About LUN Partners Group
LUN Partners Group is a venture capital firm founded in 2016. It is primarily based out of Hong Kong, China. As of Aug 2023, LUN Partners Group has invested in 22 companies. It primarily invests in Series C round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to FinTech and High Tech. Most recently it participated in the $***** Series G round of Tradeshift Overall, LUN Partners Group portfolio has seen 4 unicorns, 2 IPOs and 5 acquisitions including key companies like Varo, Forge Global and ThoughtSpot. A lot of funds co-invest with LUN Partners Group, with names like IDC Ventures sharing a substantial percentage of its portfolio. LUN Partners Group has team of 6 people including 3 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series C, Seed & 3 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
LUN Partners Group's List of Top Investments
LUN Partners Group has a portfolio of 22 companies, including 4 unicorns. Their most notable investments are in NETSTARS and Tradeshift.Their portfolio spans across United States, China, Brazil and 4 more locations. They have invested in Enterprise Applications, FinTech, High Tech and 13 other sectors, across stages such as Series C, Seed and 3 more. Here is the list of top investments by LUN Partners Group:1. RecargaPay
Mobile wallet and prepaid card provider. Users can make cellular recharges, utility bill payments, public transport payments, and also peer-to-peer transfers. The wallet can be reloaded through credit cards, bank transfers, or cash deposits in physical stores. Users can opt for a monthly subscription plan which offers features such as additional discounts, free automatic recharge, and recharge without an internet connection.
Key facts about RecargaPay
- Founded Year: 2004
- Location: Sao Paulo (Brazil)
- Stage: Series C
- Total Funding till date: $127M
- Employee Count: 588 as on Mar 31, 2026
- Investors: 10x Group, Staenberg Venture Partners and 26 Others
- Latest Funding Round: Series C, Oct 28, 2021, $*****
- Highlight: Editors' Pick
2. Varo
Digital bank for individuals. It offers services such as savings accounts, money transfers, cash withdrawals, NFC-enabled debit cards for online/offline purchases, tools for future savings, and more. The application is available on iOS and Android platforms.
Key facts about Varo
3. Forge Global
Investment platform for private equities. It is a private market investment platform for shareholders, investors, companies, and institutions. It is a marketplace for angel investors, accredited investors, asset managers, venture capitalists, wealth managers, and family offices. It also offers the liquidity, administration, and buyback solutions to startups and other private companies.
Key facts about Forge Global
- Founded Year: 2014
- Location: San Francisco (United States)
- Annual Revenue: $79.3M as on Dec 31, 2024
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $250M
- Employee Count: 385 as on Mar 31, 2026
- Investors: Temasek, Operative Capital and 24 Others
- Latest Funding Round: Series C, May 04, 2021, $*****
- Highlight: Acquired
4. ThoughtSpot
Provider of an agentic analytics platform delivering insights from various data. The platform offers AI agents, embedded analytics, and enterprise business intelligence. It features AI-augmented dashboards, automated insights, and an analyst studio. The platform connects to various data sources and supports business leaders, product leaders, and data leaders.
Key facts about ThoughtSpot
- Founded Year: 2012
- Location: San Jose (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $674M
- Employee Count: 1,695 as on Mar 31, 2026
- Investors: TriplePoint Capital, Silver Lake and 45 Others
- Latest Funding Round: Series F, Nov 12, 2021, $*****
- Highlight: Editors' Pick
5. Metromile
App that provides usage-based auto insurance platform for individuals. It offers solutions for liability protection, auto collision, personal injury protection, and more. It uses artificial intelligence technology to automate claims & optimizes losses associated with the fraud. The app is available for Android and iOS platforms.
Key facts about Metromile
- Founded Year: 2011
- Location: San Francisco (United States)
- Annual Revenue: $105M as on Dec 31, 2021
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $295M
- Employee Count: 56 as on Mar 31, 2026
- Investors: TriplePoint Capital, Advantas Capital Ventures and 20 Others
- Latest Funding Round: Post IPO, Feb 02, 2021, $*****
- Highlight: Acquired
LUN Partners Group's Year-on-Year Investment Trends
LUN Partners Group has invested in 22 companies over the last 10 years, with an average of 1 new investment annually in the last 10 years. Its most recent first time investment was in Quantifeed and most recent follow-on round was in Tradeshift.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 0 | 1 | 1 |
2022 | 1 | 0 | 1 |
2021 | 3 | 3 | 6 |
2020 | 1 | 0 | 1 |
2019 | 1 | 0 | 1 |
2018 | 2 | 1 | 3 |
2017 | 1 | 0 | 1 |
LUN Partners Group's Investments by Stage
LUN Partners Group has made 4 investments in Series C stage with an average round size of $78.3M, 2 investments in Seed stage with an average round size of $4.1M, 2 investments in Series A stage with an average round size of $5.75M, 1 investment in Conventional Debt stage and 1 investment in Series B stage with an average round size of $4.5M.Stage of entry | No. of Investments |
|---|---|
Series C | 4 |
Seed | 2 |
Series A | 2 |
Conventional Debt | 1 |
Series B | 1 |
Note: We have considered here, only first round of investments
LUN Partners Group's Investments by Sector
LUN Partners Group has a diverse portfolio, with companies operating in the FinTech, Enterprise Applications, Vertical SaaS, Consumer and Retail. Notably, it has invested in 19 Tech companies, 14 Enterprise (B2B) companies, 11 Software companies and at least 9 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
FinTech | 8 |
Enterprise Applications | 4 |
Vertical SaaS | 3 |
Consumer | 2 |
Retail | 2 |
Others | 7 |
Note: We have considered here, only first round of investments
LUN Partners Group's Investments by Geography
LUN Partners Group has made most investments in United States (5), followed by China where it has made 2 investments.Country | No. of Investments |
|---|---|
United States | 5 |
China | 2 |
Brazil | 1 |
Denmark | 1 |
Japan | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
LUN Partners Group's recent investments
LUN Partners Group has not made any investment in 2026 so far.Here are the most recent investments by LUN Partners Group:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 01, 2023 | United States | Series G | 8375 | [+5] | |
May 19, 2022 | China | Series C | 4166 | [+2] | |
Dec 09, 2021 | United States | Conventional Debt | 9739 | [+3] | |
Dec 09, 2021 | United States | Series F | 5275 | [+3] | |
Nov 10, 2021 | United States | Series C | 3618 | [+5] |
Unicorns in LUN Partners Group's Portfolio
LUN Partners Group has 4 unicorns in its portfolio - Varo, Automation Anywhere, Tradeshift and others. The most recent unicorn in their portfolio is Varo. It became a unicorn in 2021, 4 years before LUN Partners Group first invested in it.Here is a list of unicorns in LUN Partners Group's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
75 | Digital bank for individuals | 2015 | San Francisco | Series G | tqdynbp | ||
64 | Provider of AI-based platform for robotic process automation | 2003 | San Jose | Series B | qz{oqml | ||
55 | Provider of cloud platform for e-invoicing, AP automation, and global compliance | 2010 | San Francisco | Series G | vo{vzib | ||
70 | Provider of an agentic analytics platform delivering insights from various data | 2012 | San Jose | Series F | aipwxic |
IPOs and Publicly Listed companies in LUN Partners Group's Portfolio
2 of LUN Partners Group's portfolio companies have become public. Platinum Analytics got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Sep 2025 at marketcap of $43.6M and NETSTARS got listed on the Tokyo Stock Exchange (TSE) at marketcap of $155M.Here are LUN Partners Group's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 19, 2025 | - | - | 1986 | |
Sep 26, 2023 | May 21, 2020 | Seed | 5117 |
Acquired companies in LUN Partners Group's Portfolio
5 companies from LUN Partners Group's portfolio have been acquired. The most recent acquisition was Forge Global in Nov 2025 by Charles Schwab for $*****.Here are LUN Partners Group's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Nov 06, 2025 | May 04, 2021 | Series C | 3140 | |
Jul 01, 2022 | - | - | 5078 | |
Mar 16, 2022 | - | - | 2671 | |
May 25, 2021 | Sep 29, 2016 | Seed | 1606 | |
May 12, 2020 | Jun 20, 2018 | Series C | 5328 |
Team profile of LUN Partners Group
LUN Partners Group has a team of 6 members including 3 Partners and 1 Principal located in China. LUN Partners Group's team does not sit on the board of any company as of now.Here is a list of all team members in LUN Partners Group:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Huangpu | - | - | |
Partner | China | - | ||
Partner | Shanghai | - | - | |
Principal | Huangpu | - |
Co-investors of LUN Partners Group
Over the past 10 years, 93 investors have co-invested in LUN Partners Group's portfolio companies. This includes funds and angels.
- Invested before LUN Partners Group: FundersClub, IFC and 45 others have invested in rounds before LUN Partners Group. There is 1 company where FundersClub has invested before LUN Partners Group and 1 company where IFC has invested before LUN Partners Group.
- Top Co-investors of LUN Partners Group: 22 investors entered a company along with LUN Partners Group. These include investors like IDC Ventures (2 companies).
- Invested after LUN Partners Group: A total of 24 investors have invested in LUN Partners Group's portfolio after their investments. Top Investors include IDB Invest (1 company), Admaius Capital Partners (1 company) and Vitruvian Partners (1 company).
Recent News related to LUN Partners Group
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Enterprise-level digital payment service provider "Tradeshift" received US$70 million in financingCui Niuhui•Aug 02, 2023•HSBC, LUN Partners Group, IDC Ventures, Fuel Venture Capital and 3 others
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HSBC plans $70mln JV with world's largest trade networkZawya•Aug 01, 2023•HSBC, Tradeshift, LUN Partners Group, Fuel Venture Capital and 4 others
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MFS Africa Expands Series C Funding Round to US$200 MillionAfrica Business Communities•Aug 15, 2022•MFS Africa, Vitruvian Partners, AXA Investment Managers, CommerzVentures and 5 others
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MFS Africa Raises $100M in Extended Series CPYMNTS.com•Jun 14, 2022•MFS Africa, Admaius Capital Partners, Vitruvian Partners, AXA Investment Managers and 18 others
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Quantifeed Announces Series C Funding Led by HSBC Asset ManagementICrowdNewswire•May 20, 2022•Quantifeed, HSBC, Franklin Templeton Investments, Daiwa PI Partners and 1 other
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Supply chain management service platform "Tradeshift" completes US$200 million financing36Kr•Dec 12, 2021•Tradeshift, IDC Ventures, LUN Partners Group, Fuel Capital and 1 other
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Major Investors Back Tradeshift’s Combined SaaS and Fintech Platform Connecting the World’s Supply ChainsBusiness Wire•Dec 09, 2021•Tradeshift, Koch Industries, IDC Ventures, LUN Partners Group and 1 other
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Digital payments startup MFS Africa raises $100 million to expand across the continentAfrica Business Communities•Nov 11, 2021•MFS Africa, Goodwell Investments, LUN Partners Group, CommerzVentures and 8 others
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Temasek invests in Forge to help grow its private securities marketplace beyond USe27•May 24, 2021•Forge Global, Deutsche Borse Group, Temasek, Wells Fargo and 4 others
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