Decheng Capital

Min Cui, who holds a PhD, is founder and managing director and is the one constant across every Decheng Form D since 2011, from the first China life sciences fund through Global Life Sciences Fund V. Victor Tong Jr. and Peter Colabuono are managing directors. The partner group is Dayton Misfeldt, Tony Tong and Qiang Xu, each holding a doctorate in Tong's and Xu's case, and Wei Xu. Fengying Yu was named alongside Cui on the Fund IV filing and Yuheng Qiu on Fund V, indicating both carry general partner responsibilities. Nick Pliam, an MD and PhD, is a venture partner, Aaron Li is a principal, and the vice president bench is Shengyang Jin, Michael Notaras and Joan Chen, all with doctorates, with Claire Zhang as senior associate. The scientific density of the roster matches a portfolio built almost entirely around therapeutics and life-science tools.

Decheng has raised at least six funds since 2011, all filed with the SEC. Decheng Capital China Life Sciences USD Fund I began selling in December 2011 and closed at $123.0 million against a $125 million offering, with Bay City Capital and DT Capital Management named as affiliates on the filing. Fund II followed in August 2015 at $250 million and Fund III in April 2018 at $450 million. The firm then broadened its mandate geographically: Decheng Capital Global Life Sciences Fund IV filed a $650 million offering in December 2020, and Global Life Sciences Fund V filed a $700 million offering in June 2024, of which $452 million had been sold by October 2025, alongside parallel V-A and V-B vehicles.

A separate evergreen vehicle, Decheng Capital Global Healthcare Fund, has sold $139 million on an indefinite offering since November 2020 and files annual amendments from Menlo Park. The firm states it manages more than $2.5 billion. Min Cui is the named related person on every filing across the entire fund series.