Co-Stone Capital

Co-Stone Capital is a prominent private equity firm based in Shenzhen, China, established over 16 years ago. As one of the earliest private equity institutions in the country, it specializes in growth stage and pre-IPO investments within the domestic market. The firm focuses on key industries such as technology, healthcare, consumer products, and advanced manufacturing, leveraging its deep understanding of the Chinese economy and specific growth patterns of companies. Co-Stone Capital has invested in over 100 companies, predominantly as lead investors, and has successfully exited 40 through initial public offerings, mergers, or reverse mergers. With assets under management exceeding 40 billion RMB, the firm employs various investment strategies including private equity, venture capital, and mergers and acquisitions. It boasts a diverse capital base that includes large insurance groups, government-guided funds, and high-net-worth individuals. Co-Stone Capital has received multiple accolades from industry publications, consistently ranking among the top investment firms in China. In addition to its headquarters in Shenzhen, it maintains offices in Beijing, Shanghai, and Hefei.

Tao Tao

Partner

70 past transactions

Yuweitek

Series B in 2023
YUWEITEK is a scientific and technological enterprise that provides advanced equipment for integrated circuit manufacturing. It provides customers with competitive products and technical solutions for integrated circuit manufacturing, advanced packaging, compound semiconductors, new displays, and other fields. The company focuses on the design and system integration of integrated circuit optical quality inspection systems, and around the autonomy of integrated circuit equipment, it has formed 6 categories of quality inspection products, including reticle inspection, wafer inspection, pan-semiconductor inspection, and wafer measurement, and is committed to becoming the world's No. An echelon of integrated circuit equipment technology providers.

Adaps Photonics

Series C in 2023
Shenzhen Adaps Photonics Technology Co., Ltd. is a photovoltaic chip company founded in 2018 and is based in Shenzhen, China.
Hochuen Medical was founded in 2015 by Dr. Robin Liu, an entrepreneur in IVD medical and microfluidics fields, and Eric Zeng, an expert in the electronics OEM industry. The founding management team has an average of more than 20 years of management experience in manufacturing of microfluidic devices, medical disposables, and consumer electronic products. Dr. Robin Liu, co-founder and president of Hochuen Medical, has more than 20 years of experience in the IVD and microfluidic industry, with experience at Motorola, CombiMatrix, GenMark, Beckman Coulter/Danaher, etc. Dr. Liu brings both experience in R&D and production management in the fields of molecular diagnosis, immunoassays, hematology, urinalysis, etc

Anshi New Energy

Series B in 2023
Anshi New Energy is involved in the lithium-ion battery industry chain. offers clean energy with digital and intelligent solutions and services, such as battery cells, battery modules, battery packs, cabinets such as battery cells, battery modules, battery packs, cabinets, and energy storage systems in the fields, including raw materials, battery cells, battery system integration, recycling, and secondary utilization.

Baiying Bio

Series B in 2022
Baiying Bio is a research and development outsourcing service provider.

Huafu Information

Venture Round in 2022
Huafu Information is committed to research and application development in the fields of artificial intelligence, big data and IT software. In the field of artificial intelligence, using its own core algorithm, focusing on face recognition, mainly used in smart airports, smart travel, smart education, etc.; big data anti-fraud risk control platform operated by Huafu Information, in the field of domestic anti-fraud control It is in a leading position to provide all-round security for Internet customer business security. At the same time, it provides expert-level services for customers in IT software platform construction and technology implementation.

Angstrong Tech

Series B in 2022
Shenzhen Angstrong Technology Co., Ltd. is a company based in Shenzhen, China, with additional branches in Shanghai and the United States. It specializes in 3D sensing and smart hardware solutions tailored for various applications, including mobile phones, tablets, PCs, security monitoring, financial security, augmented and virtual reality, smart retail, smart cities, automotive technology, artificial intelligence, robotics, smart homes, industrial measurement, and medical sectors. Angstrong Tech aims to deliver comprehensive solutions that enhance user experience across these diverse industries.

Maxone Semi

Series B in 2022
Maxone Semiconductor (Suzhou) Co.,Ltd engages in the research, development, design, and manufacturing of integrated circuits. It offers test solutions to semiconductor customers. The company's products includes cantilever and vertical integrated circuits. The company was founded in 2015 and is based in Suzhou, China.

EigenCOMM

Series C in 2022
Eigencomm is dedicated to the development and sales of cellular IoT chips.

Moffett AI

Series A in 2022
Moffett is building the world’s next generation AI computation platform, from ground up. They pioneer in deep learning algorithms and build computation platform that the world has never seen - powerful, fast and extremely energy efficient.
The predecessor of Zhongke Netwei is the "Netwei Security Studio" established by the Chinese Academy of Sciences in 1996. It is a network information security product and service provider, specializing in the research and development, production, sales and service of network security products, and is committed to providing users with consulting , Products, services, training and other comprehensive security solutions. Its security products are the "Zhongke Shenwei" series based on domestic CPUs, including three major product systems: security protection, security testing, and security management.

Xingu Microelectronics

Series C in 2022
Core Valley Microelectronics is an integrated circuit manufacturer dedicated to the development and production of microwave and millimeter wave monolithic integrated circuits. Recently, nearly 400 million yuan of C round of financing has been completed. Guangfa Qianhe led the round of financing, and several investment institutions such as Cornerstone Capital have followed up the investment. Through this financing, GF Qianhe will help Core Valley Micro to transform and upgrade into an IDM company in this field.

Vastai Technologies

Series B in 2021
Vastai Technologies is focused on developing AI chips for the optimization of computer vision and video processing.

Seesaw Coffee

Series B in 2021
Shanghai Seesaw Coffee Company Limited owns and manages coffee shops and sells specialty coffee and coffee related products. The company was founded in 2012 and is based in China.

Zhimeng Biopharma

Series B in 2021
Zhimeng Biopharma, Inc. develops medicines for the treatment of chronic hepatitis B (CHB) and related liver diseases. Its products include HBV capsid inhibitor (CB-001), HBsAg inhibitor, TLR8 agonist, OX-40 agonist, and KCNQ2/3 K+ channel opener for epilepsy. Zhimeng Biopharma, Inc. was founded in 2017 and is based in Shanghai, China.

IASO Biotherapeutics

Series C in 2021
Nanjing IASO Biotherapeutics is a clinical-stage biotechnology company established in 2017, specializing in the development of innovative therapies for cancer treatment. The company focuses on creating engineered autologous and allogenic T cell therapies aimed at enhancing the immune system's ability to identify and eliminate cancer cells. Its work centers on the discovery, development, and potential commercialization of cell therapies specifically in the oncology sector, striving to advance cancer care through these advanced therapeutic approaches. Based in Nanjing, China, IASO Biotherapeutics is dedicated to addressing the challenges posed by cancer through its targeted treatment solutions.

Clustar

Series A in 2021
Clustar is an artificial intelligence computing platform service provider. Bohai Nebula applies super-calculated research and technical results to the commercial field, providing an efficient distributed machine learning system for enterprise AI. At present, Xingyun Clustar is a project-based way to help companies land, with a unit price of one million yuan. For some enterprises with weak information and intelligence, Xingyun also provides integrated software and hardware solutions, including Ethernet RDMA + intelligent network card / self-developed switch

Pico Interactive

Series B in 2021
Pico Interactive focuses on developing innovative VR technology solutions. With operations in the United States and China, Pico is deeply committed to VR hardware and software R&D, VR application development and cutting edge industrial design. Pico’s goals are to deliver premium VR products to both consumers and businesses alike, and to partner with content creators to bring amazing VR experiences to people everywhere. Founded in 2015, They have grown to over 300 team members including product design, R&D, software development, QA and business development.
SmartMore focuses on the efficient combination of scientific research and industry. Break through the limits and continue to innovate. With intelligent manufacturing and ultra-high-definition video as the starting point, SmartMore is restructuring the AI system and architecture to let the machine understand more.

Biren Technology

Series B in 2020
Shanghai Biren Intelligent Technology Co., Ltd. specializes in the design and manufacture of intelligent chips, focusing on advanced computing solutions. The company operates in both software and hardware sectors, bringing together top industry talents, including technical experts and elite engineers, to develop innovative products. Its hardware division is dedicated to creating versatile computing solutions, while the software department enhances these offerings with specialized applications. Additionally, the company maintains a research institute that investigates key technologies related to intelligent computing systems, emphasizing the development of new architectures and advanced compilation techniques. Through these efforts, Biren Technology aims to establish itself as a leading player in the high-tech sector.

4Paradigm

Series C in 2020
4Paradigm is an artificial intelligence technology and service provider. Fourth paradigm has a machine learning technology that can accurately predict and mine data, help enterprises improve efficiency, reduce risks, and obtain greater commercial value. The “migration learning” initiated by the fourth paradigm founding team is considered by the industry to be "The next generation of artificial intelligence technology", the fourth paradigm maintains the world's leading edge in the field of migration learning

OPM Biosciences

Corporate Round in 2020
OPM Biosciences, founded in 2013 and located in Shanghai, China, specializes in the development and production of serum-free media specifically designed for culturing animal cells. The company focuses on providing innovative cell culture solutions that enhance research and production processes in the biotechnology sector. With a commitment to advancing cell culture techniques, OPM Biosciences aims to support various applications in life sciences research and biopharmaceutical development.

Datacloak

Series A in 2020
Datacloak, Inc. develops a computing platform that enables enterprises to store, access, and share data. It provides enterprise computing, cloud computing, and artificial intelligence for data security and privacy protection. Datacloak, Inc. is based in Shenzhen, China.

CF PharmTech

Series E in 2020
CF PharmTech, Inc. develops and manufactures inhalation products. The company’s products include metered dose inhaler (MDI), dry powder inhalers (DPI), nasal sprays, nebulizer, and respiratory medicines. It provides contract manufacturing organization (CMO) services. It conducts research and development in the areas of asthma, chronic obstructive pulmonary disease (COPD), and rhinitis. The company was founded in 2007 and is based in Suzhou, China.

Qdama

Series D in 2019
Qdama is a fresh agricultural product operation service provider that focuses on the operation of the fresh meat market.

Beijing Gene+ Technology

Series B in 2019
Beijing Gene+, also known as Beijing Gene Plus, provides gene testing services for cancer prevention, early detection, as well as providing data for the implementation of precision medicine. The company claims to operate in around 100 hospitals and have served thousands of cancer patients in China.

Lanrentingshu

Series D in 2019
Lanrentingshu was established in 2012. At present, there are nearly 30 million monthly active users, nearly 10 million daily users, and active users are listening for about 180 minutes per day. Users are mainly young people aged 16-25, with users in first- and second-tier cities accounting for more than 30%

Anlinkin

Seed Round in 2019
The joint lab established this time is the first scientific research and technical unit in China that specializes in the information security needs of enterprises in the cloud era & researches enterprise information security solutions. Through the joint lab simulation and technology implementation, UFIDA and 360 Enterprise Security inject the best business practices of enterprise-level market and leading security technology through the output of their talents, technologies and products, and provide enterprise users with business scenarios. The "user operated zero barrier" security solution.

Yuepu

Corporate Round in 2019
It is a comprehensive media group with social media marketing as its core. He has extensive experience in new media creative and new media media, as well as other businesses such as word of mouth and self-employed people. The group now has subsidiaries in different fields such as social media resource agency, secondary cultural industry service, and professional automobile integrated marketing.

Clustar

Series A in 2019
Clustar is an artificial intelligence computing platform service provider. Bohai Nebula applies super-calculated research and technical results to the commercial field, providing an efficient distributed machine learning system for enterprise AI. At present, Xingyun Clustar is a project-based way to help companies land, with a unit price of one million yuan. For some enterprises with weak information and intelligence, Xingyun also provides integrated software and hardware solutions, including Ethernet RDMA + intelligent network card / self-developed switch

DeepDive Education

Series A in 2019
Deep Dive was established in 2018. It was originally a “deep dive” training camp. It is an educational training camp with rowing as the main sport and entrepreneurs as the main participants. In 2014, Wang Shi came to the University of Cambridge with the first batch of entrepreneurs from the deep diving camp. Up to now, the deep diving overseas training camp has gone through nine issues.

Efort

Private Equity Round in 2018
Efort Intelligent Equipment Co., Ltd. designs and manufactures industrial automation equipment. The company provides customers with a range of industrial robot products and cross-industry intelligent manufacturing solutions. It offers industrial and painting robots. The company’s products are used in palletizing, handling, polishing, welding, and spraying functional applications. It serves the food, 3C electronics, home appliance, ceramic, and automobile and component industries. The company was founded in 2007 and is based in Wuhu, China.

Changyang Tech

Series A in 2018
Changyang Technology is an industrial IoT security solution provider, launching 7 product lines including security protection, monitoring and auditing, vulnerability scanning and mining, security testing tools, industrial terminal security, security situational awareness and industrial big data. Committed to providing customers with comprehensive industrial IoT security solutions.

Gooosun

Series A in 2018
Gooosun is a Shenzhen-based company established in 2015, specializing in the manufacturing of electronic control and power systems for new energy vehicles. The company produces a range of products, including main motor drive controllers, air compressors, oil pumps, auxiliary motor drive controllers for air conditioning and on-board charging, integrated motor and power controllers, car chargers, and vehicle DC-DC converters. Gooosun serves various segments within the automotive industry, including commercial vehicles, logistics vehicles, passenger cars, and mini cars.

Xinktech

Series A in 2018
Nanjing Xinktech Information Technology Co., Ltd. operates as a artificial intelligence and robotics company. It drives knowledge learning with big data, mines knowledge from a large number of unstructured data, and builds cross-media knowledge reasoning maps and machine generation. The company is based in Nanjing, China.

Xinktech

Angel Round in 2018
Nanjing Xinktech Information Technology Co., Ltd. operates as a artificial intelligence and robotics company. It drives knowledge learning with big data, mines knowledge from a large number of unstructured data, and builds cross-media knowledge reasoning maps and machine generation. The company is based in Nanjing, China.

Casiris

Series C in 2018
Casiris Vision is a limited liability company jointly invested by the Institute of Physics and Chemistry of the Chinese Academy of Sciences, Hangzhou Economic and Technological Development Zone, venture capital and technical team. The company is committed to R&D and production challenges. A pure laser display product with a human visual limit. In 2016, it was recognized as a national high-tech enterprise, a high-tech enterprise in Hangzhou, a technology-based enterprise in Zhejiang and Hangzhou Economic and Technological Development Zone. At present, Zhongke Aurora has 5,500 square meters of automated light source and complete machine production line, providing laser light source applications to home theater, engineering projection, film and lighting engineering complete solutions.

Give Me Five

Series B in 2018
Give Me Five is a film and television content production and distribution company.

Pagoda

Series B in 2018
Pagoda is a Shenzhen-based fresh fruit chain retailer.

CloverSec Labs

Series A in 2017
CloverSec Labs experimental research is mainly responsible for security vulnerabilities, the latest security information tracking, security event analysis Trojan virus, well-known platform vulnerabilities submitted with the application submitted to the relevant vulnerability CVE vulnerabilities and qualifications, submit loopholes in the SRC platform.

Wangteng Keji

Series A in 2017
Beijing Wangteng Technology Co., Ltd. develops infrastructure network security solutions. Its products, include industrial control behavior traceability system, industrial control security audit system, USB security isolation device, industrial security protection system, industrial security isolation gateway, industrial firewall, account centralized management audit, and network royal advanced warning system. Its also offers security consulting and evaluation of, safety operation and maintenance, safety training, risk assessment and security integration services. The company caters to oil and gas field mining, intelligent manufacturing, petrochemical, power industry, urban rail transit, coal mine, and city Internet of Things. The company was founded in 2015 and is based in Beijing, China.

SenseTime

Series B in 2017
SenseTime develops face recognition technology that can be applied to payment and picture analysis, which could be used, for instance, on bank card verification and security systems. Ranked fifth in China Money Network's China AI Top 10 Ranking in 2017, SenseTime currently provides its face recognition technology to over 300 companies including China Mobile Communication Co, China UnionPay, Huawei Technologies Co., Xiaomi, and JD.com. Founded in 2014, SenseTime says its face recognition technology has an error rate below one in 100,000. It also provides text, vehicle, and image recognition to mobile Internet companies, financial services, and security companies.

Carzone

Series B in 2017
Jiangsu Kangzhong Shiye Investment operates a retail chain, Carzone, that deals in and retails automotive post-market parts. The company was founded in 1995 and is based in Nanjing, China.

Efort

Series D in 2017
Efort Intelligent Equipment Co., Ltd. designs and manufactures industrial automation equipment. The company provides customers with a range of industrial robot products and cross-industry intelligent manufacturing solutions. It offers industrial and painting robots. The company’s products are used in palletizing, handling, polishing, welding, and spraying functional applications. It serves the food, 3C electronics, home appliance, ceramic, and automobile and component industries. The company was founded in 2007 and is based in Wuhu, China.

iPlas

Series B in 2016
iPlas has, in just a short year, become a leading industry-wide e-commerce platform for chemical engineering, rubber and plastics in China currently through geometrical growth. The platform’s profit-making business model of the 600 billion commodity plastic market have been verified, i.e. through expanding endusers scale to realize rapid increases in profits; in the future, the platform will extend its business and reach into the 1.4 trillion speciality plastic market with up to 20% gross profit margin. Currently, number of purchaser users registered on iPlas platform has quickly increased to over tens of thousands. Meanwhile, iPlas is currently the only chemical engineering, rubber and plastic B2B e-commerce platform in China that carries out self-support businesses in a large scale.
Suzhou Houghton Street Media Co.,Ltd. produces and distributes radio and television programs. The company was incorporated in 2011 and is based in Shanghai, China.

CheJianDing

Series A in 2016
Developer on an online platform intended to sell used cars and provide vehicle history reports in China. The company's platform is mainly engaged in providing vehicle's history including maintenance and repair records, providing users with transparent and accurate information about all used cars.

Xcar

Series A in 2016
XCar Power Technology & Trade Co., Ltd. operates an online portal that provides independent reviews and information for consumers considering car purchases. It also provides original and user-generated content, and a database of car and related product information in China. The company offers news, reviews, and information regarding the auto market for consumers considering car purchases. The company is based in Beijing, China. XCar Power Technology & Trade Co., Ltd. operates as a subsidiary of CBS Corporation.

Chuchujie

Series C in 2016
Founded in 2011, Chuchujie started as a shopping guide platform that provided information on deals - priced at RMB9.90 or below

Zhangshang Tangyi

Series B in 2016
Zhangshang Tangyi is a health management platform with a focus on diabetes. It allows patients to upload their own health data to their mobile app and receive treatment guidance from doctors. Zhangshang Tangyi was founded in 2014 and is based in Hangzhou, Zhejiang.

Muyingzhijia

Series C in 2015
Muyingzhijia operates as an online retailer of maternity, baby, and kids products. It offers products from suppliers including Mead Johnson, Pampers, Fisher Price, Gerber, and LEGO. The company is based in Shanghai, China.

lonwin

Series A in 2015
Suzhou Lonwin System Co., Ltd. is a private company engaged in medical magnetic resonance products' research and development, production, maintenance and services. The firm was founded in 2007 and is based in China.

Phoenix Travel Group

Series B in 2015
After twenty years of development, Phoenix Travel Worldwide (hereby Phoenix Travel) has become a leading tourism resource integration operation enterprise in China by taking its strong advantage of resource integration operations. Phoenix Travel is not only a member of China Association of Travel Services, Beijing Association of Travel Services and Pacific Area Travel Association (PATA), but also is rated as one of the first batch of 5A-level travel agencies in Beijing and a sponsor institution for the outbound tourism quality service supplier plan, ranking 13 among National Top 100 Travel Agencies in 2014. As a tourism enterprise developing rapidly, we have a team of more than one thousand people. The enterprise is headquartered in Beijing, with eight branch offices in Shanghai, Chengdu, Kunming, Taiyuan, Nanjing, Shenyang, Wuhan and Xi’an and nine agencies in Chongqing, Nanchang, Changsha, Tianjin, Zhengzhou, Jinan, Lanzhou, Guangxi and Inner Mongolia. The enterprise has two holding companies called Beijing My Tour International Travel Service and Shanghai Dongshang International Travel Service and a joint -stock company called China Smart MICE Group. Up to now, the business of Phoenix Travel has covered outbound destinations such as Europe, America, Australia, Africa and the Asia Pacific, including over 100 countries and regions in the world and having more than 2000 tourist routes. Four brands of Phoenix Travel, Globaljoy, Mostour, Star Tour and East Travel Holiday, comprehensively integrate and operate all tourist routes taking the diversification, theme and satisfaction degree of tourist products as the core. Besides the business of outbound tourism products, we have competitiveness of absolute advantages in fields such as high-end tourism, commercial tourism, airline ticketing, further studies, visa services, award tourism and extreme tourism.

Carzone

Series A in 2015
Jiangsu Kangzhong Shiye Investment operates a retail chain, Carzone, that deals in and retails automotive post-market parts. The company was founded in 1995 and is based in Nanjing, China.

Pharmplus

Series A in 2014
Suzhou Pharmplus Pharmacy Chain Co Ltd operates pharmacy store chain. The company is based in China.

ACCB Biotech

Series D in 2011
Beijing ACCB Biotech Ltd. (雅康博生物) is focused on the research and development of cancer detection methods through the application of molecular biology technologies. Based on the concept of personalized therapy, the company provides detection services that include early-cancer screening, drug selection, effect tracking, prognostic evaluation, transfer and recurrence monitoring, and other testing services. ACCB Biotech’s product series include EnzymAct, Baikangan, Gene 21 of Breast Cancer, automated workstation for nucleic acid extraction, and more. The company now has production, research and development, and service facilities of more than 3,000 square meters, and its cleanliness attains the criteria of 10,000 grades. In June, 2009, EnzymAct® was successfully approved by the State Food and Drug Administration.

Motie.com

Series B in 2010
Beijing Motie Book Corporation publishes books. The company is based in Beijing, China.

TaiRui

Angel Round in 2010
Ningxia Tairui Pharmaceutical Co., Ltd. engages in the research and development, production, and sale of raw materials, premixes, and feed additives. Its products include tylosin that is used in clinical treatment and prevention of mycoplasma; tilmicosin, which is used to treat pleuropneumoniae, pasteurella, and mycoplasma infections; tiamulin fumarate that is used to prevent and treat swine diarrhea, swine pneumonia, and arthritis; and erythromycin thiocyanate, a macrolide antibiotic, which is used for infectious respiratory diseases. The company was founded in 2000 and is based in Yinchuan, China.

TONLY

Venture Round in 2010
Shaanxi Tonly Heavy Industries Co.,LTD develops and manufactures off-road vehicles. It offers off-road trucks, such as stone hauling and tunnel vehicles, and gas trucks; and various sprinkler and bridge transport vehicles. The company also provides sales network, investment, after service, online training, and parts order services. It serves customers in China, as well as exports its products to various countries, including the Russian Federation, Mongolia, and Kazakhstan. The company was founded in 2004 and is based in Xianyang, China.

Motie.com

Series A in 2008
Beijing Motie Book Corporation publishes books. The company is based in Beijing, China.