HISTORICAL P100 / #9

Shein

E-commerce & Fashion · Singapore

Historical ranking valuation$60.0BSource snapshot: Jun 19, 2026

Disclosed primary funding in this record

Not established

Sum of non-overlapping disclosed USD amounts in confirmed primary financing entries in this record, including separately labeled equity components; not verified lifetime funding. Excludes amounts already included in a later round, announced, reported, database-only, debt, secondary and unclassified events.

0 confirmed primary rounds with disclosed USD amounts · Record through 2026-09-29

THE BUSINESS

Get to know Shein.

SHEIN sells fashion and lifestyle products online. It describes a technology-supported supply chain that tests designs in small batches and reorders in response to demand; this historical catalog entry does not imply SHEIN remains privately held.

SHEIN investor-relations company overview ↗Source checked Sep 22, 2026

Valuation history

Valuations reported at the time of each round.

May 17, 2023US$66B reported round valuationReported May 2023 financing · ReportedSource ↗

2022US$100B reported round valuationReported 2022 financing (series unresolved) · ReportedSource ↗

Funding history

Funding rounds, debt and other financing events.

4sourced events · record as of 2026-09-29

SHEIN says it completed its Hong Kong Stock Exchange IPO on September 1, 2026 (stock code 00625). This page preserves its historical private-financing observations, but the June 2026 source rank is a dated snapshot, not eligibility for a current private-company P100. General Atlantic dates its first direct investment to 2022 and calls it Series D; linkage to the reported 2022 financing or imported 2019 Series D is unresolved. That investor observation is not a separately counted raise or current retained balance. The 2022 and May 2023 financings are reported, not issuer-confirmed; six database-only financing claims remain unresolved. Their amounts are not a verified lifetime total. The reported range has no exact dollar midpoint in totals. January negotiations are not a second verified raise. This is not an independently reviewed complete history or shareholder register. The IPO is not a private round and is not included in primary-private capital.

Sep 1, 2026LATEST SOURCED

other

HKEX public listing / IPO

Investors undisclosed

AmountNot counted as private fundingValuationUndisclosed

May 17, 202303

primary

Reported May 2023 financing

General Atlantic (lead) · Sequoia China (lead) · Mubadala (lead) · Tiger Global Management · Coatue Management

May 17 Reuters report of Wall Street Journal reporting supplies the observation date, not an authenticated closing day. The May 18 GPCA summary of the same story attributes the three leads and Tiger Global/Coatue participation; these are not independent confirmations. Reuters report: https://www.investing.com/news/stock-market-news/fashion-giant-shein-raises-2-billion-but-lowers-valuation-by-a-third-wsj-3084504 . Sequoia China is the contemporaneous reported brand, not two additive HSG/HongShan investments. Exact subscribing vehicles, allocations, share classes, quantities and current holdings are unknown. The imported pooled database backers do not prove participation in this round. Reported fundraising and its valuation are separate values; neither establishes a complete cap table or issuer-confirmed proceeds. Links and original summaries are not captured/licensed source originals.

AmountUS$2B reportedValuationUS$66B reported round valuation

202202

primary

Reported 2022 financing (series unresolved)

General Atlantic · Tiger Global Management · Sequoia Capital China

Source published Apr 6, 2022; not a financing date

The dated April 6 report says the round closed in the prior week; exact financing day/month is unresolved. January 1 anchors year precision, not settlement. The range is not a verified $1.5B midpoint or issuer-confirmed proceeds. Lead role, series label, allocations, subscribing vehicles/classes and current holdings remain unknown. The same reporters' WSJ version is the same story, not independent confirmation: https://www.wsj.com/business/retail/shein-valued-at-100-billion-in-funding-round-11649126740 . Axios's April 4 account reports $1B: https://www.axios.com/pro/retail-deals/2022/04/04/fast-fashion-giant-shein-raises-1-billion-at-100-billion-valuation . The exact amount conflict remains unresolved; these are not additive rounds. The imported April 4 date, Series F label and $1.5B claim from https://www.clay.com/dossier/shein-funding are not authenticated. This is historical participation, not current ownership or saleable inventory.

AmountUS$1B–2B reported range; exact amount unresolvedValuationUS$100B reported round valuation

202201

other

GA first direct investment (investor-described Series D)

General Atlantic

The investor's undated original portfolio page states 2022 as its first direct investment year and describes that investment as Series D. Only that dated historical participation statement is source-confirmed. January 1 is a year-precision anchor, not an exact financing or closing day; source publication date is undisclosed. The database separately labels a 2022 claim Series F and a 2019 claim Series D. Event linkage and the series-label conflict remain unresolved; this observation is not an additional raise and does not itself authenticate either imported series label. The separately reported 2022 package remains Reported. The page discloses no primary/secondary allocation, amount, valuation, exact subscribing fund/SPV, share class, share quantity, seller, LP or current retained balance. General Atlantic's listed firm is not a named legal subscribing vehicle, and its LPs are not direct SHEIN owners. Historical participation does not prove current ownership or saleable inventory.

AmountUndisclosed; financing linkage unresolvedValuationUndisclosed

Unverified database leads (6)

These database claims have not been independently verified and are excluded from the sourced-event count.

Jan 31, 2023UNVERIFIED

other