Gaorong Capital

Gaorong Capital is a Beijing-based investment firm founded in 2013, specializing in early-stage investments primarily within the technology sector in the Asia-Pacific region. The firm targets various industries, including telecommunications, media, life sciences, cosmetics, and technology. Gaorong Capital manages multiple funds, such as the Gaorong RMB Fund I, which focuses on seed-stage startups and those preparing for initial public offerings on the Chinese A-share market. The investment firm is backed by a diverse group of prominent investors, including sovereign wealth funds, university endowments, family foundations, pension funds, and successful entrepreneurs from major companies like Tencent, Alibaba, Baidu, JD, and Xiaomi. This network provides Gaorong Capital with valuable industry resources, entrepreneurial expertise, and global insights, enhancing its capacity to support emerging ventures in the region.

Ming Fu

Analyst

Xiang Gao

Co-Founder and Partner

Han Rui

Partner

Bruce Lan

Senior Associate

Beilin Le

Managing Director

Xinhua Liu

Venture Partner

Xiaoyu Ma

Managing Director

Matthew Ma

Managing Director

Catherine Wang

Partner

Bin Yue

Co-Founder and Partner

Zhen Zhang

Founding Partner

Zicheng Zhao

Analyst

Tao ZHAO

Partner

Cheng (Bill) Zheng

Analyst

Congyang (Gloria) Sun

Analyst

Pei Lan (Iris)

Analyst

Past deals in B2C

BaiTube

Series B in 2023
BaiTube is a provider of Multi-Channel Network (MCN) services that focuses on short video content and live e-commerce. The company offers a range of services including short video development, live streaming for e-commerce, and brand marketing. BaiTube aims to support the growth of the social media and e-commerce sectors by helping clients connect with their target audiences through engaging video content. Additionally, the company specializes in the development of key opinion leaders (KOLs) and manages operations on platforms like TikTok, providing clients with diverse options for online marketing and enhancing their visibility in the digital landscape.

Bloks Technology Group

Series B in 2021
Bruco uses innovative technology to create the ultimate product experience and create long-term value for users. The group currently has four core business segments, including Bruker Building Blocks, Bruker Animation, Bubble Education, and Brock Education. Bruco strives to create a whole ecological industry chain with "building blocks +" as the core, and at the same time applies to build blocks to various application scenarios, and lays out a complete T (Toy toy) + A (Animation animation) + G (Game game) +E (Education Education) industry vision.

Bloks Technology Group

Series A in 2020
Bruco uses innovative technology to create the ultimate product experience and create long-term value for users. The group currently has four core business segments, including Bruker Building Blocks, Bruker Animation, Bubble Education, and Brock Education. Bruco strives to create a whole ecological industry chain with "building blocks +" as the core, and at the same time applies to build blocks to various application scenarios, and lays out a complete T (Toy toy) + A (Animation animation) + G (Game game) +E (Education Education) industry vision.

Bebebus

Series A in 2020
Bebebus Technology is a technology and innovation-driven brand company that offers mother and baby trendy products. It established its brand bebebus in 2018. Driven by technology and innovation, it has built a new-generation mother and baby fashion lifestyle brand. Its four core product lines are baby strollers, child safety seats, cribs, and baby dining chairs.

Mockuai

Series C in 2020
Mockuai is a company positioned itself as an e-commerce Software-as-a-Service (SaaS) provider for key accounts.

Benlai

Series D in 2019
Beijing Benlai Workshop Technology Co., Ltd. sells vegetables and fruits through online platform in China. It provides products, such as meats, poultry products, seafood, dairy products, snacks, cooked noodles, grain and oil non staples, beverages, and kitchen supplies. The company also operates additional warehouses in Beijing, Shanghai, and Guangzhou, China; and temperature controlled logistics supply centers throughout China. Beijing Benlai Workshop Technology Co., Ltd. was founded in 2012 and is headquartered in Beijing, China.

Oscart

Seed Round in 2019
Oscart is a social e-commerce start-up focusing on fine products. Our beauty platform - Botiga Beauty is with one sole purpose, to bring consumers the BEST high-quality beauty products in the market. Our whole company is structured with the well being of the consumer in mind. We partner with top-rated beauty brands around the world to bring you high quality products backed by science. Our management team includes e-commerce veterans who have 15 years’ experience, social e-commerce pioneers with proven success record and world-class buyers who possess business acumen. We have secured a $10M-level round of angel funding led by Gaorong Capital & Matrix Partners.

Beidian

Series A in 2019
Beidian operates as an innovative e-commerce platform that connects consumers, shop owners, and suppliers, offering a diverse range of products including home goods, clothing, food, beauty items, and products for mothers and babies. Unlike traditional e-commerce platforms, Beidian emphasizes social sharing among users, fostering a three-way connection that enhances the shopping experience. The company adheres to a source supply chain model, collaborating closely with numerous high-quality brands, source factories, and agricultural bases worldwide. This approach ensures that consumers have access to premium products at competitive prices, allowing them to purchase better goods while spending less.

Coffee Box

Series B in 2019
Coffee Box is a coffee chain that focuses on making coffee more accessible for consumers on the go. The company operates local coffee stores equipped with convenient stations for quick service. Additionally, Coffee Box offers online ordering and efficient delivery services, ensuring that customers can enjoy their coffee wherever they are.

Familyone

Series A in 2019
Familyone is a community community platform, positioned as "good goods are not expensive", and separated from the low-cost strategy area. Select high-quality and good goods, continuously improve the efficiency of the supply chain, and achieve the ultimate cost performance.

Xuanhaohuo

Series A in 2018
Xuanhaohuo is an E-commerce company.

Xuanhaohuo

Seed Round in 2018
Xuanhaohuo is an E-commerce company.

Familyone

Seed Round in 2018
Familyone is a community community platform, positioned as "good goods are not expensive", and separated from the low-cost strategy area. Select high-quality and good goods, continuously improve the efficiency of the supply chain, and achieve the ultimate cost performance.

Dingdong Maicai

Series A in 2018
Dingdong Maicai is a rapidly growing online retail platform based in Shanghai, China, specializing in the sale of fresh produce and daily necessities. Founded in 2014, the company leverages a big data-driven approach to optimize its operations and improve customer experience. By utilizing self-developed data models and historical sales data, Dingdong Maicai predicts future orders, which helps reduce waste and ensure product availability. The platform offers a wide range of products, including fresh vegetables, seafood, meat, fruits, and organic items. Customers can conveniently shop through the Dingdong Fresh app and mini-programs, which facilitate direct delivery to households. The company generates revenue primarily through the sale of these fresh groceries and membership services, establishing itself as a key player in the community-based e-commerce sector in China.

Dingdong Maicai

Series A in 2018
Dingdong Maicai is a rapidly growing online retail platform based in Shanghai, China, specializing in the sale of fresh produce and daily necessities. Founded in 2014, the company leverages a big data-driven approach to optimize its operations and improve customer experience. By utilizing self-developed data models and historical sales data, Dingdong Maicai predicts future orders, which helps reduce waste and ensure product availability. The platform offers a wide range of products, including fresh vegetables, seafood, meat, fruits, and organic items. Customers can conveniently shop through the Dingdong Fresh app and mini-programs, which facilitate direct delivery to households. The company generates revenue primarily through the sale of these fresh groceries and membership services, establishing itself as a key player in the community-based e-commerce sector in China.

Lingshouke.cn

Series A in 2018
Lingshouke.cn is a Beijing-based company that specializes in the publication of online retail news and industry-specific information. It offers original business reports and in-depth production news, catering to professionals and stakeholders within the retail and entertainment sectors. By providing timely and relevant content, Lingshouke.cn aims to keep its audience informed about the latest trends and developments in the market.

Bomao Catering

Series A in 2018
Bomao Catering is a restaurant chain based in Chongqing, China.

Caibeike

Series A in 2018
An online travel service provider based in Shanghai,China.

Dingdong Maicai

Seed Round in 2018
Dingdong Maicai is a rapidly growing online retail platform based in Shanghai, China, specializing in the sale of fresh produce and daily necessities. Founded in 2014, the company leverages a big data-driven approach to optimize its operations and improve customer experience. By utilizing self-developed data models and historical sales data, Dingdong Maicai predicts future orders, which helps reduce waste and ensure product availability. The platform offers a wide range of products, including fresh vegetables, seafood, meat, fruits, and organic items. Customers can conveniently shop through the Dingdong Fresh app and mini-programs, which facilitate direct delivery to households. The company generates revenue primarily through the sale of these fresh groceries and membership services, establishing itself as a key player in the community-based e-commerce sector in China.

Poizon

Series A in 2018
POIZON was launched by Shanghai Shizhuang Information Technology Co., Ltd. in 2015. It's China's largest sneaker trading platform, which has an annual GMV of $10 billion and a monthly active user of over 1.4 million in 2019. Through the C2B2C model, POIZON acts as a platform to connect buyers and sellers, providing authentication service for users and ensuring all products purchased are genuine.

PDD Holdings

Series D in 2018
PDD Holdings (Nasdaq: PDD) is a multinational commerce group that owns and operates a portfolio of businesses. PDD Holdings aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from the increased productivity and new opportunities. PDD Holdings has built a network of sourcing, logistics, and fulfillment capabilities, that support its underlying businesses.

Coffee Box

Series B in 2018
Coffee Box is a coffee chain that focuses on making coffee more accessible for consumers on the go. The company operates local coffee stores equipped with convenient stations for quick service. Additionally, Coffee Box offers online ordering and efficient delivery services, ensuring that customers can enjoy their coffee wherever they are.

QianbaoCard

Series B in 2017
QianbaoCard is a Shanghai-based start-up that offers financial services tailored for local merchants and consumers. It operates as a comprehensive online-to-offline (O2O) platform, focusing on enhancing local life services. The company provides merchants with smart point-of-sale (POS) systems that facilitate digital payments, alongside credit and marketing solutions. By integrating these services, QianbaoCard aims to create a seamless consumption experience for local businesses and consumers, fostering a consumer service ecosystem that emphasizes preferential offerings and accessibility in local life services.

Pinduoduo

Series C in 2017
Pinduoduo operates an e-commerce platform in China, allowing users to engage in group buying deals primarily through Tencent's WeChat app. Founded in 2015 and headquartered in Shanghai, Pinduoduo offers a diverse range of products including apparel, electronics, household goods, and food items. The platform aims to facilitate access to the digital economy for local communities and small businesses, enhancing productivity and creating new opportunities. Pinduoduo has developed a robust network of sourcing, logistics, and fulfillment capabilities to support its operations and improve customer experience.

Baiwancang

Angel Round in 2016
Baiwancang is a B2B e-commerce platform based in China that specializes in industrial products and electronics. It connects businesses with quality products and merchants within the industrial sector, offering a comprehensive service that integrates both online and offline elements. The platform aims to enhance the procurement strategies of purchasing enterprises by focusing on reducing costs, improving efficiency, and facilitating online purchasing. Through its services, Baiwancang provides personalized support to help procurement companies navigate their purchasing needs effectively.

PDD Holdings

Series B in 2016
PDD Holdings (Nasdaq: PDD) is a multinational commerce group that owns and operates a portfolio of businesses. PDD Holdings aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from the increased productivity and new opportunities. PDD Holdings has built a network of sourcing, logistics, and fulfillment capabilities, that support its underlying businesses.

DotC United Group

Series A in 2016
DotC United Group creates and architects internet platforms to simplify globalization complexities. Their mission is to connect users from different countries and better their lives with state-of-the-art technologies.

BeiBei

Series D in 2016
BeiBei Group, founded in 2011 and based in Hangzhou, China, operates an e-commerce platform specializing in maternal and infant products. The company offers a wide range of everyday discount sales for women's and children's clothing, accessories, diapers, household goods, and toys. BeiBei aims to position itself as a leading technology retail platform, leveraging the expertise of its founding team, which has roots in Alibaba. The company has attracted significant venture capital investment from prominent firms, further supporting its growth in the competitive e-commerce sector.

PDD Holdings

Series A in 2015
PDD Holdings (Nasdaq: PDD) is a multinational commerce group that owns and operates a portfolio of businesses. PDD Holdings aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from the increased productivity and new opportunities. PDD Holdings has built a network of sourcing, logistics, and fulfillment capabilities, that support its underlying businesses.

Misuland

Angel Round in 2015
Operator of a B2B IT project docking and trading platform. The company's platform provides e-commerce transaction services for a number of products in software development, website construction, mobile application and system integration, allowing enterprises to outsource software development projects through the platform.

Guanmai Technology

Series A in 2015
Guanmai Technology is currently the leading SaaS company in the B2B field of fresh food in China. Guanmai, formerly a fresh delivery company for small farmers and girls , has served nearly 30,000 restaurant companies in Guangdong. In 2014-16, it has deeply practiced the B2B business of food distribution, and has accumulated rich experience and industry knowledge of B2B food distribution.

BeiBei

Series C in 2015
BeiBei Group, founded in 2011 and based in Hangzhou, China, operates an e-commerce platform specializing in maternal and infant products. The company offers a wide range of everyday discount sales for women's and children's clothing, accessories, diapers, household goods, and toys. BeiBei aims to position itself as a leading technology retail platform, leveraging the expertise of its founding team, which has roots in Alibaba. The company has attracted significant venture capital investment from prominent firms, further supporting its growth in the competitive e-commerce sector.

BeiBei

Series B in 2014
BeiBei Group, founded in 2011 and based in Hangzhou, China, operates an e-commerce platform specializing in maternal and infant products. The company offers a wide range of everyday discount sales for women's and children's clothing, accessories, diapers, household goods, and toys. BeiBei aims to position itself as a leading technology retail platform, leveraging the expertise of its founding team, which has roots in Alibaba. The company has attracted significant venture capital investment from prominent firms, further supporting its growth in the competitive e-commerce sector.

Mizhe.com

Series B in 2014
Mizhe.com is an e-commerce platform based in Hangzhou, China, that specializes in offering discounts to shoppers on various Chinese e-commerce sites. Founded in August 2011, the company collaborates with over 600 online retailers, including well-known platforms like Tmall and Dangdang. Mizhe.com provides a user-friendly shopping guide that utilizes referral links to direct customers to larger e-commerce sites such as Taobao and Amazon China. Shoppers can access discounts of up to 50 percent on their purchases and find additional coupons through Miquan.com, a site similar to Groupon. With millions of registered users and hundreds of thousands of active daily shoppers, Mizhe.com reportedly generates over 100 million RMB in sales annually. The company received a significant investment from IDG Capital Partners during its Series A funding round in 2012.

Benlai

Series A in 2014
Beijing Benlai Workshop Technology Co., Ltd. sells vegetables and fruits through online platform in China. It provides products, such as meats, poultry products, seafood, dairy products, snacks, cooked noodles, grain and oil non staples, beverages, and kitchen supplies. The company also operates additional warehouses in Beijing, Shanghai, and Guangzhou, China; and temperature controlled logistics supply centers throughout China. Beijing Benlai Workshop Technology Co., Ltd. was founded in 2012 and is headquartered in Beijing, China.
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