HSG

Go invest in games, like you've never been hurt before.

Playing the game of life.

ZhenFund Angel Project "Hyde Hydrogen Energy" Completes Series B+ Round, Fluctuation Hydrogen Production Breaks Through Green Hydrogen Cost Parity Singularity

Long-duration, stable, and continuous low-carbon energy supply.

Liblib, what's your dream?

Here's to hoping we can keep winning.

The DeepSeek Financing Story

"The world was always meant to be this way."

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

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

Guangyu Yuanxin Closes Pre-A and Pre-A+ Rounds, Raising Over RMB 100 Million in Total | Linear Portfolio

Solving the three core challenges in Micro-LED industrialization.

The Unforgettable Series C Funding of Moonshot AI

A stroke of genius.

On the Eve of IPO, a Conversation with METiS Pharmaceuticals' Caida Lai: From Formulas on a Whiteboard to "The SpaceX of Pharma"

The story behind the investment.

Metis Pharmaceuticals lists today, marking Monolith's first HKEX IPO

The scientist who pitched in a KFC just went public today.

5Y News | Xunming Life Sciences Closes Tens of Millions of Dollars in Series A+ Funding

Accelerating the construction of next-generation Tech-Bio agent infrastructure.

"Boundless Dynamics" Closes New Funding Round, Signs Over 500 Million Global Order with Envision Group | Linear Portfolio

The first nine-figure RMB overseas order for embodied manipulation intelligence.

Pulnovo Medical Completes $100 Million Series D Round Led by Medtronic, with Gaorong Ventures Continuing to Invest

Medtronic and Pulnovo Medical have signed a commercial cooperation agreement.

"Tashi Intelligent Navigation" Raises $455 Million in Pre-A Round, Linear Capital Continues to Back Through Three Consecutive Rounds Since Seed Stage | Linear Portfolio

China's embodied intelligence sector has set two all-time fundraising records simultaneously.

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

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

Vol.005 | A Conversation with Gongyuan: And I Choose to Start a New Table

Yunqi Capital Backs CREAO AI's Pre-A Round with Tens of Millions of Dollars to Rebuild the Work Entry Point with Agent OS | Yunqi Portfolio

Betting on a Better Cycle

A MiniMax Early Employee Built a "Swipe Left/Right" Proactive Agent丨début

A concrete way to realize a Personal Model.

16 Companies Making Agents More Useful Are Raising Funding

Product-Agent Fit

AI Unicorn Factory

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

"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.

Amazon Acquires Swiss Robotics Startup "RIVR," Linear Capital Leads Its First Round | Linear Portfolio

The RIVR team will join Amazon to begin a new chapter.

5Y News｜Aikelian Biotechnology Completes $68.7 Million Funding Round

Aikelian Biotech has successfully completed an oversubscribed $68.7 million funding round.

CODE27 Raises Over $10 Million in Funding; Hongshan and Qiming Bet on New Human-Computer Interaction Direction

A new generation of AI desktop companions.

Xpeng AeroHT Raises Nearly $200 Million, Advances Flying Car Toward Commercial Mass Production

A global leader in low-altitude product innovation.

2026 VC Promotion Roundup

Universal celebration.

Embodied intelligence startup ZhiJian Power closed five funding rounds within six months, raising a total of 2 billion yuan.

Build embodied intelligence products with high user value.

Sp.02 | A Conversation with Master Dong: The Untold Stories Behind 20 Years of Chinese Venture Capital

A Sidebar Conversation with Master Dong on 20 Years of Chinese Venture Capital

Happy New Year!

"Boundless Dynamics" Raises Hundreds of Millions of RMB in Angel+ Round, with Linear Capital, HSG, Hillhouse and Others Continuing to Back | Linear Portfolio

Our first-generation self-developed robotics platform has already been deployed in real-world customer scenarios.

Vol.004 | Conversation with Richard Guo: Staying Out of the Fray, But Keeping on Winning

A Conversation with Sam Guo: Staying Out of the Fray, but Keeping on Winning

Truck drivers, sour kiwis, counterfeit cigarettes and booze — and the legends of investing.

Spring has arrived — can blossoms be far behind? | Linear Quarterly

Rather than waiting for spring, define it.

"Mindverse" Closes Pre-A Series Led by Ant Group, with HSG Among Co-Investors | Linear Portfolio

Using LoRA to crack the "one model, a thousand faces" challenge for large language models.

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

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

OMOWAY Founder He Tao: The Second Half of Life, Riding the Wave of Next-Generation Intelligent Mobility

There's nothing more thrilling than starting a company.

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

Building Foundation Models for the Physical World

The Fundraising Stories of China's "Six Little Tigers": Six Paths, Six Lives

If Kimi ever goes public, will the bell-ringing photo look very different?

Sp.01 | Debriefing China's Primary Market in 2025 (Ft. Crossroads)

How Did Chinese Silicon Valley Entrepreneurs Build the "Tesla of RVs"? | Waves World View

Travel light.

Monolith Portfolio Company MetaX Lists on STAR Market

We have deep conviction in both the explosive growth potential and long-term staying power of China's domestic computing power market.

Valued at $70 Million: ZhenFund and IDG Bet on Another Path for AI Companionship

Not just AI boyfriends.

Exclusive | Airwallex Raises Another $330 Million, Hits $8 Billion Valuation Today

The Saved and the Saved.

Innovation Often Happens Where No One Has Gone Before | 5Y News Monthly

The big news from last month.

The Last Mile Delivery's Ultimate Answer May Be a Pack of Robot Dogs from Switzerland | Linear Voice

A robot needs to deliver added value to the customer.

I think the sun will shine bright tomorrow morning | Opening Remarks

Maybe wrong, always fun.

5Y News｜Hypershell Raises $70 Million in Pre-B and Series B Funding

Leading the Consumer Exoskeleton Into a New Era

Hypershell Raises $70 Million Across Two Funding Rounds

Empower people to act, and expand the horizons of their world.

Hypershell Closes Two Rounds Totaling $70 Million in Funding

Toward a Future Where Everyone Is "Iron Man"?

"Dealism" Closes Angel Round of Over 100 Million Yuan Led by Hillhouse, with HSG and Linear Capital Participating | Linear Portfolio

The world's first Vibe Selling AI Agent company.

Hillhouse Capital and Hongshan Co-Invest in a Sales Agent Startup Going Global

Former Youzan COO Launches New Venture

"Boundless Dynamics" Closes 300 Million Yuan Series A, Co-Led by HSG and Linear Capital | Linear Portfolio

Focus on the R&D and iteration of foundation models driven by high-value scenarios.

Elsewhere News | Neolix, LiblibAI, and others close landmark funding rounds, setting new industry records

"AI is the biggest variable in the future."

LiblibAI Closes $130 Million Series B, Leading the Multimodal Creation Platform in the AI Era

The largest single financing round in China's AI application sector so far in 2025.

Exclusive | LiblibAI Raises $130 Million, Led by Hongshan and CMC

Go big or go home.

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

Can AI connect people with one another?

The SpaceX of Pharma: Caida Lai's Nanorocket

Only those with fire in their eyes can build rockets.

Starbucks China Sale Enters Final Round | Mega M&A

Far from the end.

"Autonomous Variable Robotics" Closes 1 Billion Yuan Series A+ Round, Open-Sources End-to-End Embodied Foundation Model | Yunqi Capital

Models and hardware iterating at breakneck speed

"RIVR Partners with Europe's Largest Food Delivery Platform Just Eat Takeaway to Revolutionize AI-Powered Autonomous Delivery" | Linear Portfolio

Already providing real order delivery services for local restaurants in Switzerland.

MiAO Secures Over 100 Million Yuan Investment from X.D. Network

Core focus: high-DAU evergreen games

Yunqi Capital | "Creao AI" Closes Two Consecutive Rounds of Tens of Millions of Dollars in Funding, with Yunqi Capital as Sole Angel Round Investor

Agentic OS Unlocks a New Paradigm for Agent Collaboration

Concentric Medical Raises Over $100 Million in Strategic Funding to Take China's Full Maglev Artificial Heart Global

Gaorong Ventures co-led the round.

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.

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

Only human nature never changes.

Xi Cao of Monolith Named to Forbes 2025 Midas List

First-time appearance on the list thanks to early-stage investments in Kuaishou and Unitree

Exclusive | Airwallex Raises $300 Million: AI Disrupting Banking

A decade in the life of a global fintech company.

No matter how the world changes, *Dark Tide* turns three.

Before the sun rises, Anyong will keep searching for answers alongside all of you.

Noematrix, an embodied intelligence company, has completed a Pre-A++ funding round of several hundred million RMB, with Yunqi Capital participating | Yunqi Capital

Advancing the Large-Scale Commercial Deployment of Embodied AI

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

Where does the money come from?

Lxson Raises Nearly RMB 200 Million in Angel Round, Co-Invested by Monolith

Embrace the best technology and the best partners

Hongshan Enters the Fray: Is the Global M&A Wave Really Here?

Hongshan, beyond China.

As the year draws to a close, five companies secure new funding to carry momentum into 2025 | FreeS Family Funding News Vol. 21

Looking forward to working alongside more outstanding founders.

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

Meituan and ByteDance invested simultaneously.

Taking Gems From Fire — Linear Capital's 2024 Year in Review

2024 is coming to a close. I'd like to borrow the theme from our annual meeting in October to summarize this year: *Taking Gems From Fire* — a fitting description of Linear Capital's work this past year.

China's USD Funds Won't Disappear

Live long enough to long China.

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.

Pony.ai's Funding Story: Daydreams in a Winter Storm

The final exam is approaching.

Exclusive | The Full Untold Story Beneath the Surface of "Kimi Yang Zhilin Arbitration Case"

Who saw the sixpence, and who saw the moon.

Exclusive | Kimi Founder Yang Zhilin Faces Arbitration Filed by Former Investors

Another scandal at a high-profile AI company.

Exclusive | A Conversation with Dongqiudi's Chen Cong: "I Used to Think Everyone Was a Good Person"

Just want to get this off my chest right now.

10 Facts About 1,000 Chinese Billionaires

The currents of the era, all contained within the sequence.

Who Is Horizon Robotics' Most Important Investor?

Got it?

Hongshan and Li-Ning Go Abroad Together, Sending Two Market Signals

A bellwether for the primary market.

The VC 2.0 generation celebrated its tenth birthday in early autumn.

What about the next decade?

Linear Capital Pre-Seed project Swiss-Mile closed a $22 million seed round, led by Bezos Expeditions and HSG.

Existing investor Linear Capital continued to increase its stake in support.

When I Was One Step Away from the Founder | Z Talk

Ostrich Club Members' Entrepreneurial Stories, Revealed for the First Time Ever.

Exclusive | Actually, DST Bought Xiaohongshu Secondary Shares

Mega funds still making deals.

Exclusive | Kathy Xu says she hasn't exited primary markets, and just invested in an AI company

The facts may not matter; what matters is the signal.

5Y News | 5Y Capital Portfolio Company METiS Pharmaceuticals Closes $100 Million Series C Round

Focused on "AI-powered drug delivery."

Minimax's Yan Junjie in Conversation with Huang Mingming: AGI, There's Only One Path — the Hardest One

A Conversation on Non-Consensus and Long-Term Optimal Solutions

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.

Thirteen Years of a Small Firm: Always Struggling on the Brink

Just try to be an atom.

GYPF分享｜From Postdoc to Entrepreneur Who Closed Two Rounds in One Year: Rewell Vision Founder Yuanbo Deng on Tech Entrepreneurship

At the end of 2023, Linear Capital launched the [GYPF Global Young PhD Fellow](https://mp.weixin.qq.com/s?__biz=MzAwNTAyMDAyNQ==&mid=2652305595&idx=1&sn=09e45be81b9f48e5eb3e34d9b0a2

A New Decade for Venture Capital: Hongshan's First Answer

What's the solution for early-stage investing?

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.

Looking Back at 2023: The World Has Really Changed

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

Investors Trapped in Repurchase Agreements

A dead-end loop.

Two Masterstrokes in NIO's Fundraising History

There is no successful fundraising, only fundraising of the times.

Linear Capital Leads RVision's Angel Round; Company Secures Back-to-Back Investments from HSG and Xiaomi to Build Next-Generation HUD

Secured multiple mass-production designated projects.

The Investor Who Made the Most Money Off Pinduoduo

"Though millions may oppose me, I will go."

DPI > 1 — it's a magic spell.

Before taking responsibility for a new world, GPs must first answer to their LPs.

The Most Controversial Hugo Award Winner: Hai Ya and the Dreams of Ordinary People

He remains a dedicated account manager.

Southeast Asia Investment Finally Has a Success Story

A Resolute Choice

Unicorns, multiple funding rounds, products already deployed across multiple industries... Ten portfolio robotics companies showcase at Linear Capital's general-purpose intelligent robotics event

Professor Jianwei Zhang, academician of the German National Academy of Science and Engineering and the Hamburg Academy of Sciences and Humanities in Germany, was invited to share his insights.

Drip Capital Under Scrutiny: Is This a True-or-False Question, or a Multiple Choice?

A Cure or a Poison for Equity Investment?

GravityXR has completed a Series A financing round of several hundred million RMB, led by Lisi Capital.

A Complete Transformation of Future Human-Computer Interaction

Entrepreneurship is a climb where the journey itself is the reward.

The journey is the reward.

Xi Cao of Lisi Capital and His Eleven Luo Han --- Wait — let me reconsider. "十一罗汉" is almost certainly a reference to *Ocean's Eleven* (the film), used here as a playful nickname for his team. Let me adjust: Xi Cao of Lisi Capital and His Ocean's Eleven

Starting a business is like climbing a mountain — the meaning lies in the climb itself.

Exclusive | Coatue Invested in Ba Wang Cha Ji — Can Dollar Funds Still Go Another 15 Years?

The Current Survival Reality of USD Funds.

MONOLITH砺思资本｜Riding with Great Tech Companies

Think to know, and temper through action.

200 Days of Frenzy: China's LLM Wars Stuck in a Stalemate

Consensus can form quickly — and dissolve just as fast.

In the long winter of consumption, Hongshan wants to snap its fingers and find resonance.

Sparks mark the beginning of the next cycle.

When Professors Leave the Ivory Tower: Gold Mines, Chasms, and the Fame Game

Faced with a chasm, there will always be those who take the leap.

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

Never stop moving forward.

Hongshan Healthcare Investing: 17 Years From the Sidelines to Center Stage

Going earlier and deeper has become a defining feature of Hongshan's healthcare investments.

Backed by HSG and Linear Capital, Former Tencent Executive Builds Virtual Concerts Drawing Nearly Ten Million Views

Steve Jobs once said: "The low-bandwidth era transmits information; the high-bandwidth era may transmit emotion."

JD.com Industrial Completes $300 Million Series B to Drive Intelligent Transformation of Industrial Supply Chain | Yunqi Capital

Using Digital Intelligence to Drive Supply-Side Smart Supply Chain and Manufacturing Upgrades

3D Real-Time Interactive Virtual Event Platform "Bizhen Technology" Raises Tens of Millions in Funding, with Linear Capital Leading Angel Round

36Kr has learned that **BIZEN Technology, a 3D real-time interactive virtual events platform, announced it has completed two consecutive funding rounds — an angel round and an angel+ round — totaling tens of millions of RMB, with Linear Capital, HSG, and Cathay Capital as investors.** The funding will be primarily used for product iteration and market expansion.

Silicon Valley Bank, a fixture in venture capital for four decades, couldn't survive 40 hours of market panic.

China's venture capital world had a night of shock and panic.

"Whatever one man can imagine, other men can make real" | 5Y News Monthly

The major events from last month.

Hongshan Seed Deploys Another $480 Million, Early-Stage Investing Is About to Get Even More Crowded

What Should Seed Investing Look Like in a New Cycle?

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

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

The ChatGPT Tsunami: Mindverse, an AGI Startup Riding the Wave

In the span of roughly a month, AI giants have staged one blockbuster showdown after another, transforming many overnight from "having a vague sense of what AI is" to "harboring vivid imaginings of AGI" (artificial general intelligence). The spectacle traces back to ChatGPT, launched by OpenAI in early December 2022. Even OpenAI, the architect of this explosion, didn't anticipate hitting 100 million monthly active users in 60 days — a milestone that caught CEO Sam A

Exclusive | SHEIN Nears Completion of New Funding Round at Valuation Below $70 Billion

A future showdown between SHEIN and Temu is inevitable.

Monolith Capital, alongside great technology companies

Monolith is an investment management firm co-founded in 2021 by Xi Cao, formerly a partner at Sequoia China, and Tim Wang, formerly a partner in the public markets team at Boyu Capital. Monolith covers both private and public markets, including its current VC fund and a previously high-performing debut hedge fund. **Monolith's assets under management have reached nearly $800 million.**

Conversations with 29 Tech Investors: There Are Treasures, But No Treasure Map

Investing in tech is definitely the right call, but consensus remains scarce.

The Toughest SaaS Market and Its Hottest Winner: How Sensors Data Built a Product with Nearly 100% Renewal Rate at a Billion-Dollar Valuation

](https://mp.weixin.qq.com/mp/appmsgalbum?__biz=MzU5MTY4NDQwNA==&action=getalbum&album_id=2230864849192976388#wechat_redirect)

Three Barometers for the Primary Market, for Your Reference

The bilateral order of the primary market is being restructured on both sides.

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.

We Analyzed 1,000 LP Commitments and Found 30 Hidden Top Family Offices

They are also a microcosm of China's commercial evolution.

That night belonged to Saudi Arabia, not to the Chinese funds raising capital in the Middle East.

For most Chinese funds, the Middle East remains uncharted territory.

Mindverse, a Linear Capital angel-round project, secures nearly 100 million RMB in consecutive funding rounds with Linear Capital doubling down

Released the AI character generation engine MindOS.

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.

From the Big League to the Niche: The Glory Days of a Generation of Chinese VCs

How they will rethink fame, cycles, and investment.

Bishijia Technology Closes Nearly RMB 200 Million Series C Round, Unveils Next-Generation Intelligent Operations Product Suite

Accelerate the deployment of intelligent operations platforms across more industries.

Linear Capital Wins 36Kr's "Most LP-Recognized Early-Stage Investment Firm"

On September 21, 36Kr hosted the 2022 "China Fund Partners Summit" in Hangzhou, where 36Kr Research Institute released its LP-GP survey series — now in its fourth consecutive year, dedicated to identifying noteworthy investment institutions and their backers in the market. **In the "White Horse / Dark Horse" series, Linear Capital was named the 2022 "Most LP-Recognized Early-Stage Investment Firm in China."**

Linear Capital-led angel round project "Zion" closes HSG Pre-A funding, with existing backer Linear Capital doubling down

Third-generation no-code products are transforming industries.

Challenger Ventures invested in Alexander Wang, but says consumer spending could still get colder

"I still prefer historical stories to science fiction."

Robotics, SaaS, and innovative drug sectors close new funding rounds; chips and medical devices unveil major new products | Rongbao · August

Differentiated innovation and global opportunities.

Two Decades of RMB Funds: Between Life and Death

Are USD Funds in Trouble? Is It the RMB Funds' Turn to Make a Move?

Linear News | Linear Capital's Angel Round Lead "Baoxiaohe" Closes Nearly $10 Million Series A, with Existing Investor Linear Capital Continuing to Increase Support

Build an overseas version of a 3D packaging design platform.

Global E-commerce SaaS Platform Dianxiaomi Raises $110 Million in Series D to Accelerate International Expansion

The platform has served more than 1.5 million users worldwide and processes over RMB 350 billion in annual order transaction volume.

Wire News | Targeting Pain Points in New Energy Vehicle Charging, State Grid Shunneng Pioneers the MPS Solution

At the end of July, Gotion Shunneng announced a multimillion-yuan angel round from Linear Capital and HSG, aiming to apply new-energy vehicle technology to build safe, efficient MPS (Mobile Power Supply) products. The following interview with the company offers a detailed breakdown of what MPS is, its advantages and prospects, and Gotion Shunneng's roadmap — recommended reading.

Taking the Next Step This Summer: 7 Companies Announce Funding | FreeS Family Funding News · Vol 11

Walk alongside more outstanding founders.

On the first day of August, we spoke with 23 investors about "confidence."

And, what are the things that are hard but right, and what are the things that are hard but wrong.

"Guoguang Shunneng" Raises Eight-Figure Angel Round from Linear Capital and HSG to Build Safe, Efficient Mobile Power Station Products Using New Energy Vehicle Technology

Dedicated to providing users with seamless, "unfelt" wireless charging services.

Linear News | SynBio Startup "Biosys" Secures Two Funding Rounds in Six Months, Linear Capital Leads Angel Round

"Besheng Bio's" long-term goal is to build a complete biotech ecosystem based on the ArchiCel architecture — in essence, to create the Windows + x86 equivalent for the biotechnology industry.

A Conversation with Moody Ciran: Turning Some People's Obsession Into More People's Affection

The Contemporary Entrepreneur in the Cracks.

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.

ProfoundBio Closes $70 Million Series A+ Round to Advance Novel Antibody-Drug Conjugate Clinical Development

Accelerate preclinical development across multiple pipelines while further deepening and expanding the ADC innovative technology platform.

Chips, Energy Storage, and LiDAR Accelerate Commercialization; Robotics and SaaS Expand Globally | Rongbao · May

Sailing through the waves, striving upstream.

June, Vitality | 5Y News Monthly

The big news from last month.

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.

Spring Comes Quietly to Guomao

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

Quantum Computing, 3D Sensor Chip Companies Secure New Funding; New Brands, Robotics, and Healthcare Firms Advance Globally | Rongbao · April

Summer begins, and all things grow.

5Y News | Sensors Data Closes $200 Million Series D Round

Boost efficiency through scientific methods.

Investors in the Wheat Field

A Nerve-Ending-Style Descent into the Investment World: Into the Fields and Countryside.

Huayi Quantum Raises Over 100 Million Yuan in Angel Round, Focused on Ion-Trap Quantum Computing

Gaorong Ventures led the round.

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

SheIn responds exclusively to *Dark Tides Waves*.

5Y News | METiS Pharmaceuticals Closes Two Consecutive Rounds Raising $150 Million Total

Become an industry innovation leader.

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

Achieving scale, interactivity, and intelligence in metaverse content.

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.

April: Imagination Is the Courage with Which We Face the World | 5Y News Monthly

The big news from last month.

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.

A grain of sand for the era, a mountain for USD funds

To survive in an era of sweeping change, keeping your eyes on the ground is never enough — you have to look up at the sky too.

5Y News | XVERSE Completes $120 Million Funding Round

Define your world.

XVERSE Raises $120 Million to Build Next-Generation One-Stop Platform for 3D Content Production and Consumption

Everyone is free to "define your world."

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

The vitality of spring.

4 Companies Raise Nearly 2 Billion RMB in Total | FreeS Family Funding News · Vol 8

Walk alongside more outstanding founders.

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

The big news from last month.

Li Xiang, Founder of Shize Biotech: The Latest Intersection in Biotechnology — The Spring of Stem Cell Therapy | 2021 FreeS Fund Annual Investor Summit

How much longer until stem cell therapy brings hope to patients with serious diseases?

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.

2022, the Door Opens to the Future | 5Y News Monthly

The big news from last month.

5Y News | Hyperparameter Tech Closes $100 Million Series B to Build "Living AI"

Redefining the relationship between AI and humans.

Hyperparameter Raises $100 Million in Series B Funding to Build Living AI

Dedicated to building out the full "gaming + tech + social" pipeline.

5Y News | No-Code Collaboration Platform "Treelab" Closes Tens of Millions of Dollars in Series A Funding

Empowering enterprises' digital transformation.

5Y News | Huoban Cloud Completes $40 Million Series B+ Round

Empower more small and medium-sized enterprises to achieve deep digital transformation.

5Y News | Moore Threads Completes Series A Funding, First Domestic Full-Function GPU Successfully Developed

The Infrastructure of the AI Era

Gaorong Monthly · October | Gaorong Ventures Named Among Zero2IPO's Top 10 VC Firms of the Year; Nuro Closes Major Series D Round

Autonomous driving, healthcare, and chip sectors see new funding rounds; Genki Forest unveils "Triple Zero Factory" strategy; Dingdong Maicai stabilizes prices and ensures supply.

November: Foresight and Boundless Imagination | 5Y News Monthly

The big news from last month.

Xingji Announces Completion of Hundreds of Millions of RMB in Series A Funding, Focused on Innovation in Digital Implementation EDA Products

Dramatically improves chip design efficiency and helps enable first-time-right, rapid volume production.

5Y News | Xpeng Motors announces completion of over $500 million Series A funding round

This marks the largest single funding round to date in Asia's low-altitude manned aircraft sector.

7 Companies Raised Nearly 1.5 Billion Yuan, 4 Valued Above 1 Billion Yuan | FreeS Family Funding News · September

Every step of growth for an innovative company: from 0 to 1, from 1 to 10, and from 10 to 100

5Y News | ClickPaaS Announces Completion of Tens of Millions of Dollars in B+ Round Funding, Doubling Down on Low-Code Ecosystem Development

Accelerate enterprises' digital transformation.

October is full of hope and fervor | 5Y News Monthly

The major events from last month.

5Y News | Hai Robotics Announces Two Rounds of Funding Exceeding $200 Million, Bringing Logistics Robots to Every Factory and Warehouse

A global leader in carton-based autonomous mobile robot (AMR) systems for warehouse automation.

Biotech Firms Raise Nearly 4 Billion Yuan, Consumer Companies Land Over 1.4 Billion | FreeS Family Funding Roundup · August

We've also released three short videos this week — follow us to check them out.

September, When Hope Will Break Through Like the Sun | 5Y News Monthly

The big news from last month.

5Y Capital Portfolio Company Shukun Technology Announces New 700 Million Yuan Funding Round | 5Y News

Digital human platforms are penetrating deep into healthcare scenarios.

As Fierce as August | 5Y News Monthly

The big news from last month.

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.

FreeS Family Funding News · June | Saturnbird, Shize Biotech, and Light Travel Secure Funding

We also released two short videos this week — follow us to check them out.

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.

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.

EDA digital implementation solutions provider Xingji announced the completion of a Pre-A funding round worth several hundred million yuan.

Where the chip leads, there we go — together, forging a new era of digital intelligence.

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?

Rongbao · May | Pinduoduo Enters the Era of 800 Million Users, Waterdrop Inc. Debuts on the NYSE

Meeting the needs of China's vast user base for a better life.

Censoft Technology Completes A+ Round to Accelerate Hospital Smart Management Business

Focused on hospital economic operations management.

XinYaohui, a leading chip IP company, has raised over 500 million yuan in its Series A round, led by Gaorong Ventures.

Empowering China's integrated circuit industry upgrade through innovative IP technologies.

Rongbao · April | Solid-state LiDAR leader Innoviz goes public; Genki Forest and Dingdong Maicai close new funding rounds

Major Events in April

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.

Genki Forest Completes New Strategic Funding Round, Charts Four Paths to Build "Genki Forest of the World"

Build out the full value chain to integrate R&D, manufacturing, and sales, and capture the opportunities created by the rise of China's new generation of young consumers.

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.

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.

5Y News｜Neox Biotech Completes $30 Million Series A Round, 5Y Capital Continues Support

Exploring the most cutting-edge drug modalities.

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

FreeS Fund Wins Multiple Awards from 36Kr, Jiemian, Sansheng, and Lieyunwang | Frees Fund Vol.5

Do what is right, not what is easy.

Bishijia Technology Completes Series B Funding to Upgrade Next-Generation AIOps Products

Leveraging artificial intelligence to transform IT operations, building world-leading intelligent operations (AIOps) products.

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.

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.

African Mobile Payments and Mobility Service Provider OPay Closes $120 Million Series B Round | Gaorong Ventures News

OPay is one of Africa's fastest-scaling companies, having grown into Nigeria's leading mobile payments and ride-hailing service provider.

The "Brain" Behind Starbucks' Rapid Delivery Launch | A Gaorong Ventures Enterprise Services Case Study

The "Mastermind" Behind Starbucks' "Lightning Speed" Online Business

The Gaorong Ventures Way: Know What to Do, Know What Not to Do

A matter of resolve.

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.

XtalPi Closes $46 Million Series B+ Round | FreeS Fund Deal Brief

Empowering drug R&D organizations worldwide.

Fundraising, Licensing, New Launches, Team Building, Awards… 15 Notable Events from an April to Remember | FreeS Fund Blackboard · April

Look ahead, keep doing.

2 Gatherings, 10 Pieces of Good News: The FreeS Fund Family in 2018 — "Look Forward, Keep At It" | FreeS Fund Chalkboard · January

FreeS Fund continues to double down on deep tech and consumption upgrades.