Morningside Venture Capital Changes Name To 5Y Capital
Morningside Venture Capital has changed its name to 5Y Capital.
The firm was started in 2008 during the financial crisis by Richard Liu, Ken Shi and Gerald Chan under the auspices of Morningside Group. Prior to its founding, Liu and Shi worked as investment professionals at Morningside Group, a private investment group founded by the Chan family of Hong Kong. When they spun off the MSVC operation from the family office and set up the Morningside TMT funds, Morningside Group became the anchor investor and authorized them to use the "Morningside" brand in its operations. The group remains one of 5Y Capital's investors.
"The Chan family has led us all the way into the industry. Dr. Gerald Chan, co-founder of Morningside Group, taught us great values such as integrity, independent thinking, etc., which had a profound impact on us," said Liu and Shi.
The new name "5Y" is a combination of the number 5 in the Chinese name of "Wuyuan Road" (wu means 5 in Chinese) and the first letter of yuan. The firm says that the change reflects not just a name change but more an evolution of its investment strategies.
"5Y Capital was co-founded by our team. I hope that with our constantly evolving team and investment methodology, we will be able to partner with more and more great entrepreneurs, help them tap into their unique advantages and achieve greatness," said Liu.
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