5Y Capital

5Y Capital is a private equity and venture capital firm based in Shanghai, China, focused on seed, start-up, early venture, and growth capital investments. Founded in 2008 and previously known as Morningside Venture Capital, the firm manages approximately USD 5 billion in dual-currency funds, supported by global investors such as sovereign wealth funds, family offices, and endowments. 5Y Capital primarily invests in various sectors, including healthcare, technology, fintech, media, software, life sciences, and education, with a special emphasis on medical treatment, biotechnology, and digital health. The firm seeks opportunities in China and other emerging markets across Asia and the Pacific, aiming to support entrepreneurs in building innovative companies. 5Y Capital typically makes initial investments exceeding USD 500,000 per portfolio company and operates as a subsidiary of Morningside Group, which has been active in venture capital investments since 1992.

Ka Chang

Managing Director

Zhe Chen

Managing Director

Peter Chen

Managing Director

Yu Cheng

Partner

Lu Huang

Director

Victor Jin

Managing Director

Jiangyun Jin

Managing Director

Ted Xutian Jing

Managing Director

Levi Liu

Partner

Qin Liu

Co-Founder, Investment Director and Board Member

Richard Liu

Founding Partner

Stephanie O'Brien

Investment Professional

Ken Shi

Founding Partner

Yi Sun

Senior Associate

Jerry Tong

Senior Associate

Yunhong Wei

Investor

Yaopeng Xing

Investor

Patricia Zhuoya Yang

Investor

Tony Yeung

Managing Director

Cloris You Youdan

Managing Director

Elwin Yuan

Partner

Yuan Ye

Partner

Fisher Zhang

Partner

Fei Zhang

Partner

Bo Zhang

Managing Director

Past deals in Music Streaming

Medrhythms

Series B in 2021
MedRhythms Inc. is a neuro-rehabilitation company that specializes in neurologic music therapy, utilizing sensors, music, and artificial intelligence to enhance therapeutic outcomes. Founded in 2015 and headquartered in Portland, Maine, the company focuses on patients affected by conditions such as traumatic brain injury, stroke, Parkinson’s disease, and Huntington’s disease. MedRhythms develops evidence-based interventions aimed at improving walking, speech, cognitive abilities, and overall functional outcomes through the intersection of music and neuroscience. By employing innovative technology and direct brain stimulation techniques, the company aims to provide effective rehabilitation solutions that leverage the therapeutic benefits of music for neurological recovery.

Kuaidian Yuedu

Series C in 2020
Kuaidian Yuedu offers a story reading app.

Kuaidian Yuedu

Series B in 2018
Kuaidian Yuedu offers a story reading app.

Kuaidian Yuedu

Series B in 2018
Kuaidian Yuedu offers a story reading app.

Thunder Stone Technology

Series B in 2018
Beijing ThunderStone Technology Co., Ltd. is the largest karaoke system supplier in China. It has 40% of the market share. China is one of the largest and matured karaoke markets in the world. A typical system consists of one or more VOD servers which based on Windows 2000 server edition and multiple STBs in karaoke rooms. They are all connected to the server or servers via Ethernet. The server is efficient and robust. A single server can support up to 60 DVD quality videos and audio streams.

Kuaidian Yuedu

Series A in 2017
Kuaidian Yuedu offers a story reading app.

Huya

Series A in 2017
Huya Inc. operates a leading game live streaming platform in China, facilitating interactive broadcasts that allow real-time interaction between broadcasters and viewers. Founded in 2011 and headquartered in Guangzhou, Huya provides a diverse array of live streaming content, encompassing a vast library of approximately 3,800 games across various genres, including esports, mobile, and console games, as well as entertainment categories like talent shows and online theater. Additionally, Huya runs Nimo TV, which focuses on game streaming in Southeast Asia and Latin America. The company also engages in online advertising, marketing services, software development, and internet value-added services. As a subsidiary of Tencent, Huya benefits from the support of one of the largest technology companies in China, with Tencent holding a significant equity stake and voting power.

Musical.Ly

Series C in 2016
Musical.ly, founded in 2014 by Alex Zhu and Luyu Yang, was a video social network that enabled users to create, share, and discover short videos, primarily catering to a teenage audience. The platform allowed users to express themselves through various forms of creativity, including singing, dancing, comedy, and lip-syncing, with videos limited to 15 seconds. Since its launch, Musical.ly gained significant popularity, becoming the top free app in the iOS App Store in 20 countries, including the United States. The app fostered a global community for content creators and users alike. In 2017, Musical.ly was acquired by a subsidiary of ByteDance, and in 2018, it was merged into TikTok, further expanding its reach and influence in the social media landscape.

Musical.Ly

Series C in 2016
Musical.ly, founded in 2014 by Alex Zhu and Luyu Yang, was a video social network that enabled users to create, share, and discover short videos, primarily catering to a teenage audience. The platform allowed users to express themselves through various forms of creativity, including singing, dancing, comedy, and lip-syncing, with videos limited to 15 seconds. Since its launch, Musical.ly gained significant popularity, becoming the top free app in the iOS App Store in 20 countries, including the United States. The app fostered a global community for content creators and users alike. In 2017, Musical.ly was acquired by a subsidiary of ByteDance, and in 2018, it was merged into TikTok, further expanding its reach and influence in the social media landscape.

Musical.Ly

Series B in 2015
Musical.ly, founded in 2014 by Alex Zhu and Luyu Yang, was a video social network that enabled users to create, share, and discover short videos, primarily catering to a teenage audience. The platform allowed users to express themselves through various forms of creativity, including singing, dancing, comedy, and lip-syncing, with videos limited to 15 seconds. Since its launch, Musical.ly gained significant popularity, becoming the top free app in the iOS App Store in 20 countries, including the United States. The app fostered a global community for content creators and users alike. In 2017, Musical.ly was acquired by a subsidiary of ByteDance, and in 2018, it was merged into TikTok, further expanding its reach and influence in the social media landscape.

Musical.Ly

Series B in 2015
Musical.ly, founded in 2014 by Alex Zhu and Luyu Yang, was a video social network that enabled users to create, share, and discover short videos, primarily catering to a teenage audience. The platform allowed users to express themselves through various forms of creativity, including singing, dancing, comedy, and lip-syncing, with videos limited to 15 seconds. Since its launch, Musical.ly gained significant popularity, becoming the top free app in the iOS App Store in 20 countries, including the United States. The app fostered a global community for content creators and users alike. In 2017, Musical.ly was acquired by a subsidiary of ByteDance, and in 2018, it was merged into TikTok, further expanding its reach and influence in the social media landscape.

Lizhi FM

Series C in 2015
Guangzhou Lizhi Network Technology Co., Ltd. operates an interactive audio community and entertainment platform in China, primarily through its Lizhi app, which allows users to record, edit, store, and share their voices on mobile devices. Founded in 2010 and based in Guangzhou, the company focuses on enabling individuals to showcase their vocal talents and connect through audio content. Lizhi provides a variety of services, including podcasts, audio live streaming, and other interactive features, fostering a vibrant community of audio content creators. The company has also formed partnerships, such as with Xpeng Motors, to integrate its audio offerings into in-car systems. Lizhi aims to create a global audio community that transcends cultural boundaries, promoting user engagement and diverse entertainment experiences through voice.

Lizhi FM

Series C in 2015
Guangzhou Lizhi Network Technology Co., Ltd. operates an interactive audio community and entertainment platform in China, primarily through its Lizhi app, which allows users to record, edit, store, and share their voices on mobile devices. Founded in 2010 and based in Guangzhou, the company focuses on enabling individuals to showcase their vocal talents and connect through audio content. Lizhi provides a variety of services, including podcasts, audio live streaming, and other interactive features, fostering a vibrant community of audio content creators. The company has also formed partnerships, such as with Xpeng Motors, to integrate its audio offerings into in-car systems. Lizhi aims to create a global audio community that transcends cultural boundaries, promoting user engagement and diverse entertainment experiences through voice.

Xunlei

Series E in 2014
Xunlei Limited operates an Internet platform for digital media content in the People's Republic of China. The company’s platform is based on cloud technology that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; mobile acceleration plug-in, which provides mobile device users with benefits of download speed acceleration and download success rate improvements; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel. The company also provides Mobile Xunlei, a mobile application that allows users to search, download, and consume digital media content on their mobile devices; Xunlei Media Player, which supports online and offline play of digital media content, as well as simultaneous play of digital media content while it is being transmitted by Xunlei Accelerator; online games through online game Website and mobile app; live video streaming and online advertising services; and cloud computing and other Internet value-added services. As of December 2019, its platform had approximately 88.3 million monthly unique visitors. The company was formerly known as Giganology Limited and changed its name to Xunlei Limited in January 2011. Xunlei Limited was founded in 2003 and is based in Shenzhen, the People's Republic of China.

Xunlei

Series F in 2014
Xunlei Limited operates an Internet platform for digital media content in the People's Republic of China. The company’s platform is based on cloud technology that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; mobile acceleration plug-in, which provides mobile device users with benefits of download speed acceleration and download success rate improvements; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel. The company also provides Mobile Xunlei, a mobile application that allows users to search, download, and consume digital media content on their mobile devices; Xunlei Media Player, which supports online and offline play of digital media content, as well as simultaneous play of digital media content while it is being transmitted by Xunlei Accelerator; online games through online game Website and mobile app; live video streaming and online advertising services; and cloud computing and other Internet value-added services. As of December 2019, its platform had approximately 88.3 million monthly unique visitors. The company was formerly known as Giganology Limited and changed its name to Xunlei Limited in January 2011. Xunlei Limited was founded in 2003 and is based in Shenzhen, the People's Republic of China.

Miaopai

Series B in 2013
Miaopai develops a mobile based application for sharing short videos. Its service now has 70 million daily active users. Miaopai produces mobile device applications. It offers software products that allow users to customize videos and pictures. Chan Sheng and Han Kun founded Xuanyixia Technology in 2011 that later became Yixia Tech and then Miaopai. Its headquarters is in Beijing in China.

Miaopai

Series A in 2012
Miaopai develops a mobile based application for sharing short videos. Its service now has 70 million daily active users. Miaopai produces mobile device applications. It offers software products that allow users to customize videos and pictures. Chan Sheng and Han Kun founded Xuanyixia Technology in 2011 that later became Yixia Tech and then Miaopai. Its headquarters is in Beijing in China.

Lizhi FM

Series B in 2012
Guangzhou Lizhi Network Technology Co., Ltd. operates an interactive audio community and entertainment platform in China, primarily through its Lizhi app, which allows users to record, edit, store, and share their voices on mobile devices. Founded in 2010 and based in Guangzhou, the company focuses on enabling individuals to showcase their vocal talents and connect through audio content. Lizhi provides a variety of services, including podcasts, audio live streaming, and other interactive features, fostering a vibrant community of audio content creators. The company has also formed partnerships, such as with Xpeng Motors, to integrate its audio offerings into in-car systems. Lizhi aims to create a global audio community that transcends cultural boundaries, promoting user engagement and diverse entertainment experiences through voice.

Yixia.com

Seed Round in 2012
Yixia.com, founded in 2011 and based in Beijing, China, specializes in mobile video applications that allow users to create, share, and engage with short videos. The company offers several products, including Miaopai, Bobo Video, and Xiaokaxiu, which provide multimedia services for recording and editing videos. These applications enable users to express themselves creatively, construct narratives, and enjoy shared experiences through video content.

JOYY

Series C in 2009
JOYY Inc. is a social media and interactive communication platform based in China, operating various live streaming and short-form video services. Its key offerings include YY Live, a comprehensive platform for music, dance, and talk shows; Bigo Live, which allows users to share live moments; and Huya, a gaming live streaming service. Additionally, JOYY operates Likee, a platform for creating and sharing short videos, as well as imo, a video communication tool, and Hago, a casual gaming social platform that incorporates live streaming and chat features. Founded in 2005 and headquartered in Guangzhou, JOYY engages users in real-time online activities through voice, text, and video, and facilitates virtual currency transactions for various interactive experiences. The company was previously known as YY Inc. until its name change in December 2019.

JOYY

Series B in 2008
JOYY Inc. is a social media and interactive communication platform based in China, operating various live streaming and short-form video services. Its key offerings include YY Live, a comprehensive platform for music, dance, and talk shows; Bigo Live, which allows users to share live moments; and Huya, a gaming live streaming service. Additionally, JOYY operates Likee, a platform for creating and sharing short videos, as well as imo, a video communication tool, and Hago, a casual gaming social platform that incorporates live streaming and chat features. Founded in 2005 and headquartered in Guangzhou, JOYY engages users in real-time online activities through voice, text, and video, and facilitates virtual currency transactions for various interactive experiences. The company was previously known as YY Inc. until its name change in December 2019.

JOYY

Series B in 2008
JOYY Inc. is a social media and interactive communication platform based in China, operating various live streaming and short-form video services. Its key offerings include YY Live, a comprehensive platform for music, dance, and talk shows; Bigo Live, which allows users to share live moments; and Huya, a gaming live streaming service. Additionally, JOYY operates Likee, a platform for creating and sharing short videos, as well as imo, a video communication tool, and Hago, a casual gaming social platform that incorporates live streaming and chat features. Founded in 2005 and headquartered in Guangzhou, JOYY engages users in real-time online activities through voice, text, and video, and facilitates virtual currency transactions for various interactive experiences. The company was previously known as YY Inc. until its name change in December 2019.

JOYY

Series A in 2007
JOYY Inc. is a social media and interactive communication platform based in China, operating various live streaming and short-form video services. Its key offerings include YY Live, a comprehensive platform for music, dance, and talk shows; Bigo Live, which allows users to share live moments; and Huya, a gaming live streaming service. Additionally, JOYY operates Likee, a platform for creating and sharing short videos, as well as imo, a video communication tool, and Hago, a casual gaming social platform that incorporates live streaming and chat features. Founded in 2005 and headquartered in Guangzhou, JOYY engages users in real-time online activities through voice, text, and video, and facilitates virtual currency transactions for various interactive experiences. The company was previously known as YY Inc. until its name change in December 2019.

Xunlei

Series C in 2007
Xunlei Limited operates an Internet platform for digital media content in the People's Republic of China. The company’s platform is based on cloud technology that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; mobile acceleration plug-in, which provides mobile device users with benefits of download speed acceleration and download success rate improvements; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel. The company also provides Mobile Xunlei, a mobile application that allows users to search, download, and consume digital media content on their mobile devices; Xunlei Media Player, which supports online and offline play of digital media content, as well as simultaneous play of digital media content while it is being transmitted by Xunlei Accelerator; online games through online game Website and mobile app; live video streaming and online advertising services; and cloud computing and other Internet value-added services. As of December 2019, its platform had approximately 88.3 million monthly unique visitors. The company was formerly known as Giganology Limited and changed its name to Xunlei Limited in January 2011. Xunlei Limited was founded in 2003 and is based in Shenzhen, the People's Republic of China.

Xunlei

Series B in 2005
Xunlei Limited operates an Internet platform for digital media content in the People's Republic of China. The company’s platform is based on cloud technology that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; mobile acceleration plug-in, which provides mobile device users with benefits of download speed acceleration and download success rate improvements; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel. The company also provides Mobile Xunlei, a mobile application that allows users to search, download, and consume digital media content on their mobile devices; Xunlei Media Player, which supports online and offline play of digital media content, as well as simultaneous play of digital media content while it is being transmitted by Xunlei Accelerator; online games through online game Website and mobile app; live video streaming and online advertising services; and cloud computing and other Internet value-added services. As of December 2019, its platform had approximately 88.3 million monthly unique visitors. The company was formerly known as Giganology Limited and changed its name to Xunlei Limited in January 2011. Xunlei Limited was founded in 2003 and is based in Shenzhen, the People's Republic of China.

Xunlei

Series B in 2005
Xunlei Limited operates an Internet platform for digital media content in the People's Republic of China. The company’s platform is based on cloud technology that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; mobile acceleration plug-in, which provides mobile device users with benefits of download speed acceleration and download success rate improvements; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel. The company also provides Mobile Xunlei, a mobile application that allows users to search, download, and consume digital media content on their mobile devices; Xunlei Media Player, which supports online and offline play of digital media content, as well as simultaneous play of digital media content while it is being transmitted by Xunlei Accelerator; online games through online game Website and mobile app; live video streaming and online advertising services; and cloud computing and other Internet value-added services. As of December 2019, its platform had approximately 88.3 million monthly unique visitors. The company was formerly known as Giganology Limited and changed its name to Xunlei Limited in January 2011. Xunlei Limited was founded in 2003 and is based in Shenzhen, the People's Republic of China.
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