Morningside Raises $1 Billion New USD Fund

Morningside Venture Capital has raised a new U.S. dollar fund with total capital commitment of over US$1 billion, the firm announced today.

Similar to its previously U.S. dollar funds, the new fund will continue to back Chinese early-stage tech start-ups in the social networking, enterprise services, artificial intelligence, biotech, healthcare, education, e-commerce, mobility and housing-related industries.

The new fund secured capital from endowment funds, family offices, pension funds, sovereign wealth funds, fund-of-funds and foundations.

"At the ten year anniversary of our firm, we have raised over US$1 billion, reflecting the continued support from our investors," said Liu Qin, founding partner of Morningside. "In the current global economic and market dislocations, this is a demonstration of how global capital is still positive toward China’s economic growth…"

Morningside has previously invested in Sohu, Ctrip, UCWeb, YY Inc,, Huami Technology, Huya, Xiaomi, Kuaishou.

It’s portfolios also include artificial intelligence unicorn SenseTime and Horizon Robotics, EV maker Xiaopeng Motor, as well as Chinese Airbnb, Xiaozhu.