BlueRayMed
蓝极医疗
BlueRayMed (蓝极医疗) is a Chinese medical device company focused on high-end laser surgical equipment. Founded by Mu Liyue, who returned to Xi'an from Silicon Valley, the company develops laser products for medical applications . Dalton Venture (道彤投资) and CASSTAR (中科创星) are among its institutional backers, with additional investment from XJTU 1896 (西交1896), Shaanxi Venture Capital (陕创投), Qujiang Financial Holdings (曲江金控), and Naton Technology (纳通科技) . BlueRayMed was recognized as a national-level "Little Giant" (国家级"小巨人") company, a designation for specialized and innovative firms, with its focus on premium medical equipment noted in Dalton Venture's 2026 portfolio review .
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Coverage
From Early Innovation to Industry Recognition: A Map of Dalton Venture's Specialized and Innovative Portfolio Companies
"Specialized, refined, distinctive, and innovative" enterprises are increasingly becoming a key benchmark for assessing the growth quality of China's technology and innovation companies. It represents not only a company's technical strength, innovation capability, and growth potential in niche sectors, but also serves as external validation from the industrial system of the value of outstanding SMEs. Recently, **Xuanyu Medical**, a **Dalton Venture family company**, was once again named to **Shanghai's second batch of 2026 specialized, refined, distinctive, and innovative SMEs. This marks Xuanyu Medical's continued recognition following its 2023 selection.
Steady Steps Toward Renewal, Momentum Into Waves | DTX 2025 Annual Review
Those who walk deeper into the cycle always spot the next beam of light.
Steadfast Progress, Grounded in Action | Dalton Venture's 2024 Year in Review
Looking back at 2024, "adjustment" and "patience" became the defining keywords for venture capital. Yet on the long-distance track of life sciences and medtech, Dalton Venture kept moving forward with steady, deliberate strides. We navigated market fluctuations, caught glimpses of innovation, and helped companies take root and grow through the cycles — writing a new chapter of innovation-driven development with the power of capital.
Spring in Full Bloom, Brilliance Across All Things | Dalton Venture's 2024 CEO Summit Successfully Held
The annual Two Sessions have always been a critical barometer for China's economic trajectory and policy direction. This March, when the government elevated "new quality productive forces" to the top of its work agenda, it sparked intense interest and vigorous debate across industries about this buzzword. As one of the most dynamic drivers of technological innovation and industrial transformation—and a strategic emerging industry that lies at the heart of future industrial planning—how should the medical sector translate new quality productive forces into practice? And where will it steer the development and transformation of the life sciences industry?
Inside the Dalton Family | Mu Liyue of Lanji Medical: From Silicon Valley Back to Xi'an, I Want to Build a Laser Product That Truly Matters to Medicine
Changing the World Through "Medicine-Engineering Integration"
The Essential GP Skillset Today: Reading Policy, Reading the Macro Trend, and Getting the Timing Right | Dalton Insight
China's past economic growth was bought with high-intensity input of production factors. The only way to break through going forward is to use technology to transform production relations and shift toward high-quality development.
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.
"6th Future Healthcare 100" Roundtable: Investing in Future Healthcare — How to Nurture World-Class Innovative Enterprises?
VBData's "6th Future Healthcare 100 Conference" took "China Story" as its theme. During the heavyweight panel discussion, titled *Investing in Future Healthcare: How to Support the Emergence of World-Class Innovative Companies*, six investment firms gathered to debate how China can continue producing world-class innovators and lead at the global frontier.
