Startup funnel
Shenzhen's startup funnel
Companies headquartered in Shenzhen at each stage today, by total VC raised. Hover or tap a bar for the split.
Source: Dealroom.co
Quarterly report
Shenzhen's latest quarter in venture capital
Venture capital raised by Shenzhen-headquartered companies each quarter since 2020, split by round size, with detail on the latest complete quarter.
Latest complete quarter
Loading VC raised by Shenzhen-headquartered companies…
Enterprise value
How much Shenzhen’s VC-backed companies are worth
Combined enterprise value of VC-backed companies headquartered in Shenzhen, founded since 1990 and still operating, at the end of each year. Companies stay in the total after they list or are acquired.
VC investment
How much venture capital flows into Shenzhen
VC investment into Shenzhen-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.
Largest rounds
Largest funding rounds in Shenzhen
A live treemap of the largest VC rounds. Each cell is one round into Shenzhen-headquartered companies, grouped by Dealroom sector.
Largest rounds in Shenzhen - 2026
Academia
Shenzhen's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Shenzhen.
| # | University | City | Based here | Companies |
|---|---|---|---|---|
| 1 | 🇨🇳Tsinghua University | Beijing | 24 | 906 |
| 2 | 🇨🇳Peking University | Beijing | 14 | 659 |
Location comparison
How Shenzhen stacks up
Compare Shenzhen with peers from the same country (China) — switch between combined EV, EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top cities in China ranked by combined EV. Shenzhen's row is highlighted (#5).
| # | Ecosystem | Combined EV | EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | Yangtze Delta Region | $2.1T | 2.7× | 222 | $10.2B | 7,096 |
| 2 | Jingjinji Metropolitan Region | $1.7T | 3.6× | 182 | $6.8B | 4,525 |
| 3 | Beijing | $1.6T | 3.5× | 178 | $6.7B | 4,339 |
| 4 | Shanghai | $1T | 5.0× | 141 | $4.7B | 3,601 |
| 5 | Shenzhen | $1T | 1.9× | 54 | $2.3B | 2,275 |
| 6 | Hangzhou | $627B | 1.2× | 38 | $2.2B | 1,462 |
| 7 | Guangzhou | $182B | 14.5× | 17 | $891.8M | 1,547 |
| 8 | Nanjing | $107B | 7.1× | 11 | $338.4M | 491 |
| 9 | Suzhou | $93.4B | 18.0× | 14 | $1.1B | 653 |
| 10 | Wuhan | $32.4B | 4.7× | 8 | $435.9M | 350 |
| 11 | Chengdu | $30.8B | 24.6× | 5 | $410.2M | 406 |
| 12 | Chongqing | $24.4B | 15.0× | 5 | $1B | 178 |
More data
Explore Dealroom data →Get the full Shenzhen ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.