounds.com/investors)

# Tengxun Touzi

Last cheque observed Oct 2026; 552 cheques on record.

Deploying now VC firm

Seed Series A Series B Automotive Product Management Advertising

Deploying now

**90%** of best year **46** **cheques in 12 months**, 552 on record

Since the last cheque **4** days **00** hrs **00** min **00** sec

Median round **$50M** Rounds led **20 of 552** Sole investor **132 rounds** Exits **8 from the portfolio** Mostly in **China, 31%**

Pitch Tengxun Touzi

## Tengxun Touzi highlights

- 01 46 cheques in the last 12 months
- 02 Mostly Venture and Series A: 54% of its rounds
- 03 Sole investor in 132 rounds, median $9.2M
- 04 8 exits from the portfolio

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Automotive Product Management Advertising
- **Based in:** Shenzhen, China
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **552 appearances**

- **2026** 36 rounds
- **Oct** **[DeepSeek](https://millionrounds.com/company/deepseek)** CN · Google News search **$1.5B** With 5 others
- **Oct** **[Flow Games](https://millionrounds.com/company/flow-games)** TR · Google News search **$49M** With 3 others
- **Oct** **[Infinigence AI](https://millionrounds.com/company/infinigence-ai)** Series C · CN · TechNode **$344M** With 5 others
- **Oct** **[Manus / Butterfly Effect](https://millionrounds.com/company/manus-butterfly-effect)** Growth · SG · Firms' own news pages **$500M** With 5 others
- **Oct** **[DeepSeek](https://millionrounds.com/company/deepseek)** CN · Google News search **$15B** With 18 others
- **Sept** **[Microbiotica](https://millionrounds.com/company/microbiotica)** Series C · GB · Cambridge Innovation Capital **$35M** With 5 others
- **Sept** **[Circle Games](https://millionrounds.com/company/circle-games)** Series A · TR **$25M** With 2 others
- **Aug** **[XPeng's robotics unit](https://millionrounds.com/company/xpeng-s-robotics-unit)** CN · TechNode **$900M** With 3 others
- **Aug** **[Xpeng Robotics](https://millionrounds.com/company/xpeng-robotics)** CN · TechStartups **$900M** With 5 others
- **Aug** **[Lovable](https://millionrounds.com/company/lovable)** Series C · SE · Menlo Ventures **$400M** With 17 others
- **Jul** **[Even Realities](https://millionrounds.com/company/even-realities)** Series B · CN · TechCrunch **$150M** *Led*
- **Jul** **[Kling AI](https://millionrounds.com/company/kling-ai)** Growth · CN · TechNode **$3.0B** With 10 others
- **Jul** **[IQM Quantum Computers](https://millionrounds.com/company/iqm-quantum-computers)** FI **$146M** With 5 others
- **Jul** **[MiniMax](https://millionrounds.com/company/minimax)** SG **$1.2B** With 3 others
- **Jul** **[Satispay](https://millionrounds.com/company/satispay)** Debt · IT **$34M** With 4 others
- **Jul** **[Hadean](https://millionrounds.com/company/hadean)** Grant · GB **$114K** With 3 others
- **Jun** **[MainFunc (GenSpark)](https://millionrounds.com/company/mainfunc-genspark)** Series B · US **$100M** With 4 others
- **Jun** **[ZAAN](https://millionrounds.com/company/zaan)** Seed · CH **$5.0M** Sole investor
- **Jun** **[Leko Labs](https://millionrounds.com/company/leko-labs)** Venture · LU **Undisclosed** Sole investor
- **May** **[Primer](https://millionrounds.com/company/primer)** Series C · GB · Ventureburn **$100M** With 7 others
- **May** **[DeepSeek](https://millionrounds.com/company/deepseek)** CN · TechNode **$7.4B** *Led*
- **Apr** **[First Light Fusion](https://millionrounds.com/company/first-light-fusion)** Venture · GB **$25M** With 4 others
- **Mar** **[Upvest](https://millionrounds.com/company/upvest)** Growth · DE · TechStartups **$125M** *Led*
- **Mar** **[Ualá](https://millionrounds.com/company/uala)** Growth · AR · A.M.E. Ventures **$195M** With 14 others
- **Mar** **[Uzum](https://millionrounds.com/company/uzum)** Growth · UZ · TechCrunch **$132M** With 4 others
- **Mar** **[Oxa](https://millionrounds.com/company/oxa)** Series D · GB · Ventureburn **$103M** With 8 others
- **Mar** **[Zhijian Power](https://millionrounds.com/company/zhijian-power)** Venture **Undisclosed** With 4 others
- **Mar** **[Stairway Medical](https://millionrounds.com/company/stairway-medical)** Venture **$73M** With 4 others
- **Feb** **[SINOITS](https://millionrounds.com/company/sinoits)** Venture **Undisclosed** With 2 others
- **Feb** **[Insighta](https://millionrounds.com/company/insighta)** Secondary · US **$70M** Sole investor
- **Feb** **[TrueLayer](https://millionrounds.com/company/truelayer)** Venture · GB **Undisclosed** With 4 others
- **Jan** **[StepFun](https://millionrounds.com/company/stepfun)** Series B · CN · TechNode **$718M** With 9 others
- **Jan** **[Moonshot AI](https://millionrounds.com/company/moonshot-ai)** Growth · CN · TechNode **$700M** *Led*
- **Jan** **[bit.bio](https://millionrounds.com/company/bit-bio)** Series C **$50M** With 5 others
- **Jan** **[Lunar](https://millionrounds.com/company/lunar)** Venture · US **$55M** With 1 other
- **Jan** **[Satellogic](https://millionrounds.com/company/satellogic)** UY **$35M** With 3 others
- **2025** 44 rounds
- **Dec** **[Moonshot AI](https://millionrounds.com/company/moonshot-ai)** Series C · CN · TechNode **$500M** With 3 others
- **Dec** **[Drama Studios](https://millionrounds.com/company/drama-studios)** Venture · FR **Undisclosed** Sole investor
- **Dec** **[Scalapay](https://millionrounds.com/company/scalapay)** Debt · IT **$81M** With 4 others
- **Dec** **[Momenta](https://millionrounds.com/company/momenta)** Venture **Undisclosed** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

We hold **45** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**5+** funds on file numbered funds in its name

## Exits from the portfolio

Companies it backed that were later bought or listed **8 in all**

**[AltspaceVR](https://millionrounds.com/company/altspacevr)** Bought by [Microsoft](https://millionrounds.com/fund/microsoft) **Undisclosed** Oct 2017

**[Fab](https://millionrounds.com/company/fab)** Bought by [PCH International](https://millionrounds.com/fund/pch-international) **$15M** Mar 2015

**[TapZen](https://millionrounds.com/company/tapzen)** Bought by [Kabam](https://millionrounds.com/fund/kabam) **Undisclosed** Jan 2015

**[Loom](https://millionrounds.com/company/loom)** Bought by [Dropbox](https://millionrounds.com/fund/dropbox-ventures) **Undisclosed** Apr 2014

**[Origami Labs](https://millionrounds.com/company/origami-labs)** Bought by eFamily.com **Undisclosed** Nov 2013

**[Origami Labs](https://millionrounds.com/company/origami-labs)** Bought by FamilyLeaf **Undisclosed** Jul 2013

**[Outspark](https://millionrounds.com/company/outspark)** Bought by gamigo **Undisclosed** Feb 2013

**[Riot Games](https://millionrounds.com/company/riot-games)** Bought by Tencent Holdings **$400** Jan 2011

An exit counts when it came after the firm's first round in the company. From historical deal records.

## Companies it bought

Acquisitions by the firm itself

**Zam** **Undisclosed** Mar 2012

## The cheque

Seed Series A Series B

Median round joined **$50M** the round, not its cheque Alone, median **$9.2M**

Led 20 of 552 rounds **4%**

- **Sole investor:** 132 rounds
- **Last cheque:** Oct 2026
- **Exits:** 8 from the portfolio

Rounds by stage said on their site

- Venture *115*
- Series A said *94*
- Series B said *87*
- Series C *57*
- Series D *31*
- Seed said *-*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [IDG Capital](https://millionrounds.com/fund/idg-capital) 35
- [HSG](https://millionrounds.com/fund/hsg) 32
- [Y Combinator](https://millionrounds.com/fund/y-combinator) 28
- [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 24
- [Hill House Capital](https://millionrounds.com/fund/hill-house-capital) 22
- [Gaorong Capital](https://millionrounds.com/fund/gaorong-capital) 17

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## Who they invest alongside

The investors most often in the same rounds as Tengxun Touzi. A count of rooms they were both in, not a relationship either has claimed.

[**IDG Capital** Private equity **35** rounds together](https://millionrounds.com/fund/idg-capital)[**HSG** VC firm **32** rounds together](https://millionrounds.com/fund/hsg)[**Y Combinator** Accelerator **28** rounds together](https://millionrounds.com/fund/y-combinator)[**Sequoia Capital** VC firm **24** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Hill House Capital** Family office **22** rounds together](https://millionrounds.com/fund/hill-house-capital)[**Gaorong Capital** VC firm **17** rounds together](https://millionrounds.com/fund/gaorong-capital)[**Qiming Venture Partners** VC firm **15** rounds together](https://millionrounds.com/fund/qiming-venture-partners)[**Tiger Global Management** VC firm **15** rounds together](https://millionrounds.com/fund/tiger-global-management)[**Alibaba Group** Corporate VC **14** rounds together](https://millionrounds.com/fund/alibaba-group)[**Matrix Partners China** VC firm **13** rounds together](https://millionrounds.com/fund/matrix-partners-china-2)[**ZhenFund** VC firm **13** rounds together](https://millionrounds.com/fund/zhenfund)[**SV Angel** VC firm **12** rounds together](https://millionrounds.com/fund/sv-angel)

## Recently backed

The latest companies Tengxun Touzi put money into.

[**DeepSeek** $1.5B · Oct 2026](https://millionrounds.com/company/deepseek)[**Infinigence AI** $344M · Oct 2026](https://millionrounds.com/company/infinigence-ai)[**Microbiotica** $35M · Sept 2026](https://millionrounds.com/company/microbiotica)[**Circle Games** $25M · Sept 2026](https://millionrounds.com/company/circle-games)[**Lovable** $400M · Aug 2026](https://millionrounds.com/company/lovable)[**Even Realities** $150M · Jul 2026](https://millionrounds.com/company/even-realities)

## Quick answers about Tengxun Touzi

### What does Tengxun Touzi invest in?

Tengxun Touzi invests most often at Venture and Series A (54% of the rounds on record), in sectors such as Automotive, Product Management and Advertising.

### How active is Tengxun Touzi?

552 investments on record, 46 of them in the last 12 months, and it led 20. The most recent was in Oct 2026.

### What has Tengxun Touzi invested in recently?

Its most recent investments on record: DeepSeek (Undisclosed round, Oct 2026), Flow Games (Oct 2026) and Infinigence AI (Series C, Oct 2026).

### How big are Tengxun Touzi's cheques?

The median round it joins is $50M.

### Does Tengxun Touzi lead rounds?

Sometimes: it led 20 of its 552 investments on record (4%).

### Where does Tengxun Touzi invest?

Most of the companies it backs are in China (31%), the United Kingdom (17%) and the United States (9%).

### Is Tengxun Touzi investing now?

Yes: it is actively investing, with 46 investments in the last 12 months.

### Who does Tengxun Touzi invest alongside?

Most often IDG Capital (35 rounds together), HSG (32 rounds together) and Y Combinator (28 rounds together).

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