Matrix Partners China
About Matrix Partners China
China-focused venture firm.
Matrix Partners China was founded in 2008 as the China affiliate of US firm Matrix Partners. Press reports name Bo Shao, David Su and David Zhang as co-founders, and Caixin also lists Ye Lee. Its first fund was US$275 million. Later funds were Fund III at $350 million (2014), Fund IV at $500 million, Fund V at $750 million (2018), Fund VI at about $1.2 billion (SEC filing, January 2021) and Fund VII at $1.6 billion. Wikipedia reports Fund VII closed on 31 July 2023. In July 2024 the China affiliate was renamed MPC (the Chinese name is 经纬创投). Public sources put assets under management at more than RMB 70 billion and cumulative investments at over 800 companies, though the sources differ on the exact figures. I did not find a public list of the individual partners who lead its AI investing.
Public sources describe the firm's recent focus as AI and intelligent robotics. On the Lounge deals desk, the firm co-led two rounds for DiffuSpace in October 2026. DiffuSpace is a Shenzhen diffusion language model company. The rounds totalled several hundred million RMB. The firm also took part in Meshy's roughly $400 million Series B in July 2026. PitchBook lists a January 2026 investment by Fund VII in MiniMax AI. Baidu Baike reports that the firm participated in two rounds for humanoid robot developer Tiger Robotics in December 2025. It also reports that the firm led a Pre-A round of over RMB 100 million for Lingjing Intelligence Source, an embodied intelligence company, in July 2026.
The firm says it prefers to be the first institutional investor and the largest non-management shareholder. Its stated initial investment is generally $1 million to $10 million, according to Caixin and AVCJ. Tracxn records entries mainly at Series A (190 deals), Seed (108) and Series B (92). It gives average round sizes of about $9.2 million at Seed, $18 million at Series A and $52.6 million at Series B. These are round sizes, not the firm's own checks. The firm does not publish AI-specific check sizes.
- Meshy: AI 3D and multimodal model company. The firm joined its Series B of nearly $400 million in July 2026.
- DiffuSpace: diffusion language model developer in Shenzhen. The firm co-led two rounds in 2026 with Shunwei Capital and Legend Capital.
- MiniMax AI: AI model company. PitchBook records a Matrix Partners China VII investment on 9 January 2026.
- Aether AI: $20 million Seed round in June 2026, listed as led by the firm on the Lounge deals desk. I could not verify it in other sources.
- Tiger Robotics: humanoid robot developer. The firm took part in two rounds in December 2025.
- Lingjing Intelligence Source: embodied intelligence company. The firm led a Pre-A round of over RMB 100 million in July 2026.
- en.wikipedia.org/wiki/MPCi
- baike.baidu.com/en/item/Matrix%20Partners%20China/4456649
- caixinglobal.com/2021-01-21/matrix-partners-china-raises-12-billion-fo
- avcj.com/avcj/news/3029098/matrix-china-pushes-out-final-close-on-fund
- pitchbook.com/profiles/fund/20757-34F
- news.qq.com/rain/a/20260720A058CP00
- news.dayoo.com/finance/202610/09/171077_55011003.htm
- tracxn.com/d/venture-capital/matrix-partners-china/**Q43SVDrl-0zptSX6h
Investing activity
Matrix Partners China appears in 3 AI deals tracked by the AI Lounge deals desk, rounds totalling $490M, and led 2 of them. The rounds are mostly Growth, Series B and Seed, with a median round size of $70M and the largest at $400M. The most recent are DiffuSpace (Two venture rounds, $70M, Oct 2026), Meshy AI (Series B, $400M, Jul 2026) and Aether AI (Seed, $20M, Jun 2026).
Matrix Partners China most often invests alongside Shunwei Capital, Legend Capital, CAS Star and Huawei Hubble, and the companies it backs on AI Lounge are mostly in Foundation models (diffusion LLMs), Generative 3D and AI.
Deals
Frequently asked questions about Matrix Partners China
Does Matrix Partners China invest in AI startups?
Yes. Recent public deals include Meshy, DiffuSpace and MiniMax AI, and it has also backed robotics and embodied intelligence companies.
How large are Matrix Partners China's funds?
Fund VII closed at $1.6 billion, after Fund VI at about $1.2 billion and Fund V at $750 million. The first fund in 2008 was $275 million.
What check size does Matrix Partners China write?
The firm says its initial investment is generally $1 million to $10 million. It does not publish check sizes specific to AI.
What stage does Matrix Partners China invest in?
Mostly Seed, Series A and Series B, with fewer deals at Series C. It also invests in angel rounds and takes part in later rounds such as Meshy's Series B.
Who founded Matrix Partners China and where is it based?
It was founded in 2008 and is based in Beijing. Press reports name Bo Shao, David Su and David Zhang as co-founders, and some also name Ye Lee.
What AI companies has Matrix Partners China invested in?
Matrix Partners China's AI investments include DiffuSpace, Meshy AI and Aether AI. The 3 rounds on AI Lounge are listed on this page with amounts, dates and co-investors.
Where is Matrix Partners China based?
Matrix Partners China is based in Beijing, China.
What stage does Matrix Partners China invest at?
In the rounds tracked on AI Lounge, Matrix Partners China has invested at Growth, Series B and Seed, with a median round of $70M. Matrix Partners China led 2 of those rounds.
Who does Matrix Partners China co-invest with?
Matrix Partners China's most frequent co-investors on AI Lounge are Shunwei Capital (1 deal), Legend Capital (1 deal), CAS Star (1 deal), Huawei Hubble (1 deal) and Horizon Robotics (1 deal).
How can founders reach Matrix Partners China?
Founders on AI Lounge can see Matrix Partners China's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add Matrix Partners China to their Investor Pipeline to track the conversation.