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Shunwei Capital

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Shunwei Capital
Native name
順為資本
Company typePrivate
IndustryVenture Capital
Founded2011
FoundersLei Jun
Tuck Lye Koh
HeadquartersBeijing, China
ProductsInvestments
AUMUS$3 billion (2023)
Websitewww.shunwei.com
Footnotes / references
[1][2][3]

Shunwei Capital (Chinese: 順為資本; pinyin: Shùnwèi zīběn) is a Beijing-based venture capital firm founded in 2011.[1][3] It was founded by Lei Jun (the founder and CEO of Xiaomi) and Tuck Lye Koh.[1][3] The firm focuses on investing in the technology sector in China as well as other countries such as India and Indonesia.[4][5] According to South China Morning Post, from January 2019 to May 2020, it was the ninth most active venture capital firm in China.[6]

Background

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Shunwei Capital was founded in 2011 by Lei Jun and Tuck Lye Koh.[1][2] Lei was previously the CEO of Kingsoft until 2007, as well as founder of Xiaomi in 2010.[1][3][2] Meanwhile, Koh was a Singaporean who worked in China for GIC and C.V. Starr Investment Advisors dealing with technology investments.[1]

The firm provides growth capital to internet and technology companies mainly in China but also in other countries such as India and Indonesia.[7][5] Investments have been made by the firm in telecommunications, digital media, video games, Rural Internet, and financial technology sectors.[8] The company's notable investments include ByteDance, Kuaishou, Shein, Nio, IQIYI, Xpeng Motors, Kanzhun Limited, Webull andCloudWalk Technology. [2] Non-Chinese investments include Koo and Zomato.[4] However due to tensions between China and India resulting from the 2020–2021 China–India skirmishes, Shunwei has divested its positions and withdrawn its plans for India. [4]

Investors of the firm include sovereign wealth funds, funds of funds, university endowment funds, and family offices.[8]

Shunwei Capital's name comes from a Chinese idiom (順勢而為) that means "to leverage a trend to achieve greatness".[5]

References

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  1. ^ a b c d e f Flannery, Russell. "China Optimism, Xiaomi Ties Help Shunwei CEO Debut On 2020 Forbes Midas List". Forbes. Archived from the original on 2 June 2021. Retrieved 29 May 2021.
  2. ^ a b c d Apostoaie, Ella (30 April 2023). "Who is Shunwei Capital?". The Wire China. Archived from the original on 1 March 2024. Retrieved 21 June 2024.
  3. ^ a b c d Wu, Julianna (21 August 2020). "BIZ IN GRAPHICS | Meet Lei Jun: the 'Steve Jobs of China' who founded Xiaomi". KrASIA. Archived from the original on 3 June 2021. Retrieved 29 May 2021.
  4. ^ a b c "Chinese investors lose out in Indian tech IPO boom". Rest of World. 7 September 2021. Archived from the original on 28 November 2022. Retrieved 21 June 2024.
  5. ^ a b c "China experience more relevant to India, Indonesia than US: Shunwei's Tuck Lye Koh". DealStreetAsia. Archived from the original on 2 June 2021. Retrieved 29 May 2021.
  6. ^ "China Internet Report" (PDF). July 2020. p. 10. Archived from the original (PDF) on 9 February 2023. Retrieved 25 June 2023. Number of Investments in China (Jan 2019–May 2020)
  7. ^ Gooptu, Biswarup. "Shunwei Capital, Xiaomi continue to bet big on Indian startups". The Economic Times. Archived from the original on 2 June 2021. Retrieved 29 May 2021.
  8. ^ a b "Shunwei Capital receives US$1.21B in latest fundraising". www.spglobal.com. Archived from the original on 2 June 2021. Retrieved 29 May 2021.
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