5Y Capital
 | |
Native name | 五源资本 |
|---|---|
| Formerly | Morningside Venture Capital (晨兴资本) |
| Company type | Private |
| Industry | Venture Capital |
| Founded | 2008 |
| Founders | Shi Jianming (Ken) Liu Qin (Richard) |
| Headquarters | Wuyuan Road, Shanghai, China |
| Products | Investments |
| AUM | $5 billion (31 March 2021)[1] |
| Website | www.5ycap.com |
| Footnotes / references [2][3] | |
5Y Capital (Chinese: 五源资本; pinyin: Wǔyuán zīběn) is a Shanghai-based venture capital firm founded in 2008. It was previously known as Morningside Venture Capital before it rebranded in October 2020.[4][5][3]
Background
[edit]5Y Capital was founded in 2008 by Ken Shi and Richard Liu under the name, Morningside Venture Capital.[1][3][6]
Prior to founding the firm, Liu and Shi worked as investment professionals at the Morningside Group, a family office founded in 1986 by Gerald Chan and his family. The Chan family currently runs the Hang Lung Group in Hong Kong.[3]
As a gesture of support, Morningside Group authorized the firm to use the ‘Morningside’ brand in its operations as well as being a key investor in the firm.[3][6]
In October 2020, the firm rebranded to 5Y Capital. The name comes from 'Wuyuan Road' which is the street where the firm has been headquartered since its inception.[1][4][5]
In 2021, Bloomberg reported that the firm was seeking to raise a new fund, and that it had delivered a $30 billion return on its investment in Kuaishou.[7] It closed a number of funds after reaching hard caps that year.[8]
In November 2023, it was reported that 5Y Capital was on track to surpass its target of raising $700 million for its new fund. This came when fundraising during the year had significantly declined due to various factors such as the China–United States trade war that limited US investments in Chinese firms.[9]
Investment model
[edit]5Y Capital focuses on early-stage venture investments in different sectors.[1][3]
Notable investments include Xiaomi, Kuaishou, SenseTime, Pony.ai and XPeng.[1][3][5]
References
[edit]- ^ a b c d e "Xiaomi backer closes $2bn worth of dollar and yuan funds". Nikkei Asia. Archived from the original on 30 May 2021. Retrieved 30 May 2021.
- ^ "Form ADV" (PDF). SEC. Archived (PDF) from the original on 24 November 2022. Retrieved 24 November 2022.
- ^ a b c d e f g Reale, Hannah (18 July 2021). "Who Is 5Y Capital?". The Wire China.
- ^ a b Ku, Larissa (22 October 2020). "Morningside Venture Capital rebrands as 5Y Capital". Archived from the original on 2 June 2021. Retrieved 30 May 2021.
- ^ a b c Chen, Lulu Yilun (18 February 2021). "Venture Firm That Made $30 Billion on Chinese Video App Plans New Fund". Bloomberg. Archived from the original on 18 February 2021. Retrieved 30 May 2021.
- ^ a b "Chinese Venture Capital Firm Morningside Venture Capital Becomes 5Y Capital -Asian Wealth Management and Asian Private Banking". Hubbis.com. 3 November 2020. Archived from the original on 2 June 2021. Retrieved 30 May 2021.
- ^ "Venture Firm That Made $30 Billion on Chinese Video App Plans New Fund". Bloomberg. 2021. Archived from the original on 18 February 2021. Retrieved 16 March 2024.
- ^ "Xiaomi backer closes $2bn worth of dollar and yuan funds". asia.nikkei.com. 2021. Archived from the original on 30 May 2021. Retrieved 30 May 2021.
- ^ Huang, Zheping (29 November 2023). "Early Xiaomi Backer to Surpass Funding Goal in Major China Test". Bloomberg News.
