Morningside Venture Capital Limited
Venture capitalShanghai · Pre-Seed–Growth
Also known as 5Y CAPITAL MANAGEMENT LIMITED
Investment thesis
Entrepreneur-run early-stage investor backing founders with crazy visions that contradict consensus, with a track record of early bets on Chinese tech leaders and expansion into AI infrastructure and biotech.
Source: firm website, verified Aug 25, 2026.
What they invest in
from 35 of 87 portfolio companiesAI & Machine Learning ×14Consumer ×13Hardware ×8Data & Infrastructure ×6E-commerce ×6Media & Entertainment ×6Cloud Computing ×4Deep Tech ×4
HQs:China×20United States×3India×1
Who they back
founder profiles across 13 portfolio companiesFounding team size:solo founder×92 founders×23 founders×2
Investments · 87 tracked
founders shown can be your intro pathATRenew operates a business focused on pre-owned consumer electronic devices, including recycling and redistribution, and runs charitable initiatives such as donating refurbished devices to support education.
Circular EconomyConsumerE-commerce
Suzhou-based mRNA drug developer behind ARCoV/AWcorna, China's first mRNA COVID-19 vaccine to enter clinical trials.
Co-investorsCoatue ManagementQiming Venture PartnersSoftBank Vision Fund
US biotech using AI-driven computational design plus wet-lab validation to discover small-molecule oncology drugs.
BiotechNew York, US
jie fan(Founder)inWei He(Executive Officer)Yimin Qian(Executive Officer)Xiangyan Sun(Executive Officer)Quan Zhou(Director)Long Zhu(Director)
Co-investorsCoatue Management
Agora provides APIs and a real-time engagement platform that enables developers to embed voice, video, interactive streaming, chat, and AI capabilities into their applications.
Cloud ComputingDeveloper ToolsMedia & EntertainmentSaaSSanta Clara, US
Tony Wang(Founder)inPat Frey
Co-investors500 GlobalCoatue Management
ByteDance builds a portfolio of digital platforms and services focused on short-form video, content creation, e-commerce, and workplace collaboration, serving creators and consumers globally.
Creator EconomyE-commerceMedia & EntertainmentBeijing, CN
Yiming Zhang(Founder)inRubo Liang(Founder; Chairman of the Board)inZhang Yiming(Founder)
Co-investors3Comma CapitalAglae VenturesBase PartnersCoatue ManagementEvolution VC PartnersGaldana Ventures+15 more
Trip.com is an international online travel service provider offering hotel and flight bookings across a network of over 1.7 million hotels and 600+ airlines, available in 24 languages and 35 currencies across 39 countries and regions.
ConsumerMarketplacesTravel & Hospitality
James Liang(Founder)inJane Sun(CEO)
Co-investorsBattery Ventures
Haidian, CN
Co-investors137 VenturesA-Rod CorpAlpha Wave GlobalCoatue ManagementGranite AsiaLauder Partners+7 more
Co-investorsGranite Asia
Lekele Tang operates an online education platform offering Chinese K-12 learning products, including a daily practice app (天天练) and study tools such as dictionaries, idiom and riddle references.
ConsumerEdTech
Co-investorsOwl VenturesBlueRun VenturesLightspeed China Partners
Lexi is an AI tool that generates creative and advertising content for marketers and agencies managing clients across different industries.
AdTechAI & Machine LearningMarketing Tech
Co-investorsAlumni VenturesHBS Alumni AngelsInformed Ventures Advisors, LlcVan Wickle Ventures
Moody sells daily disposable colored contact lenses direct to consumers, offering spherical lenses in cosmetic colors such as the GlowyLock Moonstone Blue.
ConsumerDirect to ConsumerE-commerce
Co-investorsGranite AsiaPlum VenturesSource Code Capital
PingCAP develops TiDB, a cloud-native distributed SQL database built for scalability, strong consistency, and high availability.
Cloud ComputingData & InfrastructureDeveloper ToolsEnterprise SoftwareFintech
Ed Huang(Founder)in
Co-investorsChina Growth CapitalCoatue ManagementAccess Technology VenturesGGV CapitalJeneration CapitalYunqi Partners
Bengaluru, IN
Ankush Sachdeva(Founder)in
Co-investorsAlkeon InnovationCapria VenturesElevation CapitalIndia QuotientLightspeed Venture PartnersTrifecta Capital Advisors+1 more
Soul is a Chinese AI-powered immersive social platform where users interact through customizable avatars rather than real identities, matched by interest graphs and AI-driven recommendations.
AI & Machine LearningConsumerSocialShanghai, CN
Zhang Lu(Founder & CEO)Tao Ming(Chief Technology Officer & Executive Director)Zhang Gaozheng(Vice President of Technology & Executive Director)
Co-investorsGranite Asia
UC is a mobile browser and content app offering AI-powered web search, cloud storage with 10GB of free space, personalized news aggregation, and access to a large library of e-books and web novels.
AI & Machine LearningConsumerMedia & Entertainment
Co-investorsNGP CapitalGGV Capital
AiHuiShou (Wanwu Xinsheng) operates a platform for recycling and reselling used electronics and second-hand consumer devices.
Circular EconomyE-commerceMarketplacesShanghai, CN
Co-investorsEnlight Partners
Jaguar Micro is a semiconductor company that designs data processing unit (DPU) chips and related software solutions for cloud computing and data centers.
Cloud ComputingHardwareSemiconductorsShenzhen, CN
Sunny Siu(Co-founder)
Co-investorsQBN Capital
XVERSE Technology develops large language models (including the long-context XVERSE-Long-256K) and 3D content generation and rendering technologies, offering products such as an AI interactive reading app and immersive 3D experiences for uses like virtual house viewing, tourism, and marketing.
AI & Machine LearningDeep TechGamingShenzhen, CN
Forrest Yao(Founder)
Co-investorsCPEHillhouse CapitalNotable CapitalSequoia CapitalTemasek
Phoenix New Media (ifeng.com) is a Chinese-language online news and media portal covering current affairs, finance, technology, automotive, entertainment, sports, culture, and lifestyle.
Media & Entertainment
Co-investorsDraper AssociatesACE & CompanyFortune Venture Capital
Huami develops intelligent healthcare tools and consumer wearables, including smartwatches, bands with 24/7 health monitoring, and smart hearing solutions, aimed at helping individuals track their health data and engage in preventative care.
AI & Machine LearningHardwareHealthtech
Co-investorsShunwei Capital
SenseTime develops artificial intelligence models, including the SenseNova U1 Pro image generation model that uses an interleaved multimodal Chain-of-Thought approach to produce visual assets.
AI & Machine LearningDeep Tech
Co-investorsAlpha Intelligence CapitalBeyond VenturesChina Internet Investment FundGreen Pine Capital Partners
Horizon Robotics develops intelligent driving technology and assisted driving systems for automotive manufacturers globally.
AI & Machine LearningHardwareMobility & TransportationRoboticsSemiconductorsBeijing, CN
HotMaxx (好特卖) operates a chain of discount retail stores in China that sell surplus and near-expiry branded goods—including snacks, beverages, instant foods, household products, and baby items—at deeply reduced prices.
Circular EconomyConsumerRetail Tech
Manu Kumar Jainin
Co-investorsGranite AsiaNGP CapitalQiming Venture PartnersQualcomm Ventures
Pony.ai develops autonomous driving technology and systems for multiple applications including robotaxis, robotrucks, and personally owned vehicles, serving both everyday mobility and commercial logistics markets.
AI & Machine LearningMobility & TransportationRoboticsSilicon Valley, US
James Peng(Founder)inTiancheng Lou(Founder)in
Co-investorsComcast VenturesDCM VenturesLegend CapitalPuhua Capital
XPeng AEROHT develops flying cars, including the Land Aircraft Carrier, a modular flying car, and the A868, a tilt-rotor flying car, along with flying experience programs.
Deep TechHardwareMobility & Transportation
XPeng is a Chinese electric vehicle manufacturer that develops smart EVs alongside adjacent AI robotics and flying-car ventures.
AI & Machine LearningEnergyHardwareMobility & TransportationRobotics
Xiaopeng He(Founder)inHe Xiaopeng(Chairman/CEO)
Co-investorsEast West Ventures EWVShunwei Capital
Co-investorsInvestcorpQiming Venture Partners
Co-investorsDCM VenturesChina Internet Investment Fund
Co-investorsHypothesis
Ctrip is an online travel booking platform offering reservations for hotels (over 1.7 million properties across 200+ countries), flights (nearly 2 million global routes), tour packages, and dining deals, with 24/7 customer support.
ConsumerMarketplacesTravel & Hospitality
Mthreads designs and manufactures full-function GPU chips and accelerated computing products for AI training and inference, 3D graphics rendering, video encoding/decoding, and scientific computing.
AI & Machine LearningData & InfrastructureHardwareSemiconductors
Co-investorsHongtai Capital Holdings
AI-powered medical imaging company.
Co-investorsMarathon Venture PartnersQiming Venture Partners
XtalPi is an AI-driven materials discovery platform that combines computational chemistry, machine learning, and automated wet lab experimentation to accelerate research in pharmaceuticals, new materials, and clean energy.
AI & Machine LearningBiotechDeep TechRoboticsShenzhen, CN
温书豪马健赖力鹏
Co-investorsSoftBank Vision Fund
Co-investorsVertex Ventures China
正保教育集团 (Zhengbao Education Group) provides remote education and online learning services in China, offering courses across multiple subjects including accounting and professional certifications.
EdTechEnterprise Software
朱正东 (Zhu Zhengdong)(Chairman & CEO)
Deepexi (滴普科技) builds enterprise-grade AI infrastructure and platforms for businesses, with attention to security concerns such as agent injection.
AI & Machine LearningData & InfrastructureEnterprise Software
Vast AI Tech manufactures GPU accelerator cards and software platforms for data center, video processing, and edge computing applications.
AI & Machine LearningData & InfrastructureHardwareSemiconductors
Sensors Data provides a data analytics and AI agent platform for enterprise digital operations, offering automated diagnosis, strategy generation, and execution for marketing and customer growth.
AI & Machine LearningData & InfrastructureMarketing TechBeijing, CN
wenfeng sang(Founder)桑文锋(Founder)
Co-investorsXiang He CapitalLinear Capital
Co-investorsDCM Ventures
Lizhi is a web-based audio content platform that provides recording technology services, information storage space services, and internet live streaming for audio creators and listeners in China.
ConsumerCreator EconomyMedia & EntertainmentSocialGuangzhou, CN
Xingyun Group (founded 2015) operates a digital supply chain and cross-border e-commerce services platform that helps Chinese brands and manufacturers reach global markets through localized overseas operations, brand management, fulfillment, compliance, and omnichannel distribution.
B2B MarketplacesE-commerceLogistics & Supply ChainShenzhen, CN
Co-investorsB Capital GroupB4 Capital
Xunlei is a decentralized storage and transmission network provider founded in 2003, offering file download acceleration, cloud storage, browser, and video streaming services to consumers and enterprises globally.
Cloud ComputingConsumerCrypto & Web3Data & InfrastructureSaaSShenzhen, CN
李金波 (Li Jinbo)(Chairman & CEO)张玉波 (Zhang Yubo)(President)
Co-investorsShunwei Capital
Co-investorsLegend Capital
Co-investorsGenBridge Capital
Exits · 1
IPOs and acquisitions across the tracked portfolioATRenew (NYSE: RERE)NYSE: RERE
Portfolio news
latest coverage across their companiesMoody · tipranks.com · Aug 18, 2026
Soul · afr.com · Jul 30, 2026
ByteDance · research.contrary.com · Jun 8, 2026
Lexi · altss.com · Jun 3, 2026
Frequently asked questions
- How many investments has Morningside Venture Capital Limited made?
- Morningside Venture Capital Limited has 86 tracked investments.
- What stage does Morningside Venture Capital Limited invest at?
- Morningside Venture Capital Limited invests at the Pre-Seed, Seed, Series A, Series B, Series C, Growth stages.
- What is Morningside Venture Capital Limited's typical check size?
- Morningside Venture Capital Limited typically writes checks of $5M – $400M.
- What sectors does Morningside Venture Capital Limited focus on?
- Morningside Venture Capital Limited focuses on AI & Machine Learning, Biotech, Consumer, Crypto & Web3, Enterprise Software, Fintech, SaaS.
- Where is Morningside Venture Capital Limited located?
- Morningside Venture Capital Limited is headquartered in Shanghai, CN.
- Does Morningside Venture Capital Limited lead rounds?
- Morningside Venture Capital Limited typically participates in rounds rather than leading them.
- Who does Morningside Venture Capital Limited co-invest with?
- Morningside Venture Capital Limited most often shares deals with Coatue Management, Granite Asia, Qiming Venture Partners, among 55 tracked co-investors.
Images
Co-investors · 14
Granite Asia is a multi-asset investment platform focused on Asia, providing bespoke financing structures and comprehensive investment solutions across multiple asset classes and strategies to support company growth.
Qiming Venture Partners is a Shanghai-based venture capital firm that invests in growth-stage technology, communications, media, and healthcare companies operating in China, with support from its U.S. partner Ignition Partners. The firm's investment approach combines local market knowledge with global resources and executive relationships.
Shunwei Capital is a venture capital firm focused on backing founders in high-tech industries, aiming to help entrepreneurs build world-leading enterprises with capital and operational experience.
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.
Notable Capital is a venture capital firm that has partnered with founders for over two decades, backing companies from the earliest stages through to exit.
Source Code Capital is a Chinese venture capital firm whose team comes from investment management, product/technology, consulting, and media backgrounds.
Sequoia Capital is a venture capital firm that partners with founders to build technology companies.
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.
Greylock Partners is an early-stage venture capital firm that partners with founders building companies from inception. Its partners make only one or two new investments per year to focus deeply on each partnership.
UpHonest Capital is a Silicon Valley-based investment firm founded in 2017 that supports cross-border entrepreneurship and investment between China and the United States, and runs media, scout, and incubation programs.
Goodwater Capital is a consumer technology investment firm backing entrepreneurs building companies across sectors such as housing, healthcare, food delivery, financial services, education, entertainment, and transportation.
Notation Capital writes the very first check for technical founding teams at the moment of company creation, treating pre-seed as a distinct risk profile and working "in the trenches" with founders on "day 0:00" rather than just writing smaller checks. The firm operates with unusual transparency by publishing its internal operating manual on GitHub and running a podcast that interviews LPs to demystify venture fund underwriting, while also running a free, equity-free program for future founders in underestimated ecosystems beyond Silicon Valley.
▶2 more co-investors
Firms observed investing alongside Morningside Venture Capital Limited, from public investor directories. Shared companies are the overlap with Morningside Venture Capital Limited's recorded portfolio.
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