5Y Capital Closes on over $2 Billion for its Latest Dual-Currency Funds

12-Apr-2021 Intellasia | PR Newswire Asia | 9:00 PM Print This Post

SHANGHAI, April 12, 2021 /PRNewswire/ -- Today, 5Y Capital announced the closing of its latest fundraising in USD and RMB, totaling over $2 billion.

The new funds significantly exceeded the firm's original target and hit the hard caps in a very short time after initial launch. Investors in the new funds include both existing long-term LPs and globally well recognized new investors. The latest USD funds alone exceeded $1.7 billion, including 5Y's highly reputable early-stage venture fund and its first ever growth fund.

Over the decades, 5Y Capital has gained a wealth of experience in venture investments, identified and supported outstanding entrepreneurs from scratch and helped them achieve greatness. Today, the world offers entrepreneurs more room to grow and the possibility to take on challenges that are tougher but much more rewarding in the long run. 5Y believes with the new growth fund vehicle, it will provide all-stage and even longer-term support to great business disrupters.

Richard Liu, Founding Partner of  5Y Capital, said, "5Y's priority has always been exploring and fostering what can bring long-term impact to the society. Today, information technology is unprecedentedly penetrating into all walks of life. Cloud computing, big data and artificial intelligence have led to changes in the underlying technology architecture. The application products have been revolutionised and a new industrial upgrade has just begun. There are few entrepreneurs who are imaginative and have the ability to turn that imagination into reality. 5Y's mission is to keep looking for them and offer whatever we can to support along the way. That's how 5Y came into being."

"We are truly grateful to our existing and new investors for their strong conviction in us." said Ken Shi, Founding Partner of 5Y Capital. "Over the years, we've come up with creative ideas and ways to support the entrepreneurs at our best, and we are fortunate to have the LPs always on our side. It's with their unwavering open-mindedness, trust and support that we're able to have a longer investment horizon and more diverse investment kits to keep backing the best of the bests in the face of fierce competition both now and in the long run."

About 5Y Capital

Founded in 2008, 5Y Capital (formerly known as Morningside Venture Capital) has always been discovering, supporting and encouraging lonely entrepreneurs, with whom we not only share our vision, industry insights and expertise, but also provide spiritual and operational support. Where others see crazy ones, we see visionaries. We believe this is how we make the world a better place.

We are the first investor in Xiaomi (1810.HK) and Kuaishou (1024.HK), and have made multi-stage investments to the best globally-minded businesses, including Ctrip (NASDAQ: CTRP), UCWeb (acquired by Alibaba (NYSE: BABA)), JOYY (NASDAQ: YY), Huami (NYSE: HMI), OneSmart Education (NYSE: ONE), Huya (NYSE: HUYA), VIOMI (NASDAQ: VIOT), Kingsoft Office (688111.SH), LIZHI (NASDAQ: LIZI), Agora (NASDAQ: API), XPeng (NYSE: XPEV), WeDoctor and Pony.ai.



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