Fundraising Fox
Joy Capital
Venture capitalBeijing · Seed–Growth · 6 people tracked
Find your way into Joy Capital
1,615 people in our graph share verified history with the Joy Capital team — schools, employers, funds. One of them is your warm intro.
Investment thesis
Joy Capital backs startups at both early and growth stages, concentrating on TMT (technology, media, telecom) and innovative consumption. Guided by the motto 'Do Hard Things with JOY', the firm partners closely with entrepreneurs to help them make sound decisions at critical moments in a company's development. Its founding partners have invested in more than 80 startups, over ten of which have become unicorns, spanning internet, consumer, enterprise services, high-tech and technology-enabled businesses across China and the U.S.
Source: firm website, verified Sep 22, 2026.
Team · 6 people
from the firm's website & curated & public directories
What they invest in
from 13 of 21 portfolio companiesAI & Machine Learning ×7Hardware ×5Consumer ×4Robotics ×4FoodTech ×3IoT ×3Mobility & Transportation ×3Climate Tech ×2
HQs:China×8Canada×1United States×1
Investments · 21 tracked
founders shown can be your intro pathBy year:2024 · 12023 · 12022 · 12021 · 12020 · 32019 · 12018 · 19 dated
Aqara provides smart home and IoT solutions with over 1,000 connected devices and platforms that integrate spatial intelligence, advanced sensors, and AI to enable spaces to adapt to occupants' needs.
AI & Machine LearningConsumerHardwareIoTPropTech
Co-investorsCathay Innovation
Dao Foods is an investment and advocacy firm that funds and mentors plant-based and alternative protein companies focused on or serving the Chinese market.
AgTechClimate TechFoodTechImpact & Social Good
Tao Zhang(Co-Founder)inAlbert Tseng(Co-Founder)in
Co-investorsUnovis Asset ManagementBluestein VenturesBuilders VCCongruent VenturesMatrix Partners ChinaNàdarra Ventures+4 more
HAIVIVI designs and manufactures smart toy products using technology to create companion experiences for children during their growth and development journey.
AI & Machine LearningConsumerEdTechGamingHardwareIoT
Co-investorsWestSummit Capital
Healthy.io transforms smartphone cameras into clinical-grade medical devices to enable remote health testing and monitoring.
AI & Machine LearningDigital HealthHealthtechMedical Devices
Yonatan Adiri(Founder)in
Co-investorsKli CapitalLevante CapitalSamsung NextAlephIPV
Momenta develops autonomous driving technology focused on improving road safety by reducing traffic accidents caused by speeding and collision risks.
AI & Machine LearningHardwareMobility & TransportationRoboticsBeijing, CN
Co-investorsZhenFund
Newlink is a digital energy platform that operates charging stations, gas stations, and battery storage networks, and provides quality certification and carbon reduction services for the energy sector.
B2B MarketplacesData & InfrastructureEnergyLogistics & Supply ChainMobility & TransportationSaaSBeijing, CN
戴震(Founder & CEO)王阳(Co-founder & President, Newlink Zhidian Founder & CEO)
Co-investorsBain CapitalChina Merchants CapitalNIO CapitalHongtai Capital Holdings
Seyond develops image-grade LiDAR sensors and perception software for applications such as automotive, mobility, and traffic-intersection monitoring.
AI & Machine LearningDeep TechHardwareIoTMobility & TransportationRoboticsSunnyvale, US
Bao Junwei(Chairman of the Board, Executive Director, Co-Founder, and Chief Executive Officer)inLi Yimin(Executive Director, Co-Founder, and Chief Technology Officer)in
Co-investorsCenturium CapitalCyberport Hong KongF-Prime CapitalNIO CapitalBAI capitalEight Roads Ventures+1 more
UniUni provides technology-driven last-mile parcel delivery services for e-commerce companies of all sizes, operating through a network of independent contractor drivers and package handlers.
E-commerceLogistics & Supply ChainVancouver, CA
Peter Lu(Founder)inKevin Wang(Founder)in
Co-investorsBessemer Venture PartnersCeltic House Asia PartnersCeltic House Venture PartnersDCM VenturesHat-Trick CapitalLanchi Ventures+5 more
A food company that sells grilled and fried meat skewers, seafood, and specialty items like tofu and sausages, likely a casual dining or food service brand operating in China.
ConsumerFoodTechXiamen, CN
Luckin Coffee operates a technology-driven coffee and food & beverage retail chain that delivers high-quality products at affordable prices with convenient access.
ConsumerDirect to ConsumerFoodTechRetail TechUnknown from page, CN
Leading O2O auto maintenance chain service provider; Hong Kong listed September 2023.
Xiaodong Hu(Founder)in
Co-investorsB Capital GroupB4 CapitalCathay InnovationHundreds CapitalNIO CapitalQiming Venture Partners+1 more
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Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
blueglassLegend EnergyLuckin CoffeeYuan Planet优信美狮蔚来
Portfolio news
latest coverage across their companiesFund performance · per public LP disclosures · 4
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Joy Capital III, L.P.LPs: Los Angeles County Employees Retirement Association | 2019 | — | 7.4% | 1.38x | 0.00x |
| Joy Capital Opportunity, LPLPs: Los Angeles County Employees Retirement Association | 2019 | — | 4.5% | 1.28x | 0.00x |
| Joy Capital II, L.P.LPs: Los Angeles County Employees Retirement Association | 2017 | — | 5.3% | 1.42x | 0.00x |
| Joy Capital ILPs: Los Angeles County Employees Retirement Association | 2015 | — | 27.9% | 2.33x | 1.71x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has Joy Capital made?
- Joy Capital has 21 tracked investments.
- What stage does Joy Capital invest at?
- Joy Capital invests at the Seed, Series A, Series B, Series C, Growth stages.
- What sectors does Joy Capital focus on?
- Joy Capital focuses on AI & Machine Learning, Consumer, Data & Infrastructure, Deep Tech, Enterprise Software, Fintech, FoodTech, Media & Entertainment, Medical Devices, Mobility & Transportation, PropTech, Retail Tech, SaaS.
- Where is Joy Capital located?
- Joy Capital is headquartered in Beijing, CN.
- Who does Joy Capital co-invest with?
- Joy Capital most often shares deals with Cathay Innovation, B Capital Group, B4 Capital, among 7 tracked co-investors.
Co-investors · 3
DCM Ventures is an early-stage venture capital firm that leads rounds and partners with a small number of companies each year, backing innovative founders with a global, cross-border team.
Granite Asia is an Asia-focused investment firm; this page is a republished Business Times news article featuring senior managing partner Jenny Lee discussing AI's impact on startup formation and investing trends in Asia.
IDG Capital is a multi-strategy investment platform founded in 1993 that supports entrepreneurs across the full business lifecycle, bridging East and West with a global presence and over 300 professionals.
Firms observed investing alongside Joy Capital, from public investor directories. Shared companies are the overlap with Joy Capital's recorded portfolio.
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