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Capital Today

Asia, Shanghai, China, Shanghai

Description

Capital Today, founded by the highly respected Kathy Xu, stands as a preeminent independent private equity firm based in Shanghai, China. Renowned for its deep expertise in the consumer, retail, and internet sectors, the firm has carved out a formidable reputation by identifying and nurturing high-growth potential within small and medium-sized companies. Kathy Xu, often dubbed "China's Queen of Venture Capital," leads Capital Today with a distinctive long-term investment philosophy, focusing on entrepreneurs who demonstrate strong vision and execution capabilities in building enduring brands.

The firm's investment strategy is characterized by a patient, hands-on approach, often providing not just capital but also strategic guidance to its portfolio companies. Capital Today is celebrated for its exceptional track record, having made prescient early investments in some of China's most successful enterprises. A notable example is its early backing of JD.com, where it invested approximately $10 million in 2006, a stake that famously yielded substantial returns. Other significant successes include investments in e-commerce giant Meituan, NetEase, and Yonghui Superstores, underscoring their consistent ability to pick market leaders.

Capital Today typically engages with companies across various stages, from early-growth to more mature expansion rounds, always with a focus on consumer-facing businesses that exhibit strong brand potential and scalable business models. While the firm's capacity allows for substantial investments, its initial cheques for small and medium-sized companies generally range from a few million to tens of millions of US dollars. For instance, their third fund successfully raised $520 million in 2010, demonstrating their significant capital base to support these investments.

The firm's commitment to fostering long-term value creation and its strategic insights have made it a highly sought-after partner for Chinese entrepreneurs. Capital Today's disciplined approach and proven ability to transform promising SMEs into industry titans solidify its position as a pivotal force in China's private equity landscape, particularly for businesses aiming to dominate the vast domestic consumer market.

Investor Profile

Capital Today has backed more than 24 startups, with 1 new investments in the last 12 months alone. The firm has led 8 rounds, about 33% of its total and boasts 13 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series B, Series A, Series C rounds (top funding stages).
  • Majority of deals are located in China, United States.
  • Strong thematic focus on E-Commerce, Video, Apps.
  • Led 1 rounds in the past year.
  • Typical check size: $5M – $50M.

Stage Focus

  • Series B (42%)
  • Series A (17%)
  • Series C (17%)
  • Series D (13%)
  • Series E (4%)
  • Series Unknown (4%)
  • Seed (4%)

Country Focus

  • China (88%)
  • United States (13%)

Industry Focus

  • E-commerce
  • Video
  • Apps
  • Internet
  • Retail
  • Social Network
  • Food And Beverage
  • Social Media
  • News
  • Classifieds
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Capital Today frequently co-invest with?

Ocean Link
Asia, Shanghai, China, Shanghai
Co-Investments: 3
IDG Capital
Asia, Beijing, China, Beijing
Co-Investments: 5
Tencent
Asia, Guangdong, China, Shenzhen
Co-Investments: 3
GSR Ventures
North America, California, United States, Menlo Park
Co-Investments: 8
General Atlantic
North America, New York, United States, New York
Co-Investments: 3
DST Global
Europe, England, United Kingdom, London
Co-Investments: 5
HongShan
Asia, Beijing, China, Beijing
Co-Investments: 8
Gaorong Capital
Asia, Beijing, China, Wangjing
Co-Investments: 4
CMC Capital Group
Asia, Shanghai, China, Shanghai
Co-Investments: 2
GGV Capital
North America, California, United States, Menlo Park
Co-Investments: 3

Which angels does Capital Today often collaborate with?

Gang Wang
Asia, Zhejiang, China, Hangzhou
Shared Deals: 1

What are some of recent deals done by Capital Today?

Galaxea AI

Suzhou, Jiangsu, China

Galaxea AI is an intelligent robot technology company that specializes in the development of humanoid robots with embodied intelligence.

Intelligent SystemsManufacturingRobotics
Series AJul 9, 2025
Amount Raised: $13,927,771
Vita Dynamics

Beijing, Beijing, China

Vita Dynamics aims to develop robots based on the concept of embodied intelligence.

Artificial Intelligence (AI)Robotic Process Automation (RPA)Robotics
SeedMar 21, 2025
Gaussian Robot

Shanghai, Shanghai, China

Gaussian Robot is a robotics company that develops intelligent cleaning robots.

Artificial Intelligence (AI)Robotics
Series CNov 10, 2021
Amount Raised: $187,819,881
Outer

Santa Monica, California, United States

Outer is a direct-to-consumer outdoor furniture brand.

E-CommerceFurnitureManufacturingRetail
Series BSep 16, 2021
Amount Raised: $50,000,000
Patpat

Mountain View, California, United States

PatPat is a shopping app for moms.

AppsChildrenClassifiedsE-CommerceShopping
Series DJul 23, 2021
Amount Raised: $510,000,000
Dingdong Maicai

Shanghai, Shanghai, China

Dingdong Maicai is a fresh vegetable e-commerce platform that is dedicated to accelerating production through technology.

DeliveryE-CommerceFood and BeverageSales
Series DApr 6, 2021
Amount Raised: $700,000,000
Shanghai Lihuh Network Technology

Shanghai, Shanghai, China

Shanghai Lihuh Network Technology is a video platform operator.

Video
Series BDec 10, 2018
Amount Raised: $20,000,000
Weiba

Jinan, Shandong, China

Weiba is a short voice and video community for chatting while watching.

AppsAudioVideo
Series BDec 8, 2018
Amount Raised: $2,050,000
Youhua Technology

Shanghai, Shanghai, China

Shanghai based Media & Entertainment company.

Media and Entertainment
Series BDec 8, 2018
Xingsheng Youxuan

Changshahsien, Hunan, China

Xingsheng Youxuan is a community shopping platform that offers food and household products for consumers.

E-CommerceFood and BeverageGroceryRetailShopping
Series ASep 17, 2018
Amount Raised: $8,600,000