New Alliance Capital

New Alliance Capital is a venture capital and private equity firm founded in 2008 and headquartered in Shanghai, China. The firm specializes in early-stage, growth-stage, and pre-IPO investments across a diverse range of sectors, including high-end manufacturing, technology, advanced agriculture, consumer goods, information, media, energy, recycling, environmental protection, and modern services. New Alliance typically invests amounts ranging from approximately $4.71 million to $31.41 million. In addition to its investments in China, the firm also focuses on private equity opportunities in the United States, particularly in the technology, media, and telecommunications (TMT), cultural media, healthcare, and energy sectors.

Zonghe Wu

Partner

Past deals in Asia

Core Medical Technology

Series D in 2025
Core Medical Technology is a technology enterprise mainly engaged in the research, production, development, and sales of implantable left ventricular assist devices, extracorporeal ventricular assist devices, percutaneous interventional ventricular assist devices, and equipment. The company was founded in 2016 and is based in Shenzhen, China.

LYNK Pharmaceuticals

Series C in 2023
LYNK Pharmaceuticals is a biotechnology company based in Hangzhou, China, specializing in the development of small molecule drugs aimed at treating tumors and autoimmune diseases. Founded in 2017, the company focuses on the discovery and development of innovative medicines in the fields of oncology, immunology, and inflammatory diseases. Its business operations include new drug research, sales, and activities related to patent authorization and transfer.

Core Medical Technology

Series C in 2022
Core Medical Technology is a technology enterprise mainly engaged in the research, production, development, and sales of implantable left ventricular assist devices, extracorporeal ventricular assist devices, percutaneous interventional ventricular assist devices, and equipment. The company was founded in 2016 and is based in Shenzhen, China.

Indiemicro

Series B in 2022
Indie microelectronics combines R&D, testing, platform development, application development, technical support, and sales centers. Sales and technical support centers have been established in Shanghai, Shenzhen, and Taipei with a focus on supporting semiconductor products for Great China customers.

Angstrong

Series B in 2022
Angstrong Tech is a developer and manufacturer specializing in 3D sensing and smart hardware. Headquartered in Shenzhen, with branches in Shanghai and the United States, the company focuses on creating advanced solutions for a wide array of applications, including mobile phones, tablets, PCs, security monitoring, and smart home technologies. Angstrong's 3D sensing technology enhances user experiences in various fields such as augmented and virtual reality, robotics, and smart retail. The company aims to deliver innovative and effective solutions for industries including financial security, automotive, industrial measurement, and healthcare, positioning itself as a leader in the evolving landscape of smart hardware.

LYNK Pharmaceuticals

Series B in 2021
LYNK Pharmaceuticals is a biotechnology company based in Hangzhou, China, specializing in the development of small molecule drugs aimed at treating tumors and autoimmune diseases. Founded in 2017, the company focuses on the discovery and development of innovative medicines in the fields of oncology, immunology, and inflammatory diseases. Its business operations include new drug research, sales, and activities related to patent authorization and transfer.

MediTrust Health

Series C in 2021
MediTrust Health is a leading healthcare platform in China that offers a wide range of health insurance products and comprehensive medical services. The company connects pharmaceutical companies, insurers, hospitals, and patients, creating a cohesive ecosystem that benefits all stakeholders involved. By integrating high-quality medical resources with health insurance, MediTrust Health aims to deliver affordable, personalized healthcare solutions to families. In addition to its insurance offerings, the company focuses on improving the management of medical expenses and enhancing patient access to necessary services through innovative payment solutions. MediTrust Health's commitment to addressing the complexities of medical financing and providing diverse healthcare benefits positions it as a significant player in the healthcare industry.

Infervision

Series D in 2021
Infervision is an artificial intelligence company based in Beijing that specializes in medical imaging diagnosis. Utilizing deep learning technology and computer vision, Infervision develops innovative solutions to assist in the diagnosis of cancers and other medical conditions. The company launched the world's first artificial intelligence precise healthcare platform and has introduced intelligent X-ray and CT diagnosis products, which are currently undergoing trials in several prominent hospitals in China. Infervision collaborates closely with top medical institutions, fostering strong partnerships with nearly 20 Tertiary Grade A hospitals, including Peking Union Medical College Hospital and Tongji Medical College. This collaboration aims to enhance the integration of medical data, technology, and application scenarios, ultimately providing more accurate and efficient diagnostic tools for healthcare professionals. Through its research and development efforts, Infervision is committed to advancing the field of artificial intelligence in healthcare, thereby improving patient outcomes and reducing costs.

Biotheus

Series D in 2021
Biotheus Inc. is a biotechnology company based in Zhuhai, China, established in 2018. The company specializes in the development of monoclonal antibodies, recombinant proteins, and peptide biopharmaceuticals, with a focus on treating malignant tumors and autoimmune diseases. Biotheus is dedicated to advancing innovative biologics through the discovery and commercialization of next-generation multispecific antibodies. Its research emphasizes the mechanisms of regulatory T cells and innate immunity, aiming to create more effective immunotherapy solutions for cancer and metabolic disorders.

CapitalBio Technology

Private Equity Round in 2021
CapitalBio Technology, established in 2012, is a leading life science company based in Beijing, China. It specializes in developing and commercializing a wide array of healthcare solutions, including diagnostic kits for respiratory pathogens, hepatitis B, and thalassemia, as well as a broad spectrum of microarray and microfluidic chips, related instruments, software, databases, reagents, and consumables. These products cater to diverse customers, from biomedical researchers to healthcare professionals, serving applications in basic research, drug development, clinical diagnostics, biosafety, food safety, and molecular breeding. The company also offers services such as Special Needs Plans (SNP) service, mRNA Expression Profiling Service, DNA methylation detection service, and sequencing services. CapitalBio Technology operates as a subsidiary of CapitalBio Corporation and the Biological Chip Beijing National Engineering Research Center, employing over 500 highly educated professionals.

InnoGrit Corporation

Series B in 2020
InnoGrit Corporation is a technology company that develops and markets advanced data storage and transport solutions for artificial intelligence and big data applications. Founded in 2016 and based in Shanghai, China, with additional offices in San Jose, California, and Chengdu, the company specializes in integrated circuit and system solutions. InnoGrit's product offerings include PCIe Gen 3 and Gen 4 solid state drive processors, such as Rainier, Shasta, Tacoma, and Shasta+, designed for both enterprise and client applications. The company's innovations aim to enhance data storage efficiency and speed, reduce network latency, and streamline data processing by combining storage, networking, and computation functions. InnoGrit also provides comprehensive support to its clients, addressing the growing demand for effective data backup and distribution in various sectors, including cloud computing and self-driving vehicle technologies.

Sight Diagnostics

Series D in 2020
Sight Diagnostics Ltd. is a medical device company based in Tel Aviv, Israel, focused on advancing blood diagnostics through the integration of machine vision and artificial intelligence. The company has developed a platform that utilizes digital fluorescent microscopy and computer vision algorithms to diagnose various blood diseases. Its flagship product, Parasight, is designed for malaria detection and has been used in nearly one million tests across 24 countries, although it is not available for sale in the United States. Additionally, Sight Diagnostics has introduced the Sight OLO, a blood analyzer that requires only two drops of blood from a finger prick or venous sample to deliver lab-grade Complete Blood Count results within minutes. With a presence in the UK, the US, and Israel, Sight Diagnostics is expanding its commercial footprint across five continents, aiming to enhance healthcare through fast and accurate blood testing solutions.

Biotheus

Series B in 2020
Biotheus Inc. is a biotechnology company based in Zhuhai, China, established in 2018. The company specializes in the development of monoclonal antibodies, recombinant proteins, and peptide biopharmaceuticals, with a focus on treating malignant tumors and autoimmune diseases. Biotheus is dedicated to advancing innovative biologics through the discovery and commercialization of next-generation multispecific antibodies. Its research emphasizes the mechanisms of regulatory T cells and innate immunity, aiming to create more effective immunotherapy solutions for cancer and metabolic disorders.

CapitalBio Technology

Series C in 2020
CapitalBio Technology, established in 2012, is a leading life science company based in Beijing, China. It specializes in developing and commercializing a wide array of healthcare solutions, including diagnostic kits for respiratory pathogens, hepatitis B, and thalassemia, as well as a broad spectrum of microarray and microfluidic chips, related instruments, software, databases, reagents, and consumables. These products cater to diverse customers, from biomedical researchers to healthcare professionals, serving applications in basic research, drug development, clinical diagnostics, biosafety, food safety, and molecular breeding. The company also offers services such as Special Needs Plans (SNP) service, mRNA Expression Profiling Service, DNA methylation detection service, and sequencing services. CapitalBio Technology operates as a subsidiary of CapitalBio Corporation and the Biological Chip Beijing National Engineering Research Center, employing over 500 highly educated professionals.

Shanghai Data Exchange

Series A in 2020
Shanghai Data Exchange Corp. is a leading platform in China focused on the circulation and interconnection of commercial data. Headquartered in Shanghai, the organization aims to create a pivotal hub for global data element configuration. It provides efficient and secure services for data transactions, facilitating cooperation between various institutions and integrating government and business data. In addition to promoting data circulation, Shanghai Data Exchange develops comprehensive digital asset management and trading systems, including a fully digital data transaction system and supporting services for data product registration. Through these initiatives, the firm seeks to enhance data supply and foster new formats of digital commerce within the global data ecosystem.

Westwell Lab

Series C in 2020
Westwell Lab is a commercial laboratory based in Shanghai, China, that specializes in neuromorphic circuits and systems. Established in 2015, the company focuses on developing advanced AI chips and autopilot systems utilizing neuromorphic engineering and machine learning techniques. By employing innovative algorithms and custom silicon designs, Westwell Lab aims to deliver adaptive and economical AI applications for various industries, including port control systems, smart mining, and medical analysis. The company’s biology-inspired approach seeks to advance the integration of neuromorphic systems into big data and embedded applications.

QST Corporation

Series B in 2020
QST Corporation, founded in September 2012 and based in Shanghai, China, specializes in the development and manufacturing of micro-electromechanical system (MEMS) sensors and smart applications for mobile consumer electronics and Internet of Things (IoT) devices. The company's product lineup includes 3-axis magnetic sensors, accelerometers, gyroscopes, barometers, pressure sensors, and light sensors, which are utilized in smartphones, tablets, wearables, drones, and virtual/augmented reality headsets. QST Corporation employs a virtual IDM model to leverage domestic industrial support, enabling it to customize intelligent applications and services for its clients. The company has experienced rapid growth since its inception, positioning itself as a key player in the sensor solutions market.

CF PharmTech

Series E in 2020
CF PharmTech, Inc. is a specialty pharmaceutical company based in Suzhou, China, focused on the development and manufacturing of inhalation products for the treatment of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and allergic rhinitis. Founded in 2007, the company offers a range of products including metered dose inhalers, dry powder inhalers, nasal sprays, and nebulizers. In addition to its product offerings, CF PharmTech provides contract manufacturing organization (CMO) services and is actively involved in research and development in its specialized field. The company aims to provide high-quality and affordable medicines to enhance patient care and management of respiratory conditions, catering to a global market. Its headquarters are strategically located in the Caohu District, ensuring convenient transportation access to major cities like Shanghai and Beijing.

360

Venture Round in 2020
360 is an internet and security service company that creates 360 Security Guard, 360 Mobile Guard, 360 Security Browser, and other security solutions. 360 is headquartered in Beijing, China and was founded in 2017.

DeepWise

Series C in 2019
Beijing DeepWise Science and Technology Co., Ltd. specializes in artificial intelligence-based medical application software aimed at enhancing clinical imaging analysis and diagnostics. Founded in 2017 and headquartered in Beijing, the company focuses on the early screening and diagnosis of various malignant diseases, including lung and breast cancer. It serves a diverse clientele, including hospitals, medical centers, and third-party imaging facilities. DeepWise's innovative software leverages advanced technology to improve diagnostic accuracy and efficiency, facilitating online consultations and data analysis through cloud-based solutions. By providing these services, DeepWise aims to support healthcare providers in both domestic and international markets in their efforts to detect and treat diseases effectively.

Innoviz Technologies

Series C in 2019
Innoviz Technologies Ltd. specializes in designing and manufacturing solid-state LiDAR sensors and perception software that facilitate the mass production of autonomous vehicles. The company offers InnovizPro, a solid-state LiDAR known for its exceptional performance and value, and InnovizOne, an automotive-grade LiDAR sensor that delivers advanced 3D sensing capabilities for various levels of autonomous driving (Levels 3 to 5). Innoviz's products also include solutions for object identification and tracking, sensor fusion, as well as mapping and localization. The company partners with a range of notable investors and strategic allies, enhancing its position in the industry. Founded in 2016 and headquartered in Rosh HaAyin, Israel, Innoviz Technologies aims to provide comprehensive solutions for original equipment manufacturers (OEMs) and Tier-1 suppliers involved in the development of autonomous vehicles, serving markets that include passenger cars, robotaxis, shuttles, delivery vehicles, and logistics.

Innoviz Technologies

Series C in 2019
Innoviz Technologies Ltd. specializes in designing and manufacturing solid-state LiDAR sensors and perception software that facilitate the mass production of autonomous vehicles. The company offers InnovizPro, a solid-state LiDAR known for its exceptional performance and value, and InnovizOne, an automotive-grade LiDAR sensor that delivers advanced 3D sensing capabilities for various levels of autonomous driving (Levels 3 to 5). Innoviz's products also include solutions for object identification and tracking, sensor fusion, as well as mapping and localization. The company partners with a range of notable investors and strategic allies, enhancing its position in the industry. Founded in 2016 and headquartered in Rosh HaAyin, Israel, Innoviz Technologies aims to provide comprehensive solutions for original equipment manufacturers (OEMs) and Tier-1 suppliers involved in the development of autonomous vehicles, serving markets that include passenger cars, robotaxis, shuttles, delivery vehicles, and logistics.

Sight Diagnostics

Series C in 2019
Sight Diagnostics Ltd. is a medical device company based in Tel Aviv, Israel, focused on advancing blood diagnostics through the integration of machine vision and artificial intelligence. The company has developed a platform that utilizes digital fluorescent microscopy and computer vision algorithms to diagnose various blood diseases. Its flagship product, Parasight, is designed for malaria detection and has been used in nearly one million tests across 24 countries, although it is not available for sale in the United States. Additionally, Sight Diagnostics has introduced the Sight OLO, a blood analyzer that requires only two drops of blood from a finger prick or venous sample to deliver lab-grade Complete Blood Count results within minutes. With a presence in the UK, the US, and Israel, Sight Diagnostics is expanding its commercial footprint across five continents, aiming to enhance healthcare through fast and accurate blood testing solutions.

Thousand Oaks Biopharmaceuticals

Series A in 2019
Thousand Oaks Biopharmaceuticals, Inc., established in 2017 and headquartered in Haimen, China, specializes in contract development and manufacturing services for the biotechnology industry. The company focuses on developing technologies to produce protein and vaccine compounds, offering integrated control solutions that optimize processes, increase protein expression, and reduce production scale. Thousand Oaks provides personalized, chemically defined cell culture media, formula production, technical support, and ancillary services to its clients in the biopharmaceutical sector.

Ping An Good Doctor

Series F in 2018
Ping An Health Internet is a wholly owned subsidiary of China Ping An Group, an important member of the Internet business segment/. It was established in August 2014 with 350 million yuan registered capital and is headquartered in Shanghai, China. Companies around the network of doctors, drug network and information network formed three product lines, involving online inquiry, a plurality of segments of the doctor-patient health care management, drug O2O, electronic health records, chronic disease management, child health services. Chinese company to the mobile Internet era medical wisdom of the leader as the goal, to create a user-stop health management solutions provider, China's largest Internet to build a healthy industry ecosystem. Ping An Health Internet also developed a children's health management and chronic disease management, and other vertical applications, to meet the needs of market segments. Reform the health care system combined with the trend, the company vigorously promote the integration of physician resources.

Fusion

Venture Round in 2018
Fusion is a high-tech enterprise company that specializes in new electronic and silver pastes. It also focuses on PV silver paste, filter paste, conductive adhesive, semiconductor, and 5G materials. In addition to the positive silver paste, the company is also actively developing other silver paste products for non-photovoltaic fields. Fusion was founded on August 2015 and is headquartered in Shanghai, China.

ShopeX

Series D in 2017
ShopEx is an e-commerce software and service provider based in China, specializing in the development of software solutions for retail merchants. The company offers a comprehensive suite of tools that facilitate online retail transactions, supply chain management, and financial payment processing. By integrating third-party resources, ShopEx enables retail store owners to effectively establish and grow their e-commerce businesses. With a focus on research and development, ShopEx boasts a professional team that has created proprietary technology and services, positioning itself as a leader in the e-commerce sector.

Banma Kuaipao

Series C in 2017
Banma Kuaipao develops a mobile application for freight transportation. It also operates mobile applications to book cabs and buses for travelling. Li Jia founded Banman Kuaipao in July 2015. Its headquarters is in Wuhan in China.

CooTek

Series D in 2017
CooTek is a global mobile internet company founded in 2008 and headquartered in Shanghai, with additional offices in locations such as Silicon Valley and Beijing. The company specializes in developing innovative mobile applications and artificial intelligence technology, aiming to enhance user expression and content engagement. Its flagship product, TouchPal Keyboard, offers a superior input experience for both Android and iPhone users. CooTek's portfolio includes a variety of content-rich applications across multiple categories, including online literature, mobile games, and scenario-based apps in areas such as fitness and healthcare. The company boasts a substantial user base, with its products achieving an average of 213.7 million monthly active users globally in 2018. CooTek is also committed to technology innovation, holding over 170 patents and operating a big data development center and AI lab in Silicon Valley. Additionally, the company actively contributes to academic discourse in the fields of big data and AI, with research presented at prestigious conferences.

Sight Diagnostics

Series B in 2016
Sight Diagnostics Ltd. is a medical device company based in Tel Aviv, Israel, focused on advancing blood diagnostics through the integration of machine vision and artificial intelligence. The company has developed a platform that utilizes digital fluorescent microscopy and computer vision algorithms to diagnose various blood diseases. Its flagship product, Parasight, is designed for malaria detection and has been used in nearly one million tests across 24 countries, although it is not available for sale in the United States. Additionally, Sight Diagnostics has introduced the Sight OLO, a blood analyzer that requires only two drops of blood from a finger prick or venous sample to deliver lab-grade Complete Blood Count results within minutes. With a presence in the UK, the US, and Israel, Sight Diagnostics is expanding its commercial footprint across five continents, aiming to enhance healthcare through fast and accurate blood testing solutions.

Zhaoxin

Venture Round in 2016
Shanghai Zhaoxin Semiconductor Co., Ltd. specializes in the design and manufacture of core processor chips, including central processing units, graphics processing units, and supporting chipsets. Established in 2013, the company is headquartered in Shanghai and has additional offices in major cities such as Beijing, Wuhan, Shenzhen, and Xi’an. Zhaoxin focuses on delivering high-performance and reliable general-purpose processors through independent innovation while maintaining compatibility with mainstream development routes. Utilizing advanced lithography processes, including 40nm and 28nm technologies, the company develops a range of intelligent terminal processor chips, notably the ARM Cortex AX series and various System on Chip (SoC) products within its Elite series.

KanS

Angel Round in 2015
KanS is a cosmetics company that specializes in consumer goods, particularly personal care. It is a scientific anti-aging skin care brand that specializes in Asian skin beauty. It uses scientific research to shape product strength and is committed to providing young consumers with Scientific and professional, precise and efficient skin anti-aging solutions. It is supported by dual scientific research laboratories in China and Japan, as well as a high-quality supply chain system.

UnionPay International

Venture Round in 2015
UnionPay International Co., Ltd. is a Shanghai-based subsidiary of China UnionPay that specializes in electronic payment services for cardholders and merchants both in China and globally. Established in 2012, the company offers a range of products including debit and credit cards, mobile and online payment solutions, chip cards, and mobile point-of-sale (mPOS) terminals. UnionPay International partners with over 300 institutions worldwide, enabling card acceptance in 148 countries and regions outside the Chinese mainland and facilitating card issuance in more than 30 locations. The company focuses on providing secure and cost-effective cross-border payment services, meeting the needs of the world's largest cardholder base while ensuring convenient local services for UnionPay cardholders and merchants.
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