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Cherubic Ventures is a global seed-stage venture capital fund founded in 2014. The firm operates from multiple locations, including San Francisco, Tokyo, Taipei, and Shanghai. Cherubic Ventures focuses on investing in pre-product/market fit startups, partnering with talented founders to support their growth from the earliest stages of their entrepreneurial journey.
As of now, Cherubic Ventures manages over $400 million in assets across its funds, with a notable Fund V launched in 2022, raising $110 million. The firm has invested in over 150 companies since its inception, achieving 10 unicorns and 27 successful exits. Cherubic Ventures is recognized for its dual-region investment strategy, targeting startups in both Greater China and the United States.
Cherubic Ventures invests in early-stage startups across various sectors, including consumer technology, healthcare, enterprise solutions, and blockchain. The firm is sector-agnostic and considers any company enabled by technology. Their typical investment size ranges from $500,000 to $1 million, and they often lead deals or co-invest alongside other investors.
The firm specifically targets startups in Greater China and the United States, emphasizing a unique approach that combines insights from both regions. Cherubic Ventures seeks to partner with founders who are at the pre-product/market fit stage, providing them with the necessary support and resources to navigate their early growth phases.
Cherubic Ventures has a diverse portfolio of notable companies, including:
Other notable investments include Astranis, a satellite internet company, and Photomath, an educational platform acquired by Google. Cherubic Ventures has also invested in companies like Bellabeat, Chaldal, and various startups in the Southeast Asian market.
Matt Cheng: Founder & Managing Partner. Matt is a serial entrepreneur who co-founded Tian-Ge in China and 91APP in Taiwan, both achieving over $1 billion in market cap. He started Cherubic Ventures after overcoming skepticism from potential LPs.
Tina Cheng: Partner. Tina is one of the earliest members of Cherubic Ventures, responsible for driving new investments and leading portfolio management globally. She has led significant deals including Calm and Hahow.
Danielle Dudum: Partner. Danielle brings extensive experience in venture capital and has been instrumental in sourcing and managing investments across various sectors.
Pierre Arys: Partner. Pierre focuses on technology-enabled startups and has a strong background in operational support for portfolio companies.
Snow Hua: Partner / Investor Relations. Snow manages investor relations and communications, ensuring alignment between the firm and its limited partners.
To pitch to Cherubic Ventures, founders should email bp@cherubic.com. It is recommended to include a comprehensive pitch deck that outlines the business model, market opportunity, and team qualifications. The firm typically responds within a few weeks, and warm introductions are preferred but not mandatory.
In May 2024, Cherubic Ventures participated in a $4 million seed round for ANZ, a company in the DeFi/Base ecosystem. Additionally, they invested $8 million in Terminal 3, focusing on data infrastructure.
Since its founding, Cherubic Ventures has achieved significant milestones, including 150+ portfolio companies and 10 unicorns. Notable exits include Hims & Hers, which went public in January 2021, and Paidy, acquired by PayPal for $2.7 billion.
What are Cherubic Ventures' investment criteria?
Cherubic Ventures focuses on early-stage startups that are technology-enabled, primarily in Greater China and the United States. They are sector-agnostic and look for companies that are pre-product/market fit.
How can I apply or pitch to Cherubic Ventures?
Founders can pitch their ideas by emailing bp@cherubic.com. It is advisable to include a detailed deck outlining the business model, market opportunity, and team background.
What makes Cherubic Ventures different from other VC firms?
Cherubic Ventures is known for its dual-region investment strategy, targeting both the US and Greater China. They focus on partnering with founders at the earliest stages, often being the first check into a startup.
What is the geographic scope of Cherubic Ventures?
The firm invests globally, with a strong emphasis on startups located in Greater China and the United States.
What is the typical fund size and check size?
Cherubic Ventures has over $400 million in total assets under management, with typical check sizes ranging from $500,000 to $1 million.
What kind of post-investment involvement does Cherubic Ventures have?
Cherubic Ventures actively supports its portfolio companies through mentorship, operational support, and follow-on investments, particularly as companies approach pre-IPO stages.
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