16 seed funds back Shanghai founders in 2026. Most money now chases AI and hard tech. State funds reach down to seed, as US dollars pull back.
Shanghai has a deep institutional seed market where funds write the first big cheques that set a young company on its way. AI and hard tech now take the bulk of the money, and other sectors are left to fight over a much thinner slice.
US dollar funds have pulled back, so RMB and state money are stepping in to fill the gap they left behind. Cheques typically run from US$500K to US$5M, though the star AI rounds can run far larger than that band suggests.
Seed rounds in this market are won on speed and on clean, well-organised data that a fund can trust at a glance. Ellty keeps all your files in one tracked room, so every fund sees the same current numbers and you see who is paying attention.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Yunqi Partners | Seed / early VC | US$1M-$5M | Enterprise, deep tech, AI | yunqi.vc |
| Linear Capital | Seed VC | US$1M-$5M | AI, data, frontier tech | linear.vc |
| 5Y Capital | Early-stage VC | US$1M-$8M | AI, life sciences, consumer | 5ycap.com |
| Sky9 Capital | Seed / early VC | US$1M-$5M | AI, semis, deep tech, biotech | sky9capital.com |
| Lanchi Ventures | Seed / Series A VC | US$1M-$5M | AI apps, robotics | lanchiventures.com |
| Vision Plus Capital | Early-stage VC | US$1M-$5M | Frontier tech, AI, consumer | visionpluscapital.com |
| NewMargin Ventures | Early-stage VC | ~US$3.8M | Tech, advanced mfg, life science | Shanghai VC |
| Genesis Capital | Early-stage VC | US$1M-$5M | Tech-enabled consumer, AI | gcfunds.com |
| Decheng Capital | Seed health VC | US$1M-$10M | Biopharma, diagnostics, devices | decheng.com |
| Northern Light VC | Early-stage VC | US$1M-$5M | TMT, deep tech, healthcare | nlvc.com |
| Eight Roads Ventures China | Early-stage VC (Fidelity) | US$1M-$10M | Enterprise, fintech, AI, health | eightroads.com |
| Vertex Ventures China | Early-stage VC | US$1M-$5M | Deep tech, robotics, AI, health | vertexholdings.com |
| Qiming Venture Partners | Early-stage VC | US$1M-$5M | AI, semis, enterprise, health | qimingvc.com |
| Pudong AI Seed Fund | State seed fund | US$42K-$700K | AI, large models, robotics | Shanghai state fund |
| GL Ventures x Pudong | State co-fund | Up to US$5M | AI tech, AI applications | glventures.com.cn |
| National AI Industry Fund | National state fund | Via sub-funds | AI, large models, semis | Shanghai state fund |
Keep your seed data room ready for every fund
Seed funds move fast and check your numbers hard. Ellty logs every view so you know who is serious before the call.
Start free 14-day trialWhat a seed investor backs
A seed investor backs early proof rather than just an idea, looking for first users and a credible plan to reach more of them. They write the first institutional cheque, and most run a real venture capital process before they commit.
They study your team, your traction, and the size of your market in detail, so a clean due diligence file does a lot of the persuading for you. Ellty gives each fund one tracked link to your data, and you get to see exactly who read your deck first and how closely.
The fund will use flexible methods, equity, convertible bonds, and invest-first-then-equity, to support the rapid launch of these projects.
16 Shanghai seed investors
1. Yunqi Partners
Yunqi backs enterprise and deep-tech founders early.
Recent Activity: An early MiniMax believer in 2021
Sector Focus: Enterprise, deep tech, AI
Stage Focus: Angel, seed
Check Size: US$1M-$5M
Location: Shanghai
Website: yunqi.vc
2. Linear Capital
Linear is a Shanghai seed fund for AI and data.
Recent Activity: Deployed over US$100M into AI in 2025
LinkedIn: Linear Capital LinkedIn
Sector Focus: AI, data, frontier tech
Stage Focus: Seed, Series A
Check Size: US$1M-$5M
Location: Shanghai
Website: linear.vc
3. 5Y Capital
5Y Capital backs AI and life-science founders.
Recent Activity: On track to top a US$700M new fund
Sector Focus: AI, life sciences, consumer
Stage Focus: Seed, Series A
Check Size: US$1M-$8M
Location: Shanghai
Website: 5ycap.com
4. Sky9 Capital
Sky9 backs AI and deep-tech startups at seed.
Recent Activity: An early backer of Moonshot AI
LinkedIn: Sky9 Capital LinkedIn
Sector Focus: AI, semis, deep tech, biotech
Stage Focus: Seed, early
Check Size: US$1M-$5M
Location: Shanghai
Website: sky9capital.com
5. Lanchi Ventures
Lanchi is an AI-first seed and Series A fund.
Recent Activity: Closed a ~US$560M AI-focused fund in 2026
Sector Focus: AI apps, robotics
Stage Focus: Seed, Series A
Check Size: US$1M-$5M
Location: Singapore / China
Website: lanchiventures.com
6. Vision Plus Capital
Vision Plus backs early frontier-tech founders.
Recent Activity: An early fund near US$2B in assets
Sector Focus: Frontier tech, AI, consumer
Stage Focus: Seed, Series A
Check Size: US$1M-$5M
Location: Shanghai
Website: visionpluscapital.com
Share one link with every Shanghai seed fund
Ellty shows when Linear or Sky9 opens your deck. Follow up with each fund at the right time.
Start free 14-day trial7. NewMargin Ventures
NewMargin is a veteran Shanghai tech and seed fund.
Recent Activity: A veteran Shanghai seed and tech fund
LinkedIn: NewMargin Ventures LinkedIn
Sector Focus: Tech, advanced mfg, life science
Stage Focus: Seed, Series A
Check Size: ~US$3.8M
Location: Shanghai
Website: Shanghai VC
8. Genesis Capital
Genesis backs early-stage tech across China.
Recent Activity: An early-stage tech investor in China
Sector Focus: Tech-enabled consumer, AI
Stage Focus: Seed, early
Check Size: US$1M-$5M
Location: China
Website: gcfunds.com
9. Decheng Capital
Decheng is a Shanghai seed-stage health fund.
Recent Activity: Raising a ~US$700M life-science fund
Sector Focus: Biopharma, diagnostics, devices
Stage Focus: Pre-seed to early
Check Size: US$1M-$10M
Location: Shanghai
Website: decheng.com
10. Northern Light VC
Northern Light backs deep tech from the seed stage.
Recent Activity: A deep-tech seed fund across China
Sector Focus: TMT, deep tech, healthcare
Stage Focus: Seed, early
Check Size: US$1M-$5M
Location: Shanghai / Beijing
Website: nlvc.com
11. Eight Roads Ventures China
Eight Roads is Fidelity's China early-stage arm.
Recent Activity: Fidelity's China tech and health arm
LinkedIn: Eight Roads LinkedIn
Sector Focus: Enterprise, fintech, AI, health
Stage Focus: Seed, early
Check Size: US$1M-$10M
Location: Shanghai
Website: eightroads.com
12. Vertex Ventures China
Vertex China backs deep tech and robotics early.
Recent Activity: Backed chip firm Horizon Robotics
Sector Focus: Deep tech, robotics, AI, health
Stage Focus: Seed, early
Check Size: US$1M-$5M
Location: Beijing / Shanghai
Website: vertexholdings.com
13. Qiming Venture Partners
Qiming backs AI, chips, and health at the early stage.
Recent Activity: Closed a RMB 6.5B fund in 2023
LinkedIn: Qiming Venture Partners LinkedIn
Sector Focus: AI, semis, enterprise, health
Stage Focus: Seed, Series A
Check Size: US$1M-$5M
Location: Shanghai
Website: qimingvc.com
14. Pudong AI Seed Fund
This is Shanghai's state AI seed fund.
Recent Activity: A RMB 2B state AI seed fund from 2025
Sector Focus: AI, large models, robotics
Stage Focus: Seed
Check Size: US$42K-$700K
Location: Shanghai
Website: Shanghai state fund
15. GL Ventures x Pudong
This co-fund seeds a Zhangjiang AI town.
Recent Activity: A RMB 2B fund for a Zhangjiang AI town
Sector Focus: AI tech, AI applications
Stage Focus: Seed, early
Check Size: Up to US$5M
Location: Shanghai
Website: glventures.com.cn
16. National AI Industry Fund
This national state fund seeds AI across China.
Recent Activity: A ~RMB 60B state fund from 2025
Sector Focus: AI, large models, semis
Stage Focus: Early, strategic
Check Size: Via sub-funds
Location: Shanghai
Website: Shanghai state fund
Seed in the AI era
Most Shanghai seed money chases AI now, with robots and large models leading the field and setting the pace for everything around them. A few star founders raise huge seeds on reputation alone, while everyone else has to make do with far smaller cheques.
A non-AI startup has to work harder in this market and show a clear edge that funds simply cannot ignore. A clean early story matters more than ever, and strong investor relations help you keep that story consistent across every conversation.
Ellty keeps your early data ready so you can move the moment a fund leans in. For a closer look at one busy sector, see our Shanghai healthtech investors guide too.
State money reaches seed
The state now funds seed-stage startups directly, and Shanghai runs big AI funds that reach all the way down to a company's first round. Pudong writes small, early cheques, and national money flows into the same pool to back promising teams sooner.
A state-backed round can draw private VCs in behind it, since it signals quality and a measure of safety to the wider market. These deals do need careful control, so use granular permissions on each file to share only what each party should see.
Ellty shows who opened each file and exactly when they did it, all from one place. From there you quickly learn which fund is serious early, long before they say so out loud.
From seed to a Series A
A seed round buys you time to find product-market fit, while a Series A wants to see real, repeatable growth behind that fit. Chinese Series A is more selective now, and strong metrics are what ultimately win the round.
Start that next raise before you run low on runway, because a strong seed sets up the conversation that follows. Read our due diligence for investors guide so you know exactly what each fund will ask before they ask it.
Learn how to prepare for due diligence early, while you still have the time to fix any gaps you find. Ellty logs who opened each file and when, so you walk into every meeting knowing where the real interest sits.
How to pitch a Shanghai seed investor
Show early proof, not just an idea.
- 1.Show early proof, not just an idea.Seed funds want to see first users and early signs of demand. Bring real numbers that show people already use what you built.
- 2.Bring a clean cap table and metrics.Tidy, well-ordered files speed the round and build trust fast. A fund that can verify your numbers quickly is a fund that can say yes sooner.
- 3.Share one Ellty link to your data room.Give each fund a single tracked link instead of scattered email attachments. You then know who opens which file and how long they spend inside.
- 4.Follow up the day a fund digs in.Ellty shows you the exact moment a partner starts reading closely. Reach out while your deck is still open on their screen.
How Ellty helps you land a seed investor in Shanghai
You've shortlisted your Shanghai seed funds already. Set up a data room before the first call.
- 1.Upload your deck, cap table, and metrics.Set access per fund or per partner.
- 2.Share one trackable link with each fund.Each fund gets its own tracked link.
- 3.Watch opens and follow up at the right time.Use Ellty analytics to time each nudge.
Shanghai seed investor questions
- Linear, Sky9, and Yunqi lead seed. State funds back seed too.
- Most run US$0.5M to US$5M in 2026. Star AI rounds run far larger.
- Mostly AI, robots, and hard tech. Other sectors get less.
- Yes, Pudong runs an AI seed fund. Most goes to early AI.
- Early proof, a team, and a market. A clean cap table and metrics.
- Before your very first seed call. Track who opens your deck.
