If wisdom lacks the courage of execution, it is all in vain | 5Y News Monthly
The big news from last month.
5Y News Monthly
"5Y News Monthly" is a regular column from 5Y Capital. At the start of each month, we look back at news from the past month involving 5Y and our portfolio companies, sharing it with friends who follow us. We hope it helps you get to know us better.
01 Portfolio Company Milestones
Major news about 5Y portfolio companies' fundraising, IPOs, strategic partnerships, breakthroughs, and new product launches.
02 5Y Capital Updates
News about 5Y honors, investor interviews, and thought leadership.
Note: Companies are listed in alphabetical order by pinyin.
01
Portfolio Company Milestones
Multiple 5Y Portfolio Companies Make the 2024 Silicon 100 List
On July 10, the 2024 Silicon 100 list was released. This year's list features 61 returning companies from last year and 39 newcomers. The median company age is five years — 49 were founded in 2018 or earlier, while 51 were founded in 2019 or later. Four technology trends stood out: continued high AI activity, steady progress in quantum communications, a surge in Chiplet-related activity, and declining activity in non-processor categories. Thirteen Chinese companies made the list, including several 5Y portfolio companies: Vastai Technologies, Moore Threads, Xinhuazhang, and Jaguar Microsystems. Read more
Kuaishou Vision Pro Edition Officially Launches Among China's First Apps for Apple Headset
On June 29, Kuaishou officially launched its Vision Pro app. The app is among the first in China to support Apple's headset, offering users a richer virtual reality experience. Users can watch panoramic videos, play games, and engage in various VR activities through Kuaishou Vision Pro. Compared to the standard version, it features improved image display and user experience, with sharper visuals and smoother interactions. Read more
Moore Threads and Baidu Map Sign Strategic Partnership
On July 24, Moore Threads and Baidu Map signed a strategic cooperation agreement to jointly advance digital twin map technology innovation and empower industrial intelligent upgrading. The partnership will leverage Baidu Map's mapping engine, digital twin technology, and big data applications alongside Moore Threads' full-function GPU capabilities in 3D graphics rendering and AI computing to drive adoption and large-scale deployment of digital twin map solutions. Read more
Morefun AI and Shenzhen TV Reach Ecosystem Strategic Partnership
On July 1, Morefun AI and Shenzhen Media Group formally established an ecosystem strategic partnership. Shenzhen TV will leverage Morefun AI's full-stack 3D virtual human AIGC technology and its capabilities in video, livestreaming, and interactive services to accelerate AIGC adoption in news production, digital programming, and offline events — improving production efficiency, enriching program formats, enhancing event impact, and delivering better audiovisual experiences for viewers. Read more
ReviR Therapeutics Raises $30 Million in Series A
On July 26, ReviR Therapeutics announced the completion of a $30 million Series A round led by Dragonstone Capital, with continued investment from existing shareholders CDH Investments, 5Y Capital, and Yayi Capital, plus participation from XtalPi and the CMT Research Foundation (CMTRF). The funding will further develop ReviR's proprietary AI drug discovery platform VoyageR, combining AI technology with the team's deep drug development experience to advance its Huntington's disease (HD) pipeline as well as preclinical and clinical development for additional neurological disease programs including Charcot-Marie-Tooth disease (CMT) and amyotrophic lateral sclerosis (ALS). Read more
SenseTime and China Unicom Reach Strategic Partnership
On July 22, SenseTime announced that it had signed a strategic cooperation agreement with China Unicom during the 2024 China Unicom Partners Conference held July 19–20. The two parties will collaborate across digital communications, industry digital transformation, AI infrastructure, computing service systems, and global computing supply to provide foundational infrastructure for AI industry development in the large model era. Read more
Pony.ai Approved for Driverless Robotaxi Pilot in Shanghai
On July 7, Pony.ai received one of the first permits for driverless intelligent connected vehicle demonstration applications in Shanghai. This means passengers can now book a driverless Robotaxi through the Pony.ai app across a 205-kilometer route in downtown Shanghai. The milestone follows similar approvals in Beijing, Guangzhou, and Shenzhen — giving Pony.ai a presence in all four of China's first-tier cities. Read more
Xpeng Motors and Volkswagen Group Sign EEA Strategic Cooperation Agreement
On July 22, Xpeng Motors and Volkswagen Group announced on the Hong Kong Stock Exchange that both parties have signed a joint development agreement for electronic electrical architecture technology strategic cooperation. Under the agreement, the two companies will jointly develop industry-leading electronic electrical architectures for Volkswagen's CMP and MEB platforms produced in China. Read more
Xpeng Aeroht Signs with Hechi, Guangxi Adding Another Stop to National Flying Car Experience Network
On July 25, the Hechi municipal government in Guangxi Zhuang Autonomous Region and Guangdong Huitian Aerospace Technology Co., Ltd. held a strategic cooperation signing ceremony to jointly advance the testing, application, and supporting services for future flying cars. Guided by the Guangxi Development and Reform Commission, the partnership aims to establish Hechi as a low-altitude economy application demonstration point — building a low-altitude economic development base serving Southwest China and radiating across ASEAN. Read more
Xiaomi and MediaTek Join Forces Joint Lab in Shenzhen Officially Opens
On July 2, Wang Teng, Xiaomi's Vice General Manager of Marketing and General Manager of the Redmi brand, announced that Xiaomi and MediaTek's joint laboratory at Xiaomi's Shenzhen R&D center has officially opened. The lab's first product is the K70 Ultra smartphone. The collaboration reflects strengthened R&D cooperation between the two companies, aimed at jointly advancing the smartphone industry. The partnership is expected to positively impact Xiaomi phone performance and market competitiveness while bringing innovative product experiences to consumers.
CITIC Press and Xiaoice Release Kevin Kelly Digital Human
On July 10, CITIC Press Group officially launched its digital intelligence strategy, encompassing four product modules: the digital reading platform CITIC Academy, AI author digital human projects, and intelligent publishing systems, alongside the simultaneous establishment of a digital intelligence publishing industry ecosystem alliance. As a flagship product, CITIC Press partnered with Xiaoice to release a Kevin Kelly digital human. Read more
02
5Y Capital Updates
5Y Capital Makes 2024 Top 50 VC Funds by Returns List
On July 29, the China FOF Research Center officially released its 2024 specialized rankings based on existing data support and research analysis, recognizing outstanding institutions and talent in the private equity fund of funds and fund industries to promote healthy development of the equity investment sector. 5Y Capital was named to the 2024 Top 50 VC Funds by Returns list. Read more
5Y Capital Named to "TMTpost Venture Capital Pioneer List"
On July 31, TMTpost released its Venture Capital Pioneer rankings. TMTpost collected H1 2024 data from 200+ active domestic primary market investment institutions, cross-referencing multiple public databases to recognize pioneering institutions with outstanding performance in fundraising, investment, portfolio management, and exits across 11 hot sectors and venture capital ecosystem building in H1 2024. 5Y Capital was named to the "Top 20 Venture Capital Institutions," "Top 10 AGI Application Scenarios," and "Top 10 Carbon Neutrality" lists. Read more
5Y Capital's Fei Zhang Named to "Qimingpian · 2024 China's Best AI Investors TOP20"
On July 25, the "Qimingpian · 2024 China's Best AI Investors" list was released. AI has become a major force driving the global information technology revolution, with fields from smart homes and autonomous driving to healthcare and financial services continuously exploring and deepening practical AI applications. Against this backdrop, Qimingpian launched this list to recognize dedicated professional investors and financial advisors with keen vision and strong expertise. 5Y Capital Partner Fei Zhang was named to the "Qimingpian · 2024 China's Best AI Investors TOP20" list. Read more
Diving Headfirst into North America's Music Scene: A Guide to AI Music Going Global | 5Y Tavern x ACE Studio's Jing Guo
For this edition of 5Y Tavern, we invited Jing Guo, founder of ACE Studio. ACE Studio began its North American expansion in early 2024, and within six months, the professional consumer-facing music workstation has achieved initial success in overseas markets. Guo shared his journey, some go-global experience, and his insights on AI music. Read more
5Y Capital seeks out, supports, and inspires lonely entrepreneurs, providing support from the spiritual to all operational aspects. We believe that if the you whom others see as crazy starts to be believed in, the world will become a different place.
BEIJING · SHANGHAI · SHENZHEN · HONG KONG
