Shunwei Capital's co-founder, and Xiaomi CEO, Lei Jun. Credit: 小二黑说娱乐
Chinese start-ups may not have escaped the turmoil from Silicon Valley Bank’s collapse, but they still have plenty of potential sources of funding in the form of the country’s burgeoning venture capital scene. One firm that’s risen to prominence in recent years is Beijing-based Shunwei Capital, which has already helped fund the rise of companies including iQiYi, NIO, ByteDance, XPeng, and CloudWalk.
Shunwei, which has $3 billion of funds under management, has close ties with smartphone maker Xiaomi and in particular Lei Jun — a legendary figure in the Chinese tech sector sometimes referred to as the Steve Jobs of China. Lei, one of six people who launched Xiaomi in 2010, was in turn one of Shunwei's two co-founders in 2011. To this day, Xiaomi and Shunwei often co-lead funding rounds for companies.
At The Wire, we periodically showcase prominent firms investing in China. So far, we’ve looked at Huawei’s in-house VC fund, Yunfeng Capital, Hillhouse Capital, IDG C
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