September, When Hope Will Break Through Like the Sun | 5Y News Monthly
The big news from last month.
5Y News Monthly
"5Y News Monthly" is a regular column from 5Y Capital. At the beginning of each month, we look back at news from the past month about 5Y Capital itself and our portfolio companies, sharing it with friends who follow us in the hope of helping you get to know us better.
01 Portfolio Company Highlights
Major news about 5Y portfolio companies' financing, IPOs, strategic partnerships, breakthroughs, and new product launches.
02 5Y Updates
News about 5Y honors, investor interviews, and thought leadership.
Note: Companies are listed in alphabetical order by pinyin.
01
Portfolio Company Highlights
Desty Closes Pre-A Round
In early August, Jakarta-based social commerce startup Desty closed a $3.2 million Pre-A round led by 5Y Capital, with participation from Fosun RZ Capital, Yingdong Capital, January Capital, and East Ventures. Founded in October 2020, Desty provides online showcase products and services for KOLs and e-commerce and brand sellers across Indonesia. Its products have quickly grown into one of Indonesia's leading social commerce tools, with hundreds of thousands of users. Read more
Zepp Health Launches Amazfit Happy Duck Kids' Health Watch
On August 10, Zepp Health (NYSE: ZEPP) launched the Amazfit Happy Duck kids' health watch — the company's first health wearable designed specifically for children. The watch features an innovative sunlight sensor that helps prevent myopia through outdoor activity time reminders; three student-specific sports modes to help meet PE standards; multi-dimensional health monitoring; 4G HD video calls; and AI-powered multi-layer positioning to keep kids safe. Read more
Huya Live Becomes Exclusive Streaming Partner for WUCG
The WUCG online tournament kicked off on August 3, with Huya Live as its exclusive streaming partner. Huya focuses on top-tier esports events, aiming to deliver the ultimate viewing experience, while WUCG serves as a premier stage for university students to create extraordinary value — a shared vision that made this deep collaboration a natural fit. Together, the two presented audiences with the highest-caliber university esports competition. Read more
Keep Announces Brand Ambassador, Launches Online "88K Games"
On August 8, China's National Fitness Day, Keep — a beloved and trusted fitness service — joined forces with brand ambassador Jackson Yee to reinterpret its "Self-discipline gives me freedom" brand spirit. Keep also launched the online "8.8 K Games" to ignite enthusiasm for national fitness and communicate its new brand message: "Self-discipline gives us the freedom to be happy." Read more
BestSign Reaches Strategic Partnership with Amer Sports
In August, BestSign reached a strategic partnership with international sports equipment company Amer Sports. Amer Sports integrated BestSign's e-signature solution into its coach management system, allowing franchise coaches to join with one click via client apps or mini-programs. Amer Sports headquarters can edit franchise contract templates directly in the backend, with intelligent data management after signing — fully digitizing the contract management process. Read more
SenseTime Signs Strategic Cooperation Agreement with Jiangxi Provincial Government
On August 16, the Jiangxi provincial government and SenseTime signed a strategic cooperation framework agreement in Nanchang. Jiangxi Governor Yi Lianhong met with SenseTime CEO Li Xu and witnessed the signing. Xu outlined SenseTime's development achievements and innovations, stating that the company would prioritize Jiangxi as a key partner, mobilizing technical and talent resources and working with ecosystem partners to implement the agreed projects. Read more
Agora Launches Full-Path Accelerator (FPA)
On August 19, Agora held an online product launch to officially release "Full-Path Accelerator (FPA)." Built on Agora's Software-Defined Real-time Network (SD-RTN™), FPA improves end-to-end transmission performance and reliability across the entire network — including the last mile — through globally distributed optimization. By enabling efficient cloud-edge collaboration, it adds network QoS guarantees for enterprise applications. Read more
Shukun Technology Closes New RMB 700 Million Round
Shukun Technology announced a new RMB 700 million financing round with investors including Goldman Sachs Asset Management, Primavera Venture Partners, HSG, Vision Capital, Jane Street Asia, Ruizhi Capital, WT China Focus Fund, and Future Qi Chuang Fund. This round comes just six months after its nearly RMB 1 billion round last year. 5Y Capital led Shukun's Series A in July 2018 and has continued to participate in subsequent rounds. Read more
Xiaomi Holds 11th Anniversary Launch Event
On the evening of August 10, Xiaomi held its 11th anniversary launch event, where Lei Jun shared in his annual address how Xiaomi grew step by step in pursuit of its dreams. The event also brought surprises for Mi fans: the Mi MIX 4, Mi Pad 5, Xiaomi Sound, Mi TV Master 77 OLED, Mi TV 6 OLED, and CyberDog biomimetic quadruped robot. Xiaomi also announced its first brand spokesperson — Su Bingtian, who set the Asian record in the men's 100m at this year's Tokyo Olympics. Read more
First Batch of Xpeng P7s Exported Overseas
In August, the first batch of long-range intelligent coupe Xpeng P7s set sail from Guangzhou's Xinsha Port, becoming the first Chinese-brand intelligent electric coupe sold in Europe. Thanks to Xpeng Motors' sales network built in partnership with Norwegian dealer groups, these exported P7s are expected to reach Norwegian customers as early as October. The P7 had previously received EU Whole Vehicle Type Approval (WVTA), certifying it for registration and sale across EU member states. Xpeng Motors will gradually build out a complete overseas operations system covering sales, delivery, after-sales service, charging, and lifestyle. Read more
Galixir Closes New Strategic Financing Round
On August 4, Galixir announced a new funding round led by the Shanghai AI Industry Investment Fund, with continued support from all existing shareholders including Gaorong Capital, Source Code Capital, Redpoint China Ventures, DCM, 5Y Capital, and BAI Capital. The proceeds will further strengthen the company's platform capabilities, advance its drug discovery pipeline, expand its talent base, and deepen its scientific and technical advantages. Read more
Left-Hand Doctor Closes New Funding Round
Beijing Zuoyi Technology, a leading domestic medical AI systems developer known as "Left-Hand Doctor," announced in August the completion of a RMB 100 million Series B round led by Qiming Venture Partners, with participation from Haier Capital and other noted investors. CEC Capital served as exclusive financial advisor. The proceeds will fund R&D upgrades to Left-Hand Doctor's diagnostic AI product pipeline and expansion of commercial applications, advancing its mission to "build proactive AI that makes quality healthcare accessible." 5Y Capital led the company's angel round in 2016. Read more
5Y Updates
When Sincere, Smart, Interesting Tech Founders Live Together for 5 Days and 4 Nights | 3Sigma Bootcamp Recap
In August, the inaugural 3Sigma Bootcamp concluded successfully.
3Sigma Bootcamp is an entrepreneurship program co-hosted by 5Y Capital and Synced. During the closed-door session from August 4–8, 20 founders from frontier technology and applied technology fields engaged in intellectual exchanges with 5Y investors, portfolio company founders, and cross-disciplinary guests — from technology to business.
When sincere, smart, extreme founders gather in the same time and space, they create a singular energy field. Read more
5Y Capital Wins "2021 China VC Firm of the Year" and Multiple Other Awards
On August 13, Securities Times announced the winners of its "2021 China Venture Capital Golden Eagle Awards & China Startup New Seedling Rankings."
5Y Capital was named "2021 China VC Firm of the Year." 5Y Capital founding partner Qin Liu received "2021 China VC Investor of the Year." 5Y Capital partner Zhang Fei received "2021 China VC Best Investor in AI."
In August, Huxiu and Baize Capital launched their first investor ranking initiative. 5Y Capital partner Yuan Ye received "2021 Most Valuable Young Investor." 5Y Capital partner Liu Kai received "2021 Best Investor in Enterprise Services." 5Y Capital managing director Jing Xutian received "2021 Best Investor in Digital Healthcare." 5Y Capital received "2021 Best Investment Firm in Digital Healthcare." Read more
5Y Capital (formerly Morningside Venture Capital) currently manages approximately RMB 32 billion in USD and RMB dual-currency funds. 5Y Capital seeks out, supports, and inspires solitary entrepreneurs, providing support from spiritual encouragement to full operational assistance. We believe that if the world starts to believe in the "crazy" you that others see, things will get interesting.
BEIJING · SHANGHAI · SHENZHEN · HONG KONG
