Product Reports Resources Pricing Login Book a demo
Investor profile

Matrix Partners China

Venture Capital · Founded 1977 · Dongcheng District, China

403 portfolio companies Venture Capital · $20B invested · 574 investments · Investor rank #124 · Last investment 8/2026
Portfolio companies 403 ↑ 34% 5y
Decacorns 5
Thoroughbreds 21 ↑ 15% 5y
01 · Biggest holdings

Matrix Partners China’s biggest current holdings.

The most valuable companies Matrix Partners China still holds — unicorns and thoroughbreds it has backed, ordered by Dealroom’s latest valuation. Companies that have been acquired or gone public are in Exits instead. Where a cap table names Matrix Partners China directly, the stake and its estimated value are shown too.

#CompanyEst. stakeValuationEst. value
  1. 1 YuanfudaoDecacorn · Education · China 8.5% $15.5B $1.3B
  2. 2 GuaziUnicorn · Transportation · China 6.5% $9.0B $585M
  3. 3 LianjiaUnicorn · Real Estate · China $6.0B
  4. 4 HithiumUnicorn · Energy · China $3.5B
  5. 5 OfoUnicorn · Transportation · China 6% $3.5B $312M
  6. 6 VipkidUnicorn · Education · USA 6% $3.0B $180M
  7. 7 KK GroupUnicorn · Marketing · Indonesia 7.5% $3.0B $225M
  8. 8 GalbotUnicorn · Robotics · China $2.9B
  9. 9 PingCAPUnicorn · Enterprise Software · USA $2.9B
  10. 10 LightwheelUnicorn · Transportation · China $2.1B
  11. 11 AgiBot | Zhiyuan RobotUnicorn · Robotics · China $2.1B
  12. 12 LandSpace TechnologyUnicorn · Transportation · China $2.1B

Estimated value = Matrix Partners China’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. Matrix Partners China also appears inside investor groups in Galaxy Space, where a standalone stake isn’t disclosed. See the underlying cap tables on Dealroom →

02 · Exits

Matrix Partners China’s 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 Matrix Partners China’s transaction record.

$73B IPO · 2021
Now $14BTransportation
MetaX
$48B IPO · 2025
Entered Series ANow $39BSemiconductors
Baofeng
IPO · 2015
Now $19BMedia
$8.4B IPO · 2020
Now $14BEnergy
$10B IPO · 2020
Now $1.3BTransportation
$9.5B acquisition · 2018
Food
IPO · 2011
Now $5.2BTelecom
$4.7B IPO · 2021
Now $1.6BHealth
RemeGen
$4.3B IPO · 2020
Now $4.3BHealth
$1.9B IPO · 2019
Now $3.4BEnergy
$2.9B IPO · 2017
Entered Series ANow $606MFintech
$2.9B IPO · 2023
Entered Series B+Now $74MEnterprise Software
03 · Portfolio analysis

Where Matrix Partners China’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 403 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. China417
  2. USA34
  3. Hong Kong4
  4. Singapore4
  5. India2
  6. Brazil1
  7. Ghana1
  8. Indonesia1
By sectorCount
  1. Health79
  2. Enterprise Software43
  3. Transportation35
  4. Fintech30
  5. Robotics27
  6. Media25
  7. Semiconductors23
  8. Marketing19
  9. Education18
  10. Fashion17
  11. Food17
  12. Security10
By stage enteredCount
  1. Series A156
  2. Series B+78
  3. Seed76
By growth stageCount
  1. Early Growth167
  2. Breakout Stage156
  3. Late Growth145
  4. Mature2
04 · Portfolio market map

Inside Matrix Partners China’s portfolio.

The 60 highest-funded portfolio companies, of 403 tracked.

DiDi
Transportation · Decacorn
$14B
Ele.me
Food · Unicorn
$9.5B
Guazi
Transportation · Unicorn
$9.0B
Yuanfudao
Education · Decacorn
$16B
Lianjia
Real Estate · Unicorn
$6.0B
XPeng
Energy · Decacorn
$14B
Ofo
Transportation · Unicorn
$3.5B
Li Auto
Transportation · Unicorn
$1.3B
Beijing Interstellar Glory Space Technology
Space
$550M
CG Satellite
Space · Unicorn
$2.9B
Klook
Travel · Unicorn
$1.0B
Zhenkunhang
Engineering and Manufacturing Equipment · Unicorn
$2.8B
Hithium
Energy · Unicorn
$3.5B
Vipkid
Education · Unicorn
$3.0B
Galbot
Robotics · Unicorn
$2.9B
Xingyun Group
Transportation · Unicorn
$1.4B
DST Car
Energy
$400M
KK Group
Marketing · Unicorn
$3.0B
Semidrive
Transportation
$688M
Smart Fabric
Fashion · Unicorn
$1.8B
Ucommune
Real Estate
Zhejiang Taimei Medical Technology
Health
$218M
LandSpace Technology
Transportation · Unicorn
$2.1B
Xiaopangxiong
Real Estate · Unicorn
$1.6B
Bona Film Group
Media · Unicorn
$1.4B
Meshy
Gaming · Unicorn
$1.5B
Fenbi Education
Education · Unicorn
$1.2B
MegaRobo
Robotics · Unicorn
$1.0B
Yunxuetang
Education
$600M
Qiniu
Hosting
$564M
Beisen
Enterprise Software
$74M
D3 Bio
Health · Unicorn
$1.0B
FOR-U
Transportation
$800M
Hanbo Semiconductor
Semiconductors · Unicorn
$1.4B
Zhaogang
Telecom · Unicorn
$1.0B
Momo
Dating
Senti Biosciences
Health
$21M
Ambrx
Health · Unicorn
$1.6B
Weiyuan Synthetic Biotechnology
Health
$688M
Lexin
Fintech
$606M
PingCAP
Enterprise Software · Unicorn
$2.9B
MetaX
Semiconductors · Decacorn
$39B
Chemclin (China Diagnostic Medical Corporation)
Health
$66M
Lightelligence
Semiconductors · Unicorn
$1.3B
Adlai Nortye
Health
$874M
Lightwheel
Transportation · Unicorn
$2.1B
QingCloud
Hosting
$366M
NiKang Therapeutics
Health
$382M
ETCP
Transportation · Unicorn
$1.0B
DP Technology
Energy
$456M
Weimai
Health
$888M
Fuyoukache
Transportation
$680M
InventisBio
Health · Unicorn
$1.5B
GeneCast Biotechnology
Health
$596M
Cyclone
Enterprise Software
$750M
Shanghai Xingsi Semiconductor
Semiconductors · Unicorn
$1.1B
SoYoung Technology
Health
$157M
Peijia Medical
Health
$331M
To8to (Tubatu)
Home Living · Unicorn
$2.0B
Shanghai Nasen Automotive Electronics
Transportation
$275M
05 · Portfolio founders

Where Matrix Partners China’s portfolio founders come from.

148 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. China119
  2. United States20
  3. Hong Kong3
  4. Indonesia2
  5. France1
UniversityCount
  1. Peking University5
  2. Massachusetts Institute of Technology4
  3. Tsinghua University4
  4. Harvard University3
  5. Xi'an Jiaotong University3
  6. Cheung Kong Graduate School of Business2
  7. Cornell University2
  8. German Swiss International School2
  9. Harvard Business School2
  10. Nanyang Technological University2
Previous companyCount
  1. Baidu3
  2. Massachusetts Institute of Technology3
  3. Microsoft3
  4. BeOne Medicines2
  5. Boston Consulting Group2
  6. Eli Lilly2
  7. Fosun Group2
  8. Goldman Sachs2
  9. Kronos Incorporated2
  10. NetEase2
07 · Key people

Key people at Matrix Partners China.

Source: Dealroom next-gen API — investor team endpoint.