Advantech Capital

Advantech Capital, established in 2016 and headquartered in Hong Kong, is a growth capital firm focused on minority investments in China. It primarily targets the healthcare and technology, media, and telecommunications (TMT) sectors, providing growth equity and later-stage venture capital. The firm invests in companies driving innovation, with a particular interest in Internet of Things (IoT) solutions, given its association with Advantech, the world's leading industrial PC supplier. Advantech, founded in 1981, specializes in single-board computers, fanless IPCs, and digital signage, serving a wide range of industries.

KC Liu

Chairman and Founder

43 past transactions

Aures Technologies

Acquisition in 2024
AURES Technologies is a company that specializes in the design, manufacture, and marketing of point of sale (POS) systems and related equipment. Its product offerings include all-in-one touch screen terminals, modular POS solutions, mobile tablets, and various peripherals such as thermal receipt printers, barcode scanners, and biometric readers. The company primarily serves businesses in sectors like retail, hospitality, and food service, providing essential tools for transactions and customer interactions. With a focus on innovation and user-friendly design, AURES Technologies aims to enhance operational efficiency for its clients through its comprehensive range of POS solutions and accessories.

ELITE Technology

Series C in 2022
Beijing Elite Technology Co., Ltd. specializes in the manufacturing of industrial robots, focusing on advanced automation solutions. The company has developed a seven-axis collaborative robot that employs deep neural network technology to effectively identify and capture irregularly shaped objects. By integrating 2D and 3D data, this system enhances the accuracy of depth vision sensors, resulting in improved capture success rates and increased versatility in handling various items. Elite Technology's robotic systems are applicable across multiple sectors, including 3C (computers, communications, and consumer electronics), logistics, retail, and catering, showcasing their potential to streamline operations in diverse industrial environments.

CureGenetics

Series B in 2022
CureGenetics is a biotechnology company focused on advancing innovative medicines and molecular diagnostics through the application of gene editing technologies. The company specializes in the research and development of solutions aimed at the treatment of cancers and genetic diseases. CureGenetics is dedicated to creating next-generation therapies that enhance patient outcomes by leveraging cutting-edge techniques in gene editing and delivery platforms. Through its efforts, the company aims to contribute significantly to the field of personalized medicine and improve treatment options for complex health conditions.

Innoforce Pharmaceuticals

Series A in 2021
Innoforce Pharmaceuticals Co., Ltd is a biopharmaceutical company based in Hangzhou, China, founded in 2018. The company specializes in the development and commercialization of biomedicines and therapies, including cell and gene therapies, medicines, and antibodies. Innoforce operates biologic process development laboratories and offers end-to-end contract development and manufacturing services to support biotech enterprises in their research and development and manufacturing needs. By providing customized product development and operations management, Innoforce enables its clients to effectively bring their biopharmaceutical products to market.

Ablaze Pharmaceuticals

Series A in 2021
Ablaze Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing Targeted Radiotherapy (TRT) treatments aimed at benefiting cancer patients. The company focuses on innovative TRT products, utilizing the extensive business experience and networks of its founders in cross-border product development and deal-making. By targeting the Chinese market, Ablaze Pharmaceuticals seeks to provide effective cancer treatment options tailored to the needs of patients in the region.

Zhimeng Biopharma

Series B in 2021
Zhimeng Biopharma, established in 2017 and headquartered in Shanghai, China, specializes in developing innovative medicines for chronic hepatitis B (CHB) and related liver diseases. Its portfolio includes HBV capsid inhibitor (CB-001), HBsAg inhibitor, TLR8 agonist, OX-40 agonist, and KCNQ2/3 K+ channel opener for epilepsy. Additionally, Zhimeng is actively exploring novel small molecule drugs to address neurological conditions like epilepsy, pains, and strokes.

Boan Biotech

Series B in 2021
Boan Biotech is a fully integrated biopharmaceutical company dedicated to developing, manufacturing, and commercializing high-quality biologics. The company specializes in therapeutic antibodies, with a focus on key areas such as oncology, metabolism, autoimmunity, and ophthalmology. Boan Biotech operates primarily within Mainland China, generating revenue from customers in this region while also expanding its reach globally.

Zhuanzhuan

Series D in 2021
Zhuanzhuan is an online marketplace based in China that specializes in the buying and selling of secondhand goods. Launched in November 2015, it serves as a goods trading unit for 58.com, the country's largest online marketplace. The platform facilitates the trading of secondhand items by providing users with an efficient trading environment and quality assurance services. This approach enables customers to enhance their trading experiences and effectively utilize secondhand goods. Zhuanzhuan aims to streamline the process of secondhand trading, making it accessible and reliable for a broad audience.

OncoNano Medicine

Series B in 2021
OncoNano Medicine, Inc. is a biotechnology company based in Southlake, Texas, founded in 2014. The company specializes in developing pH-activated compounds and nanotechnology-enabled fluorescent probes aimed at improving cancer surgery outcomes. Its flagship program, ONM-100, targets tumor acidosis to differentiate cancerous tissue from healthy tissue, allowing surgeons to visualize tumors more accurately during procedures. By exploiting the variability of pH in disease, OncoNano Medicine's innovative approach enhances the precision of tumor excision and aids in the detection and treatment of diseased tissue. This technology not only assists in intraoperative cases but also supports post-surgery evaluations, making it a valuable tool in cancer care.

Stemirna

Venture Round in 2021
Stemirna Therapeutics is a RNA technology based drug development company designed to maximize the potential of RNA science. The company currently has more than a dozen of independently-developed mRNA drug projects, focusing on the fields of mRNA-based personalized cancer vaccines, mRNA vaccines for infectious disease, protein defects diseases, and genetic diseases, providing cure and solutions for cancer and infectious diseases, better serving patients.

Boan Biotech

Series A in 2021
Boan Biotech is a fully integrated biopharmaceutical company dedicated to developing, manufacturing, and commercializing high-quality biologics. The company specializes in therapeutic antibodies, with a focus on key areas such as oncology, metabolism, autoimmunity, and ophthalmology. Boan Biotech operates primarily within Mainland China, generating revenue from customers in this region while also expanding its reach globally.

Harbour BioMed

Series B in 2020
Harbour BioMed is a biotechnology company focused on discovering and developing therapeutics for cancer and inflammatory diseases. Established in 2016 with operations in Shanghai, Cambridge, and Rotterdam, the company leverages its proprietary transgenic mouse platforms to generate fully human monoclonal antibodies (H2L2) and heavy chain only antibodies (HCAb), enabling the development of differentiated compounds such as bi-specific and multi-specific antibodies. Harbour BioMed collaborates strategically with various institutions and companies, including The Wistar Institute, WuXi Biologics, and Vir Biotechnology, to advance its pipeline of therapeutics targeting autoimmune diseases, dry eye disease, COVID-19, and other indications.

Impelex Data Transfer

Corporate Round in 2020
Impelex Data Transfer Co., Ltd., founded in 2013 and located in Taichung, Taiwan, specializes in system integration services. The company focuses on forming strategic alliances to deliver innovative smart manufacturing solutions tailored for the metal processing and hand tool production industries. By leveraging advanced technologies, Impelex aims to enhance operational efficiency and productivity for its clients in these sectors.

Kaiyi Technology

Series A in 2019
Kaiyi Technology provides vehicles with assisted driving safety algorithms through image recognition, machine learning, and artificial intelligence. Focusing on the front-loading ADAS algorithm, it also designed an algorithm model for the aftermarket, providing the ADAS SDK for in-vehicle intelligent hardware, and implementing accurate ADAS functions on various hardware platforms, which will make greater contributions to the field of autonomous driving in the future.

Alphamab Oncology

Series B in 2019
Alphamab Oncology is a clinical-stage biopharmaceutical company based in Suzhou, China, specializing in the research, development, manufacturing, and commercialization of innovative therapeutics for cancer treatment. The company utilizes proprietary platforms in bispecific antibodies and protein engineering to create a robust pipeline of oncology and immunology products. Key candidates in development include KN046, a bispecific monoclonal antibody immune checkpoint inhibitor targeting PD-L1 and CTLA-4, and KN026, an advanced anti-HER2 bispecific antibody. Additionally, KN019, an immunosuppressant fusion protein, and KN035, a PD-L1 inhibitor, are also progressing through clinical trials, addressing various solid tumors and autoimmune conditions. Founded in 2008, Alphamab Oncology is committed to developing next-generation therapies to meet global medical needs in oncology.

Mojo Vision

Series B in 2019
Mojo Vision Inc. is a technology company based in Saratoga, California, founded in 2015. The company specializes in the development of augmented reality solutions, focusing on high-performance micro-LED display technology. Mojo Vision has created the world's smallest and densest dynamic display for smart contact lenses, which are designed to provide users with timely information seamlessly and hands-free, without the distractions associated with traditional mobile devices. The company is also engaged in a joint development agreement with Menicon Co., Ltd. to explore smart contact lens products, further enhancing its innovative offerings. By combining advanced display and semiconductor expertise with proprietary quantum-dot technology, Mojo Vision aims to revolutionize the display industry, addressing diverse applications across consumer, enterprise, and government sectors.

InventisBio

Series C in 2019
InventisBio Inc. is a biotechnology company focused on discovering and developing innovative therapeutics for cancer and metabolic diseases. Founded in 2013 and based in Pudong, China, the company has developed a range of small molecule drug candidates targeting lung cancer, breast cancer, and gout. Among its notable products is D-0316, a third-generation EGFR-T790M tyrosine kinase inhibitor. InventisBio is also engaged in creating targeted immuno-oncology therapies that can be used in combination with existing treatments, such as PD-1 antibodies, to address various cancer indications. Co-founded by Dr. Yaolin Wang and a team of scientists with extensive experience in drug discovery at major pharmaceutical companies, InventisBio aims to provide effective therapies for significant health challenges.

AutoAI

Series A in 2019
AutoAI Technology Co., Ltd. is a developer and operator of advanced navigation technologies for connected vehicles, primarily focusing on the automobile industry. Established in 2018 and based in Beijing, China, the company creates a comprehensive platform that integrates various Internet services into vehicles. Its offerings include telematics components, a vehicle-optimized Android operating system, and cloud-based technologies for data acquisition, storage, and analysis. AutoAI's software solutions enhance dashboard computers with integrated navigation, entertainment, voice control, and driver assistance functions. Additionally, it provides services such as real-time weather updates, traffic information, parking solutions, fueling options, and insurance services, positioning itself at the forefront of intelligent, self-driving vehicle technology. AutoAI operates as a subsidiary of NavInfo Co., Ltd.

Emotibot

Series B in 2018
Emotibot Technologies Limited is a Shanghai-based company founded in 2015 that specializes in developing artificial intelligence systems with emotional intelligence capabilities. The company designs and creates bots that can read, see, listen, remember, and learn, enabling them to understand human emotions and intentions. Emotibot's offerings include various products such as Personal Bot, Fin Bot, and Service Bot, along with emotion recognition solutions like Emoti-Voice and Fatigue Detection. These systems are applicable across multiple sectors, including e-commerce, finance, smart devices, and call centers, providing user-centered solutions that enhance customer interactions throughout the entire sales cycle. By leveraging machine learning and affective computing, Emotibot aims to improve understanding of user intent and reduce operational costs for businesses.

Alphamab Oncology

Series A in 2018
Alphamab Oncology is a clinical-stage biopharmaceutical company based in Suzhou, China, specializing in the research, development, manufacturing, and commercialization of innovative therapeutics for cancer treatment. The company utilizes proprietary platforms in bispecific antibodies and protein engineering to create a robust pipeline of oncology and immunology products. Key candidates in development include KN046, a bispecific monoclonal antibody immune checkpoint inhibitor targeting PD-L1 and CTLA-4, and KN026, an advanced anti-HER2 bispecific antibody. Additionally, KN019, an immunosuppressant fusion protein, and KN035, a PD-L1 inhibitor, are also progressing through clinical trials, addressing various solid tumors and autoimmune conditions. Founded in 2008, Alphamab Oncology is committed to developing next-generation therapies to meet global medical needs in oncology.

Xiaozhu.com

Series F in 2018
Xiaozhu.com (小猪短租网) is a Chinese booking website for daily rental and short-term rooms. It aims to provide a guaranteed platform for online communication and transactions for landlords and tenants. Also, a green platform ecosystem is established by mechanisms such as property and personal safety guarantee schemes as well as identification. This will effectively take full advantages and maximize the value of landlords' idle resources through sharing. Meanwhile, it enhances the social relationship and interaction between landlords and tenants and provides tenants with more humanized accommodation experience which is different from traditional hotels. Currently, the company has had branches in 13 cities all over the country and its house sources cover more than 130 domestic cities.

Advantech Technologies Japan

Acquisition in 2018
Advantech Technologies Japan focuses on high-mix and small volume tailor-made embedded design-in services. The company was formerly known as OMRON Nohgata, a subsidiary of Omron Corporation, which was acquired by Advantech in 2018. ATJ is based in Nogata, Fukuoka, Japan.

Harbour BioMed

Series B in 2018
Harbour BioMed is a biotechnology company focused on discovering and developing therapeutics for cancer and inflammatory diseases. Established in 2016 with operations in Shanghai, Cambridge, and Rotterdam, the company leverages its proprietary transgenic mouse platforms to generate fully human monoclonal antibodies (H2L2) and heavy chain only antibodies (HCAb), enabling the development of differentiated compounds such as bi-specific and multi-specific antibodies. Harbour BioMed collaborates strategically with various institutions and companies, including The Wistar Institute, WuXi Biologics, and Vir Biotechnology, to advance its pipeline of therapeutics targeting autoimmune diseases, dry eye disease, COVID-19, and other indications.

Ideanomics

Post in 2018
Ideanomics is a multinational company based in New York, dedicated to accelerating the commercialization of electric vehicles through its Ideanomics Mobility and Ideanomics Energy divisions. The Mobility unit focuses on various electric vehicle types, including trucks, vans, tractors, and two-wheelers, and comprises several operating companies such as VIA, Energica, Solectrac, United States Hybrid, and Tree Technologies. The Energy division specializes in charging infrastructure and energy-related products and services, while Ideanomics Capital provides financing solutions to support the Mobility and Energy business units. By integrating vehicle procurement, financing, and energy management, Ideanomics aims to facilitate the adoption of electric vehicles among commercial fleet operators. The company operates globally, with a presence in the U.S., China, Ukraine, and Malaysia, striving to enhance transparency, efficiency, and accountability in the electric vehicle sector.

Zhihu

Series E in 2018
Zhihu is a prominent Chinese social question-and-answer platform that allows users to seek information by soliciting opinions and insights from individuals rather than relying solely on traditional forum responses. Established to foster a community-driven exchange of knowledge, Zhihu has grown significantly, with a registered user base exceeding 300,000 by early 2012. The company operates primarily within the online content community space, monetizing its services through a combination of paid memberships, advertising, content-commerce solutions, and vocational training offerings. All of its revenue is generated from within China, reflecting its focus on the domestic market and its commitment to providing users with a rich and engaging platform for knowledge sharing.

Sinovac Biotech

Post in 2018
Sinovac Biotech Ltd., established in 1999 and headquartered in Beijing, China, is a biopharmaceutical company dedicated to the research, development, manufacture, and commercialization of vaccines against human infectious diseases. Its portfolio includes vaccines for hepatitis A and B, enterovirus 71 (EV71), seasonal influenza, H5N1 and H1N1 pandemic influenza, mumps, and hand, foot, and mouth diseases. Notable products include Healive for hepatitis A, Bilive for combined hepatitis A and B, Anflu for seasonal influenza, Panflu for H5N1 influenza, Panflu.1 for H1N1 influenza, and Inlive for EV71. The company has completed phase III clinical trials for varicella and pneumococcal polysaccharide vaccines and is advancing trials for other vaccines such as Sabin inactivated polio, pneumococcal conjugate, rubella, and quadrivalent influenza. Sinovac collaborates with GlaxoSmithKline Biologicals SA and Tianjin CanSino Biotechnology Inc. for vaccine development. The company primarily sells its vaccines in China and exports to select countries including Mongolia, Nepal, and the Philippines.

Nanos Medical

Series B in 2018
Nanos Medical specializes in the research, development, manufacturing, and sales of disposable medical devices, primarily targeting the cardiovascular and ear, nose, and throat (ENT) fields. The company offers a range of innovative products, including sinus balloon catheters, eustachian tube balloons, disposable nasopharyngeal airways, nasolacrimal balloons, and drug-eluting stents for sinus applications. Through its advanced medical devices, Nanos Medical aims to enhance treatment options for hospitals and patients, contributing to improved healthcare outcomes.

Alitekin Technology

Acquisition in 2018
Alitek is a provider of Industrial automation solutions.

Qutoutiao

Series B in 2018
Qutoutiao Inc. is a prominent mobile content platform in China, focused on the distribution, consumption, and sharing of light entertainment content. Founded in 2016 and headquartered in Shanghai, the company operates its flagship mobile application, Qutoutiao, which aggregates articles and short videos from various content providers, delivering real-time customized feeds to users based on their profiles and behaviors through an AI-driven recommendation engine. This innovative platform not only enhances user engagement but also promotes knowledge exchange within society. In addition to Qutoutiao, the company offers Midu Novels and Midu Lite, mobile literature applications that provide users with free literature supported by advertising. Qutoutiao employs a gamified loyalty program that rewards users for engagement and referrals, further strengthening user retention and optimizing content recommendations. As the second-largest mobile content aggregator in China, Qutoutiao continues to leverage technology to elevate the user experience and foster a vibrant content ecosystem.

Harbour BioMed

Series A in 2018
Harbour BioMed is a biotechnology company focused on discovering and developing therapeutics for cancer and inflammatory diseases. Established in 2016 with operations in Shanghai, Cambridge, and Rotterdam, the company leverages its proprietary transgenic mouse platforms to generate fully human monoclonal antibodies (H2L2) and heavy chain only antibodies (HCAb), enabling the development of differentiated compounds such as bi-specific and multi-specific antibodies. Harbour BioMed collaborates strategically with various institutions and companies, including The Wistar Institute, WuXi Biologics, and Vir Biotechnology, to advance its pipeline of therapeutics targeting autoimmune diseases, dry eye disease, COVID-19, and other indications.

Kbp Biosciences

Series A in 2018
KBP Biosciences is a biotechnology research and development organization focused on creating innovative therapies for unmet medical needs, particularly in the fields of cardiovascular, respiratory, inflammatory, and autoimmune diseases. The company is dedicated to the research, development, and commercialization of novel medicines, leveraging new drug development ideas alongside its own medicinal chemistry expertise. With a strong emphasis on clinical development and regulatory compliance, KBP Biosciences aims to empower healthcare providers by offering effective treatments to improve patient outcomes in areas where existing therapeutic options are limited.

DTRM Biopharma

Series A in 2018
Biopharma company conducting clinical trials for cancer research.

Petuum

Series B in 2017
Petuum Inc., established in 2014 and headquartered in Pittsburgh, Pennsylvania, specializes in developing and operating a machine learning infrastructure platform. The company's core product is PetuumOS, an operating system and virtualization interface that facilitates the creation, deployment, and management of machine learning and deep learning applications across diverse hardware environments from a single terminal. Additionally, Petuum offers Poseidon, a deep learning computing framework, and PetuumMed, a healthcare software system with end-to-end AI capabilities. The company aims to democratize advanced AI technology by providing innovative solutions that are simple, cost-effective, and tailored to specific industry needs.

Harbour BioMed

Series A in 2016
Harbour BioMed is a biotechnology company focused on discovering and developing therapeutics for cancer and inflammatory diseases. Established in 2016 with operations in Shanghai, Cambridge, and Rotterdam, the company leverages its proprietary transgenic mouse platforms to generate fully human monoclonal antibodies (H2L2) and heavy chain only antibodies (HCAb), enabling the development of differentiated compounds such as bi-specific and multi-specific antibodies. Harbour BioMed collaborates strategically with various institutions and companies, including The Wistar Institute, WuXi Biologics, and Vir Biotechnology, to advance its pipeline of therapeutics targeting autoimmune diseases, dry eye disease, COVID-19, and other indications.

Petuum

Series A in 2016
Petuum Inc., established in 2014 and headquartered in Pittsburgh, Pennsylvania, specializes in developing and operating a machine learning infrastructure platform. The company's core product is PetuumOS, an operating system and virtualization interface that facilitates the creation, deployment, and management of machine learning and deep learning applications across diverse hardware environments from a single terminal. Additionally, Petuum offers Poseidon, a deep learning computing framework, and PetuumMed, a healthcare software system with end-to-end AI capabilities. The company aims to democratize advanced AI technology by providing innovative solutions that are simple, cost-effective, and tailored to specific industry needs.

Rokid Technology

Series B in 2016
Rokid Technology, established in 2014, is a California-based company specializing in artificial intelligence and robotics. It develops and manufactures smart devices, including AI-powered smart speakers and augmented reality (AR) smart glasses. Rokid's products, such as the Rokid Glass, incorporate advanced AI capabilities like facial recognition, language translation, and voice control, providing users with an interactive experience by overlaying digital information onto the physical world. The company's offerings cater to both consumer and industrial markets, aiming to enhance human-computer interaction through superior industrial design and user experience.

TrustDecision

Series B in 2016
TrustDecision is a Chinese fintech company established in 2013 and headquartered in Hangzhou. It specializes in developing online software solutions aimed at anti-theft and fraud management across various sectors, including finance, insurance, payments, online shopping, and social networking. By providing risk control services, TrustDecision helps businesses mitigate fraud risks and enhance security in their digital transactions. The company's innovative approach to risk management positions it as a key player in the fintech landscape, catering to the growing demand for effective fraud prevention solutions in an increasingly digital economy.

Zai Lab

Series B in 2016
Zai Lab Limited is a biopharmaceutical company based in Shanghai that focuses on discovering, developing, and commercializing innovative therapeutics for oncology, autoimmune, and infectious diseases. Founded in 2013, the company has established a diverse pipeline of proprietary drug candidates, including Niraparib for various solid tumors, Ripretinib for KIT and PDGFRa-driven cancers, and Margetuximab for breast and gastric cancers. Zai Lab also develops antibiotics such as Omadacycline and Durlobactam for bacterial infections. The company seeks to address unmet medical needs in China and globally by leveraging partnerships with leading biopharmaceutical firms and utilizing its in-house manufacturing capabilities. Zai Lab aims to establish itself as a fully integrated biopharmaceutical entity, enhancing its drug development efforts through collaborations with academic institutions and expanding its commercial reach in the Chinese market.

B+B SmartWorx

Acquisition in 2015
Advantech B+B SmartWorx Inc. specializes in designing, building, and delivering connectivity and communication solutions for various applications. The company focuses on intelligent machine-to-machine (M2M) and Internet of Things (IoT) connectivity, offering a range of products that include Wzzard design and development kits, industrial and commercial Wzzard intelligent edge nodes, and Spectra 4G cellular Wi-Fi routers. Additionally, Advantech B+B SmartWorx provides Ethernet serial device servers, cables, Modbus gateways, protocol converters, and a selection of Ethernet switches, extenders, and routers. The company's solutions cater to both wireless and wired networks, ensuring reliable connectivity for diverse industries.

GPEG

Acquisition in 2013
GPEG Ltd. is a manufacturer and designer of specialized display solutions, primarily catering to the gaming industry. The company develops a range of products, including custom LCDs, Kickstart LCD modules, custom touchscreens, and monitors. Additionally, GPEG Ltd. produces alphanumeric LCD modules, monochrome graphics, and TFT modules, emphasizing intelligent displays tailored to specific applications. Their focus on creating bespoke display solutions positions them as a unique provider in the market.

Innocore Gaming

Acquisition in 2010
Innocore Gaming specializes in designing and manufacturing of hardware and software to the gaming industry. The company produces computer boards and other accessories for gaming applications.

DLoG

Acquisition in 2010
DLoG GmbH develops robust and mobile industry computer solutions for applications in intra logistics, on large machines and in industrial manufacturing. Their industry computers prove themselves everywhere where visualizations are required under tough environmental or surrounding conditions.
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