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MSA Capital

Venture Capital · Founded 2014 · Dongcheng District, China

#436 Investor Ranking 2026 Top 3% of investors worldwide

Global private equity and venture capital firm

89 Portfolio companies+31% in 5 years
25 Unicorns
6 Decacorns
105 Investments
Jul 2026 Last investment
02 · Biggest holdings

MSA Capital’s biggest current holdings.

The most valuable companies MSA Capital still holds, ordered by Dealroom’s latest valuation. Companies that have been acquired or gone public are in Exits instead. Dealroom has no parsed shareholder register for MSA Capital, so the size of each stake isn’t shown.

#CompanyValuation
  1. 1 GrubMarketUnicorn · Food · USA $4.5B
  2. 2 tabbyUnicorn · Fintech · Saudi Arabia $4.5B
  3. 3 DataminrUnicorn · Security · USA $4.1B
  4. 4 TujiaUnicorn · Travel · China $1.5B
  5. 5 Collective HealthUnicorn · Health · USA $1.5B
  6. 6 Abogen BiosciencesUnicorn · Health · China $1.2B
  7. 7 XiaozhuUnicorn · Real Estate · China $1.2B
  8. 8 ZhaogangUnicorn · Telecom · China $1.0B
  9. 9 Zhangshang TangyiUnicorn · Health · China $1.0B
  10. 10 XforceplusUnicorn · Enterprise Software · China $1.0B
  11. 11 CiderUnicorn · Fashion · Hong Kong $1.0B
  12. 12 Asia InnovationsUnicorn · Media · China $1.0B

Unicorns and thoroughbreds MSA Capital has backed and still holds, at Dealroom’s latest valuation. See the underlying shareholder registers on Dealroom →

03 · Exits

MSA Capital’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 MSA Capital’s transaction record.

$82B IPO · 2019
Entered Series B+Now $163BFood
$53B IPO · 2018
Entered Series B+Now $59BTelecom
$6.4B IPO · 2018
Entered Series B+Now $11BEnergy
$8.2B IPO · 2021
Entered Series B+Now $8.2BJobs Recruitment
$6.3B IPO · 2021
Entered Series B+Now $4.1BJobs Recruitment
$2.7B acquisition · 2018
Entered Series B+Transportation
$802M IPO · 2017
Entered Series B+Now $1.9BHealth
$1.5B IPO · 2021
Entered Series B+Now $11MTransportation
$1.2B acquisition · 2022
Entered Series B+Food
04 · Portfolio analysis

Where MSA Capital’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 89 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. China56
  2. USA14
  3. Egypt6
  4. Brazil4
  5. Saudi Arabia4
  6. UAE4
  7. Hong Kong3
  8. Pakistan3
  9. Singapore3
  10. India2
  11. Nigeria2
  12. Peru2
By sectorCount
  1. Health24
  2. Fintech22
  3. Transportation14
  4. Food13
  5. Enterprise Software8
  6. Marketing6
  7. Gaming4
  8. Media4
  9. Telecom4
  10. Energy3
  11. Fashion2
  12. Home Living2
By stage enteredCount
  1. Seed33
  2. Series B+30
  3. Series A26
By growth stageCount
  1. Late Growth47
  2. Breakout Stage38
  3. Early Growth26
05 · Portfolio market map

Inside MSA Capital’s portfolio.

The 60 highest-funded portfolio companies, of 89 tracked.

Uber
Food · Centicorn
$163B
Meituan
Telecom · Decacorn
$59B
Airbnb
Travel · Decacorn
$97B
NIO
Energy · Decacorn
$11B
Nubank
Fintech · Decacorn
$70B
Gorillas
Food · Unicorn
$1.2B
Dataminr
Security · Unicorn
$4.1B
Abogen Biosciences
Health · Unicorn
$1.2B
Mobike
Transportation · Unicorn
$2.7B
Biren Technology
Semiconductors · Decacorn
$12B
Animoca Brands
Gaming · Unicorn
$5.9B
Tujia
Travel · Unicorn
$1.5B
GrubMarket
Food · Unicorn
$4.5B
Collective Health
Health · Unicorn
$1.5B
BGI
Health · Unicorn
$1.9B
Black Sesame Technologies
Transportation · Unicorn
$2.0B
tabby
Fintech · Unicorn
$4.5B
Xiaozhu
Real Estate · Unicorn
$1.2B
Zhaogang
Telecom · Unicorn
$1.0B
Sironax
Health
$800M
Startorus Fusion
Energy
$484M
Orienspace
Space
$110M
Zhangshang Tangyi
Health · Unicorn
$1.0B
DP Technology
Energy
$456M
Swvl
Transportation
$11M
Boss Zhipin
Jobs Recruitment · Unicorn
$4.1B
Xforceplus
Enterprise Software · Unicorn
$1.0B
Kanzhun
Jobs Recruitment · Unicorn
$8.2B
YishengBio
Health
$172M
Xepelin
Fintech
$400M
PYROTECH THERAPEUTICS
Health
$825M
Singleron Biotechnologies
Health
$400M
Cider
Fashion · Unicorn
$1.0B
T11 Food Market
Food
$400M
Sary
Marketing
$375M
SILQ
Enterprise Software
$440M
Axbio
Health
$400M
PAQ Therapeutics
Health
$195M
Cullgen
Health
$300M
Sand.ai
Media
$400M
Yangche Diandian
Fintech
$40M
Cayena
Food
$215M
Belvo
Fintech
$215M
FABU.ai
Transportation
$125M
TradeDepot
Transportation
$220M
Capiter
Marketing
Songshupinpin.com
Marketing
$124M
Amador Bioscience
Health
$240M
SpeedBot
Enterprise Software
$178M
FutureGen
Health
$165M
Fore Coffee
Food
$21M
Homzmart
Home Living
$92M
Thndr
Fintech
$100M
Favo
Marketing
$106M
Zippi
Fintech
$80M
MoTi Vape
China
$124M
NowPay
Fintech
$80M
Yidu Tech
Health
$270M
HOUMO.AI
China
$481M
Raven Tech
Music
$60M
06 · Portfolio founders

Where MSA Capital’s portfolio founders come from.

150 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. China42
  2. United States24
  3. Brazil14
  4. Egypt13
  5. Pakistan8
  6. United Arab Emirates8
  7. Hong Kong5
  8. Chile4
  9. India4
  10. Singapore4
UniversityCount
  1. The American University in Cairo6
  2. Harvard University4
  3. Stanford University4
  4. University of California, Berkeley4
  5. Insper3
  6. Massachusetts Institute of Technology3
  7. Princeton University3
  8. Stanford University Graduate School of Business3
  9. Tsinghua University3
  10. University of Science and Technology of China3
Previous companyCount
  1. Microsoft6
  2. Rocket Internet5
  3. Alphabet | Google4
  4. Careem4
  5. IBM4
  6. Uber4
  7. Boston Consulting Group3
  8. EY3
  9. Jumia Group3
  10. Vodafone3
08 · Key people

Key people at MSA Capital.

Source: Curated from official investor team pages and verified public profiles.