Monolith
Monolith is a venture capital firm co-founded in 2021 by Cao Xi, formerly a partner at Sequoia Capital China, and Tim Wang, formerly a partner at Boyu Capital's secondary market team . The firm operates with a dual-currency structure, having closed its first RMB fund and second USD fund in late 2025 at a combined $488 million, bringing total assets under management past 10 billion RMB .
Its investment thesis centers on artificial intelligence across the full stack: foundational models, application layers, embodied intelligence, and hardware . Monolith has been particularly concentrated in Moonshot AI, committing roughly 15% of one fund to the company across three consecutive rounds . Other notable portfolio companies include GPU designer MetaX, which passed STAR Market IPO review in October 2025 , and robotics startups Xingmai Innovation and Lexiang Technology .
The firm has received external recognition including Preqin's #4 worldwide top-performing VC ranking and Cao Xi's placement at #38 on the 2026 Forbes Midas List, second among Chinese investors that year . Monolith's team is deliberately kept small and flat, with members drawn from AI research, hardware engineering, and consumer product backgrounds .
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Coverage
The DeepSeek Financing Story
"The world was always meant to be this way."
elsewhere别处发生·Monolith's Xi Cao Named to Forbes 2026 Midas List
Made the list for two consecutive years on the strength of investments in MetaX, Unitree, and other companies.
Monolith砺思资本·The Unforgettable Series C Funding of Moonshot AI
A stroke of genius.
elsewhere别处发生·Immortality: Starting with Dogs
Death is not an inevitable law of nature — just an engineering problem.
Monolith砺思资本·Metis Pharmaceuticals lists today, marking Monolith's first HKEX IPO
The scientist who pitched in a KFC just went public today.
Monolith砺思资本·Tiangong Kaiwu: The Fifth Paradigm
A Material, An Industry
Monolith砺思资本·Yunqi Capital Backs CREAO AI's Pre-A Round with Tens of Millions of Dollars to Rebuild the Work Entry Point with Agent OS | Yunqi Portfolio
Betting on a Better Cycle
云启资本·Vibe Coding Should Start From Childhood
A new generation is already entering elsewhere.
elsewhere别处发生·AI Unicorn Factory
Script, catfish, loop, rainmaker, role model, results.
elsewhere别处发生·"OdyssLife" Closes Nearly 200 Million Yuan in New Funding, Linear Capital Continues to Double Down | Linear Portfolio
The world's first smart wearable hardware product for dietary monitoring.
线性资本·5Y News｜GIM Closes Angel Round of Tens of Millions of RMB
GIM Raises Tens of Millions of RMB in Angel Round
五源资本·2026 VC Promotion Roundup
Universal celebration.
elsewhere别处发生·Long-Horizon Autonomous Agents: The Birth of a New Species
Generals are scarce; soldiers come free.
Monolith砺思资本·Two thousand years after the thunder of hooves at the Wolf Mountain victory, that same conquering echo resounds in the age of AI.
The Best Era for Young People
Monolith砺思资本·MONOLITH in Everyone's Eyes — Striving to Be a Honey Badger
Transparent, sincere, truth-seeking
Monolith砺思资本·We now have an Agent on Moltbook.
Let the Token Fly a Little Longer
Monolith砺思资本·After OpenClaw, What Are We Still Missing for Agents That Can Scale?
How Can Agents Actually Be Put into Practice
Monolith砺思资本·As investors, we took Moonshot AI's K2.5 for a spin.
More Than "All-Powerful"
Monolith砺思资本·Looking for the Next Gen Roblox
In gaming, we should always maintain a sense of reverence for what makes something genuinely fun.
Monolith砺思资本·Dancing with Love, Zhang Huaiting: Staying a Calm "Value Builder" Amid the AI Hype
Make decisions toward your goals, not away from your difficulties.
真格基金·The Fundraising Stories of China's "Six Little Tigers": Six Paths, Six Lives
If Kimi ever goes public, will the bell-ringing photo look very different?
elsewhere别处发生·Heading into 2026 with MONOLITH
Happy New Year!
Monolith砺思资本·Will AI Hardware Get Its Own iPhone? | Mono X
All unprofitable hardware innovation is, at its core, a false proposition.
Monolith砺思资本·Monolith Portfolio Company MetaX Lists on STAR Market
We have deep conviction in both the explosive growth potential and long-term staying power of China's domestic computing power market.
Monolith砺思资本·Innovation Often Happens Where No One Has Gone Before | 5Y News Monthly
The big news from last month.
五源资本·Entrepreneurship Is the Most Hardcore Way for Young People to Change the World | Mono X Campus
Be a long-term partner to founders, not a short-term "referee."
Monolith砺思资本·I think the sun will shine bright tomorrow morning | Opening Remarks
Maybe wrong, always fun.
elsewhere别处发生·5Y News｜Hypershell Raises $70 Million in Pre-B and Series B Funding
Leading the Consumer Exoskeleton Into a New Era
五源资本·Hypershell Raises $70 Million Across Two Funding Rounds
Empower people to act, and expand the horizons of their world.
Monolith砺思资本·Hypershell Closes Two Rounds Totaling $70 Million in Funding
Toward a Future Where Everyone Is "Iron Man"?
暗涌Waves·Four years after its last close, Source Code Capital has raised another fund.
Dual-currency, $600 million.
暗涌Waves·MONOLITH Turns Four: Dual-Currency Fund Oversubscribed, Continued Focus on Early-Stage Startups
Finding the Best Companies in the Biggest Shifts
Monolith砺思资本·Monolith Raises $488 Million in New Funding
Assets under management exceed 10 billion RMB.
暗涌Waves·Moonshot AI K2 Thinking: When an "Interleaved Thinking" Model Steps Into the Spotlight, What Actually Changes?
Greater commercial freedom, lower migration costs
Monolith砺思资本·Monolith portfolio company MetaX Technology passes IPO review on STAR Market
A landmark event in the capitalization of China's domestic GPU industry
Monolith砺思资本·Why Are Young People Always the Drivers of Tech Revolutions | MonoX Event Registration
Where do great stories begin?
Monolith砺思资本·Lxson Completes 200 Million Yuan Angel++ Round, Continues Focus on Consumer-Grade Embodied Intelligence Product Development
Accelerating the Mass-Market Scale-Up of Consumer Embodied AI Products
Monolith砺思资本·Starpath Innovation's Beatbot Raises Over 1 Billion Yuan in New Funding, Monolith Continues Backing
Entering the Smart Lawn Mower Robot Space
Monolith砺思资本·The SpaceX of Pharma: Caida Lai's Nanorocket
Only those with fire in their eyes can build rockets.
Monolith砺思资本·The Next Step in Intelligence Enhancement: Is Agent a Patch or the Future? | MonoX
The Value Hierarchy of Large Model Training Is Quietly Being Rewritten
Monolith砺思资本·MiAO Secures Over 100 Million Yuan Investment from X.D. Network
Core focus: high-DAU evergreen games
Monolith砺思资本·Monolith Enters Strategic Talent Partnership with *MIT Technology Review* China
Spotting the founders who will reshape the future before anyone else does.
Monolith砺思资本·Yunqi Capital | "Creao AI" Closes Two Consecutive Rounds of Tens of Millions of Dollars in Funding, with Yunqi Capital as Sole Angel Round Investor
Agentic OS Unlocks a New Paradigm for Agent Collaboration
云启资本·The Ultimate Core of Gaming + AI Is Fun | MonoX
What is the soul of a gaming experience?
Monolith砺思资本·The Future Never Favors the Spectator | Monolith Monthly
Document every step forward.
Monolith砺思资本·When the investors of Ning Wang, Xingxing Wang, and Junjie Zhang sat down together
What makes a "newly made person" new?
暗涌Waves·Yuaiweiwu Lin Wang: From Education Going Online to Going Intelligent — When Will the AI-Powered All-Capable Personal Tutor Arrive? | Gaorong Future
"Yuaiweiwu" — dancing with love, and dancing with AI.
高榕创投·How AI Is Reshaping the Gaming Experience | MonoX Indie Spotlight
July 7–11, see you in Shanghai
Monolith砺思资本·MONOLITH Intern Recruitment | See the Future Together
Intern Recruitment for Primary and Secondary Market Teams
Monolith砺思资本·The Wind Still Howls Where No One Stands | Monolith Monthly
Every step is worth recording.
Monolith砺思资本·The Answer Isn't on the Old Map | 5Y News Monthly
The big news from last month.
五源资本·Xi Cao of Monolith Named to Forbes 2025 Midas List
First-time appearance on the list thanks to early-stage investments in Kuaishou and Unitree
Monolith砺思资本·5Y News | D-Robotics Closes $100 Million Series A to Accelerate Embodied AI Ecosystem Buildout
Accelerating the intelligent evolution of robots.
五源资本·Deebot Robotics Closes $100 Million Series A, Monolith Co-Leads
The "Common Choice" of Robot Developers Worldwide
Monolith砺思资本·"D-Robotics Closes $100 Million Series A to Accelerate Embodied Intelligence Ecosystem Build-Out | Linear Portfolio"
From Horizon Robotics' earliest backer to Digua's earliest backer.
线性资本·Lxson Closes Nine-Figure RMB "Angel+" Round, Raising Two Rounds in Three Months
Building the Home Mobile Hardware Terminal for the AI Era
Monolith砺思资本·Even Realities: The First Eye
The subject of smart glasses can only be glasses, and nothing else.
Monolith砺思资本·Monolith ranked among the top 30 best foreign VC firms on the ChinaVenture list in Q1, among 27 total honors.
Every achievement owes itself to the founders' foresight and hands-on execution.
Monolith砺思资本·No matter how the world changes, *Dark Tide* turns three.
Before the sun rises, Anyong will keep searching for answers alongside all of you.
暗涌Waves·Monolith入选Preqin「全球最佳业绩表现投资机构TOP4」 Monolith Selected as a Top 4 Global Best-Performing Investment Firm by Preqin
Walk alongside true value creators
Monolith砺思资本·Lxson Raises Nearly RMB 200 Million in Angel Round, Co-Invested by Monolith
Embrace the best technology and the best partners
Monolith砺思资本·Walking Through 2024 With Monolith
Confidence is more precious than gold.
Monolith砺思资本·China's USD Funds Won't Disappear
Live long enough to long China.
暗涌Waves·A Conversation with Li Xiang: Throwing Questions at Someone Who's Always Asking
Reflections of a Lifelong Business Journalist
Monolith砺思资本·Monolith Turns Three: A Mountain of Ten Thousand Fathoms — Climbed One Step at a Time
Only the best is good enough.
Monolith砺思资本·Monolith ranked No. 1 on Preqin's list of top-performing VC USD funds.
Seizing the Biggest Opportunity in the Biggest Shift
Monolith砺思资本·We invested in large language models, AI applications, and embodied intelligence, but BlueRun Ventures still feels it hasn't FOMO'd hard enough.
The more optimistic doers.
暗涌Waves·He opened up America with a streak of blue.
Chatting with Shengle Wang About Pool Robots, the US Market, and *Hillbilly Elegy*
Monolith砺思资本·5Y News | 5Y Capital Portfolio Company METiS Pharmaceuticals Closes $100 Million Series C Round
Focused on "AI-powered drug delivery."
五源资本·A Conversation with Liming Gao: The Zheng Huangs and Yiming Zhangs of the AI Era Are Already Starting Up
It takes ten years to figure it out, and one minute to pull the trigger.
Monolith砺思资本·Exclusive | Moonshot AI's valuation reaches $3 billion in new round; Tencent joins after Alibaba
A full list of Moonshot AI's investors to date.
暗涌Waves·A Conversation with Liu Zhiyu: Artificial Intelligence Can Attain Enlightenment Too
The rarest thing in this world is authenticity.
Monolith砺思资本·Zhilin Yang: Innovation, Long-Term Thinking, First Principles
I'll see you on the other side of the moon.
Monolith砺思资本·In less than six months, Moonshot AI's smart assistant has increased its capacity tenfold, now supporting 2 million characters of lossless context.
The Power of Focus
Monolith砺思资本·Lisi Capital wishes everyone a happy Year of the Dragon!
Day by day, no effort is ever wasted.
Monolith砺思资本·Looking Back at 2023: The World Has Really Changed
These people and events reshaped 2023 — and will shape the years ahead.
暗涌Waves·Wang Yu of Tsinghua University: Lowering Costs Is Key to Commercializing Large Models
Solving the Last Mile for Large Model Deployment
Monolith砺思资本·Monolith Management Earns Multiple Honors in H2 2023 | Monolith Journey
Sailing alongside technology visionaries
Monolith砺思资本·Brain-Computer Interfaces, XR Chips Close Funding Rounds as New Products and Markets Open Fresh Chapters | Rongbao · October
Embrace the new era of growth.
高榕创投·November: Stay Curious and Imaginative | 5Y News Monthly
The big news from last month.
五源资本·5Y News | GravityXR Closes Hundreds of Millions of RMB in Series A Funding to Advance Dedicated Chip for "XR Spatial Computing"
Create a brand-new world that blends the virtual and the real.
五源资本·GravityXR has completed a Series A financing round of several hundred million RMB, led by Lisi Capital.
A Complete Transformation of Future Human-Computer Interaction
Monolith砺思资本·GravityXR Closes Hundreds of Millions of RMB in Series A Funding to Advance Dedicated Chip for "XR Spatial Computing"
Using chips as the platform to lead the way in delivering ultimate XR experiences.
高榕创投·Moonshot AI Kicks Off the "Long-Context Era" for 100-Billion-Parameter Models
A 100-billion-parameter LLM product that supports 200,000-word context windows
Monolith砺思资本·Lizhao Technology Raises Tens of Millions in Pre-A Round, Monolith Capital Co-Invests
Build a world-class Chinese RF plasma solutions enterprise.
Monolith砺思资本·Destruction Precedes Creation: Rebooting the Era of General Artificial Intelligence
On August 22, Chinese tech think tank *Jazzyear* hosted the "2023 Jazzyear Gravitational Force X Tech Industry Investment Conference" in Beijing. Dozens of industry leaders gathered to discuss cutting-edge topics, using AI and other hard-tech investments as a starting point to analyze emerging trends in the tech industry and explore new directions, opportunities, and futures for the sector. In 2023, generative AI led by ChatGPT has swept across the globe, ushering in a second wave of artificial intelligence.
线性资本·Monolith Scores Multiple Honors in First Half of 2023 | Monolith Journey
Create a More Imaginative World
Monolith砺思资本·Li Guofei's 10,000-Word Interview: Seeking Wisdom Is About Constantly Breaking the Prison of the Mind
Two worlds that seem to have nothing to do with each other may, at their foundations, arrive at the same destination by different paths.
暗涌Waves·Entrepreneurship is a climb where the journey itself is the reward.
The journey is the reward.
Monolith砺思资本·Xi Cao of Lisi Capital and His Eleven Luo Han --- Wait — let me reconsider. "十一罗汉" is almost certainly a reference to *Ocean's Eleven* (the film), used here as a playful nickname for his team. Let me adjust: Xi Cao of Lisi Capital and His Ocean's Eleven
Starting a business is like climbing a mountain — the meaning lies in the climb itself.
暗涌Waves·Let's Swim Until the Sea Turns Blue
When others see the spray, we see the shifting tide.
Monolith砺思资本·MONOLITH砺思资本｜Riding with Great Tech Companies
Think to know, and temper through action.
Monolith砺思资本·"You're only 36. You can be anyone you want to be."
Never stop moving forward.
暗涌Waves·Monolith Capital, alongside great technology companies
Monolith is an investment management firm co-founded in 2021 by Xi Cao, formerly a partner at Sequoia China, and Tim Wang, formerly a partner in the public markets team at Boyu Capital. Monolith covers both private and public markets, including its current VC fund and a previously high-performing debut hedge fund. **Monolith's assets under management have reached nearly $800 million.**
Monolith砺思资本·From the Big League to the Niche: The Glory Days of a Generation of Chinese VCs
How they will rethink fame, cycles, and investment.
暗涌Waves·New Tracks, Interdisciplinary Fields, Down-Market Expansion, Data Infrastructure... Four Companies Raise Nearly 1.2 Billion RMB in Funding | FreeS Family Funding News · Vol 10
Looking forward to working alongside more outstanding founders.
峰瑞资本·5Y News | METiS Pharmaceuticals Closes Two Consecutive Rounds Raising $150 Million Total
Become an industry innovation leader.
五源资本·
