# Early stage investors in China (2026 list)

> 166 early stage investors in China, 91% active in the last 12 months. Led by Sequoia Capital, Founders Fund, Benchmark. Ranked by what they funded.

Source: https://millionrounds.com/lists/early-stage-investors-in-china (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# Early stage investors in China

Updated 7 November 2026

Firms we have watched take part in a early stage round raised by a company in China in the last two years, wherever the firm is based.

[See all 166 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fearly-stage-investors-in-china)The top 25

**166** investors on the list *+18* this week

**1,196** cheques in 12 months *+17%* against the market

**$49M** median round they joined *+511%* against the market median

**91%** wrote a cheque in 12 months

**34%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (25)

- 1 [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) *Deploying now* VC firm · United States **2,099** **$35M** median round **Nov 2026** last seen
- 2 [Founders Fund](https://millionrounds.com/fund/founders-fund) *Deploying now* VC firm · United States **1,122** **$15M** median round **Oct 2026** last seen
- 3 [Benchmark](https://millionrounds.com/fund/benchmark) *Deploying now* VC firm · United States **587** **$30M** median round **Oct 2026** last seen
- 4 [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) *Deploying now* VC firm · China **553** **$50M** median round **Nov 2026** last seen
- 5 [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) *Deploying now* VC firm · Hong Kong SAR China **526** **$25M** median round **Oct 2026** last seen
- 6 [IDG Capital](https://millionrounds.com/fund/idg-capital) *Deploying now* Private equity · China **504** **$25M** median round **Oct 2026** last seen
- 7 [HSG](https://millionrounds.com/fund/hsg) *Deploying now* VC firm · Hong Kong SAR China **498** **$31M** median round **Oct 2026** last seen
- 8 [Shenzhen Capital Group Co.](https://millionrounds.com/fund/shenzhen-capital-group) *Deploying now* Government · China **449** **$16M** median round **Oct 2026** last seen
- 9 [Matrix Partners](https://millionrounds.com/fund/matrix-partners) *Deploying now* VC firm · United States **396** **$19M** median round **Aug 2026** last seen
- 10 [ZhenFund](https://millionrounds.com/fund/zhenfund) *Deploying now* VC firm · China **390** **$9.1M** median round **Oct 2026** last seen
- 11 [Matrix Partners China](https://millionrounds.com/fund/matrix-partners-china-2) *Deploying now* VC firm · United States **295** **$16M** median round **Nov 2026** last seen
- 12 [Legend Capital](https://millionrounds.com/fund/legend-capital) *Deploying now* VC firm · China **288** **$26M** median round **Oct 2026** last seen
- 13 [Shunwei Capital](https://millionrounds.com/fund/shunwei-capital) *Deploying now* VC firm · China **288** **$15M** median round **Oct 2026** last seen
- 14 [Saif Partners](https://millionrounds.com/fund/saif-partners) *Deploying now* Private equity · Hong Kong SAR China **283** **$14M** median round **May 2026** last seen
- 15 [Gobi Partners](https://millionrounds.com/fund/gobi-partners) *Deploying now* VC firm · Malaysia **212** **$10M** median round **Oct 2026** last seen
- 16 [CDH Investments](https://millionrounds.com/fund/cdh-investments) *Deploying now* Private equity · Hong Kong SAR China **190** **$30M** median round **Oct 2026** last seen
- 17 [Gaorong Capital](https://millionrounds.com/fund/gaorong-capital) *Deploying now* VC firm · China **184** **$30M** median round **Nov 2026** last seen
- 18 [Fortune Venture Capital](https://millionrounds.com/fund/fortune-capital) *Deploying now* VC firm · United States **147** **$15M** median round **Sept 2026** last seen
- 19 [Vivo Capital](https://millionrounds.com/fund/vivo-capital) *Deploying now* Private equity · United States **140** **$64M** median round **Sept 2026** last seen
- 20 [Innoangel Fund](https://millionrounds.com/fund/innoangel-fund) *Deploying now* VC firm · China **139** **$3M** median round **Aug 2026** last seen
- 21 [5Y Capital](https://millionrounds.com/fund/5y-capital) *Deploying now* VC firm · China **126** **$28M** median round **Oct 2026** last seen
- 22 [CAS Star](https://millionrounds.com/fund/cas-star) *Deploying now* VC firm · China **116** **$14M** median round **Nov 2026** last seen
- 23 [Baidu Ventures](https://millionrounds.com/fund/baidu-ventures) *Deploying now* VC firm · China **107** **$12M** median round **Jul 2026** last seen
- 24 [Oriza Holdings](https://millionrounds.com/fund/oriza-holdings) *Deploying now* VC firm · China **101** **$14M** median round **Oct 2026** last seen
- 25 [Highlight Capital](https://millionrounds.com/fund/highlight-capital) *Deploying now* VC firm · China **78** **$25M** median round **May 2026** last seen

**141 more on this list**

All 166 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000.

[See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fearly-stage-investors-in-china)

## The Newest Cheques

Rounds this list's investors joined most recently

- **6** Nov **[aSand.ai](https://millionrounds.com/company/asand-ai)** Series A · $200M *Led by* [Wangsu Science & Technology](https://millionrounds.com/fund/wangsu-science-and-technology)
- **5** Nov **[T-Therapeutics](https://millionrounds.com/company/t-therapeutics)** Series B · $133M *With* [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi)
- **5** Nov **[Sand.ai](https://millionrounds.com/company/sand-ai)** Series A · $200M *Led by* [Wangsu Science & Technology](https://millionrounds.com/fund/wangsu-science-and-technology)
- **3** Nov **[Nanochap](https://millionrounds.com/company/nanochap)** Series C · $75M *Led by* [Gaorong Capital](https://millionrounds.com/fund/gaorong-capital)
- **3** Nov **[Traversal](https://millionrounds.com/company/traversal)** Series B · $120M *With* [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital)
- **3** Nov **[Trajectory](https://millionrounds.com/company/trajectory)** Series A · $45M *Led by* [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital)

## Stages This Year

858 rounds

- Venture **24%**
- Series A **14%**
- Series B **13%**
- Seed **12%**
- Other **9%**
- Other **28%**

## What They Backed

Sectors, last 12 months

- AI **377**
- Biotech **96**
- Healthcare **57**
- Robotics **56**
- Fintech **48**
- Big Data & Analytics **41**

## Cheques by Quarter

Led Joined

221 Q1 25

242 Q2 25

348 Q3 25

362 Q4 25

445 Q1 26

217 Q2 26

209 Q3 26

156 Q4 26

The last bar is the quarter still running.

## Lists Like This

- [Early stage investors in United States 3,774](https://millionrounds.com/lists/early-stage-investors-in-united-states)
- [Series A investors in United States 2,305](https://millionrounds.com/lists/series-a-investors-in-united-states)
- [Seed investors in United States 2,252](https://millionrounds.com/lists/seed-investors-in-united-states)
- [Series B investors in United States 1,647](https://millionrounds.com/lists/series-b-investors-in-united-states)
- [Growth investors in United States 1,329](https://millionrounds.com/lists/growth-investors-in-united-states)
- [Early stage investors in United Kingdom 1,166](https://millionrounds.com/lists/early-stage-investors-in-united-kingdom)
- [Series C investors in United States 967](https://millionrounds.com/lists/series-c-investors-in-united-states)
- [Pre-seed investors in United States 774](https://millionrounds.com/lists/pre-seed-investors-in-united-states)
- [Seed investors in United Kingdom 692](https://millionrounds.com/lists/seed-investors-in-united-kingdom)

[All investor lists *→*](https://millionrounds.com/lists)

## Reading for founders at seed

- The Elements of User Experience: User-Centered Design for the Web Jesse James Garrett · 2002 4.01 from 4,134 ratings on Goodreads Finding product-market fit Company building About the book Smart organizations recognize that Web design is more than just creating clean code and sharp graphics. A site that really works fulfills your strategic objectives while meeting the needs of your users. Even the best content and the most sophisticated technology won't help you… On AmazonListen on Audible
- Get Backed: Craft Your Story, Build the Perfect Pitch Deck, and Launch the Venture of Your Dreams Evan Baehr · 2015 4.36 from 356 ratings on Goodreads Raising money Company building About the book HOW DO YOU LAUNCH THE VENTURE OF YOUR DREAMS? Get Backed isn’t just about startup fundraising. It’s a handbook for anyone who has an idea and needs to build relationships to get it off the ground. Over the last 3 years, entrepreneurs Evan Loomis and Evan Baehr have… On AmazonListen on Audible
- Selling the Invisible: A Field Guide to Modern Marketing Harry Beckwith · 1997 3.94 from 10,059 ratings on Goodreads Marketing and growth First sales Company building About the book You can't touch, hear, or see your company's most important products... So how do you sell, develop, make them grow? That's the problem with services. This "phenomenal" book, as one reviewer called it, answers that question with insights on how markets work and how prospects… On AmazonListen on Audible
- 80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More Perry Marshall · 2013 4.19 from 1,904 ratings on Goodreads First sales Marketing and growth Company building About the book Stop "Just Getting By"... Master The 80/20 Principle And Make More Money Without More Work. When you know how to walk into any situation and see the 80/20's, you can solve almost ANY marketing problem. 80/20 can demolish any sales and advertising problem. "If you don't know… On AmazonListen on Audible

More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&stage=seed).

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about early stage investors in China

### Who are the most active early stage investors in China?

By cheques observed, the most active are Sequoia Capital, Founders Fund, Benchmark, Tengxun Touzi and Qiming Venture Partners.

### How many early stage investors in China are there?

166 are on record. 91% made an investment in the last 12 months and 34% have led a round.

### Which stages do early stage investors in China back?

Of the rounds with a named stage in the last 12 months, mostly Series A (23%) and Series B (21%).

### How big are the rounds early stage investors in China join?

The typical (median) round among the leading investors here is $19M.

### Which sectors do early stage investors in China back most?

In the last 12 months, mostly AI, Biotech and Healthcare.

### Which early stage investors in China lead the most rounds?

Sequoia Capital (91 led), Founders Fund (42 led) and Tengxun Touzi (20 led).

### Where are early stage investors in China based?

Among the most active, most are based in China (13), the United States (7) and Hong Kong SAR China (4).

### What have early stage investors in China invested in recently?

Recent rounds include aSand.ai (Series A, Nov 2026, with Wangsu Science & Technology), T-Therapeutics (Series B, Nov 2026, with Tengxun Touzi) and Sand.ai (Series A, Nov 2026, with Wangsu Science & Technology).

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)