5Y Capital Completes First Close of New RMB Fund | Light Moments
Recently, 5Y Capital completed the first closing of its second RMB-denominated fund.
5Y Capital has completed the first close of its second RMB fund, with total commitments nearing the size of its first RMB fund.
The first-close investors in this new fund include listed companies and industry leaders in information technology, foundations, and market-driven fund-of-funds. Among them are returning LPs from 5Y Capital's first RMB fund, alongside new capital partners who have placed their confidence in the firm.
The new fund will continue to focus on early and growth-stage investments, with particular attention to commercial opportunities arising from paradigm shifts driven by technological innovation. From an industry-demand perspective, it will seek out startups oriented toward application scenarios and ecological value. Primary investment areas include technology supply chains, artificial intelligence, cloud computing and enterprise services, smart healthcare, and other innovations.
"From official launch to first close, this RMB fund raise took just over four months," said Qin Liu, founding partner of 5Y Capital. "Against the backdrop of a challenging RMB fundraising environment and the ongoing pandemic, completing the initial close in such a short timeframe demonstrates that RMB investors deeply recognize 5Y Capital's two-decade commitment to entrepreneurial spirit, our early identification and conviction in disruptive founders, and our investment philosophy centered on long-term value creation.
Going forward, 5Y Capital will continue to evolve, striving to become a platform fund that leads the new era of science and technology venture investing—building on cross-industry investment capabilities while strengthening our leapfrog positioning across both early and growth stages."
Once again, we extend our sincere gratitude to all like-minded investors for their steadfast support and trust. Through wide-angle exploration and deep research, 5Y Capital will identify truly scarce entrepreneurs, awaken and unlock their distinctive talents, disrupt through technological innovation, build exceptional enterprises, and realize value creation.
We believe that when the world begins to believe in the "crazy" version of you that others see, the world becomes a better place.
5Y Capital is one of China's earliest venture capital firms focused on early-stage investing. It currently manages both USD and RMB funds, with total assets under management of approximately several billion dollars. Its LPs include internationally renowned sovereign wealth funds, family offices, fund-of-funds, and university endowments.
Having worked together for nearly two decades, the 5Y Capital team seeks out, supports, and inspires solitary entrepreneurs, sharing in their exceptional vision. The firm provides its insights, industry experience, and comprehensive operational support—from the spiritual to the practical—throughout the entrepreneurial journey.
5Y Capital's successful investments include Sohu (NASDAQ: SOHU), Trip.com Group (NASDAQ: CTRP), The9 (NASDAQ: NCTY), China Distance Education Holdings (NYSE: DL), Focus Media (formerly JO Group, SZ: 002027), Xunlei (NASDAQ: XNET), Phoenix New Media (NYSE: FENG), UCWeb (acquired by Alibaba, NYSE: BABA), JOYY (NASDAQ: YY), Didi Dache (now DiDi), Musical.ly (acquired by ByteDance), NYSE: ZEPP (NYSE: HMI), TAL Education (NYSE: ONE), Huya (NYSE: HUYA), Xiaomi (HK: 0181), Viomi (NASDAQ: VIOT), Kingsoft Office (688111.SH), Lizhi (NASDAQ: LIZI), Agora (NASDAQ: API), and Xpeng Motors (NYSE: XPEV). The portfolio also includes high-growth companies such as Kuaishou, WeDoctor, SenseTime, Souche, Horizon Robotics, Bigo, Aihuishou, Xiaozhu, Maimai, Smartmi, Pony.ai, and Keep.