# Growth investors in China (2026 list)

> 30 growth investors in China, 87% active in the last 12 months. Led by Tengxun Touzi, Alibaba Group, Baidu. Ranked by what they funded.

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

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

# Growth investors in China

Updated 7 November 2026

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

[See all 30 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fgrowth-investors-in-china)The top 25

**30** investors on the list *-3* this week

**100** cheques in 12 months *+59%* against the market

**$281M** median round they joined *+3410%* against the market median

**87%** wrote a cheque in 12 months

**63%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (22)

- 1 [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) *Deploying now* VC firm · China **553** **$50M** median round **Nov 2026** last seen
- 2 [Alibaba Group](https://millionrounds.com/fund/alibaba-group) *Deploying now* Corporate VC · China **113** **$35M** median round **Sept 2026** last seen
- 3 [Baidu](https://millionrounds.com/fund/baidu) *Deploying now* Investment firm · China **72** **$36M** median round **Nov 2026** last seen
- 4 [Boyu Capital](https://millionrounds.com/fund/boyu-capital) *Deploying now* Private equity · Hong Kong SAR China **20** **$260M** median round **Oct 2026** last seen
- 5 [Didi Chuxing](https://millionrounds.com/fund/didi-chuxing) *Deploying now* Growth equity · China **7** **$281M** median round **Sept 2026** last seen
- 6 [Vertex Growth Fund](https://millionrounds.com/fund/vertex-growth-fund) *Deploying now* VC firm · Singapore **7** **$49M** median round **Oct 2026** last seen
- 7 [Meituan](https://millionrounds.com/fund/meituan) *Deploying now* Corporate VC · China **6** **$150M** median round **Oct 2026** last seen
- 8 [CPE](https://millionrounds.com/fund/cpe-2) *Deploying now* Growth equity · China **5** **$2B** median round **Oct 2026** last seen
- 9 [Alibaba Cloud](https://millionrounds.com/fund/alibaba-cloud) *Deploying now* Corporate VC · China **4** **$197M** median round **Jul 2026** last seen
- 10 [CITIC Securities](https://millionrounds.com/fund/citic-securities) *Deploying now* Investment bank · China **4** **$3B** median round **Oct 2026** last seen
- 11 [Lighthouse Capital](https://millionrounds.com/fund/lighthouse-capital) *Deploying now* Growth equity · Kenya **4** **$9.1M** median round **Jul 2026** last seen
- 12 [China's National Artificial Intelligence Industry Investment Fund](https://millionrounds.com/fund/china-s-national-artificial-intelligence-industry-investment) *Deploying now* Growth equity **3** **$7.4B** median round **Oct 2026** last seen
- 13 [GAC Capital](https://millionrounds.com/fund/gac-capital) *Deploying now* Private equity · China **3** **$207M** median round **Oct 2026** last seen
- 14 [Guofang Venture Capital](https://millionrounds.com/fund/guofang-venture-capital) *Deploying now* VC firm **3** **$200M** median round **Nov 2026** last seen
- 15 [Beijing Artificial Intelligence Industry Investment Fund](https://millionrounds.com/fund/beijing-artificial-intelligence-industry-investment-fund) *Deploying now* Growth equity **2** **$281M** median round **Oct 2026** last seen
- 16 [CAS Investment Management](https://millionrounds.com/fund/cas-investment-management) *Deploying now* Private equity · China **1** **$3B** median round **Jul 2026** last seen
- 17 [GAC Group](https://millionrounds.com/fund/gac-group) quiet Corporate VC · United Arab Emirates **1** **$281M** median round **Oct 2025** last seen
- 18 [Huace Film & TV](https://millionrounds.com/fund/huace-film-and-tv) *Deploying now* Growth equity · China **1** **$3B** median round **Jul 2026** last seen
- 19 [Alibaba's AEF NextGen Hong Kong fund](https://millionrounds.com/fund/alibaba-s-aef-nextgen-hong-kong-fund) *Deploying now* Growth equity **1** **$400M** median round **Oct 2026** last seen
- 20 [Beijing Information Industry Development Fund](https://millionrounds.com/fund/beijing-information-industry-development-fund) quiet Growth equity **1** **$281M** median round **Oct 2025** last seen
- 21 [BlueFive](https://millionrounds.com/fund/bluefive) *Deploying now* Growth equity **1** **$3B** median round **Jul 2026** last seen
- 22 [China National AI Industry Investment Fund](https://millionrounds.com/fund/china-national-ai-industry-investment-fund) *Deploying now* Growth equity **1** **$400M** median round **Oct 2026** last seen
- 23 [Guangzhou Guanghua Fund](https://millionrounds.com/fund/guangzhou-guanghua-fund) quiet Growth equity **1** **$281M** median round **Oct 2025** last seen
- 24 [Ji'an Investment](https://millionrounds.com/fund/ji-an-investment) *Deploying now* Growth equity **1** **$700M** median round **Jan 2026** last seen
- 25 [Meituan Longzhu](https://millionrounds.com/fund/meituan-longzhu) *Deploying now* Growth equity **1** **$150M** median round **Oct 2026** last seen

**5 more on this list**

All 30 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%2Fgrowth-investors-in-china)

## The Newest Cheques

Rounds this list's investors joined most recently

- **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 *With* [Guofang Venture Capital](https://millionrounds.com/fund/guofang-venture-capital)
- **2** Nov **[GenRobot AI](https://millionrounds.com/company/genrobot-ai)** Series A · $100M *With* [Baidu](https://millionrounds.com/fund/baidu)
- **28** Oct **[BioGeometry](https://millionrounds.com/company/biogeometry)** Series A · $100M *With* [Guofang Venture Capital](https://millionrounds.com/fund/guofang-venture-capital)
- **22** Oct **[Huixi Technology](https://millionrounds.com/company/huixi-technology)** Series B *Led by* [Beijing Artificial Intelligence Industry Investment Fund](https://millionrounds.com/fund/beijing-artificial-intelligence-industry-investment-fund)
- **20** Oct **[Flow Games](https://millionrounds.com/company/flow-games)** $49M *With* [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi)

## Stages This Year

67 rounds

- Venture **22%**
- Other **19%**
- Series B **12%**
- Series C **10%**
- Series A **9%**
- Other **27%**

## What They Backed

Sectors, last 12 months

- AI **38**
- Robotics **9**
- Fintech **8**
- Biotech **6**
- Healthcare **5**
- Generative AI **5**

## Cheques by Quarter

Led Joined

9 Q1 25

20 Q2 25

14 Q3 25

27 Q4 25

25 Q1 26

11 Q2 26

28 Q3 26

26 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 Series B and scaling

- Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies Reid Hoffman · 2018 3.95 from 7,118 ratings on Goodreads Scaling and operations Leading and managing Moats and competition About the book Foreword by Bill Gates LinkedIn cofounder, legendary investor, and host of the award-winning Masters of Scale podcast reveals the secret to starting and scaling massively valuable companies. What entrepreneur or founder doesn’t aspire to build the next Amazon, Facebook, or… On AmazonListen on Audible
- One Page Talent Management: Eliminating Complexity, Adding Value Marc Effron · 2010 4.00 from 311 ratings on Goodreads Leading and managing Hiring and culture Scaling and operations About the book A Revolutionary Approach to Talent Management You know that winning in today’s marketplace requires top quality talent. You also know what it takes to build that talent, and you spend significant financial and human resources to make it happen. Yet somehow, your company’s… On AmazonListen on Audible
- The Culture Code: The Secrets of Highly Successful Groups Daniel Coyle · 2017 4.24 from 37,412 ratings on Goodreads Hiring and culture Leading and managing About the book What do Pixar, Google and the San Antonio Spurs basketball team have in common?The answer is that they all owe their extraordinary success to their team-building skills. In The Culture Code, Daniel Coyle goes inside some of the most effective organisations in the world and… On AmazonListen on Audible
- Scaling Up: How a Few Companies Make It...and Why the Rest Don't Verne Harnish · 2014 4.16 from 6,229 ratings on Goodreads Scaling and operations Leading and managing About the book Winner of the 2015 International Book Awards for General Business Winner of the 2015 National Indie Excellence Award for General Business Winner of the 2015 Readers' Favorite International Book Award Gold Medal for Non-Fiction Business Winner of the 2015 Paris Book… On AmazonListen on Audible

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

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about growth investors in China

### Who are the most active growth investors in China?

By cheques observed, the most active are Tengxun Touzi, Alibaba Group, Baidu, Boyu Capital and Didi Chuxing.

### How many growth investors in China are there?

30 are on record. 87% made an investment in the last 12 months and 63% have led a round.

### Which stages do growth investors in China back?

Of the rounds with a named stage in the last 12 months, mostly Series B (22%) and Series C (19%).

### How big are the rounds growth investors in China join?

The typical (median) round among the leading investors here is $281M.

### Which sectors do growth investors in China back most?

In the last 12 months, mostly AI, Robotics and Fintech.

### Which growth investors in China lead the most rounds?

Tengxun Touzi (20 led), Baidu (4 led) and Boyu Capital (3 led).

### Where are growth investors in China based?

Among the most active, most are based in China (11), Hong Kong SAR China (1) and Singapore (1).

### What have growth investors in China invested in recently?

Recent rounds include T-Therapeutics (Series B, Nov 2026, with Tengxun Touzi), Sand.ai (Series A, Nov 2026, with Guofang Venture Capital) and GenRobot AI (Series A, Nov 2026, with Baidu).

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