XtalPi
晶泰科技
XtalPi (晶泰科技) is an AI drug discovery company backed by SoftBank and 5Y Capital . In October 2018 it announced a $46 million (≈RMB 320 million) Series B+ round, earmarked for expanding its intelligent drug R&D platform into more therapeutic areas; that brought its cumulative funding past $66 million, making it one of the most heavily financed companies globally in AI-driven drug research at the time, per a FreeS Fund report — FreeS having led its Series A . Related coverage: a FreeS Fund deal brief from the same month also covered the B+ close . Note the bundle's direct material on XtalPi dates to 2018, so this profile reflects its position as of then.
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Coverage
Rhinovate Raises Pre-A Funding to Accelerate High-Performance Materials R&D With Self-Evolving Physical AI | Unity Ventures Portfolio
Building Reusable AI Infrastructure for Materials R&D
AI for Pharmaceutical Chemical Synthesis: Can Today's AI Match a Chemist with 10 Years of Experience?
AI for Science is becoming one of the hottest directions in the primary market.
Wanwu Capital | Z News
We invite you to revisit the July "highlight reel."
Has the Inflection Point for AI for Science Arrived?
Where will the next Nobel Prize emerge?
Has the Inflection Point for AI for Science Arrived?
Where will the next Nobel Prize emerge?
Summer Glimpses | Z News
Let's take a look back at the highlights from May, and invite you to witness the growth of our portfolio companies and what's new at ZhenFund.
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.
Congratulations to METiS Pharmaceuticals on its Hong Kong Stock Exchange IPO — FreeS Fund invested in four consecutive early rounds.
From Whiteboard Equations to the "SpaceX" of Pharma
Metis Pharmaceuticals lists today, marking Monolith's first HKEX IPO
The scientist who pitched in a KFC just went public today.
Congratulations to FengRui's early-stage portfolio company Lightelligence on its successful IPO: From a Boston Dining Table to Photonic Infrastructure for the AI Era
The World's First Publicly Traded AI Silicon Photonics Chip Company
"Deep Principle" Closes Series A2 Round, Joins OpenAI and Others in *Science* to Discuss AI4S Exploration | Linear Portfolio
AI4S shouldn't stop at the "selling shovels" stage.
New Forces Keep Coming｜5Y News Monthly
The big news from last month.
A New Beginning | Z News
We’re looking back on the highlights from the past month of January, and we invite you to join us in witnessing the growth of our portfolio companies and what’s new at ZhenFund.
In Sync with OpenAI, "Deep Principle" Leads 24 Top Global Institutions in Releasing LLMs for Science Benchmark | Linear Portfolio
Can high scores on test banks actually power scientific discovery?
AI for Science Investment and Entrepreneurship: Where Are the Opportunities in the Next Decade?
"That failed data is valuable."
January, Emergence, and Prologue | 5Y News Monthly
The big news from last month.
Five Sources Capital Promotes Its First Post-90s Partner
How Do VCs Grow New Capabilities?
The Stars Are Still Young | Z News
ZhenFund wishes you a Happy New Year.
Innovation Often Happens Where No One Has Gone Before | 5Y News Monthly
The big news from last month.
"Deep Principle" Closes Over 100 Million RMB Series A to Power Global Materials Science with AI | Linear Portfolio
We've made substantive commercial progress with leading industry clients.
Changing Every Today for Tomorrow | 5Y News Monthly
The big news from last month.
The SpaceX of Pharma: Caida Lai's Nanorocket
Only those with fire in their eyes can build rockets.
Compile Uncertainty into Answers | 5Y News Monthly
The big news from last month.
The Future Unfolds in Every Generation | 5Y News Monthly
The big news from last month.
Trailblazers Carry Their Own Wind | 5Y News Monthly
The big news from last month.
The Only AI4S Company Invited Worldwide, "Deep Principle" Attends Davos Summer Forum Panel Discussion | Linear Portfolio
and was selected as a Technology Pioneer by the World Economic Forum at Davos in 2025.
The Answer Isn't on the Old Map | 5Y News Monthly
The big news from last month.
Greener Pastures, First Flickers of Ambition | Z News
The light and shadow grow richer; a story is brewing.
The World Is Bigger Than the Logic Right in Front of You | 5Y News Monthly
The big news from last month.
April: Curiosity and New Paths | 5Y News Monthly
The big news from last month.
Wanwu Capital Looks Ahead, Keeps Moving | Z News
Spring brings new beginnings; the future holds infinite promise.
Linear Capital's seed-round lead portfolio company Deep Principle has closed a nine-figure RMB Pre-A strategic financing round, with existing investor Linear Capital increasing its stake.
Leading the AI4S Track, Igniting an Intelligent Revolution in the Microscopic World
March, Into the Realm of Hope | 5Y News Monthly
The big news from last month.
A New Year Begins, All Things Renew | Z News
A new year brings new beginnings, and Wanwu Capital is full of fresh energy.
Miracles Come from Perseverance | 5Y News Monthly
The big news from last month.
FreeS Fund's 2024 Year in Review: Going Further Together, Doing What's Right Rather Than What's Easy
Thank you to every friend who has journeyed alongside FreeS Fund.
2025: Three Directions Where AI Is Reshaping Drug Discovery
How Can AI Help Drug Development Cross the "Valley of Death"?
January: Arriving at the Realm of Infinity | 5Y News Monthly
The big news from last month.
The year draws to a close; a new chapter begins | Z News
A warm winter for good things.
Seeking Entrepreneurs for the Era of Tech Innovation 2.0 | 2024 5Y Capital USD Fund Partner Meeting Recap
They don't just have cross-disciplinary technical integration capabilities — they also bring a global perspective.
December: No End to Progress | 5Y News Monthly
The big news from last month.
First Snow, Clear Skies After Frost — Good News as Autumn Departs | Z News
The early winter breeze is crisp and clear.
AI for Science: Standing at the Turning Point of a Research Paradigm | FreeS Fund Report
What is AI for Science, and why now?
November, a World of Infinite Possibilities | 5Y News Monthly
The big news from last month.
Golden Skies, Orange Leaves, Good News with Autumn | Z News
The autumn air is crisp and clear.
Linear Capital seed-stage portfolio company Deep Principle, an AI-driven chemistry and materials science enterprise, has completed a seed+ round with an exclusive investment from Hillhouse.
AI Reshapes the R&D Process for Novel Chemical Materials
September: Stay Deliberately Curious | 5Y News Monthly
The big news from last month.
Why Is Going Global Still a Must, Even as Globalization Slows? | Li Feng Column
The Rise, Fall, and Future of Globalization
Midjourney Enters Hardware | Google Launches First AI Game Engine GameNGen
Flip through the evening digest before bed, stay on top of all the AI news.
ZhenFund Angel Project "Hyde Hydrogen Energy" Announces Completion of New Funding Round | Z News
China's most innovative green hydrogen technology company.
Nine years in, stronger than ever. Welcome to FreeS Fund — let's go further together.
Looking forward to having you on board.
A Conversation with Xiang Li of Shize Biotech: The Past, Present, and Future of Stem Cells
ALS in Middle Age, Parkinson's in Old Age, and 17 Years of Regenerative Medicine
Decoding Aging, Combating Aging | FreeS Fund Report
The Secret of "Aging Without Decline"
ZhenFund-Backed LuminWave Raises Tens of Millions of Yuan in C2 Round | Z News
The proceeds from this round will go toward rapid R&D iteration and mass production of high-end 3D camera chips.
If wisdom lacks the courage of execution, it is all in vain | 5Y News Monthly
The big news from last month.
Summer rains bring gentle relief, good things flourish like green grass | Z News
Long, languid July.
ZhenFund Early-Stage Project "NIP Group" Officially Lists on Nasdaq: China's First Esports Stock Is Born | Z News
Warm congratulations to NIP Group, the "first esports stock of China"!
5Y News | 5Y Capital Portfolio Company ReviR Therapeutics Raises $30 Million in Series A Funding
Continuing to advance "oral gene therapy" through AI+RNA.
A Conversation with Liu Yang of Jiuzhou Yunjian: SpaceX, the US-Soviet Space Race, and China's Commercial Space Catch-Up
Reusable Rocket Technology, Chang'e-6, and Space Travel
New Listings and New Funding: 10 Developments in the Height of Summer | FreeS Family Funding News Vol.19
Looking forward to working alongside more outstanding founders.
Confidence Is Tomorrow's Trailblazer | 5Y News Monthly
The major events that happened last month.
Li Feng in Conversation with Ji Yu: Understanding NVIDIA, Deconstructing NVIDIA, Challenging NVIDIA
"Monopolize or Die" — Will NVIDIA's Dominance Be Eroded?
The Era of Private Cloud: How AI NAS Is Reshaping Your Digital Life | FreeS Research Institute
Beyond Traditional Storage: Build Your Personal Cloud
5Y News | 5Y Capital Portfolio Company "Laimang Biotech" Raises 50 Million Yuan in New Funding
Accelerating the clinical translation of ultra-low-dose CAR-T.
Congratulations to XtalPi on its successful listing on the Hong Kong Stock Exchange! | 5Y News
"AI + Robotics" builds the first 18C-listed stock, constructing new R&D infrastructure for future industries.
Congratulations to XtalPi on its Successful IPO: How FreeS Fund's Research-Driven Approach Learns from Investing
AI + Robotics Creates First 18C Listing — Congratulations to XtalPi
Transforming the Industrial Landscape of Chemical Materials with AI | Linear Capital Portfolio Interview Series: "Deep Principle Technology"
Today, Deep Principle, a company focused on AI-driven scientific research in chemistry, announced the completion of a nearly $10 million seed funding round. Linear Capital led the round, with Zhenzhi Ventures and Taihill Venture participating as co-investors. XtalPi and DP Technology also joined as strategic industry investors. Founded in 2024, Deep Principle's founding members are all graduates of MIT. The company's vision is to integrate artificial intelligence, quantum...
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.
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.
Action Is the Simplest Method | 5Y News Monthly
The big news from last month.
Spend a Summer on a VC Journey of "Seeking Truth" and "Taking Things Seriously" | FreeS Fund's 2024 Internship Program Is Now Open
Welcome aboard — a great workplace is one with a bunch of amazing colleagues.
The beginning of a miracle often lies within the thing itself | 5Y News Monthly
The big news from last month.
January, a Fresh Start | 5Y News Monthly
The big news from last month.
December, the Road Keeps Extending | 5Y News Monthly
The big news from last month.
November: Stay Curious and Imaginative | 5Y News Monthly
The big news from last month.
$1 Billion! BioMap and Sanofi Partner to Develop AI Drug Discovery Models Based on Large Foundation Models | BlueRun Ventures Headlines
The First Commercial Partnership Based on Large Language Models in the Life Sciences Sector
Greatness Is Built One Moment at a Time | 5Y News Monthly
The big news from last month.
September, Sprinting on the Cloud | 5Y News Monthly
The big news from last month.
August: Keep Pushing Forward | 5Y News Monthly
The big news from last month.
Oasis Capital was invited to participate in Yicai's "AI Night Talk"
Counselor Vitality
June, the World's Childhood | 5Y News Monthly
The big news from last month.
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?
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.
May, Where Hope Springs Eternal | 5Y News Monthly
The big news from last month.
The 6 Questions Young People Care About Most: We Asked 17 Founders | FreeS Fund Youth Festival & Graduation Season Special
Passion and conviction are what carry you through the darkness.
Pressing Onward, Into the Unknown | 5Y News Monthly
The big news from last month.
How to Invest in Biotech in 2023? | FreeS Research
Data-driven, cross-disciplinary, bearing fruit — the most certain direction amid uncertainty
The Dawning New Cycle | 5Y Annual Share
Where our confidence lies.
January: Toward Broader Horizons | 5Y News Monthly
The big news from last month.
Time forever forks, leading toward innumerable futures | 5Y News Monthly
The big news from last month.
Capital O Closes First Fund, Post-90s GP Enters the Stage
Technological breakthroughs deserve more attention than market turbulence.
5Y News | 5Y Capital Portfolio Company "Zhongke Guosheng" Closes Nearly RMB 100 Million Pre-A Round
Accelerate the development of China's bio-based materials industry.
The Past and Future of ESG: From Dividing the Pie to Growing It | FreeS Research
A Complete Guide to ESG ESG — Environmental, Social, and Governance — has evolved from a niche investment framework into a mainstream lens for evaluating companies. Yet for many in China's tech and investment circles, it remains more buzzword than business practice. Here's what actually matters. **The Three Pillars** *Environmental* covers a company's carbon footprint, resource use, waste management, and broader ecological impact. For Chinese manufacturers, this increasingly means compliance with the EU's Carbon Border Adjustment Mechanism (CBAM) and domestic dual-carbon targets — not just greenwashing. *Social* encompasses labor practices, supply chain ethics, data privacy, and community relations. In China's context, this gets complicated fast: tech platforms face scrutiny over algorithmic labor management (think Meituan's delivery riders), while consumer brands navigate Xinjiang cotton controversies that can tank overseas sales overnight. *Governance* examines board structure, executive compensation, shareholder rights, and anti-corruption measures. For Chinese companies listing in the U.S. or Hong Kong, this includes VIE structure transparency
Beyond What Meets the Eye | 5Y News Monthly
The big news from last month.
No Fear of a Long and Difficult Road | 5Y News Monthly
The big news from last month.
FreeS Fund's Seventh Anniversary: Working Together to Go Further
Welcome to the team.
[Live Tomorrow] In Conversation with Bluepha | Synthetic Biology: From Groping in the Dark to Riding the Wave
Going live tomorrow at 10 a.m. sharp.
MaHui Entrepreneurs | AI4S Industrialization Roundtable: With So Many Application Scenarios, "AI Tools" Will Deliver Greater Value
What Are the Opportunities for Biotech Over the Next Decade? | A FreeS Fund Conversation
Breaking Through the "Great Stagnation" in Technology: Biotechnology Is a Critical Breakthrough
August: Reasons to Stay Confident | 5Y News Monthly
The big news from last month.
July: Seeking Vast Possibilities | 5Y News Monthly
The big news from last month.
What Happens When the Hottest Tech Sectors Collide? | FreeS Fund Chip Series
How do cross-disciplinary ventures that push the boundaries of imagination achieve steady, grounded commercialization?
From Tech to Business: New Possibilities Brought by ITBT | 5Y Talk
We spoke with five entrepreneurs about their progress and breakthroughs.
Day 1 at 5Y Capital's Shenzhen office — we're waiting for you!
Discover, support, and stand by more Chinese entrepreneurs.
Interdisciplinary Frontier Entrepreneurship: How Chips Are Reshaping Every Industry | May 15 Livestream Registration
See you on May 15!
Code Engraved | METiS Pharmaceuticals Announces Two Consecutive Rounds totaling $150 Million
The most advanced pipeline programs are expected to begin pivotal clinical trials in 2023.
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.
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 | Limmuno Biotech Closes Nearly RMB 100 Million Angel Round
Immunometabolic Reprogramming + AI-Powered Computation for Innovative Cancer Immunotherapy
FreeS Fund Earns Ten Honors from Zero2IPO, PEDaily, ChinaVenture & GEW, CVCRI, ChinaRong360, Wanbang RB, and Lancha Consumer | FreeS Matters
Continuously hiring investors
New Opportunities Amid the Great Transformation in Drug R&D | FreeS Fund Dialogue Session 2 Now Open for Registration
Breakthroughs and Acceleration in New Drug R&D
November: Foresight and Boundless Imagination | 5Y News Monthly
The big news from last month.
5Y News | Signet Therapeutics Raises Nearly $10 Million to Power AI-Enabled Innovative Targeted Drug Development Through Disease Modeling Platform
Advancing pharmaceutical innovation in China.
FreeS Fund Wins 12 Awards, Thanks to Recognition from 36Kr, ChinaVenture, FOFWEEKLY, Cyzone, and 21st Century Business Herald | FreeS Fund
Continuously Hiring Investors
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.
Celebrating Six Years, Looking Forward to More Upward-Minded Partners Joining Us | FreeS Fund
Do what's right, not what's easy.
5Y Talk | How Can Computing and AI Break Through the Traditional Paradigm of Drug Discovery?
Entering the Game, Direction, and the Future.
5Y Capital's Xu Tian Jing: Why We're Bullish on Digital Pharmaceutical R&D | 5Y Talk
The ITBT track has a promising future ahead.
Are Returnee Entrepreneurs Losing Their Edge? | 2021 FreeS Fund China-US Venture Forum Transcript
Launch a Startup or Take the "Soft Landing" Through Employment?
FreeS Fund China-US Venture Forum Session 2 is still open for registration; FreeS Fund receives multiple recognitions from Langchao New Consumption, Joy Capital, and Qiming Technology & New Voice Innovation Service
Do what's right, not what's easy.
FreeS Fund 2021 Outlook ② | Three Trends in Biomedical Innovation
The Biopharma Industry Enters the "Three Fast" Era
FreeS Fund Is Hiring Investors and Interns, Wins Multiple Awards from Forbes, TMTpost, CVCRI, and ToB Industry Network | Frees Fund Vol. 6
Do what's right, not what's easy.
Source Code Capital portfolio company METiS Pharmaceuticals announced the completion of angel+ and Pre-A funding rounds totaling over 100 million yuan, with existing investor Source Code Capital continuing to increase its stake.
It was the first to propose building an AI-driven formulation development platform, jointly advancing new formulation drugs to clinical trials.
Why Is AI Drug Discovery So Hot, and Why Now? | FreeS Fund Biomedical VC Summit Transcript
Why We're Bullish on AI Drug Discovery
Blue Ocean Strategy: How Early-Stage Biopharma Startups Can Break Through and Win with Big Pharma | FreeS Fund 2020 Biopharma Summit Session 3 — Registration Open
From "Me Worse" to "First in Class": How Can Biopharma Companies Compete Through Differentiation?
Why Is AI Drug Discovery So Hot? And How Long Will It Stay Hot? | FreeS Fund Events & Research Recs
Three Slightly Brain-Burning Little Gifts
Beyond the "Narrow Door": A Real-World Portrait of Early-Stage Frontier Biotech Entrepreneurship in China | FreeS Fund 2020 Biotech Summit Registration Now Open
Will Today’s US Biotech Become China’s Tomorrow?
FreeS Fund Wins Multiple Awards from Zero2IPO, ChinaVenture, and Cyzone; See You Tomorrow at 9 AM in the Live Room | Frees Fund Vol. 4
Looking forward to having you join us!
Li Feng: One Chart to Decode Biotech Innovation Opportunities | Your Complete Guide to the FreeS Fund 2020 Biomedical Summit
Three Livestreams and One Offline Symposium, Decoding the Era of Biomedical Innovation
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.
5Y Capital's Xutian Jing: ITBT Sector Has a Promising Future, Poised to Produce a New Breed of Pharma Companies with Strong Cash-Generation Capabilities | Light View
ITBT is a long game, but when it succeeds, its contribution to human society is immense.
FreeS Fund Healthcare Open Day Is Here: Entering the Grand Era of Biomedical Innovation
Looking for China's Genentech, Moderna, Alnylam, Spark, Nimbus Therapeutics
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.
FreeS Fund received eight recognitions from institutions including *Fortune* (Chinese edition), 36Kr, and the Fund of Funds Alliance.
Do what's right, not what's easy.
AI-powered pharmaceutical formulation development company "METiS" announced the completion of a multi-million dollar angel round — Source Code Capital participated as a follow-on investor.
The world's first startup to use AI to drive pharmaceutical formulation development, dedicated to providing drug companies with rapid, precise intelligent formulation R&D through high-throughput formulation platforms and AI computing technologies.
Beauty Brands Entering China, Becoming India's Third-Largest E-Commerce Player, and Betting on Biomedical — 22 Developments and 5 Takeaways | FreeS Fund Bulletin · September
Do what's right, not what's easy.
FreeS Fund Report 16: The Truth About Early-Stage Healthcare Investing and China Speed | Frees Fund
Is early-stage healthcare investment really as "high-cost, high-risk, slow-return" as they say?
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.
Our Three Years: Experimenting, Exploring, and Pushing Forward
Still believing in the mission, still hoping to create value.
We Want You! FreeS Fund 2019 Spring North America Roadshow
You're the next star-picker in venture capital.
FreeS Fund Is Hiring Investors | Let's Do What's Right, Not What's Easy
"The Summit" is rising — we're waiting for you!
Harvard x MIT x Stanford x CMU x Berkeley, Meeting Gen Z | FreeS Fund North America Campus Recruitment
Welcome aboard. Join the innovators and build something new.
The Birth of a Retail Unicorn, Winning the Championship, and Finding the "Nail"... 12 Advances and 3 Insights | FreeS Fund Blackboard · October
Continuing to Push on Consumer and Deep Tech
XtalPi Closes $46 Million Series B+ Round | FreeS Fund Deal Brief
Empowering drug R&D organizations worldwide.
Top 5/15/50/100, Going Global to India, Teaming Up with Tencent on IVI... 13 Takeaways and 8 Insights | FreeS Chalkboard · August
"Choose the more long-term path, even if it's the harder one."
A Founder's 365 Days: The Days That Got Us Through, and 22 Amazing Moments | FreeS Fund Year-End Special
Here's to exploration, struggle, and perseverance. Happy New Year!
创业永处战时，11位CEO谈人性、谋虑与担当 | 2018峰瑞CEO年会回顾
除了不放弃，还要有逆流而上的能力。
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.
Go Explore, Go Strive, Go Persist | 2018 FreeS Fund CEO Annual Meeting Recap
Here, you'll meet more fellow travelers.
Li Feng Column | From iPhone X, Smart Speakers to New Drug R&D and Environmental Monitoring: How I View Technological Innovation
Look for opportunities at the intersection of technological innovation and physical industries — where digital solutions meet real-world infrastructure, manufacturing, and heavy assets.
From Cracking the New Consumption Top 10 to New Frontiers in Intelligent Manufacturing and Green Healthcare | FreeS Fund Blackboard · October
Investing is also a form of entrepreneurship — may we make the most of our time.
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