Shenzhen
Metro area · China · Pop. 23.3M · #11 city by EV
Largest rounds
Largest funding rounds in Shenzhen
A live treemap of $100M+ rounds from the Dealroom API. Each cell is one round into Shenzhen-headquartered companies, grouped by Dealroom sector.
Largest rounds in Shenzhen - 2026
Startup funnel
Shenzhen's power-law funnel
From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.
* 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.
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. Live from the Dealroom Next Gen API.
Notable companies
Top private companies in Shenzhen
Up to 20 names per tier from Dealroom's tracked dataset. Decacorns are valued $10B+, unicorns $1B+, thoroughbreds have crossed $100M in revenue.
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.
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Notable alumni-founded: MeituanPinduoduoByteDance (co-founders)Zhipu AI
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Notable alumni-founded: Baidu (founder)MegviiLufax
Location comparison
How Shenzhen stacks up
Compare Shenzhen with peers from the same country (China) — switch between combined EV, 5-year 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 (#4).
| # | Ecosystem | Combined EV | 5-yr EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | Yangtze Delta Region | $1.9T | 2.6× | 190 | $9B | 6,728 |
| 2 | Jingjinji Metropolitan Region | $1.7T | 3.7× | 175 | $6.4B | 4,437 |
| 3 | Beijing | $1.7T | 3.6× | 169 | $6.3B | 4,257 |
| 4 | Shenzhen | $1T | 1.9× | 45 | $2B | 2,115 |
| 5 | Shanghai | $924B | 4.9× | 122 | $3.8B | 3,462 |
| 6 | Hangzhou | $608B | 1.2× | 31 | $1.7B | 1,372 |
| 7 | Guangzhou | $167B | 13.6× | 15 | $713.3M | 1,522 |
| 8 | Nanjing | $126B | 9.3× | 10 | $338.4M | 474 |
| 9 | Wuhan | $27.4B | 4.0× | 8 | $379.6M | 333 |
| 10 | Chongqing | $25.8B | 11.9× | 6 | $1B | 177 |
| 11 | Chengdu | $24.2B | 21.3× | 5 | $355.2M | 385 |
| 12 | Changzhou | $18.9B | 4.2× | 2 | $3.8M | 106 |
Premium analytics
What we don't show on this page (yet)
Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full Shenzhen dataset — or see a sample on the Dealroom app.
Get the full Shenzhen ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.