{{Short description|China-based venture capital firm}} {{Use dmy dates|date=December 2023}} {{Infobox company | name = 5Y Capital Management Limited | native_name = 五源资本 | former_name = Morningside Venture Capital (晨兴资本) | logo = 5Y Capital Logo.svg | type = [[Privately held company|Private]] | industry = [[Venture Capital]] | predecessor = | founded = 2008 | hq_location = Wuyuan Road, [[Shanghai]], [[China]] | founders = Shi Jianming (Ken)<Br>Liu Qin (Richard) | products = [[Investments]] | aum = $5&nbsp;billion (31 March 2021)<ref name="Nikkei">{{cite web |title=Xiaomi backer closes $2bn worth of dollar and yuan funds |url=https://asia.nikkei.com/Spotlight/DealStreetAsia/Xiaomi-backer-closes-2bn-worth-of-dollar-and-yuan-funds |website=Nikkei Asia |access-date=30 May 2021 |archive-date=30 May 2021 |archive-url=https://web.archive.org/web/20210530230734/https://asia.nikkei.com/Spotlight/DealStreetAsia/Xiaomi-backer-closes-2bn-worth-of-dollar-and-yuan-funds |url-status=live }}</ref> | assets = | website = [http://5ycap.com/ www.5ycap.com] | footnotes =<ref name="ADV">{{cite web |title=Form ADV |url=https://reports.adviserinfo.sec.gov/reports/ADV/299614/PDF/299614.pdf |website=SEC |access-date=24 November 2022 |archive-date=24 November 2022 |archive-url=https://web.archive.org/web/20221124130108/https://reports.adviserinfo.sec.gov/reports/ADV/299614/PDF/299614.pdf |url-status=live }}</ref><ref name="Wire">{{cite web |last1=Reale |first1=Hannah |title=Who Is 5Y Capital? |url=https://www.thewirechina.com/2021/07/18/who-is-5y-capital/ |website=The Wire China |date=18 July 2021}}</ref> }}

'''5Y Capital''' ({{Zh|c=|p=Wǔyuán zīběn|s=五源资本}}) is a [[Shanghai]]-based [[venture capital]] firm founded in 2008. It was previously known as Morningside Venture Capital before it rebranded in October 2020.<ref name=":2">{{cite web |last1=Ku |first1=Larissa |title=Morningside Venture Capital rebrands as 5Y Capital |date=22 October 2020 |url=https://www.avcj.com/avcj/news/3021501/morningside-venture-capital-rebrands-as-5y-capital |access-date=30 May 2021 |archive-date=2 June 2021 |archive-url=https://web.archive.org/web/20210602214436/https://www.avcj.com/avcj/news/3021501/morningside-venture-capital-rebrands-as-5y-capital |url-status=live }}</ref><ref name=":0">{{Cite news|last=Chen|first=Lulu Yilun|title=Venture Firm That Made $30 Billion on Chinese Video App Plans New Fund|url=https://www.bloomberg.com/news/articles/2021-02-18/venture-firm-that-made-30-billion-on-kuaishou-plans-new-fund|url-status=live|access-date=30 May 2021|newspaper=Bloomberg|date=18 February 2021 |archive-url=https://web.archive.org/web/20210218051645/https://www.bloomberg.com/news/articles/2021-02-18/venture-firm-that-made-30-billion-on-kuaishou-plans-new-fund |archive-date=18 February 2021 }}</ref><ref name="Wire"/>

== Background == 5Y Capital was founded in 2008 by Ken Shi and Richard Liu under the name, Morningside Venture Capital.<ref name="Nikkei"/><ref name="Wire" /><ref name=":1">{{Cite web|title=Chinese Venture Capital Firm Morningside Venture Capital Becomes 5Y Capital -Asian Wealth Management and Asian Private Banking|url=https://hubbis.com/news/chinese-venture-capital-firm-morningside-venture-capital-becomes-5y-capital|date=3 November 2020|website=Hubbis.com|access-date=30 May 2021|archive-date=2 June 2021|archive-url=https://web.archive.org/web/20210602214023/https://hubbis.com/news/chinese-venture-capital-firm-morningside-venture-capital-becomes-5y-capital|url-status=live}}</ref>

Prior to founding the firm, Liu and Shi worked as [[investment]] professionals at the Morningside Group, a family office founded in 1986 by [[Gerald Chan]] and his family. The Chan family currently runs the [[Hang Lung Group]] in [[Hong Kong]].<ref name="Wire" />

As a gesture of support, Morningside Group authorized the firm to use the 'Morningside' brand in its operations as well as being a key investor in the firm.<ref name="Wire" /><ref name=":1" />

In October 2020, the firm rebranded to 5Y Capital. The name comes from 'Wuyuan Road' which is the street where the firm has been headquartered since its inception.<ref name="Nikkei"/><ref name=":2" /><ref name=":0" />

In 2021, Bloomberg reported that the firm was seeking to raise a new fund, and that it had delivered a $30&nbsp;billion return on its investment in [[Kuaishou]].<ref name="2021-www.bloomberg.com">{{cite news|url=https://www.bloomberg.com/news/articles/2021-02-18/venture-firm-that-made-30-billion-on-kuaishou-plans-new-fund#xj4y7vzkg|title=Venture Firm That Made $30 Billion on Chinese Video App Plans New Fund|date=2021|newspaper=Bloomberg|publisher=|access-date=16 March 2024|archive-date=18 February 2021|archive-url=https://web.archive.org/web/20210218051645/https://www.bloomberg.com/news/articles/2021-02-18/venture-firm-that-made-30-billion-on-kuaishou-plans-new-fund#xj4y7vzkg|url-status=live}}</ref> It closed a number of funds after reaching hard caps that year.<ref name="2021-asia.nikkei.com">{{cite web|url=https://asia.nikkei.com/Spotlight/DealStreetAsia/Xiaomi-backer-closes-2bn-worth-of-dollar-and-yuan-funds|title=Xiaomi backer closes $2bn worth of dollar and yuan funds|date=2021|website=asia.nikkei.com|publisher=|access-date=30 May 2021|archive-date=30 May 2021|archive-url=https://web.archive.org/web/20210530230734/https://asia.nikkei.com/Spotlight/DealStreetAsia/Xiaomi-backer-closes-2bn-worth-of-dollar-and-yuan-funds|url-status=live}}</ref>

In November 2023, it was reported that 5Y Capital was on track to surpass its target of raising $700 million for its new fund. This came when fundraising during the year had significantly declined due to various factors such as the [[China–United States trade war]] that limited US investments in Chinese firms.<ref>{{Cite web |last=Huang |first=Zheping |date=November 29, 2023 |title=Early Xiaomi Backer to Surpass Funding Goal in Major China Test |url=https://www.bloomberg.com/news/articles/2023-11-29/early-xiaomi-backer-to-surpass-funding-goal-in-major-china-test |website=Bloomberg News}}</ref>

==Investment model== 5Y Capital focuses on early-stage [[Venture capital financing|venture investments]] in different sectors.<ref name="Nikkei"/><ref name="Wire" />

Notable investments include [[Xiaomi]], [[Kuaishou]], [[SenseTime]], [[Pony.ai]] and [[XPeng]].<ref name="Nikkei" /><ref name="Wire" /><ref name=":0" />

==References== {{reflist}}

==External links== * [https://www.5ycap.com/ Official Website]

{{Private equity and venture capital}}

{{authority control}}

[[Category:Chinese companies established in 2008]] [[Category:Financial services companies established in 2008]] [[Category:Investment management companies of China]] [[Category:Venture capital firms of China]] [[Category:2008 establishments in China]]