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Matrix Partners China

Venture Capital · Founded 1977 · Dongcheng District, China

#163 Investor Ranking 2026 Top 1% of investors worldwide
403 Portfolio companies+34% in 5 years
51 Unicorns
5 Decacorns
574 Investments
Aug 2026 Last investment
02 · Biggest holdings

Matrix Partners China’s biggest current holdings.

Matrix Partners China is a named shareholder in 13 companies. Dealroom estimates those stakes are worth about $3.4B in total — the disclosed percentage × each company’s latest valuation. The 12 biggest are below, each sized by that estimate.

#CompanyEst. stakeValuationEst. value
  1. 1 YuanfudaoEducation · Decacorn 8.5% $15.5B $1.3B
  2. 2 GuaziMarketing · Unicorn 6.5% $9.0B $585M
  3. 3 Beijing Interstellar Glory Space TechnologySpace · Unicorn 8.5% $4.2B $353M
  4. 4 KK GroupMarketing · Unicorn 7.5% $3.0B $225M
  5. 5 OfoTransportation · Unicorn 6% $3.5B $208M
  6. 6 VipkidEducation · Unicorn 6% $3.0B $180M
  7. 7 2.5% $6.0B $150M
  8. 8 4% $2.9B $116M
  9. 9 9.2% $1.0B $92M
  10. 10 7.5% $1.0B $75M
  11. 11 2.5% $2.1B $52M
  12. 12 3% $1.1B $33M

Showing the 12 largest of 13 disclosed direct holdings.

6 companies hidden on this public profile. 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 shareholder registers on Dealroom →

03 · 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.

MetaX
$48B IPO · 2025
Entered Series ANow $39BSemiconductors
$10B IPO · 2020
Now $1.3BTransportation
$2.9B IPO · 2017
Entered Series ANow $606MFintech
$2.9B IPO · 2023
Entered Series B+Now $74MEnterprise Software
$2.8B IPO · 2023
Entered Series B+Now $2.8BEngineering and Manufacturing Equipment
$2.0B IPO · 2018
Entered Series ANow Media
$1.6B IPO · 2017
Entered SeedNow $1.7BHealth
InventisBio
$296M IPO · 2022
Entered Series B+Now $1.5BHealth
IPO · 2016
Entered Series B+Now $1.4BMedia
Lightelligence
$1.3B IPO · 2026
Entered Series ANow $1.3BSemiconductors
$1.2B IPO · 2023
Entered Series B+Now $1.2BEducation
CREAT
IPO · 2010
Entered Series ANow $1.1BEnterprise Software
04 · 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
05 · 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
06 · 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