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

Benjamin Qiu

Partner

43 past transactions

Aures Technologies

Acquisition in 2024
Aures Technologies specializes in importing and marketing computer terminals and equipment. The group's activity is organized around 2 families of product and services: outlets computer terminals and systems: ticket printers, cash registers, screens, bar code readers, etc., intended primarily for businesses, supermarkets, hotels, and restaurants.

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 developing innovative medicines and molecular diagnostics aimed at treating cancers and genetic diseases. The company specializes in research and development of gene editing technologies and delivery platforms, which are designed to provide advanced treatment solutions. By leveraging cutting-edge applications, CureGenetics seeks to address the challenges posed by these complex medical conditions through next-generation therapeutic approaches.

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 innovative biomedicines, including cell and gene therapies, medicines, and antibodies. Innoforce also operates biologic process development laboratories and offers end-to-end contract development and manufacturing services (CDMO) tailored to support biotech enterprises in their research and development and manufacturing efforts. Through its comprehensive services, Innoforce aids clients in bringing their biopharmaceutical products to market efficiently.

Ablaze Pharmaceuticals

Series A in 2021
Ablaze Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing targeted radiotherapy (TRT) treatments for cancer patients. The company aims to introduce innovative TRT products to the Chinese market, leveraging the founders' extensive experience and networks in cross-border product development and deal-making. By focusing on advanced therapeutic solutions, Ablaze Pharmaceuticals seeks to improve the outcomes and quality of life for cancer patients in China.

Zhimeng Biopharma

Series B in 2021
Zhimeng Biopharma, Inc. is a pharmaceutical company based in Shanghai, China, established in 2017. The company focuses on developing innovative treatments for chronic hepatitis B (CHB) and related liver diseases, with a pipeline that includes a HBV capsid inhibitor, HBsAg inhibitor, and various immunomodulators. In addition to its work on hepatitis B, Zhimeng is also advancing small molecule drugs aimed at treating neurological disorders, including epilepsy, pain, and strokes. The company's research targets multiple stages of the hepatitis B virus, with the goal of enhancing treatment options available to healthcare professionals and improving patient outcomes.

Boan Biotech

Series B in 2021
Boan Biotech is a fully integrated biopharmaceutical company specializing in the development, manufacture, and commercialization of therapeutic antibodies. The company focuses on several key therapeutic areas, including oncology, metabolism, autoimmunity, and ophthalmology. While it primarily generates revenue from customers in Mainland China, Boan Biotech aims to expand its reach globally. The company is committed to delivering high-quality biologics to address unmet medical needs in these critical fields.

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 focused on developing pH-activated compounds and nanotechnology-enabled fluorescent probes to enhance cancer surgery. Founded in 2014 and based in Southlake, Texas, the company aims to improve tumor visualization during surgical procedures by utilizing the variability of pH in diseased tissue. Its flagship program, ONM-100, specifically targets tumor acidosis, allowing for a clear distinction between cancerous and healthy tissues. This technology provides surgeons with the tools to excise tumors more accurately and manage cancer treatment effectively during and after surgery. OncoNano Medicine's innovative approach aims to enhance surgical outcomes and improve patient care in oncology.

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 specializing in the development, manufacture, and commercialization of therapeutic antibodies. The company focuses on several key therapeutic areas, including oncology, metabolism, autoimmunity, and ophthalmology. While it primarily generates revenue from customers in Mainland China, Boan Biotech aims to expand its reach globally. The company is committed to delivering high-quality biologics to address unmet medical needs in these critical fields.

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. is a system integration service provider based in Taichung, Taiwan, specializing in smart manufacturing solutions for the metal processing and hand tool production industries. Founded in 2013, the company focuses on forming strategic alliances to enhance operational efficiency and innovation in manufacturing processes.

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 company based in Saratoga, California, established in 2015, that specializes in augmented reality technology. The firm is focused on developing high-performance micro-LED displays for various applications, including consumer, enterprise, and government sectors. It has created the world's smallest and densest dynamic display integrated into a smart contact lens, designed to provide users with timely information without disrupting their focus. This innovative product allows for hands-free connectivity and access to relevant information, thereby minimizing reliance on traditional mobile devices. Additionally, Mojo Vision has formed a joint development agreement with Menicon Co., Ltd. to explore smart contact lens products further, leveraging its advanced micro-LED technology and manufacturing processes to disrupt the display industry.

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 specializes in targeted therapies, particularly for lung cancer, breast cancer, and gout. Its product pipeline includes small molecule drug candidates, such as D-0316, a third-generation EGFR-T790M tyrosine kinase inhibitor. InventisBio is also engaged in developing novel immuno-oncology therapies that can be used in conjunction with existing treatments like PD-1 antibodies for various cancer types. The company was co-founded by Dr. Yaolin Wang and other scientists with extensive experience in drug discovery at leading pharmaceutical firms, focusing on significant health challenges such as tumors and metabolic disorders.

AutoAI

Series A in 2019
AutoAI Technology Co., Ltd. is a Beijing-based company founded in 2018 that specializes in developing navigation technologies for connected vehicles. The company offers a comprehensive platform that integrates data and cloud services to enhance Internet accessibility within automobiles. Its product offerings include on-board components such as telematics boxes and a vehicle-optimized version of the Android operating system, alongside cloud-based technologies for data acquisition, storage, and analysis. Additionally, AutoAI provides various services to drivers, including entertainment, weather and traffic information, parking assistance, fueling options, and insurance services. As a subsidiary of NavInfo Co., Ltd., AutoAI also focuses on software solutions that incorporate artificial intelligence for dashboard functions, enhancing navigation, entertainment, voice control, and driver assistance in modern vehicles.

Emotibot

Series B in 2018
Emotibot Technologies Limited, founded in 2015 and based in Shanghai, specializes in developing artificial intelligence systems that enable robots to understand and respond to human emotions. The company offers a range of products, including personal bots, financial bots, and service bots, which utilize multi-modal emotion recognition and machine learning technologies. These systems facilitate human-like interactions through capabilities such as voice recognition, vision understanding, and affective computing. Emotibot's solutions cater to various sectors, including e-commerce, finance, smart devices, and call centers, enhancing user experience and operational efficiency by understanding customer intent and inquiries throughout the sales cycle. The company's innovative approach positions it as a significant player in the emotional intelligence and robotics field.

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 specializes in the research, development, and commercialization of new medicines, leveraging its expertise in medicinal chemistry and clinical development. By addressing gaps in treatment options, KBP aims to provide healthcare providers with effective solutions for managing conditions that currently lack adequate therapies.

DTRM Biopharma

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

Petuum

Series B in 2017
Petuum, Inc. is a developer of a machine learning infrastructure platform that aims to make advanced artificial intelligence technology accessible and affordable for various enterprises. Founded in 2014 and based in Pittsburgh, Pennsylvania, the company has created the Petuum Operating System (PetuumOS), which serves as a flexible operating system and virtualization interface. This platform enables users to build, deploy, and manage machine learning and deep learning applications across diverse hardware environments, including data centers and Internet of Things devices. Additionally, Petuum offers solutions such as Petuum Poseidon, a framework for deep learning programming, and PetuumMed, a healthcare software system that provides comprehensive AI functionalities. By standardizing AI solutions, Petuum facilitates easier adoption of AI across industries, helping organizations achieve higher productivity, improved service, reduced costs, and faster delivery of applications.

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. is a developer of a machine learning infrastructure platform that aims to make advanced artificial intelligence technology accessible and affordable for various enterprises. Founded in 2014 and based in Pittsburgh, Pennsylvania, the company has created the Petuum Operating System (PetuumOS), which serves as a flexible operating system and virtualization interface. This platform enables users to build, deploy, and manage machine learning and deep learning applications across diverse hardware environments, including data centers and Internet of Things devices. Additionally, Petuum offers solutions such as Petuum Poseidon, a framework for deep learning programming, and PetuumMed, a healthcare software system that provides comprehensive AI functionalities. By standardizing AI solutions, Petuum facilitates easier adoption of AI across industries, helping organizations achieve higher productivity, improved service, reduced costs, and faster delivery of applications.

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
B+B SmartWorx designs and delivers connectivity and communication solutions tailored for various applications, focusing on intelligent machine-to-machine (M2M) and Internet of Things (IoT) connectivity. The company offers a range of products including Wzzard design and development kits, intelligent edge nodes, and 4G cellular Wi-Fi routers. Additionally, it provides Ethernet serial device servers, cables, Modbus gateways, protocol converters, as well as Ethernet switches, extenders, and routers. B+B SmartWorx aims to facilitate both wireless and wired network solutions, catering to diverse industry needs.

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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