Shenzhen
Metro area · China · Pop. 23.3M · #11 city by EV
* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.
Quarterly report
Shenzhen's latest quarter in venture capital
VC raised by Shenzhen-headquartered companies in the quarter shown, against the quarter before and the same quarter a year earlier.
Latest complete quarter
Loading VC raised by Shenzhen-headquartered companies…
Largest rounds
Largest funding rounds in Shenzhen
A live treemap of the largest VC rounds. Each cell is one round into Shenzhen-headquartered companies, grouped by Dealroom sector.
Largest rounds in Shenzhen - 2026
VC investment
How much venture capital flows into Shenzhen
VC investment into Shenzhen-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.
Academia
Shenzhen's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Shenzhen.
| # | University | City | Based here | Companies |
|---|---|---|---|---|
| 1 | 🇨🇳Tsinghua University | Beijing | 24 | 906 |
| 2 | 🇨🇳Peking University | Beijing | 14 | 659 |
Location comparison
How Shenzhen stacks up
Compare Shenzhen with peers from the same country (China) — switch between combined EV, EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top cities in China ranked by combined EV. Shenzhen's row is highlighted (#5).
| # | Ecosystem | Combined EV | EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | Yangtze Delta Region | $2.1T | 3.9× | 219 | $10.2B | 7,063 |
| 2 | Jingjinji Metropolitan Region | $1.8T | 3.7× | 178 | $6.8B | 4,511 |
| 3 | Beijing | $1.7T | 3.7× | 174 | $6.7B | 4,324 |
| 4 | Shanghai | $1.1T | 7.3× | 141 | $4.7B | 3,586 |
| 5 | Shenzhen | $1T | 20.5× | 54 | $2.4B | 2,250 |
| 6 | Hangzhou | $641B | 1.8× | 37 | $2.2B | 1,450 |
| 7 | Guangzhou | $208B | 20.0× | 16 | $891.8M | 1,545 |
| 8 | Nanjing | $109B | 6.7× | 10 | $338.4M | 491 |
| 9 | Suzhou | $94.5B | 18.2× | 14 | $1.1B | 650 |
| 10 | Wuhan | $32.5B | 7.0× | 8 | $420.9M | 348 |
| 11 | Chengdu | $31.5B | 25.2× | 5 | $410.2M | 401 |
| 12 | Chongqing | $24.4B | 15.0× | 5 | $1B | 177 |
More data
Explore Dealroom data →Get the full Shenzhen ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.