Cherubic Ventures held its 10th anniversary annual summit on Wednesday (October 8, 2025) in Taipei, bringing together more than one hundred leading global institutional investors, family offices, and startup founders to celebrate the milestone.
Since its founding in 2015 and the launch of its inaugural fund, Cherubic Ventures has raised a total of five funds over the past decade, with assets under management (AUM) reaching US$462 million. To date, the firm has completed five initial public offerings (IPOs) and fifteen mergers and acquisitions (M&A), with its global portfolio companies now collectively valued at more than US$52 billion.
These portfolio companies have attracted over US$2 billion in follow-on investments from top-tier global investors, underscoring Cherubic Ventures’ early and decisive positioning in artificial intelligence and frontier technologies. The track record also reflects the firm’s strength in early-stage investing—demonstrating its ability to commit with conviction before market consensus forms, and to help create long-term value.
Beyond its continued focus on AI-driven startups, Cherubic Ventures’ sixth fund places an emphasis on technologies that strengthen human potential. Matt Cheng, Founding Managing Partner of Cherubic Ventures, stated:
“AI is not only about improving efficiency or replacing repetitive work. More importantly, it has the power to unlock human creativity and imagination. When everyone gains access to AI superpowers, we will enter an era of explosive innovation. We hope to stand alongside the world’s most exceptional founders and help turn more possibilities into reality.”
Over the past ten years, Cherubic Ventures has witnessed countless startups grow from a single idea into companies that reshape entire industries. Looking ahead, the firm will continue to anchor itself in early conviction, seeking and igniting the next sparks of innovation.
Founded in Taipei, Cherubic Ventures has successfully penetrated the core of Silicon Valley’s venture capital and startup ecosystem, and is recognized as one of the world’s earliest venture firms to adopt the Solo GP (single general partner) model. Over the past decade, it has grown into one of the most active and largest Solo GP funds globally, both in terms of the number of funds raised and total fund size.
During this period, Cherubic Ventures has invested in multiple companies valued at over US$1 billion and US$10 billion. Representative investments include Hims & Hers, a U.S.-based telehealth leader now listed on the New York Stock Exchange with a market capitalization exceeding US$10 billion; Flexport, a pioneer in the digital transformation of global logistics backed by over US$1 billion from SoftBank Vision Fund and Shopify; Astranis, a U.S. satellite startup and Taiwan’s first dedicated satellite strategic partner, which has received over US$115 million in investment from Chunghwa Telecom; and Paidy, which was ultimately acquired by PayPal for US$2.7 billion.
The portfolio also includes 91APP, Taiwan’s first SaaS company to go public with a valuation exceeding US$1 billion. Cherubic Ventures was not only an early investor in these companies, but in many cases, the first to believe in the founders before any product existed.
Matt Cheng commented:
“Even today, it is still hard for me to believe that a crazy idea born in Taipei ten years ago could come this far. We have been fortunate to stand alongside world-class founders and investors, and to be the first believers before markets were proven. It is this conviction that has allowed us to witness dream after dream becoming reality. Over the next decade, we will continue to seek out founders who can change the world and open the next chapter.”
The summit also featured on-site sharing from representatives of several portfolio and partner companies, including Photomath, the globally renowned AI-powered math-solving application acquired by Google; MagicLabs, led by PayPal Ventures; Andrew Dudum, founder of Hims & Hers; Ryan Petersen, founder of Flexport; and Rick Fox, a three-time NBA champion who has since transitioned into climate tech entrepreneurship.
Looking ahead, the global AI industry has entered a phase of explosive entrepreneurship and investment. In 2024, Cherubic Ventures officially launched its sixth fund (Fund VI) and has already deployed capital into multiple critical technologies driving industry transformation. These include Hillbot AI, which is developing intelligent robots capable of executing diverse tasks with flexibility; Titan Dynamics, which leverages 3D printing to build next-generation drones for strategic applications; and in healthcare, Max AI, an AI-driven platform automating medical billing and often described as “the Stripe of healthcare.”
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