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GSR Ventures

Venture Capital · Founded 2004 · Menlo Park, United States

#402 Investor Ranking 2026 Top 3% of investors worldwide

VC fund that invests primarily in early and growth stage technology companies with substantial operations in China

273 Portfolio companies+51% in 5 years
24 Unicorns
3 Decacorns
392 Investments
Aug 2026 Last investment
02 · Biggest holdings

GSR Ventures’ biggest current holdings.

GSR Ventures is a named shareholder in 6 companies. Dealroom estimates those stakes are worth about $1.6B in total — the disclosed percentage × each company’s latest valuation. The 6 biggest are below, each sized by that estimate.

#CompanyEst. stakeValuationEst. value
  1. 1 RedNoteMedia · Decacorn 3.5% $31.0B $1.1B
  2. 2 MedableHealth · Unicorn 13.5% $2.1B $284M
  3. 3 MokaJobs Recruitment · Unicorn 10% $1.0B $100M
  4. 4 NiumFintech · Unicorn 4.5% $1.4B $63M
  5. 5 HuohuaEducation · Unicorn 3.5% $1.5B $52M
  6. 6 AibeeEnterprise Software · Unicorn 1.5% $1.0B $15M

Estimated value = GSR Ventures’ disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. GSR Ventures also appears inside investor groups in Xingsheng Youxuan, where a standalone stake isn’t disclosed. See the underlying shareholder registers on Dealroom →

03 · Exits

GSR Ventures’ biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from GSR Ventures’ transaction record.

$73B IPO · 2021
Entered Series ANow $14BTransportation
$9.5B acquisition · 2018
Entered Series B+Food
Qunar
IPO · 2013
Entered Series ANow $4.4BTravel
IPO · 2016
Entered Series ANow $1.5BMarketing
$1.5B IPO · 2025
Entered SeedNow $1.5BTransportation
04 · Portfolio analysis

Where GSR Ventures’ portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 273 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. China163
  2. USA93
  3. Singapore20
  4. UK5
  5. Canada3
  6. Hong Kong3
  7. India2
  8. Japan2
  9. UAE2
  10. Vietnam2
  11. Bahamas1
  12. Barbados1
By sectorCount
  1. Fintech53
  2. Enterprise Software43
  3. Health23
  4. Media23
  5. Marketing21
  6. Transportation20
  7. Security16
  8. Gaming15
  9. Fashion14
  10. Robotics13
  11. Education9
  12. Semiconductors9
By stage enteredCount
  1. Series A137
  2. Seed74
  3. Series B+58
By growth stageCount
  1. Early Growth148
  2. Breakout Stage112
  3. Late Growth51
  4. Mature2
05 · Portfolio market map

Inside GSR Ventures’ portfolio.

The 60 highest-funded portfolio companies, of 273 tracked.

DiDi
Transportation · Decacorn
$14B
Ele.me
Food · Unicorn
$9.5B
Xingsheng Youxuan
Food · Unicorn
$6.0B
Ofo
Transportation · Unicorn
$3.5B
RedNote
Media · Decacorn
$31B
Skydio
Robotics · Unicorn
$4.4B
Plus
Transportation · Unicorn
$1.5B
Advance.ai
Security · Unicorn
$2.0B
Galaxea AI
Robotics · Unicorn
$2.8B
Qunar
Travel · Unicorn
$4.4B
Huohua
Education · Unicorn
$1.5B
OPay
Fintech · Unicorn
$2.0B
Medable
Health · Unicorn
$2.1B
LibLib
Media · Unicorn
$2.0B
Windrose Technology
Transportation
$400M
Fiture
Sports · Unicorn
$1.0B
Boston-Power
Energy
$240M
M-DAQ
Fintech
$737M
AeroFarms
Food
Flexiv
Robotics
$400M
Nium
Fintech · Unicorn
$1.4B
Tongcheng Life
Food
$800M
Firework
Media
$750M
Black Lake Technologies
Enterprise Software · Unicorn
$1.0B
Nimble
Robotics · Unicorn
$1.0B
Aibee
Enterprise Software · Unicorn
$1.0B
Raise
Marketing
$252M
Abound
Fintech
$422M
Lattice Power
Semiconductors
$140M
Protean Electric
Energy
$160M
Beijing Huixi Intelligent Information Technology
Transportation
$463M
Peilian.com
Music
$600M
Lashou.com
Telecom · Unicorn
$1.2B
Figment
Fintech · Unicorn
$1.4B
ShadowBot
Enterprise Software
$400M
Deepmap
Transportation
$240M
Xyb2b.com
Food
$400M
Moka
Jobs Recruitment · Unicorn
$1.0B
Seahi Robotics
Robotics
$550M
Whalehouse Technology
Transportation
$375M
Lanhu
Enterprise Software
$311M
Beijing Yimei Xinchuang Technology
Semiconductors
$258M
iBoxPay
Fintech
$400M
Osso VR
Health
$264M
Neuron Mobility
Transportation
$174M
Yangche Diandian
Fintech
$40M
Datacloak
Security
$200M
Qredo
Security
$460M
DataVisor
Security
$160M
BloXroute Labs
Fintech
$280M
Diamanti
Fintech
$140M
FunPlus
Gaming
$296M
Thinking Data
Gaming
$259M
Yunnex
Fintech
$80M
AppliedVR
Health
$144M
CastBox
Media
$54M
YCloset
Fashion
$200M
C3Nano
Energy
$70M
Infinite Uptime
Enterprise Software
$140M
Skyroam
Travel
$80M
06 · Portfolio founders

Where GSR Ventures’ portfolio founders come from.

153 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States65
  2. China57
  3. Singapore10
  4. United Kingdom4
  5. Canada3
  6. South Africa3
  7. Nigeria2
  8. Hong Kong1
  9. Netherlands1
  10. Peru1
UniversityCount
  1. Stanford University16
  2. University of California, Berkeley9
  3. Peking University7
  4. Massachusetts Institute of Technology6
  5. National University of Singapore4
  6. Tsinghua University4
  7. University of Illinois Urbana Champaign4
  8. University of Texas at Austin4
  9. Shanghai Jiaotong University3
  10. Stanford University Graduate School of Business3
Previous companyCount
  1. Microsoft8
  2. Alphabet | Google7
  3. Goldman Sachs4
  4. McKinsey & Company4
  5. Stanford University4
  6. Yahoo!4
  7. Amazon3
  8. Citibank3
  9. Climate Pledge Fund3
  10. EY3