About Crystal Stream Capital
Crystal Stream Capital is a venture capital firm founded in 2013. It is primarily based out of Chaoyang, China. As of Aug 2026, Crystal Stream Capital is an active investor, having invested in 40 companies, with 2 new investments in the last 12 months. It primarily invests in Series A round in China based startups. Its investments are spread across a wide range of sectors from Consumer to Retail and Enterprise Applications. Most recently it participated in the $***** Series A round of Mathmagic Overall, Crystal Stream Capital portfolio has seen 2 unicorns, 1 IPO and 1 acquisition including key companies like Tmall, Monster Charging and ROBOTERA. A lot of funds co-invest with Crystal Stream Capital, with names like Hillhouse sharing a substantial percentage of its portfolio. Crystal Stream Capital has team of 10 people including 5 partners.Key Metrics
Portfolio Locations
Rounds of Entry
Series A, Seed & 3 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Crystal Stream Capital's List of Top Investments
Crystal Stream Capital has a portfolio of 40 companies, including 2 unicorns. Their most notable investments are in Douguo and Monster Charging.Their portfolio spans across China, United States, Egypt and 3 more locations. They have invested in Consumer, Retail, Enterprise Applications and 19 other sectors, across stages such as Series A, Seed and 3 more. Here is the list of top investments by Crystal Stream Capital:1. Tmall
Online marketplace offering multi-category consumer products. The product catalog includes apparel, jewelry, cosmetics, home care, decor, pet care, baby care, groceries, stationery, and more.
Key facts about Tmall
- Founded Year: 2008
- Location: Hangzhou (China)
- Stage: Acquired
- Employee Count: 203 as on Aug 31, 2026
- Investors: Innovator Capital, Vision Knight Capital and 10 Others
- Highlight: Acquired
2. Maxab
Provider of a B2B e-commerce platform for food and grocery supplies. The platform offers retailers transparent pricing and on-demand delivery. It provides suppliers with supply chain solutions and business intelligence tools. The platform facilitates payments across the retail ecosystem.
Key facts about Maxab
- Founded Year: 2018
- Location: Cairo (Egypt)
- Stage: Series A
- Total Funding till date: $101M
- Employee Count: 1,080 as on Aug 31, 2026
- Investors: Silver Lake, BECO Capital and 16 Others
- Latest Funding Round: Series A, Sep 12, 2022, $*****
- Highlight: Editors' Pick
Provider of shared power bank rental services through a network of kiosks. This involves deploying and managing charging stations in various locations, allowing users to rent portable power banks on a pay-per-use basis. The company facilitates the rental process through a mobile application or kiosk interface. Revenue is generated from rental fees and potentially advertising displayed on the kiosks. Support services are provided to franchisees or agents who operate the kiosks. The company also offers maintenance and technical support for the equipment.
Key facts about Monster Charging
- Founded Year: 2017
- Location: Hangzhou (China)
- Stage: Public
- Total Funding till date: $132M
- Employee Count: 146 as on Aug 31, 2026
- Investors: CMC Capital, SoftBank Group and 13 Others
- Latest Funding Round: Series C, Dec 26, 2019, $*****
- Highlight: Public
Developer of AI-driven platform and tools for scientific research and development. The platform offers resources for accessing academic literature, managing research projects, and running code. It provides a unified environment connecting software and hardware resources. The platform supports data management, environment replication, and team collaboration. It facilitates structured data analysis for scientific applications across various disciplines.
Key facts about Shenshi Technology
- Founded Year: 2019
- Location: Beijing (China)
- Stage: Series C
- Total Funding till date: $255M
- Employee Count: 107 as on Aug 31, 2026
- Investors: Hillhouse, Loayal Valley Capital and 22 Others
- Latest Funding Round: Series C, Dec 24, 2025, $*****
- Highlight: Editors' Pick
5. ROBOTERA
Provider of AI general-purpose humanoid robots. It focuses on the research and development of robotic technologies to apply smart robots into daily life. It introduced a range of products, including a dexterous hand called XHand, and has made significant strides in humanoid robotics.
Key facts about ROBOTERA
Crystal Stream Capital's Year-on-Year Investment Trends
Crystal Stream Capital has invested in 40 companies over the last 12 years, with an average of 2 new investments annually in the last 10 years. In 2025, it made 1 investment, while as of Aug 2026, it has made 2 investments in this year. Its most recent first time investment was in Mathmagic and most recent follow-on round was in ROBOTERA.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 2 | 0 | 2 |
2025 | 0 | 1 | 1 |
2024 | 1 | 0 | 1 |
2023 | 0 | 0 | 0 |
2022 | 4 | 0 | 4 |
2021 | 3 | 3 | 6 |
2020 | 6 | 1 | 7 |
2019 | 4 | 0 | 4 |
2018 | 2 | 0 | 2 |
2017 | 2 | 0 | 2 |
Crystal Stream Capital's Investments by Stage
Crystal Stream Capital has made 15 investments in Series A stage with an average round size of $12M, 7 investments in Seed stage with an average round size of $42.2M, 3 investments in Series C stage with an average round size of $51.6M, 2 investments in Series B stage with an average round size of $14.9M and 1 investment in Angel stage.Stage of entry | No. of Investments |
|---|---|
Series A | 15 |
Seed | 7 |
Series C | 3 |
Series B | 2 |
Angel | 1 |
Note: We have considered here, only first round of investments
Crystal Stream Capital's Investments by Sector
Crystal Stream Capital has a diverse portfolio, with companies operating in the Consumer, High Tech, Retail, Artificial Intelligence - Industry Applications and Enterprise Applications. Notably, it has invested in 26 Tech companies, 19 Consumer (B2C) companies, 14 Enterprise (B2B) companies and at least 10 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 10 |
High Tech | 5 |
Retail | 5 |
Artificial Intelligence - Industry Applications | 4 |
Enterprise Applications | 4 |
Others | 34 |
Note: We have considered here, only first round of investments
Crystal Stream Capital's Investments by Geography
Crystal Stream Capital has made most investments in China (21), followed by Egypt where it has made 1 investment.Country | No. of Investments |
|---|---|
China | 21 |
Egypt | 1 |
Indonesia | 1 |
Kenya | 1 |
South Korea | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Crystal Stream Capital's recent investments
Crystal Stream Capital has made 2 investments in 2026 so far - Mathmagic and LatentVerse.Here are the most recent investments by Crystal Stream Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 21, 2026 | South Korea | Series A | 6079 | [+6] | |
Aug 11, 2026 | - | Seed | 6608 | [+3] | |
Jul 07, 2025 | China | Series A | 4578 | [+6] | |
Oct 16, 2024 | China | Seed | 8788 | [+7] | |
Dec 13, 2022 | China | Seed | 9654 | [+2] |
Unicorns in Crystal Stream Capital's Portfolio
Crystal Stream Capital has 2 unicorns in its portfolio - ROBOTERA and 51 Credit Card. The most recent unicorn in their portfolio is ROBOTERA. It became a unicorn in 2026, 1 years after Crystal Stream Capital first invested in it.Here is a list of unicorns in Crystal Stream Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
57 | Provider of AI general-purpose humanoid robots | 2023 | Beijing | Series C | arvhcvw | ||
49 | Credit card bill management tool for consumers | 2012 | Hangzhou | Series C | {eitjwq |
IPOs and Publicly Listed companies in Crystal Stream Capital's Portfolio
1 of Crystal Stream Capital's portfolio company became public - Monster Charging. It got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Apr 2021 at marketcap of $4.24BHere are Crystal Stream Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 01, 2021 | Jul 28, 2017 | Seed | 9057 |
Acquired companies in Crystal Stream Capital's Portfolio
1 company from Crystal Stream Capital's portfolio has been acquired. The most recent acquisition was Tmall in Jun 2017 by Alibaba Group for $*****.Here are Crystal Stream Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 01, 2017 | - | - | 5829 |
Team profile of Crystal Stream Capital
Crystal Stream Capital has a team of 10 members including 5 Partners and 3 Principals located in China. Crystal Stream Capital's team does not sit on the board of any company as of now.Here is a list of all team members in Crystal Stream Capital:
Co-investors of Crystal Stream Capital
Over the past 12 years, 189 investors have co-invested in Crystal Stream Capital's portfolio companies. This includes funds and angels.
- Invested before Crystal Stream Capital: BECO Capital, 4DX Ventures and 26 others have invested in rounds before Crystal Stream Capital. There is 1 company where BECO Capital has invested before Crystal Stream Capital and 1 company where 4DX Ventures has invested before Crystal Stream Capital.
- Top Co-investors of Crystal Stream Capital: 57 investors entered a company along with Crystal Stream Capital. These include investors like Hillhouse (5 companies).
- Invested after Crystal Stream Capital: A total of 104 investors have invested in Crystal Stream Capital's portfolio after their investments. Top Investors include Matrix Partners China (3 companies), Hillhouse (2 companies) and Qiming Venture Partners (2 companies).
Recent News related to Crystal Stream Capital
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RoboScience Completes Multi-Million Yuan Pre-A Round of FinancingEastmoney•Feb 12, 2026•Roboscience, CM Ventures, Puhua Capital, Crystal Stream Capital and 3 others
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Smart enterprise "Star Era" completes nearly 300 million yuan Pre-A round of financingtidesight.com•Oct 16, 2024•ROBOTERA, Vision Plus Capital, Ceyuan Ventures, Lenovo Capital and Incubator Group and 16 others
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Alibaba leads the investment! Tsinghua-affiliated embodied intelligence company Xingdong Jiyuan completes nearly 300 million yuan in Pre-A round of financingTMTpost•Oct 16, 2024•ROBOTERA, Crystal Stream Capital, Vision Plus Capital, Alibaba Group and 13 others
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Embodied intelligence company Xingdong Era completed nearly 300 million yuan in Pre-A financing. Tsinghua University holds a stakeSina•Oct 16, 2024•ROBOTERA, Crystal Stream Capital, Vision Plus Capital, Alibaba and 13 others
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Yupan Technology received nearly 100 million yuan in seed and angel round financingInvestorscn•Apr 12, 2024•Shunwei Capital, Landstone Capital, Crystal Stream Capital
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Silicon Technology aiXcoder received 10 million yuan in A+ round of financing, led by Binfu CapitalCui Niuhui•Sep 04, 2023•Safe Heart, Binfu Capital, Crystal Stream Capital
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Chinese cellular pork producer Joes Future raises $11m Series A fundingAgFunderNews•Oct 22, 2021•Nanjing Zhouzi Future Food Technology, Hillhouse Capital Group, Matrix Partners China, Crystal Stream Capital and 1 other
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Zhou Zi will complete A round of financing in the future, cell culture meat technology helps carbon neutralityPEdaily•Oct 18, 2021•Shenzhen Capital Group, Hillhouse Capital Group, Crystal Stream Capital, Jingwei and 1 other
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MaxAB gets an extra $15M, acquires YC-backed Moroccan startup WaystoCapTechCrunch+•Aug 25, 2021•WaystoCap, Maxab, rmbv.net, IFC and 6 others
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