Nearly ten companies named to "2023 China Hidden Unicorn Top 500" | Xinwen NEWS
Tech and innovation that defy conventional wisdom.
On June 26, the 2023 China Hidden Unicorn Top 500 Conference was held in Suzhou, jointly supported by the China Economic Development Research Association, China Invention Association, China Investment Association, Chinese Society of Automotive Engineers, and Chinese Association for Artificial Intelligence. Nearly ten companies previously backed by Heart Capital were honored on the list, including: Lanhu (蓝湖), LinkedCare (领健), METiS Pharmaceuticals (剂泰医药), Starfield (星期零), Zhiketong (直客通), Robosen (乐森机器人), Lockin (云丁科技), Sunmi (商米科技), and Micro-nano Starry Sky (微纳星空), among others.
The "2023 China Hidden Unicorn Top 500 Ranking" is derived from the 2023 China Hidden Unicorn Top 500 Development Report. Based on the BIHU Entrepreneurship Unicorn Database (EMUDB), the report applies Hidden Unicorn evaluation criteria using Human Machine Intelligence technology to select the top 500 Hidden Unicorns nationwide by valuation.
The evaluation standards are:
- Company valuation between RMB 200 million (inclusive) and USD 1 billion;
- Possession of original or disruptive technology;
- Possession of a difficult-to-replicate business model;
- Company age of approximately five years;
- Alignment with current policy direction and absence of major negative public sentiment.
The China Hidden Unicorn Top 500 Ranking adopts the internationally recognized valuation standards for Hidden Unicorns, denominated in RMB, with a data reference date of May 25, 2023.
Hidden Unicorns represent the developmental precursor to full Unicorn status and serve as a key indicator for measuring innovation ecosystems and the growth drivers of science and technology economies. Leveraging proprietary technology and disruptive business models, they provide momentum for regional technological innovation and create non-consensus possibilities by challenging established consensus values. As an emerging venture capital firm rooted in China and focused on technology and digitalization, Heart Capital is dedicated to identifying non-consensus value and discovering non-consensus entrepreneurs, looking forward to growing alongside more Unicorns that break from traditional consensus.
Founded in 2022, Heart Capital is an early-stage Chinese venture capital fund focused on technology and digitalization.
The Heart Capital team is led by Yan Han, formerly a founding partner at Lightspeed China, alongside core investors, a CFO, and seasoned investors from industry backgrounds. Notable past investments include Series A rounds in Xpeng Motors (NYSE: XPEV, 09868.HK), Full Truck Alliance (NYSE: YMM), as well as FinVolution (NYSE: FINV), Fan Deng Reading, RoboSense, World Logistics, Micro-nano Starry Sky, LandSpace, Lanhu, Starfield, and others.
Rooted in China with a global outlook, Heart Capital strives to find true value in non-consensus spaces. The firm respects the value of "people" and champions the potential of "heart," aspiring to accompany more young Chinese entrepreneurs in strengthening China and expanding onto the world stage.
