FreeS Fund received eight recognitions from institutions including *Fortune* (Chinese edition), 36Kr, and the Fund of Funds Alliance.
Do what's right, not what's easy.
Over the past two weeks, FreeS Fund and its portfolio companies have received eight recognitions:
- Yichen Shen, founder and CEO of Lightelligence; Xiang Li, founder of Coyote Bioscience; Yun Lou, founder of Club Factory; Sai Zhang, founder of Yifei Automation; and Shuhao Wen, chairman of XtalPi, were named to Fortune (China edition)'s "40 Under 40 Business Elite" list.
- Li Feng, founding partner of FreeS Fund, was named to 36Kr's "Top 20 Investors in China's Online Education" and "Top 20 Investors in China's Healthcare."
- Huan Zhang, partner at FreeS Fund, was named to the "2020 China 40 Under 40 (40U40) Outstanding Young Direct Investment Fund Investors" by the China Association for Science and Technology Finance Promotion Venture Capital Committee, China FOF Alliance, and China FOF Research Center.
/ 01 /
Fortune (China edition)
"40 Under 40 Business Elite"
On May 14, Fortune (China edition) released its "40 Under 40 Business Elite" list. Five founders from FreeS Fund's portfolio companies made the cut: Yichen Shen of Lightelligence, Xiang Li of Coyote Bioscience, Yun Lou of Club Factory, Sai Zhang of Yifei Automation, and Shuhao Wen of XtalPi.
The Fortune (China edition) editorial team noted: "Amid the pandemic, these young business leaders have not only achieved success in their careers — more importantly, they have used various methods to tackle public problems, achieving a win-win for both their companies and society."
▍Yichen Shen: Founder & CEO, Lightelligence
Yichen Shen earned his PhD from MIT in 2016. During his doctoral studies in 2014, he published a paper as first author in Science titled "Broadband Angular Selectivity of Light," achieving for the first time the ability to select the direction of light propagation at the material scale. Lightelligence successfully developed the world's first photonic chip prototype board.
▍Xiang Li: Founder & CEO, Coyote Bioscience
In 2009, Li founded Coyote Bioscience, focusing on the development of molecular detection instruments. Coyote's point-of-care testing devices have miniaturized, accelerated, and simplified molecular diagnostics, making them accessible to everyone. The company now holds world-leading "nucleic acid extraction-free rapid point-of-care nucleic acid testing technology" and over 50 core patents, plus multiple international PCT patents.
▍Yun Lou: Founder & CEO, Club Factory
Lou founded Hangzhou Jiayun Data Technology in 2013. This data-driven e-commerce company uses a supply chain model based on big data, combining intelligent computing and mining with a professional buyer team for product selection. Its merchandise spans clothing, shoes and bags, accessories, beauty, 3C electronics, and home goods, with fast and affordable international logistics. Its flagship product Club Factory ranks first in India and the UAE, and second in the Philippines, for iOS shopping app downloads.
▍Sai Zhang: Founder & CEO, Yifei Automation
Zhang founded Yifei Automation in 2012, focusing on R&D and production of parallel robots and related automated production lines. The company's flagship product, the Xunyi high-speed parallel robot, is widely used in sorting, handling, packaging, gluing, and palletizing across food, pharmaceutical, photovoltaic, consumer electronics, personal care, and logistics industries.
▍Shuhao Wen: Chairman, XtalPi
In 2014, while conducting postdoctoral research at MIT, Wen co-founded XtalPi with partners and became chairman. He led cumulative fundraising of over $73 million, securing investments from leading capital partners including Google, Tencent, HSG, and China Life Healthcare Fund. He also facilitated multiple collaborations with top global pharmaceutical companies and research institutions including Pfizer and SSCI. Under Wen's leadership, XtalPi has focused on AI-driven drug discovery, providing intelligent R&D services to global innovative pharmaceutical companies while empowering platform participants and reshaping the pharmaceutical industry value chain.
/ 02 /
36Kr "Top 20 Investors in China's Online Education"
& "Top 20 Investors in China's Healthcare"
A week ago, 36Kr released its 2019–2020 annual TOP20 lists for institutional investors and individual investors across four sectors: enterprise services, healthcare, online education, and media & entertainment. Li Feng of FreeS Fund was named to both 36Kr's "Top 20 Investors in China's Online Education" and "Top 20 Investors in China's Healthcare."
In Q1 this year, 36Kr invited over 3,000 investment institutions to participate in data research, compiled and analyzed their 2019–2020 investment performance, and studied key industry trends. 36Kr observed: "As market capital has grown more cautious, the headwinds effect has become increasingly pronounced."
In education, FreeS Fund has invested in companies including Onion Academy, Qingqing Education, Deer Music, Juvenile Dedao, Shanbay, and Momself, covering learners from children to adults and spanning both exam-oriented and quality education.
In healthcare, FreeS Fund has invested in innovative companies including Coyote Bioscience, XtalPi, Nuoxin Chuanglian, Bluepha, Changmugu Medical, Novita, Singleron, NeuraMatrix, Leao Medical, Lukan Medical, Suzhou Mujin Chemistry, Wuhan Zhihua Technology, METiS Pharmaceuticals, Suzhou Luosheng Biopharma, Vibronix, N1 Life, JeniVision, Cam Med, Suzhou Anyeep, DeepCare, Haalthy, October Care, Yikang Meichen, Yibao, and Jiahua Yaorui.
/ 03 /
"2020 China 40 Under 40 (40U40) Outstanding Young Direct Investment Fund Investors"
On April 29, based on data support and research analysis from the China FOF Research Center, the China Association for Science and Technology Finance Promotion Venture Capital Committee and China FOF Alliance announced the "2020 China 40 Under 40 (40U40) Outstanding Young FOF Investors" and "2020 China 40 Under 40 (40U40) Outstanding Young Direct Investment Fund Investors." Huan Zhang, partner at FreeS Fund, was named to the latter list.
As we mentioned in a previous article: "The venture capital market hasn't shut down, despite real difficulties. And we always believe that the best gift for the future is to seize the present."
Over the roughly 100 days from late January to late April, FreeS Fund and its portfolio companies achieved the following:
- Portfolio companies: 25 completed new funding rounds, raising a total of 1.68 billion yuan.
- Fundraising: FreeS Fund's second RMB fund closed with oversubscription.
- Investments: 21 projects invested, including 13 follow-on investments in existing portfolio companies and 8 new investments, totaling 245 million yuan.
- Exits: Two exits realized.
We thank Fortune (China edition), 36Kr, China FOF Alliance, and other institutions for this recognition. These honors carry weight and expectation alike. FreeS Fund will continue to believe in long-term value and do what is right, not what is easy.
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