From Morningside Ventures to 5Y Capital: A Shanghai-Based Investment Powerhouse's Evolution

When a venture capital firm decides to rebrand after more than a decade of operations, it’s rarely just cosmetic. The transformation of Morningside Venture Capital into 5Y Capital in October 2020 represents something far more meaningful—a shift reflecting the firm’s scale, ambitions, and unwavering connection to its roots.

A Twelve-Year Journey Rooted in Crisis and Vision

Founded in 2008 during the global financial meltdown, what would become known as Morningside ventures started as a bold experiment. Richard Liu and Ken Shi, both seasoned investment professionals who had worked under the Chan family’s private investment umbrella, took the leap to establish their own fund with co-founder Gerald Chan. The Chan family’s support was instrumental—Morningside Group not only backed the venture but granted the fledgling operation permission to carry the prestigious “Morningside” brand.

For over a decade, the firm steadily expanded its footprint. By 2020, it had grown to encompass 35+ team members, managing approximately USD 3 billion across dual-currency funds denominated in both USD and RMB. The portfolio tells the story of disciplined, strategic deployment: Joyy (NASDAQ: YY), Xiaomi Corporation (HK: 01810), Kuaishou, Kingsoft Office (SH: 688111), Agora (NASDAQ: API), Xpeng Motors (NYSE: XPEV), and Pony.ai all benefited from the firm’s multi-stage investment approach.

The Name Behind the Name

The rebranding to 5Y Capital carries symbolic weight embedded in Shanghai’s geography. “5Y” blends the numeral 5 (derived from “Wuyuan Road,” where “wu” means five in Mandarin) with the letter Y from “yuan.” Wuyuan Road—a picturesque one-way street in Shanghai—has been the firm’s headquarters since inception. This naming choice wasn’t arbitrary; it encapsulates a philosophy: wherever the firm ventures globally, it remains anchored to its origins, its principles, and its stakeholders.

Beyond the Brand: An Investment Evolution

“This is not simply a corporate rebranding exercise,” emphasized Richard and Ken when announcing the shift. “It reflects our constantly evolving investment methodology and our commitment to partner with exceptional entrepreneurs.” The values instilled by the Chan family—integrity, independent thinking, and long-term vision—continue to guide decision-making.

With updated corporate identity and digital presence at www.5ycap.com/en/, 5Y Capital officially transitioned all business operations under its new banner. Morningside Group, the family office that catalyzed the original morningside ventures, retained its position as a principal investor, underscoring the continuity beneath the transformation.

The rebranding of Morningside Venture Capital into 5Y Capital marks not an ending, but a maturation—a venture capital firm confident enough to define itself on its own terms while honoring the heritage that built it.