Top Venture Capitalists in Asia 2025: Riding the AI Tide with China Regaining Tech Leadership
Razor-Sharp Reboot:
In the past year, Sia's venture capital dealings have taken a hit, courtesy of China's economic disconnect with the U.S and a lethargic domestic economy. But the unexpected rise of deep-learning startup DeepSeek sparked new life and attention towards the Chinese tech sector.
This revival propelled a surge of mega Asian startups like ByteDance and Shein, resulting in 15 Asian investors gracing Forbes' 24th annual Midas List – a global roster of the top venture capitalists. With a few exceptions, most of these rip-roaring capitalists hail from China, with the lone exception of Jenny Lee from Singapore's Granite Asia.
Neil Shen, billionaire founding partner of HongShan Capital Group (HSG), continues to dominate the list, powered by his smart bets on ByteDance and the success of TikTok. HSG has been actively involved in ByteDance since 2014, when they led its Series C round, boosting the operator's valuation to $465 million. Today, ByteDance's market cap is said to exceed $300 billion, making HSG a wildly successful player in the game.
Besides ByteDance, HSG's portfolio companies have also experienced others rides on public markets. Horizon Robotics, the Chinese autonomous-driving chip developer, saw its shares soar over 80% since its Hong Kong exchange debut in October. Meanwhile, Chinese robotaxi operator Pony AI and AI drug discovery startup Xtalpi went public on the Nasdaq and Hong Kong, respectively.
Richard Liu, founding partner of 5Y Capital, ranks second among Asian investors on the Midas List. He shares the list with fellow partner Fisher Zhang. Known for backing Chinese tech titans Didi, Kuaishou, Xiaomi, and Xpeng, 5Y Capital has also invested in Horizon Robotics, Pony AI, and Xtalpi.
Granite Asia, with both Jenny Lee and Jixun Foo on the list, is the only firm with multiple venturesters on the 2025 Midas List. Granite Asia, spun off from GGV Capital in 2024, has earned accolades for its investments in Grab and Xiaomi.
Newcomers Xi Cao of Monolith and Meng Lian of IDG Capital grabbed spots on the Midas List thanks to their early investments in Unitree (a Chinese AI unicorn) and Shein, respectively. With a reported valuation of $66 billion in 2023, Shein's IPO plans are on the horizon.
Stay tuned for the 2025 Forbes Midas List, as it's expected to reveal the globe-trotting VC superstars driving innovation across the world.
- Neil Shen, hailing from HongShan Capital Group (HSG), is a significant figure in the finance world, having made smart investments in technology giants like ByteDance, which boosted its valuation to $465 million in 2014 and currently has a market cap exceeding $300 billion.
- Investing in real-estate, artificial-intelligence, and technology-driven industries is not uncommon for venture capitalists, as seen in the portfolios of companies like Horizon Robotics, Pony AI, and Xtalpi, all of which have experienced significant growth and have gone public on various markets.
- In recent years, China has emerged as a prominent player in the global venture capital landscape, with entrepreneurs such as Neil Shen from Sequoia China and Jenny Lee from IDG Capital playing a crucial role in financing ventures like ByteDance and Shein, both of which have seen tremendous success and growth.
