Sky9 Capital

Sky9 Capital is a prominent venture capital firm based in Shanghai, China, established by Ron Cao, a seasoned investor with a strong track record from his tenure at Lightspeed China Partners. The firm is dedicated to identifying and nurturing disruptive technologies and exceptional innovators within the dynamic Chinese market. Sky9 Capital primarily focuses on early-stage investments, spanning from Seed rounds through Series B, across a diverse range of high-growth sectors including the internet, enterprise services, deep technology, consumer platforms, and healthcare. Their investment philosophy emphasizes long-term partnerships, providing not just capital but also strategic guidance and operational support to help portfolio companies scale rapidly and achieve market leadership.

The firm has built an impressive portfolio, demonstrating a keen eye for transformative businesses. Notable successes include early investments in e-commerce giant Pinduoduo, IoT cloud platform Tuya Smart, and leading audio content platform Ximalaya FM. These investments underscore Sky9 Capital's ability to back companies that go on to achieve significant market impact and valuations, reflecting their deep understanding of the Chinese consumer and technology landscape. Their proactive approach in supporting entrepreneurs, from market entry to expansion, contributes significantly to the growth trajectory of their portfolio companies.

Sky9 Capital commands substantial capital, enabling it to be a significant player in early-stage funding rounds. In 2021, the firm announced the successful closing of Sky9 Capital IV, its fourth USD-denominated fund, at a robust $500 million. This substantial fund empowers Sky9 Capital to deploy meaningful capital into promising ventures. Typically, their initial cheque sizes for first investments range from approximately $2 million for Seed or Pre-A rounds, extending up to $25 million for leading or co-leading Series A and B rounds. This flexibility allows them to support companies at various critical junctures of their early development, providing the necessary runway for innovation and market penetration.