“Queen of Venture Capital” Xu Xin Splashes $300M to Reclaim Missed Chance

Deal Summary
- Today Capital acquired ByteDance shares for $300M (original price $200M)
- ByteDance valuation rises to $480B
- Seven bidders participated; one of the largest secondary market deals of 2025
Background & Motivation
- Xu Xin previously missed investing in TikTok (price quoted at $7B)
- Today Capital re-enters amid AI business growth and global expansion
- ByteDance AI investment in 2025 expected at RMB 150–160B
Xu Xin’s Investment Track Record
- Key successful investments: Wahaha, NetEase, JD.com, Meituan
- Entered investment industry in 1995, founded Today Capital in 2005
- Today Capital manages ~$3B in funds, invested in 60+ companies
Wealth & Recognition
- Xu Xin net worth: RMB 14B (Hurun 2025 ranking #481)
- Dubbed “Queen of Venture Capital” and “Female Buffett”

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