ByteDance

Liblib, what's your dream?

Here's to hoping we can keep winning.

ZhenFund-backed "Mindverse" Closes $50 Million Series A to Build Continuously Learning Agent Models

Let intelligence truly understand every unique soul.

"Xinzhou Technology" Closes $50 Million Series A Led by Meituan | Linear Portfolio

An agent's capabilities ultimately come down to the underlying model training.

After Opus 4.5, AI Is Giving Rise to "Giant-Style Hundred-Person Companies"

Speed of iteration matters above all else.

The Unforgettable Series C Funding of Moonshot AI

A stroke of genius.

Exclusive Interview with LimX Dynamics Founder Wei Zhang: Embodied AI "Isn't Competitive Enough," World Models, and Robot Brains

Demystifying the "World Model"; "You Can't Win If You're Afraid to Lose"

A Few Strange Things About AI Interactive Content

It's not enough to ride a big wave to win big.

Xiaohongshu's Youngest Business Unit Head Strikes Out on Her Own, Using AI to Reimagine "Grass-Seeding"丨début

No more speculation, no more spectating.

Possibly the World's Smallest VC

Small in stature, big in dreams.

Wang Xinming: I'm China's Biggest LLM Wrapper, and I'm Not Ashamed of It at All丨elselier

He was about to lose his job, but he became one of the first people in China to get access to ChatGPT.

Sequoia Capital China: And I Choose to Start a New Table

Sequoia Capital China's culture is about winning and conviction.

The "Whole-Team Lobsterization" Playbook at an AI Startup: 30 People × 70x Efficiency Leverage | Gaorong Future

"Tokens as Combat Power"

"Shenpu Intelligence" Closes New Financing Round of Several Hundred Million Yuan, Led by Linear Capital | Linear Portfolio

Using family-like commercial scenarios as an entry point.

"Octopus Power" Secures Hundreds of Millions in Funding Led by Top Singapore VC K3, with Linear Capital Continuing to Invest | Linear Portfolio

Lay a more solid foundation for the go-global strategy.

Global Capital Goes Risk-Off: Where's the Money Going? | Macro Musings

Risk Off | The 2001 Dot-Com Bubble? | The Aftermath of the US-Iran Conflict

AI Unicorn Factory

Script, catfish, loop, rainmaker, role model, results.

The Sora Shutdown: AI Enters the "Brutal Reckoning" | Yunqi Tech π

The Disappearance of a Viral Hit

"OdyssLife" Closes Nearly 200 Million Yuan in New Funding, Linear Capital Continues to Double Down | Linear Portfolio

The world's first smart wearable hardware product for dietary monitoring.

The First Lobster Batch Deployment Management Tool: How Lobster, Which Raised Millions in Funding, Wants to Help Everyone Build a "Company of One"

Some people are already pulling in tens of thousands a month from this.

Former LiblibAI Co-founder Raises Tens of Millions in USD for New Startup, Using "World Simulator" to Break Into AI Entertainment

Find a "milk-tea kind" of happiness in a self-created virtual world.

Using AI for In-Depth User Interviews, Backed by Lanchi Ventures, Hillhouse Capital, and Wang Huiwen

AI may not be great at companionship for a lifetime, but it can nail a one-hour interview.

Looking for the Next Gen Roblox

In gaming, we should always maintain a sense of reverence for what makes something genuinely fun.

Dancing with Love, Zhang Huaiting: Staying a Calm "Value Builder" Amid the AI Hype

Make decisions toward your goals, not away from your difficulties.

DeepWisdom Raises $220 Million in One Year, Finally Launches First Product

Not just writing code, but launching a company.

"Independent Variable Robotics" Raises 1 Billion Yuan in A++ Round | Yunqi Capital

Building Foundation Models for the Physical World

The True Story of Huadong Wang

"He's the Haruki Murakami of China's investment world."

Vol.002 | A Conversation with Huadong Wang: Living a Haruki Murakami Life

Dropping Out of Middle School at 14 vs. Writing Code at 13: The Unconventional Path of a Non-Standard AI Founder

When the endgame is unclear, what do you set out with?

Liang Jun's First Year at the Helm: Fangqing Tech Raises Over 500 Million RMB in Three Rounds Within Six Months

A star-studded lineup of shareholders quickly assembled.

Dancing with Love: Zhang Huaiting on Serial Entrepreneurship — Why Education Deserves Another AI Makeover | Tsinghua Campus Tour

At a technological inflection point, you have to throw yourself in to seize the era's opportunities.

Allen Zhu invested in a Vibe Workflow company

"Coze for Dummies"

After Leaving TikTok, He Built a Viral Video Cloning Agent — NemoVideo Raises Nearly $10 Million from IDG and Jinqiu

The core is the productivity community.

Yunqi Capital | Astribot Raises Hundreds of Millions in A++ Round to Accelerate Scale Deployment of Cable-Driven AI Robots

The Pioneer in Mass-Producing Cable-Driven AI Robots Continues to Evolve

From Foundation Models to AI Companions: What Cyclical Patterns Lie Behind the Rotation of AI Hype Cycles?

First figure out how to "make something people love," then consider "what role AI plays."

Managing $7 billion in annual ad spend, the person who understands global traffic better than anyone just built an AI agent

What happens when we treat data as a living organism?

Hongshan's Seed Fund Backs New Startup Building an AI-Powered LinkedIn

Can AI connect people with one another?

Is AI Healthcare Having Its DeepSeek Moment? | Frees VC Research

AI healthcare is becoming an open secret.

Deep Dive: a16z's Global Top 100 AI Apps — New Patterns and Trends | Yunqi Techπ

It's not just about who's fastest — it's about who can stick around.

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.

Are Models and "Shells" Both Undervalued? ZhenFund's Yusen Dai's Mid-2025 AI Review --- The past six months have been a turbulent period for AI. On one hand, DeepSeek's breakthrough has reignited global enthusiasm for Chinese AI; on the other, the commercialization path for large models remains unclear, and the market is growing increasingly anxious about when AI will generate real returns. Against this backdrop, I believe it's necessary to take stock of where we stand at this mid-point in 2025. **The Core Question: Are Models and "Shells" Both Undervalued?** Over the past two years, the AI industry has cycled through several narratives: from the initial frenzy over foundation models, to the subsequent boom in AI applications ("shells"), then a period of disillusionment as applications failed to deliver, and now a renewed focus on models following DeepSeek's success. But I want to propose a contrarian view: **both models and "shells" may be simultaneously undervalued by the market right now.** This might sound paradoxical. Let me explain. **Why Models Are Undervalued** The market's current skepticism toward model companies stems largely from two concerns: the commoditization of models (will they all become undifferent

In 2025, the "Sedol moment" for industries far and wide is only just beginning.

User Base Breaks 10 Million, Dream Dimension's Shen Qiajin: AI App Entrepreneurship Is Riding the Waves — You Have to Catch Every Surge of Foundation Models

The next most important frontier is multimodal AI and agents.

2025 AI Mid-Year Review with Yusen Dai: OpenAI's IMO Gold, Moonshot AI K2's Comeback, Agent Adoption, and the Talent War

Rongbao | Geekplus, Saint Bella Go Public in Hong Kong; Deep Research, Design Agent Launched

See further into the future.

Yuaiweiwu Lin Wang: From Education Going Online to Going Intelligent — When Will the AI-Powered All-Capable Personal Tutor Arrive? | Gaorong Future

"Yuaiweiwu" — dancing with love, and dancing with AI.

Yunqi Capital's Chen Yu: AI Entrepreneurship Isn't About Speed — Direction and Endurance Matter More | Partner Perspectives

Achieve non-consensus breakthroughs with limited resources

Wang Hua's Latest Prediction: The Biggest Difference Between the AI Era and the Mobile Internet Era Is Fulfillment, Not Connection

The first year is the golden window to capture the first-mover advantage on model dividends — start building now.

Before Pop Mart's IPO, an unpublished interview with Wang Ning

Only human nature never changes.

VAST Closes New Funding Round of Tens of Millions of Dollars, Says "Model as Product" Is Not a Real Product

A new path.

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.

The Ambitions, Dilemmas, and Endgame of AI Coding | FreeS Research Institute

After OpenAI and Apple Bet on AI Coding, Do Startups Still Have a Shot?

Exclusive | Luminous Sail Tech Raises 130 Million RMB in Three Months, with CATL Co-founder, Shokz, and Goertek Joining

The age of warring gods is back.

ZhenFund's Yusen Dai: A Deep Dive on AI Agents — Every Industry Will Face Its "Lee Sedol Moment" (Part 2)

We're still on day one of the AI intelligence revolution.

ZhenFund's Yusen Dai: A Long Conversation on AI Agents — Every Industry Will Face Its "Sedol Moment" (Part 1)

In the Agent era, "attention is not all you need."

The Clear Path, Hidden Path, and Rocky Path of AI Fundraising

Where does the money come from?

A Long Conversation with Yusen Dai on Agents: Every Industry Will Face Its "Sedol Moment" — Is Attention Not All You Need?

Is Hupu Really Worth Only 500 Million After Peaking at 7.7 Billion? That's a Misunderstanding

A Misunderstood Acquisition

Ban one TikTok, and a thousand TikToks will rise in its place | Undercurrent Worldview

The Perils of Globalization for Chinese Companies

Angry Miao Li Nan's Unfiltered Take on "AI Glasses": Stop Kidding Yourself About Tech, Cash In on the Hype While It Lasts | Z Talk

The payoff on this smart glasses wave could come far faster than anything we've seen before.

Two Tech Giants Invest in a 3D Generative AI Startup | WAVES

Meituan and ByteDance invested simultaneously.

Yunqi Capital in Conversation with MiniMax's Junjie Yan: Looking Back at 2024, What Changed and What Stayed the Same in AI Entrepreneurship | Yunqi Doers

On Original Innovation Intent, Technical Roadmap, and Product Portfolio

Countless Lies About M&A in China, and One Truth

All we hear are footsteps on the stairs, but no one ever comes down.

After Raising Hundreds of Millions in Funding, Mei Tao on How This Generation of AI Entrepreneurs Should Build

When the wave comes, jump with it.

Essential SEO for the AI Era | Bolt Recommends

Vercel Research: The Rise of AI Crawlers

Revisiting Shan Weijian: Plain Water and Financial Storms

Drink the lightest water, close the biggest deals.

The AR path is grueling, but Xu Chi still wants to know what the finish line looks like | WAVES

Those without ideals don't grieve.

A Conversation with Li Xiang: Throwing Questions at Someone Who's Always Asking

Reflections of a Lifelong Business Journalist

Conversation with "42ZhangJing" Qu Kai: The Earlier You Boldly Believe in AI, the Greater Your Potential Returns | AI Applications 100 Questions

First-Hand Observations on Industry Dynamics, Product Moats, and Founder Traits

Surviving 12 Years in the Cracks: How He Finally Built China's Most Active AI Product | WAVES

Fighting back from the brink.

Event Recap | Search, Character.AI, Hardware: A Year of AI's Bumpy Road to Real-World Deployment

Linear Capital vs. Zhipu AI's Z Program — Text Summary

September AI Watch: New Models, New Apps, and Where AGI Goes From Here | Yunqi Capital Attent!on Tech Notes

The Revolution Continues

Yuan Liu of ZhenFund: What Kind of Entrepreneur Stands Out in This Era? | Z Talk

Great investors recognize patterns; great founders break them.

VAST Closes New Funding Round: Is 3D the Last Ticket for AIGC?

Will 3D Be the Future?

Let's go to Mexico with Anyong | Waves Odyssey

Join us.

蜂巢科技夏勇峰：AI眼镜是最理想的智能硬件形态吗？| Yunqi Capital

Getting a Head Start Before the "Battle of a Hundred Smart Glasses"

AI Product Growth: Before Talking PMF, First Achieve AI Market Fit | Ronghui Practical Insights

The defining feature of future AI-native products will be that the product adapts to the person, not the other way around.

Yunqi Research Select | Mid-Year AI Industry Review: Ten Hopes and Heartbreaks in the Year of Implementation

How Does the Balance Between Cost and Effectiveness Tip?

Exclusive | Actually, DST Bought Xiaohongshu Secondary Shares

Mega funds still making deals.

Eight Hard Thoughts on the Vitality of AI Hardware | Yunqi Capital × Zhixing Attent!on Shenzhen Recap

From *One Punch Man* to *Ready Player One*

Consensus Within Non-Consensus: A Conversation Among China's LLM Investors | Yunqi Tech π

New Wave, New Future

When Moonshot AI's investors sat down with MiniMax's investors

Five individuals and two companies.

Using AI to Accelerate Discovery of Efficient Catalytic Materials, "Deep Principle Technology" Raises Nearly $10 Million in Seed Funding Led by Linear Capital

By Chen Sida | Edited by Deng Yongyi Source: Intelligent Emergence From household daily chemical products to high-efficiency catalysis for energy use, nearly every aspect of life and production depends on emerging materials. The old "needle in a haystack" trial-and-error approach can no longer meet today's materials R&D demands. But the AI boom sparked by the large model wave is bringing "AI alchemy" closer to reality.

Looking Back at AI's "May": The Five Most Important Little Things | Attent!on Tech Notes

The future is already here — it's just not evenly distributed.

Exclusive | Moonshot AI's valuation reaches $3 billion in new round; Tencent joins after Alibaba

A full list of Moonshot AI's investors to date.

Yunqi Capital | In Conversation with MiniMax's Junjie Yan: AGI Isn't a Weapon — It's a Product Ordinary People Use Every Day

MiniMax is already one of China's most highly valued large language model companies.

ZhenFund's Tianyi Qin: Globalization Will Unfold Cautiously in a New Form

Investing overseas, but not talking about the destination.

How Far Are We from LLMs Creating New Commercial Growth and Super Apps? | Ronghui · Inside Volcano Engine

Large language models are driving new business growth and novel forms of interaction.

Replicating Sora? Long-context or RAG? Are Agents a fake demand? | Yunqi Capital's Ten Questions X Attent!on

Just enjoy the "petrichor" of AGI.

China's LLM Funding War: The Quick Death of Romance

Do the investors regret it?

Goodbye to a Decade of Venture Capital | Waves' Second Anniversary

Keep moving forward. Don't look back.

AI Watch: Snake Meets Tetris | 5Y View

Quarterly AI Industry Observations 1Q24

When the Inventor of Unicorns Stops Believing in Unicorns

Using valuation as the benchmark for a unicorn's success is convenient, but far from perfect.

Looking Back at 2023: The World Has Really Changed

These people and events reshaped 2023 — and will shape the years ahead.

Live from OpenAI's Developer Conference: GPT Dead Last? | Yunqi Capital Tech Talk

What's more important is...

How Far Are We From "Ready Player One"? The Technical Challenges of XR Through the Lens of Apple Vision Pro | FreeS Report 33

What other innovation opportunities remain in the XR space?

2023: What New Opportunities Did AI Bring to the Gaming Industry? | FreeS Fund Venture Dialogues

From *Eggy Party* to *Justice*, How Is AI Reshaping the Gaming Industry?

Coatue's 2023 in Detail: Half Sea Water, Half Flame

Could AI become the lifeline of the economy over the next decade?

Large Models Are Just the Beginning: Toward a Future of Multi-Agent Systems and Close Human Collaboration

"You're only 36. You can be anyone you want to be."

Never stop moving forward.

5Y News | Portfolio Company DataBlackhole Closes Nearly RMB 100 Million Series C2 Round

Toward "Enterprise-Grade."

Exclusive | The General-Purpose LLM Startup Wave: The First Battle Is About to End

Contestants, take your positions.

Why "Copy to China" Is Hard to Replicate, and Where China's LLM Opportunity Lies

Recently, Bai Zeren, Senior Investment Director at Linear Capital, sat down with *Jazzyear* to share his views on the entrepreneurial opportunities brought by ChatGPT. When it comes to the domestic market for large language model startups, Linear Capital remains optimistic. "While the engineering detours and challenges will take time to work through, the probability of Chinese companies producing something with 80% of ChatGPT's capabilities within two to three years is quite high — even if surpassing what OpenAI has already built will be difficult."

5Y News | 5Y Capital Portfolio Company "Nowcoder" Closes $50 Million Series B Funding

Powering the full lifecycle of campus recruiting — from sourcing to onboarding.

"This Is an Ordinary Day" | 2022 in Review

Don't summarize unless necessary.

Hebin Intelligence: Pioneering a 7-DOF Ultrasound Robot to Build a Full-Chain Intelligent Ultrasound Diagnosis and Treatment Service Platform Covering Scanning, Diagnosis, and Treatment

At the recent final round of the "2022 Straight to Wuzhen" Global Competition, dark-horse contender **Hefei Hebin Intelligent Robot Co., Ltd. ("Hebin Intelligent")** in the intelligent ultrasound robotics field outperformed the competition to take second prize, emerging as a rising star in the digital healthcare track.

ChatGPT is the talk of Silicon Valley, but the buzz is theirs.

"Some people laughed. Some people cried. The vast majority fell silent."

The Hidden Depths of the Primary Market

If a perfect deal is one where everyone wins, then in an S deal, that may never be possible.

Linear Academy｜Former Founding Team Executive on How OnePlus Navigated Its Early Startup Days

Recently, Linear Academy invited the former VP of OnePlus's Platform Center and a founding team executive to share his insights with Linear Academy friends in an online session. He discussed OnePlus's startup phase, acceleration period, and development lessons to date, with particular focus on how a relatively niche brand built global influence in the smartphone market. We've compiled portions of his talk to share with you. Below is a transcript of Gong Yin's remarks.

Back in the Office: Rethinking What Makes a Great Organization | Ronghui Practical Insights

Stay stretched out, avoid rigidity.

Linear News | AI Frontier Tech Startup Mindverse Raises Angel Round in the Tens of Millions, Led by HSG with Co-Investment from Linear Capital and K2VC

The MindOS framework endows AI with associative mechanisms, enabling enterprises to deploy customized virtual minds.

Spring Comes Quietly to Guomao

For China's investment industry at this moment, the eerily quiet Guomao feels like a metaphor.

SheIn Says No IPO Plans for Now as New $100 Billion Valuation Remains Unconfirmed

SheIn responds exclusively to *Dark Tides Waves*.

5Y News | Xmov Raises $130 Million to Build Metaverse Infrastructure

Achieving scale, interactivity, and intelligence in metaverse content.

The Gambler's Mirage in a Downturn: When a Fund Goes All-In on a Single Company

In the investment industry, it's as ubiquitous as air. When markets plunge, it also faces the greatest risk.

Global SaaS, New Brands, and Biopharma Companies Close New Funding Rounds | Rongbao · February

The vitality of spring.

Cloud-native intelligent industrial design SaaS provider Shexu Technology closes Series A funding

Establish an intelligent design technology system for industrial machinery design scenarios.

Farewell to a Year of Inflection Points: Will 2022 Be Better? | Li Feng's New Year Outlook

Where the heart leads, steady steps take you far.

February: When the Tiger Roars, the Wind Rises | 5Y News Monthly

The big news from last month.

5Y News | Xilicon Microelectronics Raises Hundreds of Millions of RMB in Series D Funding

Accelerating the rollout of its multi-sensory fusion strategy and commercializing it.

How Do Tech Companies Go From "Technology Is Valuable" to "Technology Makes Money"? | FreeS Research --- In the past two years, the tech industry has undergone a profound shift. The era of "technology for technology's sake" is fading. Companies that once commanded sky-high valuations based on technical prowess alone are now facing a harsh reality: investors and markets increasingly demand proof that technology can translate into sustainable profits. This transition—from "technology is valuable" to "technology makes money"—is far from automatic. It requires fundamental changes in how tech companies think about product-market fit, commercialization strategy, and organizational capabilities. ## The Valuation Trap For years, Chinese tech companies were rewarded for technical milestones. Breakthroughs in AI, quantum computing, or autonomous driving could attract hundreds of millions in funding before a single revenue dollar was earned. The underlying assumption: superior technology would inevitably find commercial applications. This logic has collapsed on multiple fronts. Some technologies proved to be solutions in search of problems. Others faced regulatory headwinds that made their intended business models unviable. Still others discovered that the cost of commercial deployment far exceeded initial projections, rendering unit economics untenable. The result is a growing cohort of "zombie unicorns

Why should tech talent avoid "walking around with a hammer looking for nails"?

5Y News | Graph Origin Raises Several Million USD in Angel Round to Build Low-Barrier Collaborative 3D Creation Engine

Build a 3D content creation tool for the masses.

Chao Wan Zu (潮玩族) Completes Series B Funding Round, Building a Community for Young Collectors

China's largest secondhand designer toy trading platform and community.

December, Everything Within Reach | 5Y News Monthly

The big news from last month.

The Beijing Stock Exchange Sets Sail: A Rational IPO Planning Guide for Startups | Ronghui Practical Insights

CITIC Securities Construction Li Xudong: Key Highlights of the Beijing Stock Exchange Regulatory Framework

5Y News | Portfolio Company DataStart (奇点云) Closes Over 200 Million RMB in Series C1 Funding

Stay firmly focused on the data middle platform.

Congratulations to UJU Interactive on its Successful Listing on the Hong Kong Stock Exchange | Gaorong Ventures News

A leading player in online short-video marketing solutions.

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?

Gaorong Bulletin · September | Gaorong Ventures Ranks Top 3 in 2021 VC Fund Returns, Milestones for Cross-Border Services, New Drug R&D, and New Brands

Consumer investment is returning to natural consumer demand, and medical technology innovation is emerging.

Lark's Zhang Nan: How ByteDance Scaled from 100 to 100,000 People Through Tool-Driven Organizational Evolution | Ronghui Practical Insights

How to "scientifically" improve an organization.

"Let Every Talented Ordinary Person Create Music" — ACE Virtual Singer Closes Pre-A Round | 5Y News

The next-generation music creation and distribution platform.

Metaverse Development Hypothesis: Rising from Social, Ending in Digital Immortality | FreeS Research

What Is the Metaverse? Where Did It Come From? Where Is It Going?

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.

How to Build Your Corporate Brand Strategy from 0 to 1 | FreeS Talk

"Different" beats "better."

"You always need to balance desire, capability, and resources" | FreeS Fund 2021 US-China Venture Forum Transcript

Startups or Investing: A Game of "Truth or Dare" at the Intersection

How Can Startups Build a Steady Stream of Top Talent? | FreeS Fund Free Talk

Building a Team in the Early Days: Forget Titles, Focus on Functions

To Better Kick Off March | 5Y News Monthly

The major events of February.

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.

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.

Building a Brand Is Starting to Look Like Building an App — What Can Consumer Brands Learn From Super Apps About Growth? | FreeS Research

Five Brand Strategies for the New Media Era

Chen Yaochang: World Factory + Social Media + Talent — More and More Global Brands Will Emerge from China | Ronghui

Over the next five years, we're bound to see more and more international consumer brands emerging from China.

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.

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."

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:

In Our Sixth Year, FreeS Fund Is Hiring Investors | Let's Do What's Right, Not What's Easy

Betting on the power of innovation, staying research-driven.

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.

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.

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!

Tribute to the Unstoppable Force | Light View

A tribute to the unstoppable force.

Why We're Bullish on Virtual Idols | Frees Fund

A Brief History of Virtual Idols in Japan, and Their Future in China.

33 Days as a CEO: Organizational Change in a Pandemic | Ronghui

Shuidi's Shen Peng: Strengthening Organizational Culture and Launching Organizational Reform Amid the Pandemic

"iBeidiao" Raises Tens of Millions of RMB in Series B1 Funding | FreeS Fund Investment News

A seemingly unsexy industry has finally found its spring.

Video Technology Company YouHua Tech Raises Tens of Millions of USD in Series B Funding | Gaorong Ventures News

We will continue to increase R&D investment. Strong technical and product capabilities are the foremost conditions for winning in the video space.

ByteDance HRD Du Hong: What Can Startup HR Actually Do for a CEO? | FreeS Fund Free Talk

Are values really that big and empty? No.

[Deep Dive] How Startups Can Ride Douyin's Traffic Wave | FreeS Fund Perspectives

Create content that machines can understand and users want to consume.