Crystal Stream Capital is a Beijing-based venture capital firm founded in 2013 that specializes in early-stage investments in the TMT (technology, media, and telecommunications) sector. The team consists of former executives from top internet companies and supports entrepreneurs with both capital and operational expertise.
Their most common stage is series-a (67% of deals). Average disclosed round size is $43.8M (across 5 rounds with reported amounts).
Portfolio
6
Fund Size
—
Top Stage
Series A
Last 12 Mo
0
Team
Liu Bo
Partner
Liu Pan
Operating Partner
Wang Mengqiu
Fouding Partner
Mao Yuhao
VP
Tao Kai
VP
AL
Amy Liu
Partner
RS
Ray Shi
Associate
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
6 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 MaxAB | Series A | $15M | Aug 2021 |
 Energy Monster | Ipo | $150M | Jan 2017 |
 Blued | Series A | $1.6M | Feb 2014 |
| DDP Technology | Seed | — | — |
| RRobot Era | Series A | $42.2M | — |
| CChampzee | Series A | $10M | — |
Top Co-Investors
Vision Plus Capital3 shared
Sky9 Capital2 shared
Alibaba Group Holding Ltd.2 shared
BECO Capital1 shared
Endeavor1 shared
TPG Rise1 shared
Flourish Ventures1 shared
4DX Ventures1 shared
InnoVen Capital1 shared
Shunwei Capital1 shared
SoftBank Group Corp.1 shared
SoftBank Vision Fund1 shared
Xiaomi1 shared
Ventech1 shared
Source Code Capital1 shared
IDG Capital1 shared
Gaocheng Capital1 shared
Woori Venture Partners1 shared
Singtel Innov81 shared
Last updated: 8 September 2026