// SECTOR INVESTOR DOSSIER

Investors in Retail

122 investors with active positions in Retail unicorns — combined exposure across this sector $3,472B in paper valuation.

Note: combined paper valuation reflects overlapping investor positions — individual investors hold stakes in the same companies.

Goldman Sachs
INVESTMENT BANK
6 companies in sector · $370.8B
↑ 31% PORTFOLIO STRENGTH↓ 44% PORTFOLIO RISK
Tiger Global Management
VC FUND
5 companies in sector · $74.2B
↑ 16% PORTFOLIO STRENGTH↓ 26% PORTFOLIO RISK
Sequoia Capital China
VC FUND
4 companies in sector · $238.6B
↑ 23% PORTFOLIO STRENGTH↓ 44% PORTFOLIO RISK
IDG Capital
VC FUND
4 companies in sector · $238.3B
↑ 25% PORTFOLIO STRENGTH↓ 25% PORTFOLIO RISK
Tencent
CORPORATE
3 companies in sector · $183.3B
↑ 19% PORTFOLIO STRENGTH↓ 43% PORTFOLIO RISK
Temasek Holdings
SOVEREIGN
3 companies in sector · $22B
↑ 15% PORTFOLIO STRENGTH↓ 54% PORTFOLIO RISK
GGV Capital
VC FUND
3 companies in sector · $18.1B
↑ 9% PORTFOLIO STRENGTH↓ 35% PORTFOLIO RISK
SoftBank Vision Fund
VC FUND
3 companies in sector · $9.1B
↑ 5% PORTFOLIO STRENGTH↓ 53% PORTFOLIO RISK
Credit Suisse
INVESTMENT BANK
2 companies in sector · $360B
↑ 26% PORTFOLIO STRENGTH↓ 68% PORTFOLIO RISK
Morgan Stanley
INVESTMENT BANK
2 companies in sector · $207B
↑ 41% PORTFOLIO STRENGTH↓ 51% PORTFOLIO RISK
China Renaissance
VC FUND
2 companies in sector · $161B
↑ 33.3% PORTFOLIO STRENGTH↓ 55.6% PORTFOLIO RISK
General Atlantic
VC FUND
2 companies in sector · $67.2B
↑ 22% PORTFOLIO STRENGTH↓ 22% PORTFOLIO RISK
Hillhouse Capital
VC FUND
2 companies in sector · $12.6B
↑ 26.3% PORTFOLIO STRENGTH↓ 36.8% PORTFOLIO RISK
DST Global
VC FUND
2 companies in sector · $10.3B
↑ 25% PORTFOLIO STRENGTH↓ 30% PORTFOLIO RISK
Rocket Internet
VC FUND
2 companies in sector · $8.1B
↑ 0% PORTFOLIO STRENGTH↓ 50% PORTFOLIO RISK
Kinnevik
VC FUND
2 companies in sector · $8.1B
↑ 0% PORTFOLIO STRENGTH↓ 50% PORTFOLIO RISK
Access Industries
VC FUND
2 companies in sector · $8.1B
↑ 0% PORTFOLIO STRENGTH↓ 60% PORTFOLIO RISK
IDG Ventures India
VC FUND
2 companies in sector · $6.6B
Abu Dhabi Investment Authority
SOVEREIGN
2 companies in sector · $6.1B
↑ 0% PORTFOLIO STRENGTH↓ 50% PORTFOLIO RISK
Kedaara Capital
VC FUND
2 companies in sector · $6.1B
Alibaba Group
CORPORATE
2 companies in sector · $4.5B
↑ 17.6% PORTFOLIO STRENGTH↓ 64.7% PORTFOLIO RISK
Summit Partners
VC FUND
2 companies in sector · $4.1B
↑ 16.7% PORTFOLIO STRENGTH↓ 33.3% PORTFOLIO RISK
Accel
VC FUND
2 companies in sector · $3.1B
↑ 17% PORTFOLIO STRENGTH↓ 21% PORTFOLIO RISK
Kalaari Capital
VC FUND
2 companies in sector · $2.7B
↑ 40% PORTFOLIO STRENGTH↓ 40% PORTFOLIO RISK
Norwest Venture Partners
VC FUND
2 companies in sector · $2.5B
↑ 0% PORTFOLIO STRENGTH↓ 41.2% PORTFOLIO RISK
Sequoia Capital India
VC FUND
2 companies in sector · $2.1B
↑ 6% PORTFOLIO STRENGTH↓ 24% PORTFOLIO RISK
JPMorgan Chase
INVESTMENT BANK
1 company in sector · $200B
↑ 23% PORTFOLIO STRENGTH↓ 49% PORTFOLIO RISK
Citigroup
INVESTMENT BANK
1 company in sector · $200B
↑ 38.9% PORTFOLIO STRENGTH↓ 55.6% PORTFOLIO RISK
Deutsche Bank
INVESTMENT BANK
1 company in sector · $200B
↑ 37.5% PORTFOLIO STRENGTH↓ 50% PORTFOLIO RISK
SoftBank
VC FUND
1 company in sector · $200B
↑ 18.2% PORTFOLIO STRENGTH↓ 54.5% PORTFOLIO RISK
Gaorong Capital
VC FUND
1 company in sector · $160B
↑ 25% PORTFOLIO STRENGTH↓ 50% PORTFOLIO RISK
Lightspeed China Partners
VC FUND
1 company in sector · $160B
↑ 33.3% PORTFOLIO STRENGTH↓ 66.7% PORTFOLIO RISK
Mubadala Investment Company
SOVEREIGN
1 company in sector · $66B
↑ 28.6% PORTFOLIO STRENGTH↓ 42.9% PORTFOLIO RISK
ZhenFund
VC FUND
1 company in sector · $14B
↑ 25% PORTFOLIO STRENGTH↓ 50% PORTFOLIO RISK
Tiantu Capital
VC FUND
1 company in sector · $14B
Alibaba
CORPORATE
1 company in sector · $14B
↑ 25% PORTFOLIO STRENGTH↓ 25% PORTFOLIO RISK
Jinhai Capital
VC FUND
1 company in sector · $9.3B
European Founders Fund
VC FUND
1 company in sector · $7B
Tengelmann Ventures
VC FUND
1 company in sector · $7B
Holtzbrinck Ventures
VC FUND
1 company in sector · $7B
Investment AB Kinnevik
VC FUND
1 company in sector · $7B
JPMorgan
INVESTMENT BANK
1 company in sector · $7B
Wellington Management
VC FUND
1 company in sector · $5.7B
↑ 29.4% PORTFOLIO STRENGTH↓ 47.1% PORTFOLIO RISK
TCV
VC FUND
1 company in sector · $5.7B
↑ 29% PORTFOLIO STRENGTH↓ 25% PORTFOLIO RISK
Fidelity Management & Research Company
VC FUND
1 company in sector · $5B
↑ 18.2% PORTFOLIO STRENGTH↓ 0% PORTFOLIO RISK
TPG Growth
VC FUND
1 company in sector · $5B
↑ 44.4% PORTFOLIO STRENGTH↓ 33.3% PORTFOLIO RISK
ChrysCapital
VC FUND
1 company in sector · $5B
↑ 66.7% PORTFOLIO STRENGTH↓ 0% PORTFOLIO RISK
PremjiInvest
VC FUND
1 company in sector · $5B
↑ 0% PORTFOLIO STRENGTH↓ 33.3% PORTFOLIO RISK
Unilazer Ventures
VC FUND
1 company in sector · $5B
IFC
VC FUND
1 company in sector · $5B
↑ 0% PORTFOLIO STRENGTH↓ 0% PORTFOLIO RISK
Adveq
VC FUND
1 company in sector · $5B
TR Capital
VC FUND
1 company in sector · $5B
Aspex Management
VC FUND
1 company in sector · $3.3B
Insight Partners
VC FUND
1 company in sector · $3.1B
↑ 20% PORTFOLIO STRENGTH↓ 17% PORTFOLIO RISK
Kaszek Ventures
VC FUND
1 company in sector · $3.1B
↑ 8.3% PORTFOLIO STRENGTH↓ 8.3% PORTFOLIO RISK
Qualcomm Ventures
CORPORATE
1 company in sector · $3.1B
↑ 25% PORTFOLIO STRENGTH↓ 25% PORTFOLIO RISK
NXTP Ventures
VC FUND
1 company in sector · $3.1B
Qiming Venture Partners
VC FUND
1 company in sector · $3B
↑ 9.1% PORTFOLIO STRENGTH↓ 36.4% PORTFOLIO RISK
Secondary market transaction
VC FUND
1 company in sector · $3B
↑ 20% PORTFOLIO STRENGTH↓ 40% PORTFOLIO RISK
SAIF Partners
VC FUND
1 company in sector · $3B
↑ 0% PORTFOLIO STRENGTH↓ 25% PORTFOLIO RISK
Eurazeo
VC FUND
1 company in sector · $3B
↑ 12.5% PORTFOLIO STRENGTH↓ 25% PORTFOLIO RISK
Softbank China
VC FUND
1 company in sector · $3B
China Development Bank
VC FUND
1 company in sector · $3B
Groupe Arnault
VC FUND
1 company in sector · $3B
Spark Capital
VC FUND
1 company in sector · $2.5B
↑ 14% PORTFOLIO STRENGTH↓ 42% PORTFOLIO RISK
Battery Ventures
VC FUND
1 company in sector · $2.5B
↑ 13% PORTFOLIO STRENGTH↓ 22% PORTFOLIO RISK
Public offering
VC FUND
1 company in sector · $2.5B
↑ 14.3% PORTFOLIO STRENGTH↓ 85.7% PORTFOLIO RISK
Great Hill Partners
VC FUND
1 company in sector · $2.5B
HarbourVest Partners
VC FUND
1 company in sector · $2.5B
Wicklow Capital
VC FUND
1 company in sector · $1.7B
↑ 33.3% PORTFOLIO STRENGTH↓ 33.3% PORTFOLIO RISK
Various Venture Investors
VC FUND
1 company in sector · $1.7B
Gotham Green Partners
VC FUND
1 company in sector · $1.7B
Stable Road Capital
VC FUND
1 company in sector · $1.7B
Temasek
SOVEREIGN
1 company in sector · $1.6B
↑ 10% PORTFOLIO STRENGTH↓ 25% PORTFOLIO RISK
Orios Venture Partners
VC FUND
1 company in sector · $1.6B
Ascent Capital
VC FUND
1 company in sector · $1.6B
↑ 0% PORTFOLIO STRENGTH↓ 33.3% PORTFOLIO RISK
Chiratae Ventures
VC FUND
1 company in sector · $1.6B
Unilever Ventures
VC FUND
1 company in sector · $1.6B
↑ 0% PORTFOLIO STRENGTH↓ 66.7% PORTFOLIO RISK
Fidelity Investments
VC FUND
1 company in sector · $1.5B
↑ 37% PORTFOLIO STRENGTH↓ 59% PORTFOLIO RISK
Google Ventures
CORPORATE
1 company in sector · $1.5B
↑ 25% PORTFOLIO STRENGTH↓ 31.3% PORTFOLIO RISK
New Enterprise Associates
VC FUND
1 company in sector · $1.5B
↑ 12.5% PORTFOLIO STRENGTH↓ 62.5% PORTFOLIO RISK
Forerunner Ventures
VC FUND
1 company in sector · $1.5B
↑ 0% PORTFOLIO STRENGTH↓ 33.3% PORTFOLIO RISK
Bain Capital Ventures
VC FUND
1 company in sector · $1.5B
↑ 0% PORTFOLIO STRENGTH↓ 29% PORTFOLIO RISK
MentorTech Ventures
VC FUND
1 company in sector · $1.5B
Index Ventures
VC FUND
1 company in sector · $1.2B
↑ 15% PORTFOLIO STRENGTH↓ 15% PORTFOLIO RISK
Matrix Partners
VC FUND
1 company in sector · $1.2B
↑ 33.3% PORTFOLIO STRENGTH↓ 22.2% PORTFOLIO RISK
Partech
VC FUND
1 company in sector · $1.2B
↑ 33.3% PORTFOLIO STRENGTH↓ 33.3% PORTFOLIO RISK
Global Founders Capital
VC FUND
1 company in sector · $1.2B
↑ 0% PORTFOLIO STRENGTH↓ 25% PORTFOLIO RISK
R2G
VC FUND
1 company in sector · $1.2B
Japan's Softbank Capital
VC FUND
1 company in sector · $1.2B
Hudson's Bay Company
VC FUND
1 company in sector · $1.2B
SoftBank Vision Fund 2
VC FUND
1 company in sector · $1.1B
↑ 3% PORTFOLIO STRENGTH↓ 14% PORTFOLIO RISK
Boyu Capital
VC FUND
1 company in sector · $1.1B
↑ 25% PORTFOLIO STRENGTH↓ 25% PORTFOLIO RISK
GIC Private Limited
VC FUND
1 company in sector · $1.1B
↑ 11.1% PORTFOLIO STRENGTH↓ 44.4% PORTFOLIO RISK
BlackRock
VC FUND
1 company in sector · $1.1B
↑ 10% PORTFOLIO STRENGTH↓ 24% PORTFOLIO RISK
Warburg Pincus
VC FUND
1 company in sector · $1.1B
↑ 7.1% PORTFOLIO STRENGTH↓ 50% PORTFOLIO RISK
Premji Invest
VC FUND
1 company in sector · $1.1B
↑ 0% PORTFOLIO STRENGTH↓ 16.7% PORTFOLIO RISK
Blume Ventures
VC FUND
1 company in sector · $1.1B
↑ 0% PORTFOLIO STRENGTH↓ 50% PORTFOLIO RISK
Nexus Venture Partners
VC FUND
1 company in sector · $1.1B
↑ 0% PORTFOLIO STRENGTH↓ 55.6% PORTFOLIO RISK
Helion Venture Partners
VC FUND
1 company in sector · $1.1B
↑ 0% PORTFOLIO STRENGTH↓ 33.3% PORTFOLIO RISK
Hoxton Ventures
VC FUND
1 company in sector · $1.1B
Viola Growth
VC FUND
1 company in sector · $1.1B
Qoo10
VC FUND
1 company in sector · $1.1B
Tengelmann Group
VC FUND
1 company in sector · $1.1B
Frankfurt Stock Exchange listing
VC FUND
1 company in sector · $1.1B
JSW Ventures
VC FUND
1 company in sector · $1.1B
Horizons Ventures
VC FUND
1 company in sector · $1B
↑ 12.5% PORTFOLIO STRENGTH↓ 50% PORTFOLIO RISK
Flybridge Capital Partners
VC FUND
1 company in sector · $1B
↑ 0% PORTFOLIO STRENGTH↓ 0% PORTFOLIO RISK
Steadview Capital
VC FUND
1 company in sector · $1B
↑ 18.8% PORTFOLIO STRENGTH↓ 31.3% PORTFOLIO RISK
B Capital Group
VC FUND
1 company in sector · $1B
↑ 15.4% PORTFOLIO STRENGTH↓ 7.7% PORTFOLIO RISK
SoftBank Latin America Fund
VC FUND
1 company in sector · $1B
↑ 8.3% PORTFOLIO STRENGTH↓ 8.3% PORTFOLIO RISK
Valor Capital Group
VC FUND
1 company in sector · $1B
↑ 0% PORTFOLIO STRENGTH↓ 0% PORTFOLIO RISK
Berkshire Partners
VC FUND
1 company in sector · $1B
Orchid Asia Group Management
VC FUND
1 company in sector · $1B
Southern Capital
VC FUND
1 company in sector · $1B
Alpha JWC Ventures
VC FUND
1 company in sector · $1B
↑ 0% PORTFOLIO STRENGTH↓ 33.3% PORTFOLIO RISK
Kunlun Group
VC FUND
1 company in sector · $1B
Arrive
VC FUND
1 company in sector · $1B
Tybourne Capital Management
VC FUND
1 company in sector · $1B
Monashees Capital
VC FUND
1 company in sector · $1B
Radar Investimentos
VC FUND
1 company in sector · $1B
Dynamo Administração de Recursos
VC FUND
1 company in sector · $1B

Investors in Retail

Goldman Sachs

Tiger Global Management

Sequoia Capital China

IDG Capital

Tencent

Temasek Holdings

GGV Capital

SoftBank Vision Fund

Credit Suisse

Morgan Stanley

China Renaissance

General Atlantic

Hillhouse Capital

DST Global

Rocket Internet

Kinnevik

Access Industries

IDG Ventures India

Abu Dhabi Investment Authority

Kedaara Capital

Alibaba Group

Summit Partners

Accel

Kalaari Capital

Norwest Venture Partners

Sequoia Capital India

JPMorgan Chase

Citigroup

Deutsche Bank

SoftBank

Gaorong Capital

Lightspeed China Partners

Mubadala Investment Company

ZhenFund

Tiantu Capital

Alibaba

Jinhai Capital

European Founders Fund

Tengelmann Ventures

Holtzbrinck Ventures

Investment AB Kinnevik

JPMorgan

Wellington Management

TCV

Fidelity Management & Research Company

TPG Growth

ChrysCapital

PremjiInvest

Unilazer Ventures

IFC

Adveq

TR Capital

Aspex Management

Insight Partners

Kaszek Ventures

Qualcomm Ventures

NXTP Ventures

Qiming Venture Partners

Secondary market transaction

SAIF Partners

Eurazeo

Softbank China

China Development Bank

Groupe Arnault

Spark Capital

Battery Ventures

Public offering

Great Hill Partners

HarbourVest Partners

Wicklow Capital

Various Venture Investors

Gotham Green Partners

Stable Road Capital

Temasek

Orios Venture Partners

Ascent Capital

Chiratae Ventures

Unilever Ventures

Fidelity Investments