Xi Cao of Monolith Named to Forbes 2025 Midas List

On May 27, the Forbes Midas List — often called the "Oscars" of the investment world — released its 2025 rankings. Xi Cao, founding partner of Monolith, made his debut on the list at No. 39 globally, recognized for his early bets on Kuaishou, Unitree, and other companies.

The Midas List is compiled by Forbes in partnership with TrueBridge Capital Partners. The annual ranking combines public data with submissions from hundreds of venture capital firms, using a data-driven methodology that carries significant prestige worldwide.

Each year, the Midas List selects 100 top venture capitalists from around the globe who have delivered some of the industry's most outsized returns through sharp investment judgment.

Forbes editors' summary:

Xi Cao is the founding partner of Monolith and was the fastest-rising and youngest partner in HSG's history. During his time at HSG, he also led and managed the firm's seed fund.

In 2014, after a conversation with Kuaishou co-founder Hua Su at a Beijing café, Cao helped push HSG to invest in the startup. The Chinese short-video platform went public in 2021 at a valuation exceeding $200 billion.

In 2019, he made an early bet on humanoid robotics company Unitree, which has since grown into a unicorn valued at over $1 billion.

In 2021, Cao founded Monolith alongside former Boyu Capital investor Tim Wang. From its inception, the fund has operated across both primary and secondary markets, backing startups as well as public companies.

Cao holds dual bachelor's degrees in basic medical sciences and economics from Peking University. He began his career at Chinese tech giant Tencent.

Full list: https://www.forbes.com/lists/midas/