BlueRun Ventures Continues to Double Down, SG DevTech Secures Hundreds of Millions of RMB in Series B Funding | BlueRun Ventures

Recently, Innoscience (昕感科技), a silicon carbide (SiC) power semiconductor company, announced the completion of two consecutive funding rounds — Series B and B+ — totaling several hundred million RMB. The rounds were led by Xinchao Group and Jinpu Xinchao, with participation from Anxin Investment, Yaotu Capital, Dawu Venture Capital, and Xinxin Leasing. Existing shareholders BlueRun Ventures and Wanwu Capital also increased their stakes. BlueRun Ventures previously led Innoscience's Series A round of over 100 million RMB.

Jui Chan, Managing Partner of BlueRun Ventures, stated: "The rapid growth of the new energy industry has driven surging demand for high-quality upstream supply chains. SiC power devices represent the next generation of power semiconductors, with extremely demanding design and process requirements. The Innoscience team possesses deep expertise and extensive R&D experience in the SiC field, along with sharp insight into downstream applications and customer needs. We believe they will become a top-tier domestic SiC semiconductor enterprise."

As an emerging player in China's third-generation semiconductor industry, Innoscience has attracted considerable attention from both industry and capital markets since its founding in 2020. The company has completed multiple funding rounds in just over two years, and in 2022 launched its proprietary high-performance, high-reliability SiC MOSFET products for customer sampling. Compared to mainstream domestic and international competitors, Innoscience's 1200V 80mΩ SiC MOSFET product offers significant advantages including 40% lower switching losses and reduced leakage current.

This funding round has attracted several prominent semiconductor industry investors, bringing rich and deep industrial resources to support the company's growth. The proceeds will be used to further optimize design and process platforms, strengthen technological moats, and expand operations and market development to build a leading domestic SiC power device chip manufacturer.

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BlueRun Ventures was founded in Silicon Valley in 1998. BlueRun Ventures China was established in 2005 as a venture capital firm focused on early-stage startups.

Currently, BlueRun Ventures China manages multiple USD and RMB dual-currency funds with assets under management exceeding 15 billion RMB, making it one of the largest early-stage funds in China. The firm invests primarily at Pre-A and Series A stages, with coverage across hard tech and innovative interaction, enterprise technology, new consumer, and healthcare. It has invested in over 150 startups, including Li Auto, Waterdrop, QingCloud, Guazi.com, Qudian, Songguo Mobility, Ganji.com, Energy Monster, Yuntu Semiconductor, Machenike, CloudSaints, Anxin Network Shield, and BioMap.

BlueRun Ventures has been ranked #1 on Zero2IPO's "China Top 30 Early-Stage Investment Institutions" and ChinaVenture's "China Best Early-Stage Venture Capital Firms TOP30," and was named among Preqin's Top 10 VC fund managers globally for consistent high returns.

The firm has also received consecutive recognition from Forbes China, 36Kr, Cyzone, Caixin Media, CBNweekly, Jiemian, and other media outlets as "China's Best Early-Stage Firm of the Year," "China's Top Venture Capital Firm," "Most Entrepreneur-Friendly Early-Stage Firm of the Year," and "Most Influential Early-Stage Firm of the Year."