Bilibili
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Bilibili is a Chinese video platform listed on NASDAQ under ticker BILI . It was founded in the early 2010s and attracted early backing from IDG Capital at its Series A round, with Qiming Venture Partners also among its investors . Li Feng, then a partner at IDG Capital, led or participated in Bilibili's early-stage investment around 2012–2013 before the platform's eventual U.S. listing . The company has since expanded beyond its origins as a video platform into strategic investing itself — for instance, it co-invested with 5Y Capital in the emerging designer brand Bosie in 2021 .
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Coverage
A Conversation with Kunpeng: After Ten Years, His Dream of Live-Action Interactive Film Games Is Finally Being Seen
The real value of AI is in building dreams for smaller circles.
真格基金·A Conversation with Kunpeng: Interactive Movie Games With Real Actors Suddenly Took Off — The Dream He'd Chased for Ten Years Finally Got Noticed
真格基金·Valued at $70 Million: ZhenFund and IDG Bet on Another Path for AI Companionship
Not just AI boyfriends.
暗涌Waves·The First Streamer in China to Beat *Black Myth: Wukong* with Motion Controls, Defeating a Boss with a Wave of a USB Device
真格基金·Interview with Liu Binxin, Heart Shadow Follows Form: AI Products Shouldn't Compete with Short Videos and Games for Users
Companionship that doesn't compete for your attention.
暗涌Waves·MiniMax Agent Gets Another Upgrade: $150K Global Challenge | Yunqi Capital
A Journey of Discovery That Any of Us Can "Get On Board"
云启资本·Expo Hopping and Gossip: Fresh Dispatches on Linear Capital From Inside and Outside WAIC | Linear News
At the singularity of thought, the future is compiling itself.
线性资本·IDG Bets on Liu Jingkang: A Victory for Doubling Down on Young Founders
The company turned ten this year; its VC backers have been along for the ride for twelve.
暗涌Waves·Conversation with YouWare's Ming Chaoping: They're Skeptical That AI Coding Is a New Form of Creation — and I'm Thrilled | Z Talk
The promising AI product founder chose a path few others dared to take.
真格基金·AI + Gaming: Unlimited Potential, But Where's the Innovation Entry Point? | 5Y Capital Tavern Vol. 28
A Conversation with Veteran Gamers and Game Developers
五源资本·From Selling Robot Vacuums to Billions, a Post-'95 Entrepreneur Enters the AI Hardware Race | Z Talk
"Being number one" is the most efficient management tool.
真格基金·What Would Qiming Venture Partners Look Like Without Nisa Leung?
Together, we welcome a new era.
暗涌Waves·The Hype Around *Black Myth: Wukong*, and the Barren Landscape of Game Investment
The world needs *Black Myth*.
暗涌Waves·Jing Liu × Feng Li: In the Future, What Kinds of Companies Will Thrive? | Feng Li Column
Always look at the other side of the coin.
峰瑞资本·Setting Out on a Journey at 36 | Call for Submissions
"Knowing would be fatal. Uncertainty is what makes it enchanting."
暗涌Waves·Goodbye to a Decade of Venture Capital | Waves' Second Anniversary
Keep moving forward. Don't look back.
暗涌Waves·Li Xiang × Li Feng: In Waves of Technological Change, Why Is Gaming Usually the First to Make Money? | Li Feng Column
From a Brief History of Gaming to New Online Game Regulations: Finding Innovation Opportunities in the Industry
峰瑞资本·DPI > 1 — it's a magic spell.
Before taking responsibility for a new world, GPs must first answer to their LPs.
暗涌Waves·The Indefatigable Zheng Xuanle
The Dividend Generation and Those Who Get Their Hands Dirty
暗涌Waves·A Complete Map of China's Industrial Investment: When the Gears of Fate Begin to Turn
Seven sectors, 200 investments, 500 funds — all in nine charts.
暗涌Waves·Qiming Venture Partners Raises Record 6.5 Billion RMB; Duane Kuang: Scale Was Not the Goal
2020 was a watershed year.
暗涌Waves·Li Xiang x Li Feng: Why Did ChatGPT Emerge Today? What Happens Next? | Li Feng Column
Is there still a chance to build a Chinese OpenAI?
峰瑞资本·"This Is an Ordinary Day" | 2022 in Review
Don't summarize unless necessary.
暗涌Waves·October is full of hope and fervor | 5Y News Monthly
The major events from last month.
五源资本·5Y News | Chinese Emerging Designer Brand "bosie" Closes New Funding Round of Several Hundred Million Yuan
Break free from constraints. No divisions, no boundaries.
五源资本·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.
五源资本·The Best Is Always Ahead | 5Y News Monthly
Happy Labor Day!
五源资本·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.
五源资本·Is the Internet Destined to Have a Next New Platform? | FreeS Research
Will the new decade that began in 2021 be a better one for entrepreneurship?
峰瑞资本·What Happened to China's First Wave of '90s Founders? | FreeS Fund 2020 CEO Annual Meeting
"When you're young and truly believe in something, you'll give it everything you've got."
峰瑞资本·Before Mastering Taobao, Douyin, and Kuaishou Marketing Tactics, Learn Product and Data Thinking First | Ronghui
In the wave of data-driven marketing, marketing has become product and operations.
高榕创投·A Visual Guide to How New Platforms Are Born | Li Feng Column
The Importance of Datafication to Platform Ascendance
峰瑞资本·Why We're Bullish on Virtual Idols | Frees Fund
A Brief History of Virtual Idols in Japan, and Their Future in China.
峰瑞资本·Thinking Through Turning Points and Opportunities Amid the Pandemic from a Global Citizen's Perspective | FreeS Fund North America Online Sharing
Welcome to sign up, VC friends from across the US and anyone following the China-US venture capital scene.
峰瑞资本·Richard Liu: As the Pandemic Enters Its Global Second Half, How Can Chinese Startups Seize Antifragile Growth Opportunities
Ten Growth Tips for Founders
高榕创投·FreeS Fund Recognized with China Renaissance "2019 Top 10 Best Angel Investment Firms" and Multiple Other Accolades
Do what's right, not what's easy.
峰瑞资本·FreeS Fund was named to Zero2IPO's "Top 50 China VC Firms of 2019" and "Top 30 China Cultural Consumption Investment Firms of 2019."
Do what's right, not what's easy.
峰瑞资本·5 Deals, Double 11 Results Roundup, 24+ Awards... 42 Highlights and 7 Insights | FreeS Fund Blackboard · November
Do what's right, not what's easy
峰瑞资本·FreeS Fund Named to 36Kr's "China's Most Influential Early-Stage Investment Institutions TOP 10"; Four Portfolio Companies Win "King of New Economy" Annual Company Awards
Do what is right, not what is easy.
峰瑞资本·FreeS Fund 2019 North America Trip ② | We Hope to Walk Through the Fog and Discern the Patterns with You
Six VC Meetups — Come Say Hi
峰瑞资本·We have an "Investment Observer" position waiting for you to join.
"Do What's Right, Not What's Easy" — Together
峰瑞资本·Jing Liu in Conversation with Li Feng: China's Economy Is Bottoming Out, Full of Opportunities
In the end, it's not about the moves — it's about the strength behind them.
峰瑞资本·FreeS Fund Lands on 36Kr's "Top 10 Dark Horse Funds in China," Hard Tech Bets Earn LP Recognition
Do what's right, not what's easy.
峰瑞资本·Bilibili Score of 9.7, PepsiCo Partnership, "Ten Thousand People Plan"... 6 Takeaways and 4 Insights | FreeS Fund Chalkboard · February
Do what's right, not what's easy.
峰瑞资本·FreeS Fund Is Hiring Investors | Let's Do What's Right, Not What's Easy
"The Summit" is rising — we're waiting for you!
峰瑞资本·Spend Your Summer Mastering VC Skills | "Fengshen Rankings" Season 3 Recruitment
Want to come?
峰瑞资本·FreeS Fund Is Hiring a PR Lead | Join Us and Make Impact Visible
Welcome aboard.
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