About NLVC
NLVC is a venture capital firm founded in 2005. It is primarily based out of Menlo Park, United States. As of Jan 2026, NLVC is an active investor, having invested in 303 companies, with 3 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 High Tech to Enterprise Applications and Life Sciences. Most recently it participated in the $***** Series C round of Vibrant Therapeutics Overall, NLVC portfolio has seen 12 unicorns, 18 IPOs and 25 acquisitions including key companies like Carta, Meituan and Linekong. A lot of funds co-invest with NLVC, with names like New Enterprise Associates sharing a substantial percentage of its portfolio. NLVC has team of 38 people including 12 partners.Key Metrics
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 5 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
NLVC's List of Top Investments
NLVC has a portfolio of 303 companies, including 12 unicorns. Their most notable investments are in hachibot and ServiceWall.Their portfolio spans across China, United States, Singapore and 7 more locations. They have invested in High Tech, Enterprise Applications, Life Sciences and 33 other sectors, across stages such as Series A, Series B and 5 more. Here is the list of top investments by NLVC:
1. Carta
Software-based equity management solutions. It offers features solutions for valuation, equity planning, transfer agents, electronic securities, scenario modeling, fund administration, portfolio data collection, and more. It offers solutions to multiple sectors including private companies, investors, and public companies. It also offers ESOP management solutions.
Key facts about Carta
- Founded Year: 2012
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $1.16B
- Employee Count: 2,356 as on Jul 31, 2026
- Investors: Meritech, Silver Lake and 137 Others
- Latest Funding Round: Series G, Aug 13, 2021, $*****
- Highlight: Editors' Pick
2. Meituan
Online group-buying platform offering coupons for multi-category products and services. It offers coupon codes for food ordering, restaurants, dining booking, tickets, entertainment, corporate travel booking, domestic services, and more.
Key facts about Meituan
- Founded Year: 2010
- Location: Beijing (China)
- Stage: Public
- Total Funding till date: $9.86B
- Employee Count: 41,584 as on Jul 31, 2026
- Investors: Brookside Equity Partners, Baillie Gifford and 49 Others
- Latest Funding Round: Series F, Sep 01, 2018, $*****
- Highlight: Public
3. Linekong
Linekong is a Chinese online game developer and distributor. Founded in 2007 and starting with PC-based games, Linekong shifted focus to mobile games in 2013. Different from most mobile gaming businesses that start from casual games, Linekong began with mid-heavy games. Three such mobile games, Excalibur, Sword of Heaven and Blade of God, have been launched since March 2013, with the former two being developed in house. Mobile gaming contributed 83.6% of its total revenues in the first quarter of 2014. In 2012, almost all the revenues were from PC-based games. Apart from self-developed and licensed games, Linekong also offers advertising/marketing and other game-related services, such as OKSDK that is for third-party games to publish games on Linekong’s platform 8864.com. The company has partnered with some 200 Chinese channels, app stores, smartphone brands and telecom operators, to promote self-developed and licensed games.
Key facts about Linekong
- Founded Year: 2007
- Location: Beijing (China)
- Stage: Public
- Total Funding till date: $135M
- Employee Count: 177 as on Jul 31, 2026
- Investors: SAIF Partners, GeniLink Capital and 6 Others
- Latest Funding Round: Series D, May 30, 2014, $*****
- Highlight: Public
4. Huaqin
Provider of smart hardware, vehicle electronics, and digital scene services. It offers end-to-end product development, manufacturing, and operation of software, hardware, and systems to global tech companies. It also provides intelligent products including mobile phones, tablets, laptops, smart wearables, AIoT products, IDC products, and automotive electronics to its global consumers.
Key facts about Huaqin
- Founded Year: 2005
- Location: Pudong (China)
- Stage: Public
- Total Funding till date: $431M
- Employee Count: 1,962 as on Jul 31, 2026
- Investors: Qualcomm Ventures, China Merchants Bank and 10 Others
- Latest Funding Round: Series C, Jan 01, 2021, $*****
- Highlight: Public
5. VIPKid
Vipkid is an online tutoring platform for kids. It offers one-on-one English language learning sessions based on US common core state standards.
Key facts about VIPKid
- Founded Year: 2013
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $975M
- Employee Count: 8,993 as on Jul 31, 2026
- Investors: Yunfeng Capital, HSG and 9 Others
- Latest Funding Round: Series E, Oct 08, 2019, $*****
- Highlight: Editors' Pick
NLVC's Year-on-Year Investment Trends
NLVC has invested in 303 companies over the last 20 years, with an average of 13 new investments annually in the last 10 years. In 2025, it made 6 investments, while as of Jan 2026, it has made 1 investment in this year. Its most recent first time investment was in Vibrant Therapeutics and most recent follow-on round was in Sanegene.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 5 | 1 | 6 |
2024 | 3 | 1 | 4 |
2023 | 6 | 1 | 7 |
2022 | 10 | 3 | 13 |
2021 | 21 | 16 | 37 |
2020 | 14 | 9 | 23 |
2019 | 9 | 13 | 22 |
2018 | 31 | 9 | 40 |
2017 | 21 | 3 | 24 |
NLVC's Investments by Stage
NLVC has made 91 investments in Series A stage with an average round size of $21.6M, 46 investments in Series B stage with an average round size of $32.1M and 42 investments in Seed stage with an average round size of $8.35M.Stage of entry | No. of Investments |
|---|---|
Series A | 91 |
Series B | 46 |
Seed | 42 |
Series C | 15 |
Angel | 13 |
Others | 4 |
Note: We have considered here, only first round of investments
NLVC's Investments by Sector
NLVC has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, High Tech, Life Sciences and Semiconductors. Notably, it has invested in 217 Tech companies, 179 Enterprise (B2B) companies, 98 Software companies and at least 87 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 47 |
Consumer | 40 |
High Tech | 34 |
Life Sciences | 34 |
Semiconductors | 19 |
Others | 227 |
Note: We have considered here, only first round of investments
NLVC's Investments by Geography
NLVC has made most investments in China (164), followed by United States where it has made 31 investments.Country | No. of Investments |
|---|---|
China | 164 |
United States | 31 |
South Korea | 4 |
Japan | 2 |
France | 1 |
Others | 3 |
Note: We have considered here, only first round of investments
NLVC's recent investments
NLVC has made 1 investments in 2026 so far - Vibrant Therapeutics.Here are the most recent investments by NLVC:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jan 12, 2026 | China | Series C | 3398 | [+4] | |
Dec 19, 2025 | United States | Series A | 5899 | [+5] | |
Dec 08, 2025 | United States | Series B | 1990 | [+11] | |
Sep 04, 2025 | China | Series B | 2421 | - | |
Jul 28, 2025 | China | Seed | 6469 | [+9] |
Unicorns in NLVC's Portfolio
NLVC has 12 unicorns in its portfolio - TalkingData, Xiaoice, Huohua Siwei and others. The most recent unicorn in their portfolio is TalkingData. It became a unicorn in 2023, 9 years after NLVC first invested in it.Here is a list of unicorns in NLVC's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
50 | Provider of data analytics and marketing solutions for various industries | 2011 | Beijing | Series D | tudljeu | ||
41 | Platform offering emotional computing framework-based AI chatbot | 2014 | Beijing | Series B | rgmnvxo | ||
47 | Provider of AI-based online learning platform for students | 2016 | Beijing | Series E | pftbcas | ||
69 | Provider of an enterprise cloud storage management software | 2012 | Seattle | Series E | ylrecwx | ||
85 | Software-based equity management solutions | 2012 | San Francisco | Series G | pxmvgfc |
IPOs and Publicly Listed companies in NLVC's Portfolio
18 of NLVC's portfolio companies have become public. Zhejiang Laifu Harmonic Transmission got listed on the Hong Kong Exchanges (HKG), in Jun 2026 at marketcap of $1.13B and Shaanxi Micot Technology got listed on the Hong Kong Exchanges (HKG) at marketcap of $770M.Here are NLVC's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 30, 2026 | Mar 2018 | Series A | 7259 | |
Jun 24, 2026 | Oct 16, 2019 | Seed | 4776 | |
Sep 19, 2025 | Jan 27, 2021 | Series B | 4895 | |
Oct 08, 2024 | Jan 13, 2017 | Series C | 4649 | |
Aug 08, 2024 | Nov 2016 | Series A | 9657 |
Acquired companies in NLVC's Portfolio
25 companies from NLVC's portfolio have been acquired. The most recent acquisition was DerbySoft in Jun 2026 by Juniper Group for $*****.Here are NLVC's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 02, 2026 | 2009 | Series A | 3308 | |
Jan 02, 2026 | Mar 27, 2018 | Seed | 8233 | |
Apr 15, 2023 | Sep 25, 2020 | Series A | 3272 | |
Jan 03, 2022 | Jan 13, 2021 | Seed | 9865 | |
Apr 02, 2020 | Aug 04, 2015 | Series A | 7161 |
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Team profile of NLVC
NLVC has a team of 38 members including 12 Partners, 2 Venture Partners and 1 Principal located in China and United States. NLVC's team sits on the board of 1 company.Here is a list of top team members in NLVC:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | United States | - | ||
Partner | Chaoyang | - | - | |
Partner | China | - | - | |
Partner | Chaoyang | - | - | |
Partner | Menlo Park | - | - | |
Partner | Chaoyang | - | - | |
Partner | Beijing | - | - |
Co-investors of NLVC
Over the past 20 years, 721 investors have co-invested in NLVC's portfolio companies. This includes funds and angels.
- Invested before NLVC: IDG Capital, F-Prime Capital and 137 others have invested in rounds before NLVC. There are 5 companies where IDG Capital has invested before NLVC and 3 companies where F-Prime Capital has invested before NLVC.
- Top Co-investors of NLVC: 243 investors entered a company along with NLVC. These include investors like New Enterprise Associates (5 companies).
- Invested after NLVC: A total of 339 investors have invested in NLVC's portfolio after their investments. Top Investors include Tencent (8 companies), Yuanhe Holdings (6 companies) and Legend Capital (5 companies).
Recent News related to NLVC
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Vibrant Therapeutics Raises $61M and Appoints Han Lee, Ph.D. as Co-CEOBusiness Wire•Jan 12, 2026•Vibrant Therapeutics, HSG, Apricot Capital, NLVC and 2 others
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Andera Partners Leads $67 Million Series A Financing in Spiro Medical to Develop a Neuromodulation System for AsthmaWebDisclosure•Jan 07, 2026•Andera Partners, , Hero Corp, Sherpa Healthcare Partners and 4 others
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Cropcision Receives Seed Funding to Expand Plastic-Free Fertilizer Techigrownews.com•Nov 12, 2025•Umea Biotech Incubator, Cropcision, Umeå University, NLVC and 1 other
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VOC.AI Secures $15 Million in Fundingintelligence360•May 08, 2025•VOC, Shanda, NLVC, Unique Capital and 1 other
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VOC.AI Secures 15 Million Dollars Funding to Fuel Global Growth and Transform AI-Driven Customer Service SolutionsPR Newswire•Apr 29, 2025•VOC, Shanda, NLVC, Starting Gate Fund and 1 other
