China has increased its presence on the 2024 Forbes Midas List, with 16 members on the list this year, up by one from the previous year. The country, which includes both mainland-based and Hong Kong-based investors, ranked second to the United States this year among the world’s top venture investors. Despite a decline in the country’s stock benchmark index in the past year due to economic uncertainties and global tensions, China’s strong economy and talent pool have continued to attract venture capital investors.
Long-time listee Neil Shen, managing partner of HongShan, dropped to No. 3 this year from No. 1 in 2023. His successful investments include TikTok parent ByteDance and online fashion site Shein. Two China-based investors who ranked in the top 10 last year, Richard Liu and Zhen Zhang, saw a decrease in their rankings this year. Liu, from 5Y Capital, fell to No. 13, while Zhang of Gaorong Capital dropped to No. 87. Despite this, three women from China made it to the list this year, including Anna Fang, Nisa Leung, and Annabelle Yu Long.
5Y Capital led the pack with the most listees from one firm this year, with Richard Liu, Fisher Zhang, and Elwin Yuan making it to the list. Other China-based investors on the list included Hurst Lin from DCM, Yi Cao from Source Code Capital, Tuck Lye Koh from Shunwei, Jixun Foo from Granite Asia, David Su from Matrix, David Lindfors from DST, and Justin Niu from IDG Capital. These investors have made successful investments in companies like video platform Kuaishou and have contributed to China’s growing venture industry.
China’s success in the venture capital industry can be attributed to its growing economy and strong talent pool. Despite facing challenges like economic uncertainties and global tensions, Chinese investors have continued to excel in the venture capital space. The increasing number of Chinese investors on the Forbes Midas List showcases the country’s growing importance in the global venture capital landscape. With successful investments in popular companies like ByteDance and Shein, Chinese investors are making a significant impact on the industry.
The presence of women investors on the Forbes Midas List from China highlights the increasing diversity in the country’s venture capital industry. Anna Fang, Nisa Leung, and Annabelle Yu Long have proven themselves as successful investors, further adding to the country’s reputation in the venture capital space. With more Chinese investors making it to the list this year, it is evident that China’s venture capital industry is on a growth trajectory despite the challenges it faces. The success of Chinese investors like Neil Shen, Richard Liu, and Zhen Zhang underscores the country’s potential as a key player in the global venture capital landscape.
