With 83 deals, Sequoia Capital China was the country’s most active investor in 2020

Photo: DEALSTREETASIA

Sequoia Capital China was the most active investor in the country’s startups last year, with 83 deals in its kitty. Of these, it was the lead investor in at least 36 deals, as reported in DealStreetAsia’s China Deal Review: Q4 2020 report.

This does not include the deals of Sequoia China Seed Fund or Sequoia Capital.

In fact, Sequoia Capital China’s deal activity was head and shoulders above that of Matrix Partners China — the second most active investor that sealed 46 deals in the year.

Sequoia Capital China

Source: DealStreetAsia R&A report

Even as Chinese startups raised $56.2 billion across 1,193 transactions, the total value of all Sequoia Capital China deals aggregated to over $12.9 billion in 2020.

The 36 deals that the PE firm led amounted to $3.2 billion in value, of which 16% was in the Series E stage.

Sequoia Capital China

Among the big-ticket deals, Sequoia Capital China was a lead investor (along with Fidelity, and SoftBank Vision Fund) in the $1.7 billion fundraising round by Full Truck Alliance Group in November. It also led Lalamove’s $515 million Series E round in December.

Expand Table

Fund raisings where Sequoia Capital China was the lead investor in 2020

StartupInvestment size (Million $)
Full Truck Alliance Group/Manbang Group1700
Lalamove (Huolala)515
LandSpace175
Junlebao171
Kuaidian100
Shukun91.3
Yaoyanshe86
LP Pharmaceuticals (Xiamen)72
Viewtrix/Yunyinggu Technology45
Shanghai Encoo Technology30
Naxions30
BizSeer22
Neurophth18
Tungee17
OriGynMED15
METiS Pharmaceuticals15
QL Biopharm14.9
Sunyur Network / Beijing Sunyur Network Technology14
Mech-Mind Robotics14
AccuMedical14
Pudu Technology (PuduTech)14
Aikangte14
Saturnbird Coffee14
Ubras14
Recurrent AI12
Buffalo Lab10
Taos Data10
Syrius10
WakeDtate10
Tezign10
Youdi1.4
Xmirror1.4
Yikuai Yiyao/onekdrug.com1.4
Yunjing (Narwal) Intelligence Technology (Dongguan)
Weisheng Qiwei
PackGene Biotech

Twenty-six of Sequoia Capital China’s portfolio firms also had their IPOs in 2020. Among the popular ones were the US listings of KE Holdings, and Xpeng, besides the Hong Kong listings of JD Health International, and Pop Mart.

For more data on China’s fundraising in 2020, please refer to our Research & Analytics report.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.