To Better Kick Off March | 5Y News Monthly
The major events of February.
5Y News Monthly
"5Y News Monthly" is a regular column from 5Y Capital. At the beginning of each month, we look back at news and developments from the past month involving 5Y Capital and our portfolio companies, sharing them with friends who follow us. We hope this helps you get to know 5Y Capital better.
Contents:
01 Portfolio Company Highlights
Major news about 5Y Capital portfolio companies' financing, IPOs, strategic partnerships, breakthroughs, and new product launches.
02 5Y Capital Updates
News about 5Y Capital honors, investor interviews, and thought leadership.
Note: Companies are listed in alphabetical order by pinyin.
01
Portfolio Company Highlights
Horizon Robotics Reaches Comprehensive Strategic Partnership with SAIC
Full Range of Journey Chips Deployed
Horizon Robotics officially announced a comprehensive strategic partnership with SAIC Motor Passenger Vehicle Company. The two parties will leverage their respective core strengths in automotive and artificial intelligence to jointly explore cutting-edge automotive intelligence technologies and develop intelligent, connected vehicle products with SAIC's brand characteristics. Horizon Robotics will provide complete intelligent driving solutions based on its full range of Journey 2, Journey 3, and Journey 5 automotive AI chips, tailored to SAIC Passenger Vehicle's diverse needs. Read more
Kuaishou Officially Lists on Hong Kong Stock Exchange
On February 5, Kuaishou listed on the Main Board of the Hong Kong Stock Exchange under ticker 1024.HK. As the first Hong Kong-listed content community and social platform centered on short video and live streaming, Kuaishou opened at HK$338, up 193% from its IPO price, corresponding to a market cap of HK$1.39 trillion. 5Y Capital's relationship with Kuaishou began in 2011, with continuous investment across six rounds starting from the angel round, participating in and witnessing Kuaishou's evolution from a tool into a comprehensive ecosystem. Our best wishes to Kuaishou. Read more
Moore Threads Completes Several Billion Yuan in Funding
One hundred days after its founding, GPU chip design company Moore Threads completed two rounds totaling several billion yuan in funding. The just-completed Pre-A round was led jointly by Shenzhen Capital Group, GGV Capital, and HSG, with participation from China Merchants Venture Capital, ByteDance, Pony.ai, Ronghui Capital, PineStone Capital, Wenming Investment, First Capital, 5Y Capital, Holitek, and Minghao. The funds raised will be used to advance technology R&D, early market expansion, and subsequent product development. Read more
Deepwise Technology Completes Nearly 100 Million Yuan B+ Round
Deepwise Technology recently completed a B+ round of nearly 100 million yuan, with 5Y Capital participating. This round of funding will be used to develop new R&D pipelines. Founded in December 2018, Deepwise Technology has completed six rounds of financing in less than a year and a half since its first funding round in 2019. Read more
DataShu Completes 100 Million Yuan New Round
Shanghai DataShu Software Co., Ltd. announced in February the completion of a new 100 million yuan funding round led by SIG Asia Investments. As a leader in automotive data applications, DataShu enables digital transformation in the automotive industry through data + applications + algorithms, creating data intelligence solutions deeply integrated with business scenarios to comprehensively drive intelligent upgrading in the automotive sector. 5Y Capital previously led its Series B round. Read more
vika Completes Over $10 Million in Funding
Shenzhen vika Intelligence Technology Co., Ltd. (vika.cn) completed two consecutive Pre-A and Pre-A+ rounds totaling over $10 million at the end of 2020. The Pre-A round was led by Eminence Ventures with 5Y Capital participating; the Pre-A+ round was led by Hillhouse with Eminence Ventures and 5Y Capital participating. 5Y Capital had previously led its angel+ round. Read more
Pony.ai Completes $367 Million Series C
Latest Autonomous Driving Fleet Rolls Out at Scale
On February 8, Pony.ai announced $100 million in Series C+ funding, bringing its total Series C to $367 million. New investors include Brunei sovereign wealth fund Brunei Investment Agency and CPE. In November, Pony.ai had announced $267 million in Series C funding. On February 9, Pony.ai announced that the first batch of autonomous vehicles equipped with its latest-generation system had rolled off standardized production lines, and would soon begin all-weather autonomous driving testing on public roads in Guangzhou, Beijing, and Shanghai, joining the company's Robotaxi fleet for scaled operations. Read more
Neox Biotech Completes $30 Million Series A
Beijing Neox Biotech Co., Ltd. completed a $30 million Series A round jointly led by Sky9 Capital and 5Y Capital, with BAI Capital and Vertex Ventures China participating, and existing investors Yuanjing Capital and HSG continuing their support. This round of funding will be used to accelerate the development of its innovative drug pipeline, expand team size, and advance international market布局. 5Y Capital had previously participated in Neox Biotech's angel and pre-A rounds. Read more
XinYaohui Completes Two Rounds Exceeding 400 Million Yuan
Leading chip IP company XinYaohui Technology announced in February the completion of angel and Pre-A rounds exceeding 400 million yuan. The Pre-A round was jointly invested by HSG, Hillhouse, CloudLight Capital, and Gaorong Capital, with participation from Pine VC, 5Y Capital, Guoce Investment, and Da Hengqin Group. Angel round investors ZhenFund and Dashu Changqing made超额 follow-on investments in this round. The funding will be used to attract top technical talent globally, enhance product delivery capabilities, deepen functionality, and upgrade chip ecosystem connectivity. Read more
02
5Y Capital Updates
5Y Capital Partner Zhang Fei:
Most Marvel at the Power of Algorithms; Few Understand Network Structure
On the occasion of Kuaishou's listing on the Hong Kong Stock Exchange, 5Y Capital Partner Zhang Fei gave an interview to Bushouzhi. As the key investor behind Kuaishou, Zhang Fei has over 20 years of venture capital experience, and is also an investor in companies including Maimai, Xueqiu, Pony.ai, and SenseTime.
In the interview, Zhang Fei shared his decade-long journey with Kuaishou, as well as his views on Kuaishou's product form, monetization path, and organizational evolution.
Zhang Fei noted: "Entrepreneurship can be an infinite game, but many entrepreneurs view it through a finite lens, thinking about how to secure quick gains and make lots of money. Yet building fundamentals, values, and methodologies — things with greater potential energy — is actually more important. That determines how far you can go." Read more
5Y Talk:
In Conversation with Kuaishou's Hua Su: The Foundational Principle is Altruism
In this edition of 5Y Talk, 5Y Capital Partners Zhang Fei and Yuan Ye sat down with Kuaishou co-founder, Chairman and CEO Hua Su. Nearly ten years have passed since their first meeting in a small conference room at Huaqing Jiayuan. At this important milestone, they discussed the scene of their first meeting, insights from their entrepreneurial and investment journeys, and their hopes for the next decade. Read more
5Y Capital (formerly Morningside Venture Capital) currently manages approximately $3 billion in USD and RMB dual-currency funds. We believe that if the crazy you in others' eyes begins to be believed in, the world will be a better place.
BEIJING · SHANGHAI · SHENZHEN · HONG KONG
