Monolith Management

Monolith Management (砺思资本) is a venture fund co-founded in 2021 by Xi Cao, formerly of Sequoia China, and Tim Wang, previously a partner at Boyu Capital's public markets team . The firm positions itself as a mid-sized, "sniper-style" boutique fund focused on finding alpha in AI and technology, with a stated philosophy of backing "the best companies amid the biggest changes" .

By late 2025, Monolith had closed fundraising for both its USD and RMB vehicles, with total assets under management exceeding 10 billion RMB (roughly $1.4 billion) . That same year it raised $488 million in new USD commitments, a notable achievement as dollar LP interest in China had become highly selective .

The firm's portfolio is concentrated on AI's full stack: large language models (Moonshot AI/Kimi, which it backed across three consecutive rounds) , AI chips (MetaX, which IPO'd on the STAR Market) , and embodied intelligence and robotics (InfiniGence AI, Hypershell Tech, among others) . It also invested 3 billion RMB in DeepSeek . Cao Xi ranked 38th on Forbes' 2026 Midas List for these early bets , and Preqin placed Monolith 4th globally among similarly sized funds .