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 11, 2026.
What they invest in
from 26 of 88 portfolio companiesAI & Machine Learning ×11Consumer ×10Hardware ×6Data & Infrastructure ×5Media & Entertainment ×5Semiconductors ×4Circular Economy ×3Cloud Computing ×3
HQs:China×17United States×2
Investments · 88 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
Trip.com is an online travel booking platform where users can reserve hotels, flights, trains, car rentals, and activities or event tickets across global destinations.
ConsumerMarketplacesTravel & Hospitality
Lexi is an AI tool that generates creative and advertising content for marketers and agencies managing clients across different industries.
AdTechAI & Machine LearningMarketing Tech
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)
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
AiHuiShou (operated by Shanghai Wanwu Xinsheng Environmental Technology Group) is a Chinese platform for recycling and trading used electronic devices such as smartphones.
Circular EconomyE-commerceMarketplacesShanghai, CN
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)
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)
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
Horizon Robotics develops intelligent driving technology and assisted driving systems for automotive manufacturers globally.
AI & Machine LearningHardwareMobility & TransportationRoboticsSemiconductorsBeijing, CN
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 ToolsSaaSSanta Clara, US
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
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 ZhangRubo LiangZhang Yiming(Founder)
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
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
Bambu Lab (拓竹) designs and sells consumer 3D printers and printing materials such as its PLA filament, distributing through its own retail stores and Sam's Club locations in China.
Advanced ManufacturingConsumerHardwareShenzhen, CN
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
AI-powered medical imaging company.
Exits · 1
IPOs and acquisitions across the tracked portfolioATRenew (NYSE: RERE)NYSE: RERE
Frequently asked questions
- 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.
Images
Co-investors · 14
Granite Asia is a multi-asset investment platform based in Asia that partners with founders to build industry-leading companies, investing across private equity, private credit, and public markets.
Qiming Venture Partners is a China-focused venture capital firm that backs entrepreneurs across technology and healthcare sectors, taking active board and strategic roles from early rounds through public listings.
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.
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, with a strong current focus on artificial intelligence.
Notable Capital is an early-stage venture firm that partners closely with founders, providing hands-on operational support through a platform team of experienced operators across hiring, sales, leadership development, storytelling, and engineering.
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 a venture capital firm that backs founders at the earliest stages, often as their first investor before a product exists.
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 is a pre-seed/seed-stage venture firm that positions itself as a community of founders, advisors, LPs and network members supporting portfolio companies.
▶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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