IDG Capital

work with private equity and venture capital fund managers, investment advisors and business entities from around the world.

Guangfu Cui

Partner

Qiang Dai

MD

Jun Fang

Investor Relations Director

Mei Gao

Partner

Young Guo

Partner

Simon Ho

CFO

Jianguang Li

Partner

Meng Lian

Partner

Dongliang Lin

Partner

Yikun Liu

Partner

Richard L. Schmalensee

Director

Chen Tong

Vice President

Xin Wang

Legal Counsel

Fei Yang

Director of IPO Division

Jin Yu

Partner

Xinhua Yu

Team Member

Ping Zhai

Partner

Jianbin Zhang

Venture Partner

Sai Zhang

Executive Director

Qiuyue Zhong

Partner

Quan Zhou

Managing Partner

Past deals in FMCG

Pupumall

Venture Round in 2021
Pupumall develops a platform for instant delivery of fresh produce that covers a broad range of products from supermarkets. Its platform helps individual customers place grocery orders online and connect surrounding riders to achieve instant delivery, creating more efficient warehousing and distribution solutions for vendors while providing consumers with more convenient grocery shopping services.

Wenheyou

Series B in 2021
Wenheyou operates a range of food and beverage brands.

Funiutang

Series C in 2021
Baman Beef Powder, fka Funiutang or F.N.T , is an O2O brand that specializes in Hunan beef noodles and instant beef powder. The company sells its products online and operates restaurants in Beijing.

Cider

Series A in 2021
Cider is a direct-to-consumer (DTC) e-commerce platform focusing on overseas markets. Its innovative approach to building community, reducing inventory waste, and shipping anywhere has made it a new favorite for a generation of digitally native consumers. By integrating a pre-order option and educating the customer on the possibility of a zero-inventory future, Cider’s retail model is actively reducing the waste that often accompanies accessible fashion — without having to sacrifice affordability. It was founded in 2020 and is based in Hong Kong.

Wenheyou

Series A in 2021
Wenheyou operates a range of food and beverage brands.

Bizongo

Series C in 2021
Bizongo is an innovative online B2B marketplace catering to the diverse packaging and material handling industries. It makes packaging sourcing, distribution, inventory management, and design hassle-free for enterprises. The company's automated supply chain platform ensures availability of packaging for business with lower inventory. It addresses challenges such as inventory stock out, excess inventory, and obsolescence that are common for enterprises. Bizongo was founded in 2015 by Aniket Deb, Ankit Tomar, and Sachin Agrawal and is headquartered in Mumbai, Maharashtra, India.

DMALL

Series C in 2020
Dmall(Beijing)E-commerce Co.,Ltd designs and develops mobile application for selection and delivery of goods from supermarket. The application detects the user’s location and shows the stock of supermarkets which are in range. Dmall(Beijing)E-commerce Co.,Ltd was founded in 2015 and is based in Beijing, China.

Cider

Angel Round in 2020
Cider is a direct-to-consumer (DTC) e-commerce platform focusing on overseas markets. Its innovative approach to building community, reducing inventory waste, and shipping anywhere has made it a new favorite for a generation of digitally native consumers. By integrating a pre-order option and educating the customer on the possibility of a zero-inventory future, Cider’s retail model is actively reducing the waste that often accompanies accessible fashion — without having to sacrifice affordability. It was founded in 2020 and is based in Hong Kong.

Guoquan Shihui

Series C in 2020
Zhengzhou Guoquan Shihui Network Technology Co., Ltd. sells pre-packaged hotpot ingredients and condiments through the retail stores. The company offers barbecue ingredients, including frozen and fresh produce products, snacks, hotpot condiments, dipping sauces, and beverages. It also operates stock keeping units (SKUs); and provides warehousing and logistics services for food products. In addition, the company sells products through an online platform. The company was founded in 2015 and is based in Shanghai, China.

Guoquan Shihui

Series B in 2020
Zhengzhou Guoquan Shihui Network Technology Co., Ltd. sells pre-packaged hotpot ingredients and condiments through the retail stores. The company offers barbecue ingredients, including frozen and fresh produce products, snacks, hotpot condiments, dipping sauces, and beverages. It also operates stock keeping units (SKUs); and provides warehousing and logistics services for food products. In addition, the company sells products through an online platform. The company was founded in 2015 and is based in Shanghai, China.

GirlCult

Series A in 2019
GirlCult is a stylized national tide makeup brand. It mainly focuses on the post-90s and post-95s crowds. The current product line covers eye shadow, lip glaze, blush, highlights, and other cosmetic categories. Girlcult focuses on avant-garde "stylization" of visual design Label, the first product "Sunlight Allure", has launched a series of products such as gorgeous rock, religious legends, emotional blush, dream highlights

Freemud

Series B in 2019
Shanghai Freemud Network Technology Co., Ltd. is a provider of internet-based solutions catering to the retail, restaurant, and fast-moving consumer goods industries. Founded in 2014 and based in Shanghai, the company specializes in online food and beverage solutions, omni-channel e-commerce, and a smart retail support system. Freemud offers a mobile payment platform that enables businesses to efficiently process transactions, manage promotions, and integrate with third-party delivery services. Through its comprehensive digital payment solutions, Freemud aims to enhance operational efficiency for stores and facilitate seamless customer experiences.

T11 Food Market

Series A in 2019
T11 Food Market offers grocery stores.

Jusda

Series A in 2019
JUSDA, a service platform of supply chain management for Foxconn Technology Group and a pilot in integrating C2C (Component to Consumer) supply chain services around the world, is committed to driving professionalism and growth of supply chain management by advanced technology and R&D. The company applies an innovative business model that covers trading flow, goods flow, information flow, capital flow, technology flow and process flow.

Freemud

Series A in 2018
Shanghai Freemud Network Technology Co., Ltd. is a provider of internet-based solutions catering to the retail, restaurant, and fast-moving consumer goods industries. Founded in 2014 and based in Shanghai, the company specializes in online food and beverage solutions, omni-channel e-commerce, and a smart retail support system. Freemud offers a mobile payment platform that enables businesses to efficiently process transactions, manage promotions, and integrate with third-party delivery services. Through its comprehensive digital payment solutions, Freemud aims to enhance operational efficiency for stores and facilitate seamless customer experiences.

ShengXianChuanQi

Series B in 2018
Shengxianchuanqi is a fresh food chain supermarket that mainly provides customers with fresh food and kitchen merchandise.

Letus Legend

Series B in 2018
Letus Legend operates a chain of supermarkets that sell fresh food and kitchen supplies. The company also operates an application to sell its products and offers home delivery services. Letus Legend was founded in 2015 and is headquartered in Hefei, China.

T11 Food Market

Angel Round in 2018
T11 Food Market offers grocery stores.

Club Factory

Series C in 2018
Club Factory operates an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. The company utilizes big data and artificial intelligence to scan the internet for factories selling products on major platforms like Wish, eBay, and Amazon, allowing it to compare prices from multiple sources. This approach enables Club Factory to present customers with the most competitive pricing options. In addition to enhancing the shopping experience for consumers, the platform also offers supply chain management solutions for enterprises, thereby streamlining the process of purchasing goods at lower prices.

Mobile Go

Series A in 2018
A startup company placing snack boxes in cabs.

Guoxiaomei

Series C in 2017
Guoxiaomei is a self-service smart shelf business operator that places snack bars in corporate offices, including Alibaba, China Telecom, Focus Media, and Tencent.

Guoxiaomei

Series A in 2017
Guoxiaomei is a self-service smart shelf business operator that places snack bars in corporate offices, including Alibaba, China Telecom, Focus Media, and Tencent.

Guoxiaomei

Series A in 2017
Guoxiaomei is a self-service smart shelf business operator that places snack bars in corporate offices, including Alibaba, China Telecom, Focus Media, and Tencent.

Mashang Consumer Finance

Series B in 2017
Mashang Consumer Finance Co., Ltd is a licensed financial institution by CBIRC (China Banking and Insurance Regulatory Commission). It officially opened in June, 2015, with a uniquely diverse and empowering shareholder structure that consists of SOEs such as CBEST and Bank of Chongqing, as well as civil entities like Wu-Mart, Sunshine Insurance Group and China Commodities City Group. It completed 3 rounds of expansion and financing in 2016, 2017 and 2018 in a line. The registered capital reaches 4 billion RMB.

Guoxiaomei

Angel Round in 2017
Guoxiaomei is a self-service smart shelf business operator that places snack bars in corporate offices, including Alibaba, China Telecom, Focus Media, and Tencent.

Fastly

Series E in 2017
Fastly operates an edge cloud platform that processes, serves, and secures applications for its customers. This platform is designed to enhance the delivery of digital experiences by enabling developers to build and manage applications closer to end-users, thereby improving speed and reliability. Fastly's approach differs from traditional content delivery networks (CDNs) by focusing on fewer, strategically located servers in network-dense data centers, allowing for dynamic content delivery and edge computing capabilities. Founded in 2011 and headquartered in San Francisco, Fastly serves a diverse range of industries, including digital publishing, media and entertainment, technology, online retail, travel, and financial services. The company is committed to helping businesses meet customer expectations through fast, secure, and scalable online experiences.

DMALL

Series A in 2017
Dmall(Beijing)E-commerce Co.,Ltd designs and develops mobile application for selection and delivery of goods from supermarket. The application detects the user’s location and shows the stock of supermarkets which are in range. Dmall(Beijing)E-commerce Co.,Ltd was founded in 2015 and is based in Beijing, China.

AFU

Series B in 2017
AFU is a brand of essential oil.

Club Factory

Series B in 2017
Club Factory operates an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. The company utilizes big data and artificial intelligence to scan the internet for factories selling products on major platforms like Wish, eBay, and Amazon, allowing it to compare prices from multiple sources. This approach enables Club Factory to present customers with the most competitive pricing options. In addition to enhancing the shopping experience for consumers, the platform also offers supply chain management solutions for enterprises, thereby streamlining the process of purchasing goods at lower prices.

Bizongo

Series A in 2016
Bizongo is an innovative online B2B marketplace catering to the diverse packaging and material handling industries. It makes packaging sourcing, distribution, inventory management, and design hassle-free for enterprises. The company's automated supply chain platform ensures availability of packaging for business with lower inventory. It addresses challenges such as inventory stock out, excess inventory, and obsolescence that are common for enterprises. Bizongo was founded in 2015 by Aniket Deb, Ankit Tomar, and Sachin Agrawal and is headquartered in Mumbai, Maharashtra, India.

FXiaoKe

Series E in 2016
FXiaoKe is a Beijing-based company that specializes in cloud-based sales management solutions for Chinese businesses, particularly targeting small and medium-sized enterprises. Established in December 2011 by Luo Xu, the company provides a comprehensive platform that integrates field operation management, distribution chain management, and customer relationship management. FXiaoKe's software enables businesses to enhance their sales processes through a social interaction platform that merges features of dynamic customer relationship management with capabilities akin to enterprise WeChat. The platform supports collaboration across various sectors, including high-tech industries, corporate services, fast-moving consumer goods, agriculture, and large-scale manufacturing, facilitating efficient marketing, sales, and service operations. Additionally, FXiaoKe offers online office automation services that allow seamless information sharing between personal computers and smartphones, further enhancing customer management.

Fastly

Series D in 2015
Fastly operates an edge cloud platform that processes, serves, and secures applications for its customers. This platform is designed to enhance the delivery of digital experiences by enabling developers to build and manage applications closer to end-users, thereby improving speed and reliability. Fastly's approach differs from traditional content delivery networks (CDNs) by focusing on fewer, strategically located servers in network-dense data centers, allowing for dynamic content delivery and edge computing capabilities. Founded in 2011 and headquartered in San Francisco, Fastly serves a diverse range of industries, including digital publishing, media and entertainment, technology, online retail, travel, and financial services. The company is committed to helping businesses meet customer expectations through fast, secure, and scalable online experiences.

FXiaoKe

Series D in 2015
FXiaoKe is a Beijing-based company that specializes in cloud-based sales management solutions for Chinese businesses, particularly targeting small and medium-sized enterprises. Established in December 2011 by Luo Xu, the company provides a comprehensive platform that integrates field operation management, distribution chain management, and customer relationship management. FXiaoKe's software enables businesses to enhance their sales processes through a social interaction platform that merges features of dynamic customer relationship management with capabilities akin to enterprise WeChat. The platform supports collaboration across various sectors, including high-tech industries, corporate services, fast-moving consumer goods, agriculture, and large-scale manufacturing, facilitating efficient marketing, sales, and service operations. Additionally, FXiaoKe offers online office automation services that allow seamless information sharing between personal computers and smartphones, further enhancing customer management.

DMALL

Angel Round in 2015
Dmall(Beijing)E-commerce Co.,Ltd designs and develops mobile application for selection and delivery of goods from supermarket. The application detects the user’s location and shows the stock of supermarkets which are in range. Dmall(Beijing)E-commerce Co.,Ltd was founded in 2015 and is based in Beijing, China.

FirstCry

Series D in 2015
FirstCry is an online portal for baby products and toys. They have over 20000+ items from 250+ top International and Indian brands like Mattel, Ben10, Pigeon, Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber, Zapak, Mee Mee, and so on. The company provides best of the products and brands at the best prices with quality online shopping experience, fast and reliable delivery service, and a prompt customer care. FirstCry was founded in 2010 and is based in Pune, India.

FXiaoKe

Series C in 2014
FXiaoKe is a Beijing-based company that specializes in cloud-based sales management solutions for Chinese businesses, particularly targeting small and medium-sized enterprises. Established in December 2011 by Luo Xu, the company provides a comprehensive platform that integrates field operation management, distribution chain management, and customer relationship management. FXiaoKe's software enables businesses to enhance their sales processes through a social interaction platform that merges features of dynamic customer relationship management with capabilities akin to enterprise WeChat. The platform supports collaboration across various sectors, including high-tech industries, corporate services, fast-moving consumer goods, agriculture, and large-scale manufacturing, facilitating efficient marketing, sales, and service operations. Additionally, FXiaoKe offers online office automation services that allow seamless information sharing between personal computers and smartphones, further enhancing customer management.

Fastly

Series C in 2014
Fastly operates an edge cloud platform that processes, serves, and secures applications for its customers. This platform is designed to enhance the delivery of digital experiences by enabling developers to build and manage applications closer to end-users, thereby improving speed and reliability. Fastly's approach differs from traditional content delivery networks (CDNs) by focusing on fewer, strategically located servers in network-dense data centers, allowing for dynamic content delivery and edge computing capabilities. Founded in 2011 and headquartered in San Francisco, Fastly serves a diverse range of industries, including digital publishing, media and entertainment, technology, online retail, travel, and financial services. The company is committed to helping businesses meet customer expectations through fast, secure, and scalable online experiences.

Funiutang

Angel Round in 2014
Baman Beef Powder, fka Funiutang or F.N.T , is an O2O brand that specializes in Hunan beef noodles and instant beef powder. The company sells its products online and operates restaurants in Beijing.

Womai

Series B in 2014
Womai Co., Ltd. owns and operates an online food retailing platform in China. The company offers imported food, fresh fruits and vegetables, grain and oil rice noodles, local specialties, snack food, brewed drinks, biscuit cakes, baby food, alcohol, and tea. It was founded in 2008 and is based in Beijing, China. Womai Co., Ltd. operates as a subsidiary COFCO Corporation. Womai Co., Ltd. operates as a subsidiary of COFCO Corporation

FXiaoKe

Series B in 2014
FXiaoKe is a Beijing-based company that specializes in cloud-based sales management solutions for Chinese businesses, particularly targeting small and medium-sized enterprises. Established in December 2011 by Luo Xu, the company provides a comprehensive platform that integrates field operation management, distribution chain management, and customer relationship management. FXiaoKe's software enables businesses to enhance their sales processes through a social interaction platform that merges features of dynamic customer relationship management with capabilities akin to enterprise WeChat. The platform supports collaboration across various sectors, including high-tech industries, corporate services, fast-moving consumer goods, agriculture, and large-scale manufacturing, facilitating efficient marketing, sales, and service operations. Additionally, FXiaoKe offers online office automation services that allow seamless information sharing between personal computers and smartphones, further enhancing customer management.

MOGU

Series D in 2014
MOGU is an consumer platform aimed towards women, achieved through e-commerce, social media, influencers and content driven services. Their content covers all areas of the fashion world and they have a huge range of age groups and interest covered through their numerous apps and platform. MOGU Inc. is a destination of fashion. With various kinds of fashion content and abundant fashion products, MOGU Inc. allows people to discover and share fashion trends while fully enjoying high-quality shopping experience. In 2011, MOGU Inc. launched fashion platform under the Mogujie brand . In 2016, the merger of Mogujie and Meilishuo was completed.Currently, MOGU Inc.'s online platform includes Mogujie.com and Meilishuo.com websites, mogujie mobile app, Meilishuo mobile app, Uni mobile app and several WeChat Mini programs.

FXiaoKe

Series A in 2013
FXiaoKe is a Beijing-based company that specializes in cloud-based sales management solutions for Chinese businesses, particularly targeting small and medium-sized enterprises. Established in December 2011 by Luo Xu, the company provides a comprehensive platform that integrates field operation management, distribution chain management, and customer relationship management. FXiaoKe's software enables businesses to enhance their sales processes through a social interaction platform that merges features of dynamic customer relationship management with capabilities akin to enterprise WeChat. The platform supports collaboration across various sectors, including high-tech industries, corporate services, fast-moving consumer goods, agriculture, and large-scale manufacturing, facilitating efficient marketing, sales, and service operations. Additionally, FXiaoKe offers online office automation services that allow seamless information sharing between personal computers and smartphones, further enhancing customer management.

MOGU

Series C in 2012
MOGU is an consumer platform aimed towards women, achieved through e-commerce, social media, influencers and content driven services. Their content covers all areas of the fashion world and they have a huge range of age groups and interest covered through their numerous apps and platform. MOGU Inc. is a destination of fashion. With various kinds of fashion content and abundant fashion products, MOGU Inc. allows people to discover and share fashion trends while fully enjoying high-quality shopping experience. In 2011, MOGU Inc. launched fashion platform under the Mogujie brand . In 2016, the merger of Mogujie and Meilishuo was completed.Currently, MOGU Inc.'s online platform includes Mogujie.com and Meilishuo.com websites, mogujie mobile app, Meilishuo mobile app, Uni mobile app and several WeChat Mini programs.

FClub

Series C in 2012
Fclub.cn is a Chinese flash sale website that offers clothing, shoes, jewelry, bags, and accessories at discounted prices. A Chinese fashion brand, Fclub.cn has partnered with many world famous fashion groups, especially in Western countries, to build a supply platform that aims to offer all kinds of discounted products. Fclub.cn was founded by FGROUP LIMITED in 2009 and is now managed by Fclub E-Commerce Company. The company secured US$30 million in series B funding led by IGC, along with IDG Capital, Zero2IPO Capital, and SK Capital.

FClub

Series B in 2012
Fclub.cn is a Chinese flash sale website that offers clothing, shoes, jewelry, bags, and accessories at discounted prices. A Chinese fashion brand, Fclub.cn has partnered with many world famous fashion groups, especially in Western countries, to build a supply platform that aims to offer all kinds of discounted products. Fclub.cn was founded by FGROUP LIMITED in 2009 and is now managed by Fclub E-Commerce Company. The company secured US$30 million in series B funding led by IGC, along with IDG Capital, Zero2IPO Capital, and SK Capital.

FirstCry

Series B in 2012
FirstCry is an online portal for baby products and toys. They have over 20000+ items from 250+ top International and Indian brands like Mattel, Ben10, Pigeon, Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber, Zapak, Mee Mee, and so on. The company provides best of the products and brands at the best prices with quality online shopping experience, fast and reliable delivery service, and a prompt customer care. FirstCry was founded in 2010 and is based in Pune, India.

China Outfitters Holdings

Venture Round in 2010
China Outfitters Holdings Limited is a rapidly expanding company specializing in the design, production, marketing, and sales of apparel in China, with a particular emphasis on menswear. The company provides a diverse selection of men's casual wear, including smart casual, outdoor leisure, and accessories, targeting middle- and high-income consumers. It operates under several internationally recognized brands, including licensed offerings from the Santa Barbara Polo & Racquet Club. Through its extensive product range, the company aims to meet the evolving fashion needs of its clientele in the competitive apparel market.

DangDang

Series C in 2006
DangDang Inc. is a prominent business-to-consumer e-commerce company based in Beijing, China, established in 1999. Initially focusing on online book sales, it became a leading book retailer in the country, offering a wide selection of approximately 930,000 books and media products. Over the years, DangDang expanded its offerings to include a diverse range of general merchandise, such as beauty and personal care items, home and lifestyle products, apparel, and consumer electronics. The company operates a marketplace program that allows third-party merchants to sell their products on its platform, presenting customers with a total of over 113,000 stock keeping units of merchandise. With a robust logistics network comprising 19 fulfillment centers, DangDang ensures efficient delivery services across the nation, catering to a large and growing customer base.

DangDang

Series A in 2000
DangDang Inc. is a prominent business-to-consumer e-commerce company based in Beijing, China, established in 1999. Initially focusing on online book sales, it became a leading book retailer in the country, offering a wide selection of approximately 930,000 books and media products. Over the years, DangDang expanded its offerings to include a diverse range of general merchandise, such as beauty and personal care items, home and lifestyle products, apparel, and consumer electronics. The company operates a marketplace program that allows third-party merchants to sell their products on its platform, presenting customers with a total of over 113,000 stock keeping units of merchandise. With a robust logistics network comprising 19 fulfillment centers, DangDang ensures efficient delivery services across the nation, catering to a large and growing customer base.