5Y Capital
五源资本
5Y Capital (五源资本, formerly Morningside Venture Capital) is a Chinese venture capital firm managing roughly $5 billion across USD and RMB dual-currency funds, with offices in Beijing, Shanghai, Shenzhen and Hong Kong . Founded by Qin Liu (刘芹) as founding partner, the firm is led alongside partners Fei Zhang (张斐), Ye Yuan (袁野) and Kai Liu (刘凯), with Zhiyuan Cui (崔志远) serving as executive director .
The firm styles itself around backing "scarce, crazy" founders with long-term conviction, providing what it calls "support from spirit to all business operations" . Its early-stage bets include leading Horizon Robotics' seed round in 2015 and continuing through subsequent rounds , plus first-round investments in Shukun Technology and Agora . Its portfolio spans AI chip design (Vastai Technologies ), autonomous driving (Pony.ai ), healthcare (WeDoctor ), and cross-border opportunities such as Indonesian e-commerce enabler Desty . The firm also runs the 3Sigma Bootcamp for recruiting technical founders .
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Coverage
D-Robotics Closes $400 Million Series C Round as Linear Capital Doubles Down for the Seventh Consecutive Round | Linear Portfolio
Cumulative shipments of the Sunrise chip have surpassed 8 million units.
Flying Robot Company DiffRobotics Completes Hundreds of Millions of Yuan in A2 Funding | 5Y News
Connecting flying robots to every industry, and bringing them into every home.
AI Music's Largest Single Funding Round: ACE Raises $40 Million in Pre-B Round | 5Y News
ACE Studio has accumulated nearly 100,000 paying creators and over 3 million professional production tracks.
The Full Story of Alibaba's Investment in Moonshot AI
Game Changer.
22-Year-Old Embodied AI CEO, 5 Funding Rounds, Over $100 Million: "Don't Know How High the Sky Is," "Ate Ten Years of Bitterness in One Year" | Interview with RoboParty's Huang Yi
NovaSilicon Paper: Chipmaking Bottleneck Isn't Tools, It's Organization
NovaSilicon has closed two consecutive rounds of financing totaling nearly 100 million RMB within three months of its founding, and has already signed multi-million-RMB orders with top-tier industry customers.
Post-90s Quantum Computing Team "Vector Singularity" Raises Over 100 Million Yuan in Angel Round | 5Y News
The funds raised will be used for R&D of the first-generation neutral-atom general-purpose quantum computer.
Industrial Functional Coating Digital Inkjet Firm Shifang Technology Closes Nearly RMB 300 Million Funding Round | 5Y News
Bringing industrial coatings into the digital inkjet era.
The elsewhere Podcast Is Back with Xing Meng
Better to not live at all than to live without enough experience.
Vol.006 | A Conversation with Xing Meng: 'I'm Terrified of Being Like Everyone Else'
MatrixOrigin Completes Series A Funding Round of Over $10 Million | 5Y News
MatrixOne Intelligence 5.0 is about to be released.
ZhenFund Angel Project "Valhalla Technology" Closes Nearly $50 Million Funding Round
Build a Scientific AGI foundational platform for all domains.
Valhalla Tech, a Full-Modality Molecular World Model Company, Raises Nearly $50M in Three Consecutive Months of Funding | 5Y News
World models that create molecules.
Deng Yu Wins the Fields Medal: The Problem He Solved Has Stumped AI
From Deng Yu, Hilbert's Sixth Problem, and the Step AI Has Yet to Truly Take Author | Xing Meng, Partner at 5Y Capital
AI4S Needs Fanatics and Visionaries | A Conversation with Odin from Valhalla: "If God Exists, How Could I Tolerate Not Being God?" [Road Podcast]
We captured 28 moments at WAIC, piecing together a cyber *ukiyo-e*.
Melting from the heat.
Four Days at ICML Seoul: Models Are Eating Everything Faster Than Anyone Can Find Their Footing | Xing Meng, 5Y Capital
In July 2026, Xing Meng, partner at 5Y Capital, traveled to Seoul for ICML, where he engaged in deep conversations with researchers and founders on the front lines of the global AI industry. This article presents a selection of his firsthand observations after returning to China.
5Y News | DJI-Linked AI Nature Exploration Startup Deeplore Raises Tens of Millions of Yuan in Seed Round
"Explorers for Explorers."
OpenAI Designed a Chip in Just 9 Months — The AI Chip Game Enters Its Second Half | 5Y Research
Once inference workloads account for more than half of AI computing demand, NVIDIA will no longer be the only game in town for AI chips.
5Y News | Using AI to Disrupt Chip Design, Novasilicon Secures Tens of Millions of RMB in Exclusive Funding from 5Y Capital
AI is pushing chip design capabilities toward platformization.
Models, Tokens, and Organizations in the Post-Scaling Law Era | 5Y Quarterly
We can only see a short distance ahead, but we can already see that there is much to be done.
From Medallion to AI-Native Asset Management: GIM Closes Three Funding Rounds
Will a Century-Old Asset Management Industry Be Rewritten by AI?
A quick announcement: elsewhere now has a website.
Currently in beta — welcome to try it out.
5Y News | AI-Native Investment Management Firm GIM Closes Tens of Millions of Dollars in Series A Funding
Model capabilities, agent capabilities, and closed-loop research capabilities.
5Y News | Archon Robotics Closes Nine-Figure RMB Seed Round
What Should Robots Learn from Humans?
ZhenFund angel project "YuanCe Future" (源策未来) has raised hundreds of millions of RMB in its Series A funding round, aiming to build the OpenAI of the humanoid robot era.
A University of Hong Kong professor has founded a startup to build a general-purpose, full-body embodied intelligence brain.
"YuanCe Future" Secures Hundreds of Millions in Series A Funding, Targeting Embodied Intelligence to Build the OpenAI of Humanoid Robots
Building a world-leading general-purpose full-body embodied brain.
5Y News | Data Company "Intelligent Knowledge" Completes Angel Round
The Bitter Lesson: innovations driven by data can have enormous impact.
Ola Dimensions Closes Hundreds of Millions in Angel Round, Using "Trainable" Paradigm to Rebuild Physical-World Data Loop for Home Embodied Artificial Intelligence | Unity Ventures Portfolio News
The third funding round completed in three months
In the AI PC Era, True "Token Freedom" Is on the Edge: Edge Computing Engine Company AgiBot Secures Tens of Millions of RMB in Funding
Let users move from "renting intelligence" to "owning intelligence."
Congratulations to METiS Pharmaceuticals on its Hong Kong Stock Exchange IPO — FreeS Fund invested in four consecutive early rounds.
From Whiteboard Equations to the "SpaceX" of Pharma
Ola Dimensions Closes Hundreds of Millions of Yuan in Funding: Former Huawei Embodied AI "Employee No. 1" Zhou Shunbo Ventures Into "Tamagotchi-Style" Home Embodied AI Robots | New Unity Ventures Portfolio Company
Zhou Shunbo is the only Huawei "Genius Youth" recruit whose research proposal centered on intelligent robots.
BlueRun Ventures Portfolio Company NeoImmuneTech Completes $38 Million Financing to Advance First-in-Class "Myeloid Cell Engager" Immunotherapy Pipeline | BlueRun Family
From Technical Platform Validation to Clinical Value
The First-Order Problem for Agents: Proactivity and the Economics of Context
Human attention has never been more scarce.
The World Belongs to Cute: 7 Unserious Projects and 3 Global Premieres | AI Night Hunt Takes Over Shanghai
That Night, AI Sprouted a Furry Tail: Apple's Rabbit, the Travel King of the Wild, and the Ambition to Kill Disney
D-Robotics Raises Another $150 Million in Funding, Bringing Series B Total to $270 Million to Accelerate Global Expansion
2025 Performance Achieves a "Triple Jump"
D-Robotics Closes $120M Series B1 to Accelerate Building Embodied AI Native Tech Foundation
Series A and Series B funding rounds totaled $220 million.
BlueRun Ventures Continues to Double Down as QLT Biotherapeutics Closes Over RMB 500 Million Series C Round | BlueRun Family
Accelerate core clinical pipeline development
Cyber Avatars Go Viral: AI Social App Elys Blows Up Overnight | We Rapidly Fired 15 Questions at Its Two Founders
Old-paradigm social media, get the hell out of Elys
BlueRun Ventures-backed Zenitar closes nearly RMB 600 million Series C round | BlueRun Family
Build a closed-loop, iterative system spanning "target identification — molecular design — efficacy validation"
Qiming Venture Partners co-leads Zenitar's nearly 600 million yuan Series C round
late-stage clinical biotech company
Where Did the Money Go? Who's Still Writing Checks? A 2025 VC Debrief With Jing Liu
VC takes a certain amount of instinct.
Morning Star｜Noitom Robotics Closes Pre-A+ Round Led by Qiming Venture Partners
is a data company serving the Embodied Artificial Intelligence and humanoid robotics industry
AllinkBio Closes Nearly $50 Million Series A Extension, BlueRun Ventures Continues to Double Down | BlueRun Family
Accelerating Clinical Development at Full Speed
Hypershell Raises $70 Million, Oasis Capital Increases Its Stake | Oasis Vitality
Counselor Vitality / Counselor on Vitality (Note: This appears to be a title or heading without surrounding context. "参赞" can mean "counselor/advisor" or "to participate in and assist," while "生命力" means "vitality/life force." The interpretation depends on context — it could be a role title like "Counselor on Vitality," a section header like "The Vitality of Counselors," or a verb phrase like "Contributing to Vitality." Additional context would help determine the precise rendering.)
Aureka Biotechnologies Closes Tens of Millions of Dollars in Series A Funding to Accelerate AI-Powered Antibody Design and Innovative Pipeline R&D
A biotech company focused on generative AI-powered antibody drug development
Minghui Pharmaceutical Raises $131M in Pre-IPO Round Co-Led by Qiming Venture Partners
Minghui Pharmaceutical is a late-stage biopharmaceutical company focused on oncology and autoimmune diseases.
Zenitar Closes Nearly RMB 400 Million Series B+ Round, Multiple Global First-in-Class Drugs Enter Pivotal Clinical Trials
Structural Biology and AI-Driven Innovative Drug Discovery and Development
Zenitar Raises Nearly 400 Million Yuan in B+ Round Led by Qiming Venture Partners
Zenitar is a structure-based biology and AI-driven innovative drug R&D company, focused on unmet clinical needs in major therapeutic areas including oncology, autoimmune diseases, inflammation, and neurological disorders. The company is dedicated to discovering, developing, and commercializing first-in-class and best-in-class innovative medicines.
"We Have to Be Expensive First!" — Only a $200/Month Price Tag Can Validate True AI Market Demand | A Conversation with Zhenyu Guo: Founder/CEO of Sandwich Lab
Seeing the world and understanding it are two different things.
"We Need to Be Expensive First!" — Why a $200/Month Price Tag Proves Real AI Market Demand | A Conversation with Zhenyu Guo: Founder/CEO of Sandwich Lab
"Potential Energy" Is the Moat for AI Products | Latest from a16z
You need to break the mold.
5Y View | Bill Gurley: How the AI Wave Is Reshaping the Structure of Primary Markets
The AI wave interrupted a market correction that should have happened, and China's cutthroat competitive environment will actually forge stronger companies.
D-Robotics Raises $100 Million in Series A Funding to Accelerate Embodied Artificial Intelligence Ecosystem Expansion | Unity Ventures Portfolio Addition
The "Top Player" in the Embodied Artificial Intelligence Infra Track
Zean completes $40 million Series A+ round to accelerate development of myeloid cell engager pipeline | BlueRun Ventures Family
Focusing on unmet clinical needs in major disease areas such as cancer and autoimmune diseases.
To AI Founders: In 2025, Go to These VCs for Funding | Debriefing a Year in Primary Markets with Jing Liu of "Waves"
"2024: Who's Still Actively Investing in AI?"
Returning to Dollar-Denominated VC: Is It Like Joining the Nationalist Army in 1949? | A Conversation with Xing Meng, 5Y Capital's New Partner
Are those who go against the current naive, or brave?
Returning to Dollar-Denominated VC: Like Joining the Nationalists in 1949? | A Conversation with Xing Meng, New Partner at 5Y Capital
Thinking is a mechanical process, AI are going to do it｜5Y View
Game out the trajectory of AI with Nat Friedman and Daniel Gross.
Two Decades of Breaking Through: Only by Turning the Blade Inward Can a Company Find the Right Path | 5Y View
Era, value, humanity.
Heaven's Feel: The Root of AI and Gaming | 5Y View
Any sufficiently advanced technology is indistinguishable from magic.
Creative people can be exceptions | 5Y View
Creativity is humanity's greatest asset.
The Parametric Reflection of the World: Why Next Token Prediction Produces Intelligence | 5Y View
Does GPT Already Possess Human-like Intelligence?
Chip/Consumer Electronics/Gene Editing Firms Raise New Funding; Quantum Computers, Micro-Display Chips Achieve Global Leadership | Rongbao · April
Targeting international advanced standards.
4D mmWave Radar Chip Startup Muye Micro Raises 100 Million Yuan in Pre-A Round
Enhancing 4D imaging perception capabilities to advance autonomous driving in the automotive industry.
February: Returning to Our Imagination of the World | 5Y News Monthly
The big news from last month.
Time forever forks, leading toward innumerable futures | 5Y News Monthly
The big news from last month.
XR chip developer GravityXR has raised tens of millions of RMB across angel and Pre-A rounds within six months
Focused on tackling XR-dedicated smart chips.
The worse the market gets, the more GPs want LPs to have the guts to deploy capital.
GPs need to buckle down and get the work done — happily.
Code Time | "Daily Black" Announces Two Rounds of Funding Exceeding 100 Million Yuan, Source Code Capital Leads A+ Round
Focused on R&D of innovative healthy dark chocolate
5Y News | Indian Fintech CRED Closes Series F at $6.4 Billion Valuation
Focused on innovation in financial technology.
Robots, AI, and Simulation Technologies Accelerate Industrial Adoption | Rongbao · June
Technology drives industrial transformation.
Helixon Closes Nearly RMB 500 Million Series A Round, AI-Powered Large-Molecule Drug Discovery
We've developed a suite of groundbreaking algorithms for protein drug design and modeling.
Code Moment | "XYZ Robotics" Announces Close to $40 Million Series B+ Round, Existing Shareholder Source Code Capital Continues to Double Down
Leader in Robotic "Hand-Eye Coordination" Technology
XYZ Robotics Closes Nearly $40 Million Series B+ Round to Build Next-Generation Vision-Guided Robotics Solutions
Intelligent, flexible, and agile.
New Tracks, Interdisciplinary Fields, Down-Market Expansion, Data Infrastructure... Four Companies Raise Nearly 1.2 Billion RMB in Funding | FreeS Family Funding News · Vol 10
Looking forward to working alongside more outstanding founders.
MaHui | Source Code Capital's Xingchen Zhang Named to Cyzone's 40 Under 40 Investors List
"Finding tech founders full of conviction"
Optimism Is Written in Founders' DNA | 5Y Capital Pub Vol. 6 x Shanghai Founders
A cloud-based pub for Shanghai entrepreneurs.
Code Engraved | METiS Pharmaceuticals Announces Two Consecutive Rounds totaling $150 Million
The most advanced pipeline programs are expected to begin pivotal clinical trials in 2023.
Multiple cutting-edge technologies lead globally — 3D interaction, LiDAR, chips, and medical innovation continue apace | Rongbao · March
Keep learning and evolving through the long cycle of sustained innovation.
XVERSE Raises $120 Million to Build Next-Generation One-Stop Platform for 3D Content Production and Consumption
Everyone is free to "define your world."
Metaverse Ecosystem Platform Oasis Raises Tens of Millions of Dollars in Series B Funding | Led by Oasis Capital
Hearts of Iron
Source Code Capital portfolio company Silicon Integrated announced the completion of a Series D funding round worth several hundred million yuan, with existing investor Source Code Capital continuing to increase its stake.
An innovative chip design company with independent, self-developed intellectual property.
Gaorong Monthly · December | Gaorong Ventures and Its Frontier Tech / Consumer / Healthcare / Enterprise Service Portfolio Companies Win Multiple Annual Awards
Its technological and innovative capabilities have won recognition.
Hyperparameter Raises $100 Million in Series B Funding to Build Living AI
Dedicated to building out the full "gaming + tech + social" pipeline.
Rongbao · November | New milestones for drug R&D, chips, and autonomous driving; UJU Media lists on Hong Kong Stock Exchange Main Board
New funding, new products, new applications.
Oasis Capital Leads Exclusive Angel Round in Second Elephant Tech, Which Closes Series A of Tens of Millions of RMB | Oasis Vitality
Building Houses Like Lego
Source Code Capital portfolio company "moody" announced the completion of a Series C funding round exceeding 1 billion RMB, with existing shareholder Source Code Capital continuing to increase its stake.
Strengthen research teams and R&D centers, and accelerate international expansion.
5Y News | moody Announces Completion of Series C Funding Round Exceeding RMB 1 Billion
How Did They Become an Industry Champion in Just Two Years?
How do we meaningfully measure human society in the 21st century? | 5Y View
Mining meaning from data.
Source Code Capital portfolio company "ONES" announces $50 million Series C round, with existing investor Source Code Capital continuing to increase its stake
Dedicated to building R&D management systems tailored to the needs of Chinese tech companies.
Source Code Capital portfolio company HAI ROBOTICS raises over $200 million across two rounds, with existing shareholder Source Code Capital continuing to increase its stake
Accelerating its global expansion, the company's operations now span more than 30 countries and regions across five continents.
Kai Yu: What Horizon Robotics Has Truly Believed In These Six Years | 5Y Talk
The forces that keep us moving forward.
5Y News | Chinese Emerging Designer Brand "bosie" Closes New Funding Round of Several Hundred Million Yuan
Break free from constraints. No divisions, no boundaries.
From 3D in Life, to Life in 3D: Erasing the Boundary Between Reality and the Virtual | 5Y View
What makes 3D so captivating?
Carving paths on trackless slopes, exploring where few have ventured | 5Y View
When We Talk About 3Sigma, What Are We Actually Talking About?
YunYou Freight Announces Completion of Tens of Millions of Dollars in Series B+ Funding, Led by 5Y Capital | 5Y News
Let every individual operate more efficiently within an ordered, high-performing network.
September, When Hope Will Break Through Like the Sun | 5Y News Monthly
The big news from last month.
A Future Unbound by Biology and Instinct | 5Y View
What science fiction has taught us.
5Y News | 5Y Capital portfolio company "Left-Hand Doctor" announces completion of 100 million yuan Series B funding round
Building Proactive Medical AI.
When a group of genuine, smart, and interesting young tech people live together for five days and four nights | 3Sigma Bootcamp documentary
The few who exist beyond 3Sigma — kindred spirits on the entrepreneurial road.
To Deep Space, Mars, and the Moon — And the Universe Within | 5Y View
On boundless imagination of the unknown.
How a Company Goes from Zero to $100 Billion in Value | 5Y View
In the constant process of making decisions, companies seize pivotal opportunities to stand out.
5Y Capital Wins Multiple Awards Including "2021 China Venture Capital Firm of the Year" | 5Y News
Continuously searching for scarce founders.
5Y Capital Portfolio Company Shukun Technology Announces New 700 Million Yuan Funding Round | 5Y News
Digital human platforms are penetrating deep into healthcare scenarios.
Source Code Capital portfolio company Galixir announced the completion of a new funding round, with existing shareholder Source Code Capital continuing to increase its stake.
Continuously exploring the application of AI technology to empower innovative drug R&D
5Y News | Galixir Completes New Strategic Funding Round, Continues Advancing Drug R&D Pipeline
5Y Capital continues to watch for opportunities where information technology can be applied in healthcare and medicine.
As Fierce as August | 5Y News Monthly
The big news from last month.
Indonesian social commerce solutions provider "Desty" closes Pre-A funding round led by 5Y Capital | 5Y News
Indonesia's leading social commerce tool.
5Y News | AgileX Robotics Completes Series A Financing to Accelerate Deployment of Mobile Robot Industry Application Solutions
5Y Capital is optimistic about AgileX Robotics's continued innovation and iteration capabilities, and looks forward to the company evolving into a platform enterprise for mobile robots.
5Y News | Synthetic Biology Company Bota Bio Raises Over $100 Million to Accelerate Efficient Design and Scaled Production of Bio-based Products
5Y Capital continues to pay close attention to emerging technologies at the intersection of information science and life sciences.
Synthetic biology company Bota Bio (Enhe Biotechnology) announced the completion of a Series B funding round exceeding $100 million, with existing shareholder Source Code Capital continuing to increase its stake.
Accelerating the design and production of high-performance, sustainable products through synthetic biology.
5Y News | Indian Social Media Platform ShareChat Raises $145 Million at ~$3 Billion Valuation
The qualities that define exceptional founders transcend borders.
The Future of Real-Time Interaction Is in Your Hands | "Supersonic Program" Recruitment Ongoing
Real-time interactive technology is changing our world.
A Conversation with Qin Liu: An Investor Needs the Coolest Head and the Wildest Heart | 5Y Talk
Entrepreneurs of this era are a band of mad explorers.
Source Code Capital portfolio company "XYZ Robotics" announced the completion of a $35 million Series B round, with existing shareholder Source Code Capital continuing to increase its stake.
"Pick Anything. Place Anywhere"
XYZ Robotics Leads the Robotic Hand-Eye Coordination Race, Closes $35 Million Series B Round
Accelerating the arrival of fully autonomous perception and manipulation for robots.
Statement on the "Huiming App" Fraudulently Using the "5Y Capital" Brand for False Advertising
The Huiming App has no affiliation with 5Y Capital. Please stay vigilant and guard against fraud.
5Y News | "Drama Peach Blossom Spring" Raises Tens of Millions of RMB in Angel Round to Build Urban Immersive Amusement Parks
Chinese aesthetics, offline social connection, and a free, open worldview.
5Y News | XYZ Robotics Leads the Robot Hand-Eye Coordination Race, Closes $35 Million Series B Round
Liberating human hands, transforming the productive efficiency of society.
Agora x 5Y Capital: "Supersonic Program" Startup Partnership Recruitment Now Open! | Exploring New Real-Time Interaction Scenarios
Growing alongside founders in the real-time interactive space.
5Y News | "Tapdata Secures Tens of Millions of USD Across Two Consecutive Rounds, Carving Out a New Track in Real-Time Data Services"
Building a real-time data service platform for TP operations.
Xiaoice Closes Series A Funding Round, Li Di: AI Beings Will Be Everywhere in the Future | 5Y News
Unveiled super-natural speech synthesis technology — AI now comes infinitely closer to the sound of a real human voice.
5Y News | Neox Biotech Completes Tens of Millions of Dollars in Series A+ Funding to Advance Innovative Drug Pipeline
5Y Capital continues to provide support.
Exploring the Future of Transportation | 5Y Capital Congratulates Xpeng Motors on Its Hong Kong Stock Exchange Listing
Exploring difficult questions with an imagination for the future.
Rongbao · June | BOSS Zhipin and Dingdong Maicai successfully go public; medical, industrial upgrade, and chip companies close new funding rounds
Xingji, Dongjing Yiwan, Qitan Technology, and other companies have completed new funding rounds.
How Does the Fusion of Science and Art Spark Creativity? | 5Y View
Every artist is busy questioning and studying the world, just like a scientist.
The Important Thing Is the Continuous Accumulation of Every Moment | 5Y News Monthly
What were the major events last month?
Always on the Road, Looking Forward to Every Wild Adventure | A 5Y Capital Team Building Story
Once a decision is made, no mountain stands in the way.
ONES, an R&D management tool, announced the completion of its RMB 300 million Series B1 and B2 funding rounds, with participation from Source Code Capital.
Dedicated to advancing China's software industry and enhancing the core competitiveness of enterprises.
5Y News | R&D management tool ONES raises RMB 300 million, continues to lead the R&D management track
Comprehensively elevate the digital management capabilities of enterprises.
3Sigma Bootcamp Application Countdown | Seeking Frontier Tech Founders Ready to Break the Paradigm
The essence of innovation is stepping outside the boundaries of established paradigms — even when that means a kind of madness others won't understand.
5Y News | After Raising Hundreds of Millions in Three Consecutive Rounds, "Yahaha" to Build Real-Time Digital Entertainment UGC Platform
A no-code, multiplayer interactive entertainment creation platform for global users.
Ten Years of Entrepreneurship, Wanwu's New Chapter | 5Y Capital Congratulates ATRenew Group on Successful NYSE Listing
Do things that create long-term value, even when they draw controversy in the present.
5Y Capital's Yuan Ye Named to Cyzone 2021 "40 Under 40 Investors" List | 5Y News
Looking for founders who are full of imagination about the future.
The Charismatic Copernicus | 5Y View
He changed humanity's imagination of the world.
5Y News | Data Intelligence Startup "MatrixOrigin" Raises Eight-Figure USD Angel Round
Explore the origins of the digital world.
5Y News | Zhuiyi Technology Secures Strategic Investment of Several Hundred Million RMB
Exploring the commercial boundaries of AI technology.
Zhuiyi Technology Secures New Strategic Funding Round to Deepen AI Capabilities and Accelerate Industrial Digital Transformation
Advance AI technology innovation and industrialization.
Seeking Pioneers at the Frontier of Technology | 5Y Capital's 3Sigma Bootcamp Opens Global Recruitment
A collision of ideas and hands-on practice spanning technology and business — register now to join.
The past has become the future, the future has become the past, and both have become the present | 5Y News Monthly
What major events happened last month?
Industrial Internet Investment: What Exactly Is "Platform Thinking"? | 5Y View
How do you make judgments when every industry is so different?
Define Your World: How to Understand the Metaverse / Omniverse Internet? | 5Y View
Imagining and thinking about the future world.
Listen Less to Gossip, Read More Biographies | 5Y View
Why read biographies? Reading a biography is like observing someone else's life from the sidelines — perhaps without the tightly woven plot progression, the wildly imaginative conceits, the climactic peaks, or even a definitive ending. But it is precisely because of its authenticity that it carries such power. Today's newsletter is a curated list of biographies. Some are autobiographies, others are written by third parties. A few of these works are not without controversy, but that doesn't diminish their quality as good books. Charlie Munger believed: "Biography is a more accessible way for people to connect the lives of idea founders..."
Do the Scientific Spirit and Miracles Share Common Ground? | 5Y View
Things that appear contradictory can often be traced back to the deep cognitive foundations of human understanding.
Be Kind to Those Crazy New Ideas | 5Y View
Having a new idea is lonely — only those who've tried it know.
5Y Capital's Qin Liu, Steven Zhang, and Yuan Ye Named to 2021 PEDaily "TOP100 Investors" List | 5Y News
On May 20, the 2021 "Investor TOP100" ranking was officially unveiled. The list was jointly initiated by PEDaily, China's entrepreneurship and investment professional portal under Zero2IPO, and Zero2IPO, with data support from the China Venture Capital and Private Equity Big Data Platform, PEdata. **Qin Liu, Founding Partner of 5Y Capital; 5Y Capital; and Yuan Ye, Partner at 5Y Capital, all made the list.**
5Y News | Direct-Drive Precision Motion Solution Specialist "Benmo Technology" Closes Pre-A Round Worth Tens of Millions of RMB
Drive the world directly.
5Y News | Cloud Gaming Tech Platform "Nianli Technology" Raises $8 Million in Funding
The first half of the virtual world has only just begun.
Why Is Imagination Humanity's Most Valuable Survival Tool? | 5Y View
Humanity began by asking the simplest questions, and grew ever more astonished by complexity.
The Longest-Running Animated Film Production in History: How Their Obsession and Madness Changed the World | 5Y View
Some people burned through their youth and, in doing so, shaped the generations that followed.
5Y Capital Wins Multiple Awards from 36Kr and ChinaVenture | 5Y News
The Power of Imagination.
Enterprise interactive learning platform UMU announced the completion of a Series C2 financing round worth over 100 million yuan, with 5Y Capital as the investor | 5Y News
Help companies transform performance and productivity through learning.
5Y Talk | Next-Gen Computing + Experimentation: The Birth of New Application Categories
Technology, Industry, and the Future.
5Y News | Buddy Leads the No-Code Digital Transformation Market with $17 Million Series B Round
A no-code app builder and data collaboration platform.
The Best Is Always Ahead | 5Y News Monthly
Happy Labor Day!
5Y Talk | How Can Computing and AI Break Through the Traditional Paradigm of Drug Discovery?
Entering the Game, Direction, and the Future.
5Y News | Vastai Technologies Announces Completion of 500 Million RMB Series A+ Funding Round
A leader in computing architecture for the future digital world.
5Y News | Men's Grooming Brand "理然" (Liran) Closes Nearly 300 Million RMB Series B+ Round
Understanding the real needs of the new generation of male consumers.
5Y Capital's Xu Tian Jing: Why We're Bullish on Digital Pharmaceutical R&D | 5Y Talk
The ITBT track has a promising future ahead.
5Y News | CloudWalk Group Closes $600 Million Series C2 Round to Expand Global Digital Supply Chain Services
A world-class supply chain that belongs to Chinese retail.
5Y News | Indian Membership-Based Fintech and E-Commerce Platform CRED Raises $215 Million at $2.2 Billion Valuation
Another unicorn emerges in the Indian market.
5Y Capital's Qin Liu and Zhang Fei Named to Forbes 2021 Midas List | 5Y News
We will keep searching for the rare, the obsessed, the founders who can imagine a different future — and back them in turning that imagination into reality.
Imagination Is the Future | 5Y Capital Completes New Fundraise
Without imagination, the world would not be what it is today.
5Y News | Indian Social Media Platform ShareChat Raises $502 Million at $2.1 Billion Valuation
India's latest unicorn.
April, When All Things Grow | 5Y News Monthly
Looking back at last month's big events, ready to take on Q2 with full confidence.
5Y News | "Zansi" Raises Tens of Millions of RMB in Series B Funding, to Launch Vertical Brand "Wei Laodi" Following "Mr. Soup"
A bowl of soup, a cat, a restaurant management group.
5Y News | Plant-Based Protein Drink Brand "oatoat" Raises Tens of Millions of RMB in Series A, Led by 5Y Capital
Back to the essence of food.
Daily Black Chocolate Raises Over 100 Million Yuan in Series A+ and B Rounds, Source Code Capital Leads Series A+
China's top-selling dark chocolate category on 2020 Double 11
5Y News | Premium Chocolate Brand "Daily Dark Chocolate" Secures Two Consecutive Funding Rounds Exceeding 100 Million Yuan Each
Shift consumers' traditional perception of chocolate.
Great CEOs Are Great HR: How Elon Musk Assembled a Team of Geniuses | 5Y View
To build a startup, you have to move heaven and earth to find the most talented people.
Why Can't We Talk Without Memes and Viral Jokes Anymore? | 5Y View
The Secret of Expression
How to Balance "Long-Termism" with "Present Action"? | 5Y View
Focus on doing the single most important thing right now.
Good Questions Matter More Than Perfect Answers | 5Y View
What Will the World Look Like in the Next 5,000 Days?
5Y News | Warehouse Robotics Firm Hai Robotics Closes 100-Million-Yuan Series B+ Round Led by 5Y Capital
Pioneer in tote-based warehouse robotics systems.
5Y News | Indian Used Electronics Marketplace Cashify Closes $15 Million Series D Round
India's secondhand phone supply chain is massive enough to serve its 1.4 billion people, and it's a global business too.
5Y News | Aromatherapy skincare brand *Zhuben* closes two rounds totaling $50 million in funding
A holistic wellness brand that embraces the philosophy of "less is more."
To Better Kick Off March | 5Y News Monthly
The major events of February.
5Y News | Intelligent Decision-Making Tech Firm UHL Secures Nearly 100 Million RMB Funding Round to Accelerate Enterprise Digital Transformation
Use AI to help more Chinese companies make data-driven decisions.
5Y News | Low-Code Platform ClickPaaS Closes Tens of Millions of Dollars in Series B Funding, 5Y Capital Continues Support
Empowering enterprise digitalization through standardized capabilities.
5Y View | Here's a 2021 Watchlist, 29 New Stories, and Some New Expectations
No film can bring you good luck, but they can quietly help you become yourself.
5Y News | "Shuce" Raises 100 Million Yuan in New Funding Round to Accelerate Digital Transformation in Auto Industry
Build data intelligence solutions deeply integrated with business scenarios.
5Y News | GPU chip design company Moore Threads raises billions of yuan in funding within 100 days of founding
Building China's computing acceleration platform.
Chip IP Company XinYaohui Closes Angel and Pre-A Rounds Totaling Over 400 Million Yuan | 5Y News
Accelerate chip innovation.
XinYaohui Closes Two Rounds Raising Over 400 Million Yuan to Develop Advanced-Process Chip IP and Accelerate Chip Innovation
Developing advanced-process chip IP products and solutions through independent R&D, bringing new luster to China's semiconductor industry.
"Vika.cn Vika" Closes Two Rounds Totaling Over $10 Million in Funding, Chen Peilin: Giving 1 Billion People IT Capabilities | 5Y News
"High-code" new-generation digital business systems — giving IT capabilities to a billion people.
The Meaning of Inward Exploration | 5Y Spring Festival Books & Film Recommendations
The new year approaches; wishing you spring's blessings.
5Y News | Pony.ai Closes $367 Million Series C Round
Since its founding four years ago, Pony.ai has raised more than $1.1 billion in total funding.
5Y Talk | A Conversation with Kuaishou's Hua Su: The Foundational Principle Is Altruism
On Adventure, Perception, and Inspiration.
5Y News | AI Ultrasound Company Deepwise Technology Closes Nearly 100 Million Yuan Series B+ Round
The combination of AI software and portable ultrasound is set to transform the healthcare services industry.
5Y News | Kuaishou, a 5Y Capital portfolio company, lists on the Hong Kong Stock Exchange. Congratulations to Kuaishou!
Here's to Kuaishou — may it thrive endlessly, connect all things, and create more beauty and order!
5Y News｜Neox Biotech Completes $30 Million Series A Round, 5Y Capital Continues Support
Exploring the most cutting-edge drug modalities.
Hyperparameter Closes $30 Million Series A+ Round to Accelerate Game AI Expansion
Dedicated to transforming how game content is produced through artificial intelligence.
5Y News | 5Y Capital portfolio company Superparameter Technology completes $30 million Series A+ round
Transforming game content production through AI.
5Y View | Xiaoxiao Zhou, 5Y Capital: The Underlying Logic of Business Is Supply and Demand
Companies that can truly close the loop on supply-demand dynamics are the ones that change the world — but they are few and far between.
5Y News | Xinhuazhang, a 5Y Capital portfolio company, announces completion of Series A+ round
Accelerating the R&D push for EDA 2.0, with continued backing from 5Y Capital.
Xinhuazhang, an EDA company, announced the completion of its Series A+ funding round to accelerate R&D progress on EDA 2.0.
Building EDA 2.0 technology for a digital society, defining an intelligent future from the chip up.
5Y News | Men's Grooming Brand "理然" Closes Nearly RMB 150 Million Series B Round
The next generation of male consumers is continuously evolving in their grooming and personal-image needs.
5Y News | 5Y Capital Portfolio Company StartDT (奇点云) Closes RMB 80 Million B2 Round
Openness and mutual success: building a new cloud-based, data-intelligent business together.
**Official Statement**
Statement on Illegal Fundraising Activities Conducted Under Our Company's Name
5Y Talk｜Kai Yu of Horizon Robotics: The "Crazy" You Others Saw, Now Starting to Be Believed
Our hope is to become the Intel of the robotics era — that has been Horizon Robotics' mission from day one.
5Y News｜Keep Closes $360 Million Series F Round, 5Y Capital Continues Backing
Exercise is just a Keep moment.
Gaorong Bulletin · December | Multiple Gaorong Ventures Portfolio Companies Secure New Funding in Chips, Robotics, AI Drug Discovery, New Brands, and Other Sectors
Stepping into 2021.
Galixir, a Source Code Capital portfolio company, raises tens of millions of dollars in funding, with existing investor Source Code Capital continuing to increase its stake
Galixir's technical capabilities are built on sophisticated AI models, enabling end-to-end coverage of drug discovery from hit compounds to preclinical candidates.
5Y News | Galixir Announces Completion of Tens of Millions of USD in Funding, with Continued Backing from 5Y Capital
Breaking the Bottleneck in New Drug R&D with "AI+"
5Y News | Three 5Y Capital Partners Named to Forbes China's "2020 Best Venture Capitalists in China" List
Qin Liu, founding partner of 5Y Capital, and partners Zhang Fei and Yuan Ye of 5Y Capital all made the list.
5Y News | Shukun Technology Secures Another 590 Million Yuan in Funding, 5Y Capital Continues Its Support
Shukun Technology Raises Another 590 Million Yuan in Funding, Accelerating Medical AI Value Realization with Triple-Class Certification and Capital Backing
5Y News｜Vivace Therapeutics Announces Completion of Angel Round Raising Tens of Millions of RMB
Huanyi Bio announced the completion of an angel funding round of tens of millions of RMB, led by 5Y Capital.
5Y Talk｜The Next Decade: Embracing the Age of Robots
5Y Capital is always searching for and backing promising technical founders — whether you're working in robotics, AI, or any other technology field, we'd love to hear from you.
5Y News｜Horizon Robotics Plans to Raise Over $700 Million in Series C, Completes C1 Tranche
Horizon Robotics announced the completion of its Series C1 funding round, with continued backing from 5Y Capital.
5Y News | MedSci Healthcare Announces Nearly 2 Billion Yuan Series E1 Funding Round
5Y Capital will continue to focus on how technological innovation drives efficiency gains and paradigm shifts in China's healthcare services sector.
5Y News | XKool Technology Closes Tens of Millions of Dollars in New Funding Round
Serving dozens of leading real estate developers, XKool Technology integrates artificial intelligence, big data, and cloud computing with the full lifecycle of architectural practice.
5Y View｜How to Think Independently and Outpace Your Peers
The most valuable ideas are found where no one is looking.
FreeS Fund Wins Multiple Awards from 36Kr, Jiemian, Sansheng, and Lieyunwang | Frees Fund Vol.5
Do what is right, not what is easy.
5Y News｜Deepexi Completes $40 Million Series A4 Round
Deepexi raised $40 million in its Series A4 round. We talked about why organizational building matters.
5Y News | EDA Technology Breakthrough Xinhuazhang Announces Completion of Series A Funding, Fully Deploying R&D for EDA 2.0
We believe the window of opportunity for new startups has arrived in the EDA space, one of the core platforms in the semiconductor industry.
5Y News｜HashData Raises $15 Million to Accelerate Cloud-Native Data Warehouse Development
HashData has raised $15 million in an A++ round led by 5Y Capital.
EDA Technology Breakthrough Xinhuazhang Announces Over RMB 200 Million Series A Funding Round, Led by Gaorong Ventures
Defining the future of intelligence, from the chip up.
5Y View｜The Future of Community Is Collaboration — Reflections on Community, Social Networks, and the All-Real Internet
A submission from the CEO of a 5Y Capital portfolio company.
5Y Talk｜ONES Acquires Tower: On the Multiplication Rule of ToB M&A
The synergies of M&A — where 1+1 yields more than 2 — are rarely obvious in consumer-facing businesses, but they become especially pronounced in enterprise software.
5Y News | Snowball Announces Completion of $120 Million Series E Funding Round
Congratulations to Xueqiu!
Source Code Capital portfolio company METiS Pharmaceuticals announced the completion of angel+ and Pre-A funding rounds totaling over 100 million yuan, with existing investor Source Code Capital continuing to increase its stake.
It was the first to propose building an AI-driven formulation development platform, jointly advancing new formulation drugs to clinical trials.
5Y News | Vastai Technologies, a high-performance intelligent vision chip design company, announced the completion of a $50 million Series A funding round.
Vastai Technologies has completed a $50 million Series A financing round, with 5Y Capital co-leading the investment.
5Y News｜Unknown Closes Tens of Millions of Dollars in Series B+ Funding to Advance Microbiome Drug Clinical Trials
Leading domestic microbiome therapeutics company Unknown has recently completed a tens-of-millions-of-dollars Series B+ funding round, with continued backing from 5Y Capital.
Source Code Capital portfolio company GalaxySpace announces new funding round, with existing shareholder Source Code Capital continuing to increase its stake
GalaxySpace, the first unicorn in China's commercial aerospace and satellite internet sectors, has now entered the final assembly phase for its second self-developed broadband communications satellite.
5Y News | PingCAP Closes $270 Million Series D, Setting a New Global Database Milestone
We believe this round of funding is only the beginning of our global expansion — a small step toward the future. The $100 billion global database market is our true north.
5Y News | GalaxySpace Closes New Funding Round, Becoming China's First Satellite Internet Unicorn
GalaxySpace, a leading satellite internet company, has closed its latest funding round at a post-money valuation of nearly RMB 8 billion.
5Y News｜Zilliz Raises $43 Million, Setting New Global Record for Series B in Open-Source Infrastructure Software
Zilliz announced the completion of a $43 million Series B funding round, with continued support from 5Y Capital.
5Y News｜Pony.ai Raises $267 Million in New Funding at Valuation Over $5.3 Billion
Congratulations to Pony.ai!
5Y View | Zhang Fei of 5Y Capital: Stray Dogs, Missionaries, and Gods
Life's experiences are a personal practice — and every one of us is on that path.
5Y News｜Influencer E-commerce Service Platform "Mokuai Technology" Closes Hundreds of Millions of Yuan in Series C+ Round
Social commerce service platform Mokuaan Technology recently completed a Series C+ round of several hundred million yuan, co-led by Eastern Bell Capital and 5Y Capital.
5Y News｜Agora x 5Y Capital, RTE 2020 Real-Time Internet Startup Challenge Wraps Up!
How to make the real-time internet sector more prosperous and discover more unicorns and innovative companies that create value for all industries is a shared goal of Agora and 5Y Capital.
5Y Capital Day 1: The You Others Thought Was Crazy, Starting to Be Believed
Setting out anew — the same team, the same founding vision.
Morning Star Portfolio Company "Nuoxin Chuanglian" Closes New 200 Million Yuan Funding Round | Light Moments
Nexon Healthcare, which builds digital bridges between pharmaceutical companies and doctors, has raised 200 million RMB in a new funding round.
Morningside-backed XtalPi raises over $300 million in new funding | Light Moments
5Y Capital has long been bullish on the application of computational science in the life sciences, hoping that the convergence of IT and biotechnology will soon usher human health into a new era.
Morningside-backed LifeTech Scientific raises over RMB 1.2 billion in new funding round | Light Moments
China's new drug R&D is undergoing a "Cambrian explosion." The industry's underlying infrastructure for pharmaceutical innovation is one of the core sectors we're tracking in healthcare.
5Y Capital Completes First Close of New RMB Fund | Light Moments
Recently, 5Y Capital completed the first closing of its second RMB-denominated fund.
5Y Capital's Xutian Jing: ITBT Sector Has a Promising Future, Poised to Produce a New Breed of Pharma Companies with Strong Cash-Generation Capabilities | Light View
ITBT is a long game, but when it succeeds, its contribution to human society is immense.
What were the big moments for us last month? | Light Moments August Report
IPOs, Funding, Strategic Partnerships, Awards... August in Review
The Triumph of Long-Termism: Morningside Recognized with Multiple Honors in 36Kr's "Most Founder-Friendly" and "Most LP-Trusted" Awards | Light Moments
On August 26, 36Kr's 2020 China Investor Future Summit was held in Shanghai, where the 2020 investment institution rankings were released, including:
Xpeng Motors' IPO: Key Moments We Know About | Light Moments
A new beginning, a new journey, a new chapter — congratulations to Xpeng Motors!
Morningside-backed XYZ Robotics closes nearly $20 million Series A+ round | Light Moments
Morningside-backed portfolio company XYZ Robotics has closed a nearly $20 million Series A+ round.
XYZ Robotics, a company specializing in robotic hand-eye coordination application technology, announced the completion of a nearly $20 million Series A+ funding round led by Source Code Capital.
Deep learning, 3D geometric vision, and optimal motion planning algorithms enable fully automated sorting in category-specific warehouses.
The Collision of AI and Pharmaceuticals: Galaxy Pharma Tech Raises Nearly $10 Million in Funding | Light Moments
Galixir announced the completion of a nearly $10 million Pre-A funding round. The round was co-led by Source Code Capital and DCM, with 5Y Capital participating as a follow-on investor. Gaorong Capital, the lead investor in the company's angel round, continued to increase its stake.
AI-assisted drug discovery company Galixir announced the completion of a Pre-A funding round of several million US dollars, co-led by Source Code Capital.
J&T Global Express has completed the development of drug discovery modules including retrosynthesis reaction prediction, drug screening, and molecular design.
Morningside Partners with Agora to Launch RTE 2020 Startup Competition, Hunting for the Next Real-Time Internet Unicorn | Light View
Who will be the next unicorn in the real-time internet space? The RTE2020 Real-Time Internet Startup Challenge is waiting for you!
5Y Capital's Qin Liu and Fei Zhang Named to PEDaily's "TOP100 Investors" List | Light Moments
On August 12, PEDaily, China's professional portal for entrepreneurship and investment under Zero2IPO Group, jointly released with Zero2IPO Research the authoritative **2020 "Investment TOP100" investor ranking** — with Qin Liu, Founding Partner of 5Y Capital, and Fei Zhang, Partner of 5Y Capital, both making the list.
Tribute to the Unstoppable Force | Light View
A tribute to the unstoppable force.
Gaorong News · December | Gaorong Ventures Named Among "China's Top 3 Best VC Funds of 2019," Ronghui "Youth Innovation Camp" Concludes
The future is bright.
Hyperparameter has unveiled its game AI progress for the first time, partnering with Seasun to develop "Orion α," a 3D survival game AI.
Deep integration of AI capabilities with gaming scenarios is showing broad application potential.
Gaorong Monthly · November | Gaorong Ventures Wins "2019 China VC Firm of the Year" and Other Awards, 24 Portfolio Companies Named to 36Kr's "King of New Economy" List
Embrace the power of technology and innovation to create a better life together.
Rongbao · September | YITU and Zhuiyi Clinch World Championship Titles, "Ronghui" Steps into QQ Mini Programs...
Wishing everyone a happy National Day!
GalaxySpace has completed a new round of financing, aiming to provide global 5G satellite communications and satellite internet services.
Following this round of funding, the company will continue to focus on R&D for low-orbit broadband communications satellites and the commercial deployment of application scenarios.
YITU was commissioned to build the national next-generation AI open innovation platform for visual computing, Pinduoduo and HUYA Inc. released their Q2 earnings...
More Gaorong Ventures innovation updates, all in the Rongbao newsletter.
XYZ Robotics raised its Series A round, leveraging world-leading robotics technology to power logistics and industrial automation.
Pick anything. Place anywhere anyway.
China's First AI Microbiome Drug Company "Unknown" Raises Nearly $10 Million in Funding
Leveraging AI and bioengineering technologies to deliver precision management of gut health for Chinese consumers.
Zhuiyi Technology Closes $41 Million Series C to Accelerate Industrial AI Transformation
From Enterprise Intelligence to Industrial Intelligence
Moka Closes Tens of Millions in Series A+ Funding to Become the Talent Weapon Behind Successful Companies | FreeS Fund Deal News
Overseas, the company with a similar business to Moka is Silicon Valley near-unicorn Greenhouse.
Yi Cao Named to 2017 China Top Venture Capitalists TOP50
Jiemian and Toutiao jointly released the "Top Venture Capitalists in China" list for the first time.
Ma Hui | Synced Closes Pre-A Round Led by Toutiao, with Source Code Capital as Follow-On Investor
Recently, Synced closed its Pre-A funding round, led by ByteDance with participation from Source Code Capital, Xunchan Tou, and 5Y Capital.
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