Pinduoduo

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

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

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.

Another VC Rebrands with a New Name

The twentieth year of local iteration.

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?

Cathay Capital Closes Third Innovation Fund at $1 Billion, All In on AI Applications

"Global LPs' Areas of Focus"

Consumer investor Yu He waited for two big fish like he was waiting for Godot.

I've stumbled through pitfalls and detours, celebrated victories, and felt the sting of regret.

Will Chinese Concept Stocks Disappear?

Let's hope it doesn't happen.

ZhenFund's Yusen Dai: A Guide to Entrepreneurship, Investing, and AI for Young People

Abundant energy, an intense desire for success, and a fearless spirit of innovation.

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

The final exam is approaching.

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

The 21 Months That Shattered a Star Founder | WAVES

Good Game.

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

Great investors recognize patterns; great founders break them.

Becoming China's Most Daily-Interaction Heavy AI Company: 15 Things MiniMax Got Right

There are two optimistic signals regarding large language models.

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

Investing overseas, but not talking about the destination.

A Globalization Guide for Chinese Founders: Slicing the World Horizontally

The word "globalization" — so brief, yet it encompasses so many narratives.

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.

The Investor Who Made the Most Money Off Pinduoduo

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

It’s not just Taihe Capital that needs a "second founding."

Start over from scratch.

Li Guofei's 10,000-Word Interview: Seeking Wisdom Is About Constantly Breaking the Prison of the Mind

Two worlds that seem to have nothing to do with each other may, at their foundations, arrive at the same destination by different paths.

Medical Device/Chip Companies Close New Funding Rounds, Driving High-Quality Growth Through R&D, Commercialization, and Supply Chain | Rong Report · February

Infinite possibilities for creating a better life.

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

A future showdown between SHEIN and Temu is inevitable.

Consumer/Medical Companies Launch New Products, Advanced Tech Market Share and Capacity Advance Further | Rongbao · November

Explore industry demand, and build solid R&D capabilities.

"First Collagen Stock" Goes Public, Zero-Carbon Factories and Energy Storage Stars Accelerate Carbon Neutrality Push | Rongbao · October

Major Events of October.

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.

Linear Capital Perspectives | AI Enters Industry: Is the Current Moment a Window of Opportunity or a Bubble, and Which Investment Areas Does Linear Capital Favor?

In late June, Harry Wang, founder and CEO of Linear Capital, was invited to speak at the Amazon Web Services (AWS) Innovation Conference, where he joined Dr. Zhang Xia, chief enterprise strategy advisor at AWS, for a conversation on recent AI investment insights. Wang shared Linear Capital's analysis of AI's integration into industries, the firm's investment focus areas, the technical bottlenecks that need to be overcome in the next phase, and related recommendations. Below is a summary of the conversation, with both video and transcript.

3 Billion New Fund First Close: Arthur Yeung on Kairous Capital's Two Major Organizational Restructurings

A New Solution to the Organizational Challenge of Funds.

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.

Rongbao · August | Medical Firms Accelerate Clinical Trials; New Funding for Chip, Consumer, and Overseas Expansion Companies

Make innovative technology accessible to more people.

Rongbao · July | Multiple Companies Close New Funding Rounds, Take the Lead in Their Sectors; Pinduoduo's Olympic Season Boosts Sports Consumption for All

Continue to invest in innovative companies in new consumer brands, new technologies, healthcare, and other sectors.

How to Understand the Divergence Between Chinese and American Development Models, and Find China-Based Startup Opportunities? | Li Feng Column

Why "Spring" Remains Elusive for SaaS, and the Root of US-China Startup Differences

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.

Rongbao · February | Pinduoduo Awarded "National Advanced Collective in Poverty Alleviation," Chip and Medical Companies Complete New Funding Rounds

Pinduoduo contributes to poverty alleviation; XinYaohui, Fubei Biotech, and Westlake Omics close new funding rounds.

Rongbao · January | E-commerce and Retail Players Build Out Origin-Region Supply Chains; Multiple Chip, AI, and Enterprise Service Firms Close New Funding Rounds

Discover and accompany creators of a beautiful life.

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?

Rongbao · November | Yatsen Holding and Ucommune successfully list on US equities, Nuro closes Series C funding

Working together to create a better life.

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

Warm congratulations to Yatsen Holding, parent company of Perfect Diary, on its successful NYSE listing | Gaorong Ventures News

It became the first U.S.-listed Chinese beauty stock, with Gaorong Ventures leading its early round and standing by it ever since.

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.

Gaorong Bulletin · October | Gaorong Ventures Closes Fundraising of Over 10 Billion RMB

Pinduoduo received the National Poverty Alleviation Award, Nuro's driverless vehicles tested fully autonomous driving on city streets...

Gaorong Ventures Completes Fundraise Exceeding 10 Billion RMB, Partnering with Founders to Create Long-Term Value

Continue to focus on investments in new consumer, new technology, enterprise services, healthcare technology, and other sectors.

Rongbao · September | Groundbreaking New Product Launches in Large-Memory Software, Robotics, Nanopore Gene Sequencing, and More

Technology and innovation will help build a better future.

Rui Han of Gaorong Ventures Decodes the Battleground for Future Consumer Giants: Transferable Trust Is What Makes a Brand

Above category, the first way to classify tomorrow's consumer giants is by "scenario and function."

Gaorong Report · July | Gaorong Ventures Ranked Top 5 VC Funds by Returns at 2020 China Fund of Funds Summit, Decoding Consumer Investment Logic Under the "Dual Circulation" Development Paradigm

Investment in consumer, technology and innovation, and healthcare sectors continues to gain recognition.

Rongbao · May | Large-Memory Computing, Autonomous Driving and Other New Technologies Accelerate Adoption; Integration of Goods and Services Emerges as New Consumption Trend

Underlying technological innovation and new demographics are driving infinite possibilities.

Gaorong Bulletin · April | Gaorong Ventures Actively Responds to "Zhongguancun Venture Capital Anti-Epidemic Investment Initiative," Joins First Batch of China Equity Investment Fund Managers' Creditworthy Red List

"We are firmly bullish on China, and we believe that steadfastly investing in technology and innovation-driven industries represents the greatest opportunity looking ahead."

Where Does Live E-Commerce End? | Frees Fund

Live commerce is the outcome, not the goal.

From Wind Rising to Wind Calming: Is Live E-Commerce a Feature or a Business Model? (Part 1) | Frees Fund

The Evolution of Livestreaming: From Esports and Showrooms to Juhuasuan

Rongbao · March | Pinduoduo GMV Reaches New "Trillion" Milestone, YITU Sets New World Record in Person Re-identification Algorithm

New consumption and new technology companies are innovating supply models and strengthening technological support to contribute to the country's new infrastructure development.

Beijing News Interview with Chang Chen: Bullish on China's Consumer Market, Demand Recovery Will Drive Supply-Side Evolution

Long-term bullish on the massive investment opportunities in China's new consumer market.

Battle Against the Epidemic: Gaorong Ventures Portfolio Companies Continue Their Efforts to Support COVID-19 Response | Rongbao · January

What matters most is action.

Liu Xinhua: How to Crack the Growth Code for Products in the Second Half of the Internet Era | Gaorong Ventures Share

A 10,000-word transcript systematically breaking down the four modules of the growth model — clarifying principles, seizing momentum, refining tactics, and reading people.

Li Feng Column 15 | How Long Can Live E-Commerce Stay Hot?

How do you judge the real value of a buzzword?

Rui Han of Gaorong Ventures Named to "36 Under 36" Outstanding Investors List: You Have to See It, and You Have to Dare to Believe It

"VC is Vision plus Conviction."

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.

Rongbao · June | Gaotu Techedu successfully lists on the NYSE, Nuro partners with Domino's on autonomous pizza delivery...

Monthly curation of 10 news items that matter for innovation.

Li Xiang × Li Feng: 200 Million New Urban Residents' Consumer Awakening — Who Will "Reap" the Rewards?

Taobao, JD.com, VIP.com, Pinduoduo, and China's Real Estate Sector

Gaorong Ventures received honors including 36Kr's "Top 10 Most LP-Friendly VC Firms in China" and ChinaVenture's "Top 10 Best VC Firms in China 2018."

Thank you to all parties across the industry for your continued trust and support.

Yiu-Cheung Chan: The Future of Retail

Do traditional retailers need digital transformation? How are technology drivers reshaping the retail industry? And how can companies win in the fiercely competitive fresh grocery and online fresh produce markets?

Gaorong Ventures' Xiang Gao: Finding Irreversible Trends to Withstand Market Volatility

The Logic Behind the "Irreversible" Trend

Gaorong Ventures' Chang Chen: Consumer Markets in Third-, Fourth-, and Fifth-Tier Cities Are Full of Opportunity

Third- and fourth-tier cities account for over 63% of total social retail consumption, far surpassing the combined share of first- and second-tier cities.

A Conversation with the "Three Musketeers" of Gaorong Ventures: Embracing Technology to Create a Better Life

From 0 to 1, and on to 1 to 10

Strategic Alliance! YY Completes Acquisition of Bigo | Gaorong Ventures News

Building a world-leading video-based social media platform company

A Visual Breakdown of Gaorong Ventures' Retail Investment Model: Why It Keeps Doubling Down on the Fresh Grocery Sector

What kind of business model can better carry consumers' channel trust? And push closer to the endgame of retail?

Gaorong Ventures 2018: New Consumer and New Tech for Long-Term Value

Building shared, long-term value.

How Can AI Empower Healthcare? "Smart Healthcare Symposium" Hosted by Tsinghua University's Department of Electronic Engineering, Co-organized by Gaorong Ventures, Explores the Question in Depth

Give the product a clinician's diagnostic mindset.

Yue Bin, founding partner of Gaorong Ventures, won the "Top 10 Most Influential VC Investors of 2018" award.

Gaorong Ventures was named to the "2018 Top 10 Most Influential VC Firms." At the same time, Rui Han, Aisi Zuo, and Wang Xin, vice presidents at Gaorong Ventures, were jointly selected as "Most Popular Elite Investors of the Year."

Nuro Partners with Kroger to Launch World's First Driverless Delivery Service for the General Public | Gaorong Ventures News

After extensive testing, Nuro's autonomous delivery vehicles will begin serving residents in Scottsdale, Arizona.

Gaorong Ventures was named to Forbes China's "2018 Best Venture Capital Firms TOP 10."

Chang Chen, Gao Xiang, and Yue Bin were named to Forbes China's "2018 Best Venture Capitalists" list.

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.

Gaorong Ventures was named among the top three best venture capital funds at the 2018 Golden Bridge Awards and ranked in the top ten Chinese VC firms in Zero2IPO's 2018 rankings.

Create long-term value for society

Congratulations to MOGU on its successful NYSE listing.

Make fashion within reach.

Gaorong Ventures Closes $500 Million New Fund, Positioning Itself as a Long-Term Partner in Building Startup Value

Institutional LPs provide the capital foundation; entrepreneur LPs drive ecosystem value-add.

Chang Chen of Gaorong Ventures Honored as "Cyzone 2018 China Investor of the Year"

Be a value co-builder for startups.

Gaorong Ventures was named among the "Top 10 VC Firms of 2018 (Growth Stage)" by the China Venture Capital and Private Equity Association, among other honors.

Measuring the Value of Watchfulness by the Yardstick of Time

Gaorong Ventures' Xiang Gao in Conversation with HUYA Inc.'s Rongjie Dong: Live Streaming Still Has Plenty of Room to Grow

A Candid Conversation on Darkest Hours, IPO Traps, and the Future of Livestreaming

Testin Cloud Testing: A Typical Industrial Internet Startup Case Study | Gaorong Ventures Sharing

Make Apps More Valuable

New Retail Entrepreneurship: Move Fast, Fight Hard, and Cultivate with Care | FreeS Talk

Fresh observations on office unmanned shelves, home furnishings, matcha, and personal care.