About BA Capital
BA Capital is a venture capital firm founded in 2016. It is primarily based out of Jing an, China. As of Dec 2024, BA Capital has invested in 22 companies. It primarily invests in Series B round in China based startups. Its investments are spread across a wide range of sectors from Retail to Consumer and High Tech. Most recently it participated in the $***** Series A round of Keda Hengye Overall, BA Capital portfolio has seen 1 IPO and 1 acquisition, namely oladance and Helensbar. A lot of funds co-invest with BA Capital, with names like CMC Capital sharing a substantial percentage of its portfolio. BA Capital has team of 2 people including 2 partners.BA Capital's List of Top Investments
BA Capital has a portfolio of 22 companies. Their most notable investments are in simplelove.com.cn and M Stand Coffee.Their portfolio spans across China, Spain and United States. They have invested in Retail, Consumer, High Tech and 3 other sectors, across stages such as Series A, Series B and 4 more. Here is the list of top investments by BA Capital:1. HEYTEA
Hi Tea owns and operates a chain of tea shops. The company offers cheese topped tea, fruit tea, manche cheese tea, almond coffee, cocoa milk tea, tea milk cover, sun moon lake lemon black tea, milk cap imperial tea, and tiramisu milk tea. It also offers green tea cake, strawberry pudding, and gong gong. The company is based in Bejing, China.
Key facts about HEYTEA
2. KK Group
Key facts about KK Group
- Founded Year: 2015
- Location: Dongguan (China)
- Stage: Series F
- Total Funding till date: $612M
- Employee Count: 1,796 as on Jun 30, 2026
- Investors: CMC Capital, Shenzhen Capital Group and 10 Others
- Latest Funding Round: Series F, Jul 06, 2021, $*****
3. FITURE
Key facts about FITURE
- Founded Year: 2019
- Location: Chengdu (China)
- Stage: Series B
- Total Funding till date: $391M
- Employee Count: 128 as on Jun 30, 2026
- Investors: DST Global, Cathay Innovation and 19 Others
- Latest Funding Round: Series B, Apr 14, 2021, $*****
4. Aikucun
Aikucun is an online crowdsourcing distribution platform. It utilises S2B2C model to connect manufacturer, distributors and customers together to solve the problem of manufacturing inventory. Its features include order & inventory management, sales & distribution management, destocking & logistics management, after-sales services and more.
Key facts about Aikucun
- Founded Year: 2017
- Location: Shanghai (China)
- Stage: Series C
- Total Funding till date: $214M
- Employee Count: 73 as on Jul 01, 2024
- Investors: Sunshine Insurance Group, GGV Capital and 6 Others
- Latest Funding Round: Series C, Nov 18, 2020, $*****
- Highlight: Editors' Pick
Key facts about Yuanqi Senlin
- Founded Year: 2015
- Location: Beijing (China)
- Stage: Series B
- Total Funding till date: $21.4M
- Investors: Everbright Zhongying Capital, HSG and 14 Others
- Latest Funding Round: Series B, Mar 30, 2021, $*****
BA Capital's Year-on-Year Investment Trends
BA Capital has invested in 22 companies over the last 8 years, with an average of 1 new investment annually in the last 5 years. Its most recent first time investment was in Keda Hengye and most recent follow-on round was in HEYTEA.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 1 | 0 | 1 |
2023 | 3 | 0 | 3 |
2022 | 1 | 0 | 1 |
2021 | 4 | 2 | 6 |
2020 | 5 | 0 | 5 |
2019 | 1 | 0 | 1 |
2018 | 2 | 0 | 2 |
BA Capital's Investments by Stage
BA Capital has made 7 investments in Series A stage with an average round size of $49.5M, 6 investments in Series B stage with an average round size of $60M and 1 investment in Angel stage.Stage of entry | No. of Investments |
|---|---|
Series A | 7 |
Series B | 6 |
Angel | 1 |
Seed | 1 |
Series C | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
BA Capital's Investments by Sector
BA Capital has a diverse portfolio, with companies operating in the Food and Agriculture, Consumer Goods, Retail, Consumer and Healthcare. Notably, it has invested in 4 Consumer (B2C) companies, 4 Tech companies, 1 Enterprise (B2B) company and at least 1 company focusing on Marketplace.Sector | No. of Investments |
|---|---|
Food and Agriculture | 12 |
Consumer Goods | 10 |
Retail | 3 |
Consumer | 2 |
Healthcare | 1 |
Others | 2 |
Note: We have considered here, only first round of investments
BA Capital's Investments by Geography
BA Capital has made most investments in China (15), followed by United States where it has made 1 investment.Country | No. of Investments |
|---|---|
China | 15 |
United States | 1 |
Note: We have considered here, only first round of investments
BA Capital's recent investments
BA Capital has not made any investment in 2026 so far.Here are the most recent investments by BA Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Dec 10, 2024 | - | Series A | 4942 | - | |
Aug 07, 2023 | United States | Angel | 2465 | ||
Feb 22, 2023 | China | Series A | 4679 | ||
Feb 14, 2023 | China | Seed | 8297 | ||
Feb 28, 2022 | China | Series A | 1111 |
IPOs and Publicly Listed companies in BA Capital's Portfolio
1 of BA Capital's portfolio company became public - Helensbar. It got listed on the Hong Kong Exchanges (HKG), in Sep 2021 at marketcap of $3.32BHere are BA Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 10, 2021 | Feb 19, 2021 | Series C | 6275 |
Acquired companies in BA Capital's Portfolio
1 company from BA Capital's portfolio has been acquired. The most recent acquisition was oladance in Mar 2024 by ByteDance for $*****.Here are BA Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 01, 2024 | Aug 07, 2023 | Angel | 9796 |
Team profile of BA Capital
BA Capital has a team of 2 members including 2 Partners located in China. BA Capital's team does not sit on the board of any company as of now.Co-investors of BA Capital
Over the past 8 years, 68 investors have co-invested in BA Capital's portfolio companies. This includes funds and angels.
- Invested before BA Capital: IDG Capital, Meituan and 13 others have invested in rounds before BA Capital. There is 1 company where IDG Capital has invested before BA Capital and 1 company where Meituan has invested before BA Capital.
- Top Co-investors of BA Capital: 28 investors entered a company along with BA Capital. These include investors like CMC Capital (2 companies).
- Invested after BA Capital: A total of 25 investors have invested in BA Capital's portfolio after their investments. Top Investors include HongShan (2 companies), Coatue (2 companies) and L Catterton (2 companies).
Recent News related to BA Capital
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Xiaohongshu leads Series B+ funding for coffee chain M StandTechNode•Jun 05, 2023•Genbridge Capital, CMC Capital, BA Capital, Xiaohongshu
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New beauty retail brand “HARMAY” completed nearly $200 million in Series C and Series D financing36Kr•Jan 20, 2022•HARMAY, General Atlantic, Hillhouse, Ocean Link and 8 others
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Emerging Chinese coffee chain M Stand raises US$77.3 millionInside Retail•Jul 26, 2021•Challenger Capital Group, CMC Capital, BA Capital, M Stand Coffee
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