Mr. Shao is a co-founder and Chairman of Evolve, a philanthropic investment firm composed of a foundation, Evolve Foundation, and an impact investment firm, Evolve Ventures. With an initial capital of $100 million from the Shao family, Evolve aims to support organizations that relieve inner suffering and facilitate inner transformation.
Prior to Evolve, Mr. Shao was a founding partner of Matrix China, a leading technology venture capital firm in China, which manages over $7 billion dollars and has funded over 500 companies, 50 of which have become unicorns. Mr. Shao is also a serial entrepreneur and co-founded EachNet, BabyTree, NovaMed, Nuance Biotech, and Parent Lab. EachNet became the dominant consumer e-commerce company in China under his leadership and was acquired by eBay (NASDAQ: EBAY) in 2003 in a landmark transaction. BabyTree (HKSE: 1761) was the leading parenting community in China with over 100 million monthly visitors.
Mr. Shao was born in China and was a winner of national mathematics competitions over a dozen times during high school. He left China when he was 17 years old for Harvard College on a full scholarship, one of the first such scholarships Harvard granted to a person from mainland China. After receiving a BA, summa cum laude, in physics and electrical engineering from Harvard College, he worked for the Boston Consulting Group and Goldman Sachs, and received his MBA from the Harvard Business School.
Mr. Shao is a recognized young business leader in China and the recipient of awards in China and abroad, including Young Global Leaders 2005 of the World Economic Forum and Entrepreneur of the Year 2003 by Asian Venture Capital Journal.