Shunwei Capital
{{Short description|China-based venture capital firm}}
{{Use dmy dates|date=December 2023}}
{{Infobox company
| name = Shunwei Capital
| native_name = 顺为资本
| logo = Shunwei Capital.png
| logo_size = 100px
| type = Private
| industry = Venture Capital
| predecessor =
| foundation = 2011
| founders = Lei Jun
Tuck Lye Koh
| products = Investments
| aum = US$3 billion (2023)
| footnotes = {{Cite web|last=Flannery|first=Russell|title=China Optimism, Xiaomi Ties Help Shunwei CEO Debut On 2020 Forbes Midas List|url=https://www.forbes.com/sites/russellflannery/2020/04/14/china-optimism-xiaomi-ties-help-shunwei-ceo-debut-on-2020-forbes-midas-list/|access-date=29 May 2021|website=Forbes|language=en|archive-date=2 June 2021|archive-url=https://web.archive.org/web/20210602212500/https://www.forbes.com/sites/russellflannery/2020/04/14/china-optimism-xiaomi-ties-help-shunwei-ceo-debut-on-2020-forbes-midas-list/|url-status=live}}{{cite web |last1=Apostoaie |first1=Ella |title=Who is Shunwei Capital? |url=https://www.thewirechina.com/2023/04/30/who-is-shunwei-capital/ |website=The Wire China |date=30 April 2023 |access-date=21 June 2024 |archive-date=1 March 2024 |archive-url=https://web.archive.org/web/20240301214723/https://www.thewirechina.com/2023/04/30/who-is-shunwei-capital/ |url-status=live }}{{cite web |last1=Wu |first1=Julianna |title=BIZ IN GRAPHICS {{!}} Meet Lei Jun: the 'Steve Jobs of China' who founded Xiaomi |url=https://kr-asia.com/biz-in-graphics-meet-lei-jun-the-steve-jobs-of-china-who-founded-xiaomi |website=KrASIA |language=en |date=21 August 2020 |access-date=29 May 2021 |archive-date=3 June 2021 |archive-url=https://web.archive.org/web/20210603023322/https://kr-asia.com/biz-in-graphics-meet-lei-jun-the-steve-jobs-of-china-who-founded-xiaomi |url-status=live }}
| homepage = {{URL|https://www.shunwei.com}}
}}
Shunwei Capital ({{Zh|c=|p=Shùnwèi zīběn|s=顺为资本}}) is a Beijing-based venture capital firm founded in 2011. It was founded by Lei Jun (the founder and CEO of Xiaomi) and Tuck Lye Koh. The firm focuses on investing in the technology sector in China as well as other countries such as India and Indonesia.{{Cite web |date=2021-09-07 |title=Chinese investors lose out in Indian tech IPO boom |url=https://restofworld.org/2021/chinese-investors-lose-out-in-indian-tech-ipo-boom/ |access-date=2024-06-21 |website=Rest of World |language=en-US |archive-date=28 November 2022 |archive-url=https://web.archive.org/web/20221128034107/https://restofworld.org/2021/chinese-investors-lose-out-in-indian-tech-ipo-boom/ |url-status=live }}{{cite web |title=China experience more relevant to India, Indonesia than US: Shunwei's Tuck Lye Koh |url=https://www.dealstreetasia.com/stories/shunweis-tuck-lye-koh-170939/ |website=DealStreetAsia |access-date=29 May 2021 |archive-date=2 June 2021 |archive-url=https://web.archive.org/web/20210602214724/https://www.dealstreetasia.com/stories/shunweis-tuck-lye-koh-170939/ |url-status=live }}
According to South China Morning Post, from January 2019 to May 2020, it was the ninth most active venture capital firm in China.{{Cite web |date=July 2020 |title=China Internet Report |url=http://www.invest-data.com/eWebEditor/uploadfile/2020073009440911236297.pdf |access-date=25 June 2023 |archive-url=https://web.archive.org/web/20230209141150/http://www.invest-data.com/eWebEditor/uploadfile/2020073009440911236297.pdf |archive-date=9 February 2023 |page=10 |quote=Number of Investments in China (Jan 2019{{ndash}}May 2020)}}
Background
Shunwei Capital was founded in 2011 by Lei Jun and Tuck Lye Koh. Lei was previously the CEO of Kingsoft until 2007, as well as founder of Xiaomi in 2010. Meanwhile, Koh was a Singaporean who worked in China for GIC and C.V. Starr Investment Advisors focusing on technology investments. From August 2006 to May 2008, Tuck Lye Koh served as a director of Kingsoft and Vice President of GIC Special Investments (Beijing) Company Ltd., responsible for private investments in Greater China.{{cite news|author=黄春蕊 |title=捕捉投资风口,许达来与顺为资本的顺势之旅 |url=https://www.takungpao.com/tech/internet/2024/1212/1040447.html |url-status=live |newspaper=大公网 |location=HongKong |accessdate=2024-12-12}}
The firm provides growth capital to internet and technology companies mainly in China but also in other countries such as India and Indonesia.{{cite news |last1=Gooptu |first1=Biswarup |title=Shunwei Capital, Xiaomi continue to bet big on Indian startups |url=https://economictimes.indiatimes.com/small-biz/startups/shunwei-capital-xiaomi-continue-to-bet-big-on-indian-startups/articleshow/74011506.cms?from=mdr |url-status=live |archive-url=https://web.archive.org/web/20210602215404/https://economictimes.indiatimes.com/small-biz/startups/shunwei-capital-xiaomi-continue-to-bet-big-on-indian-startups/articleshow/74011506.cms?from=mdr |archive-date=2 June 2021 |access-date=29 May 2021 |newspaper=The Economic Times}} Investments have been made by the firm in telecommunications, digital media, video games, Rural Internet, and financial technology sectors.{{Cite web|title=Shunwei Capital receives US$1.21B in latest fundraising|url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/hhzCHSl90dYiPU0MG_0BqQ2|access-date=29 May 2021|website=www.spglobal.com|language=en-us|archive-date=2 June 2021|archive-url=https://web.archive.org/web/20210602213149/https://www.spglobal.com/marketintelligence/en/news-insights/trending/hhzCHSl90dYiPU0MG_0BqQ2|url-status=live}} Its notable investments include ByteDance, Kuaishou, Shein, Nio, IQIYI, Xpeng Motors, Kanzhun Limited, Webull and CloudWalk Technology. Non-Chinese investments include Koo and Zomato.
Due to tensions between China and India resulting from the 2020–2021 China–India skirmishes, Shunwei divested its positions and withdrew its plans for India.
Investors of the firm include sovereign wealth funds, funds of funds, university endowment funds, and family offices.
Shunwei Capital's name comes from a Chinese idiom (順勢而為) that means "to leverage a trend to achieve greatness".
References
{{reflist}}
External links
- {{official website|https://www.whuenwi.com}}
{{Private equity and venture capital}}
{{authority control}}
Category:Chinese companies established in 2011
Category:Financial services companies established in 2011