Hillhouse Investment Group

Hillhouse Investment Group, founded in 2005 and headquartered in Hong Kong, is a private equity firm that specializes in a wide range of investments, from seed funding to buyouts and listed equities. The firm primarily focuses on opportunities in Asia but also selectively invests in North America and Europe. Hillhouse’s investment strategy is stage-agnostic, allowing it to invest in companies at various stages of growth, from startups to established public entities. Its portfolio spans several sectors, including consumer, technology, media, telecommunications, healthcare, energy transition, and advanced manufacturing. In healthcare, Hillhouse emphasizes biotechnology, medical devices, and pharmaceuticals. The firm is recognized for its commitment to independent research and employs sector experts to guide its investment decisions, aiming for long-term results rather than short-term gains.

David Rhee

Partner

Michael Yi

Partner

Past deals in Series C

ShadowBot

Series C in 2022
ShadowBot develops a software robot that performs repetitive online tasks. The software robot simulates various operations of humans and performs operations such as mouse clicks, keyboard input, and reading information on any applications, enabling enterprises to improve efficiency and productivity.

Yingsheng Biology

Series C in 2022
Shandong Yingsheng Biotechnology Co., Ltd., established in 2009 and based in Jinan, China, specializes in the development and production of in vitro diagnostic reagents and medical equipment. The company focuses on molecular diagnostic techniques applicable to maternal and child health, neonatal genetic diseases, metabolic diseases, and birth defects. Yingsheng offers a diverse product line that includes 45 innovative screening reagents for genetic metabolic diseases, 14 reagents for vitamin determination, and advanced detection systems such as a mass spectrometer automatic intelligent processing platform and ultra-high performance liquid chromatography tandem mass spectrometry. These products facilitate early detection of genetic conditions and support disease prevention, contributing to improved human health outcomes.

Qmai.cn

Series C in 2022
Qmai.cn is an enterprise services company based in Hefei that specializes in developing a business management platform tailored for retailers and chain store operators. The platform offers a range of operational solutions, including enterprise smart retail features, digital store operations, and payment acquiring services. By providing these tools, Qmai.cn enables retailers to enhance user connections and streamline their operations through digitalization.

Fenbeitong

Series C in 2022
Fenbeitong is a corporate wallet application designed to streamline the management of corporate expenditures. The platform enables users to oversee, pay, and receive reimbursements for various business-related expenses, such as travel and procurement. By implementing intelligent control rules and reminder measures, Fenbeitong assists enterprises in significantly reducing costs associated with public consumption. Its credit monthly payment and unified invoice consumption model provide employees with a convenient way to manage expenditures without the burden of reimbursement processes, thus enhancing operational efficiency. Overall, Fenbeitong focuses on improving the financial management of corporate spending while facilitating a more efficient workflow for businesses.

UWinTech

Series C in 2022
Uwintech is One-stop IT operation and maintenance and DevOps.

Guoyi Quantum

Series C in 2021
Guoyi Quantum is a company that uses quantum precision measurement as its core technology to provide enterprises, governments, and research institutions around the world with core key devices represented by enhanced quantum sensors, scientific instruments and equipment for analysis and testing, and enable industry applications. Products and services such as core technology solutions. The company faces the fields of advanced materials, semiconductors, quantum science, life technology, medicine and clinical research, and is committed to helping customers promote the development of technology more efficiently and explore the future of mankind.
NASN Automotive Electronics is committed to providing advanced and complete chassis electronic control products, ADAS and autonomous driving related core technologies for the Chinese automotive market. The main products include NBooster intelligent brake system, brushless electric steering EPS controller and wire control system. It is a scientific and technological innovation enterprise integrating R&D, production and sales.

Leadsynbio

Series C in 2021
Pilot Bio is a bio-manufacturing technology research and development company, focusing on bio-manufacturing of major chemical products, bio-process substitution in heavy-polluting industries, etc., providing users with bio-catalytic synthesis processes, enzyme product research and development, production, sales, and downstream companies with enzyme engineering , Technical service outsourcing and production service outsourcing of strain transformation and metabolic engineering.

Alluxio

Series C in 2021
Alluxio, Inc. (formerly Tachyon Nexus) team consists of the creators and top committers of Alluxio (formerly Tachyon), an open source project from UC Berkeley AMPLab. For the past three years, we have been working to revolutionize the way data is stored, accessed, and managed by focusing on a memory-centric architecture. We believe this new approach is key to delivering the next generation storage.

Agile Robots

Series C in 2021
Agile Robots AG, founded in 2018 and headquartered in Gilching, Germany, specializes in developing artificial intelligence-based software for robotic solutions. The company focuses on creating intelligent robot systems that incorporate perception, intelligence, and actuation. Its core products include a lightweight 7-degree-of-freedom robotic arm, a general-purpose robot controller, and a robot vision system. Agile Robots emphasizes full-body force sensitivity and vision intelligence, enabling their robotic systems to interpret the shape, material, and measurements of various objects. This technology facilitates applications in manufacturing, medical assistance, and service robotics. With an additional office in Beijing, China, Agile Robots is dedicated to advancing the integration of AI with physical robotics.

VanMoof

Series C in 2021
VanMoof B.V., founded in 2008 and based in Amsterdam, Netherlands, specializes in the design and manufacture of urban e-bikes aimed at enhancing commuting for city dwellers. The company's product lineup includes the SmartBike, Electrified S, and Standard models, all equipped with advanced features such as a touch unlock system, anti-theft mechanisms, and integrated electronic locks. These bikes are designed to provide a fast, smart, and stylish means of transportation while promoting sustainability. Additionally, VanMoof offers various bicycle accessories, including locks and carriers, and sells its products through both physical stores and online platforms.

Pulse Medical Technology

Series C in 2021
Pulse Medical Technology develops innovative technology for the diagnosis and optimal treatment of pan-vascular diseases.

MicroPort CRM

Series C in 2021
MicroPort CRM develops solutions for the management of cardiac rhythm disorders and heart failure. MicroPort CRM products include high-voltage defibrillators, cardiac resynchronization therapy devices, and low-voltage pacemakers. MicroPort CRM has about 1000 employees with operations in Clamart, France; Saluggia, Italy; and Santo Domingo, Dominican Republic.

Nature's Fynd

Series C in 2021
Nature's Fynd develops a protein production platform from extremophile organisms for consumer and industrial applications. The company was formerly known as Sustainable Bioproducts, Inc. Nature's Fynd was incorporated in 2016 and is headquartered in Chicago, Illinois with an additional office in Bozeman, Montana.

Facily

Series C in 2021
Facily is a social commerce marketplace in Latin America. The platform focuses on low-ticket items, delivering great prices and differentiated logistics to lower income neighbourhoods, leveraging learnings from China. Facily offers a unique experience by bringing the opportunity to buy together with friends directly from producers and manufacturers, having fun playing with freemium features. Facily also promotes community buying by leveraging local leaders and influencers.

Jianjia Robot

Series C in 2021
Jianjia Robot develops a hard tissue surgical robot platform promoting technological progress in the field of surgery at home and abroad. Jianjia Robot's orthopedic joint surgical robot, ARTHROBOT, can cover both hip and knee joints, breaking the long-term monopoly of imported surgical robots in this field.

XAG

Series C in 2021
XAG Co., Ltd. designs and develops drones, robots, autonomous driving solution, and artificial intelligence (AI) based equipment for agricultural industry. The company offers unmanned aerial vehicle (UAV) equipment for various types of applications, such as model aircraft for weekend hobbyists and large-scale professional UAVs for commercial and industrial applications. The company offers aerial imaging and monitoring products, including flight control systems, multi-task weatherproof UAV systems, brushless gimbals, and frames; and commercial UAVs for lifting and logistics applications. Its commercial and industrial products and services are used for low-altitude airspace logistics, police force assistance, medical rescue assistance, forest fire prevention, geological prospecting, aerial photography, surveying, and arctic expedition. The company was founded in 2007 and is based in Guangzhou, China.

Jifei Technology

Series C in 2021
Jifei Technology is a company specializing in the design, development, and manufacturing of multi-rotor equipment. It offers a diverse range of products, including personal aerial imaging systems, multi-copter flight controllers, brushless camera gimbals, and professional ground stations. These products cater to a wide array of applications, from hobbyist model aircraft to large-scale professional unmanned aerial vehicles for commercial use. In addition to manufacturing, Jifei Technology provides firmware and software upgrades, assembly and repair services, as well as tutorial and flight training courses. The company markets its offerings through an extensive network of dealers and distributors both in Australia and internationally, along with a retail store in Alexandria. Jifei Technology was founded in 2007 and maintains research and development centers in Australia and China, supported by manufacturing facilities in China.

Fenbeitong

Series C in 2021
Fenbeitong is a corporate wallet application designed to streamline the management of corporate expenditures. The platform enables users to oversee, pay, and receive reimbursements for various business-related expenses, such as travel and procurement. By implementing intelligent control rules and reminder measures, Fenbeitong assists enterprises in significantly reducing costs associated with public consumption. Its credit monthly payment and unified invoice consumption model provide employees with a convenient way to manage expenditures without the burden of reimbursement processes, thus enhancing operational efficiency. Overall, Fenbeitong focuses on improving the financial management of corporate spending while facilitating a more efficient workflow for businesses.

Ark Biosciences

Series C in 2021
Ark Biosciences Inc. is a biopharmaceutical company based in Shanghai, China, focused on discovering and developing therapeutics for unmet medical needs, particularly in respiratory viral infections and viral hepatitis. Founded in 2013, the company is dedicated to addressing global health challenges with its innovative products, which include AK0701 for chronic obstructive pulmonary disease, AK0529 for respiratory syncytial virus, AK0612 for influenza, and AK0705 and AK0706 for hepatitis B. Ark Biosciences aims to establish itself as a leader in antiviral drug development through a commitment to scientific excellence and innovation.

Immvira

Series C in 2020
Immvira Co., Ltd. is a biopharmaceutical company based in Shenzhen, China, established in May 2015 by a team of renowned professors from various prestigious universities. The company specializes in the development of innovative anti-cancer therapies that utilize genetically engineered viruses. These therapies are designed to target cancer cells specifically and are enhanced by cancer-specific immune factors or chemotherapeutic agents. Immvira's product offerings include oncolytic herpes simplex viruses (oHSV) that encode interleukin-12 and anti-PD-1 antibodies, which can be delivered directly into tumor masses or in combination with systemic immune modulators. The company also explores auxiliary therapies and engineered viruses that can infect tumor cells with unique surface receptors.

Horizon Robotics

Series C in 2020
Horizon Robotics, founded in 2015 and headquartered in Beijing, China, specializes in developing advanced chips for robotics and artificial intelligence applications. The company focuses on providing integrated, open embedded AI solutions that are designed to be high-performance, low-power, and cost-effective. Horizon Robotics aims to enable a wide range of devices, including autonomous vehicles, to operate with enhanced intelligence, facilitating capabilities such as perception, understanding, and decision-making to improve safety and convenience. The company's co-founding team possesses expertise in algorithms, software, hardware, and chip development, supported by a robust research and development team with significant industry experience. Horizon Robotics has garnered considerable investment from prominent venture capital firms and notable investors, positioning itself as a leading player in the global AI startup landscape.

WeMed

Series C in 2020
Beijing WeMed Medical Equipment Co., Ltd. specializes in interventional diagnosis and treatment solutions, focusing on the development and industrialization of digital angiography systems. Founded in 2014 and based in Beijing, China, the company serves the clinical fields of radiology and cardiology. WeMed not only creates advanced digital angiography machines but also actively engages in optimizing and upgrading its products. Additionally, the company arranges department operations and conducts training for medical professionals, ensuring effective implementation and use of its technology. As a subsidiary of TCL Technology Group Corporation, WeMed is committed to advancing healthcare through innovative medical equipment and comprehensive support services.

Brosmed

Series C in 2020
BrosMed Medical Co., Ltd. engages into medical equipment. The firm was founded in 2012 and is based in China.

Antengene

Series C in 2020
Antengene Corporation is a biopharmaceutical company based in Shanghai, China, founded in 2016. The company specializes in developing innovative oncology therapies aimed at treating various types of cancer. Its product pipeline includes ATG-008, an orally available mTOR kinase inhibitor for advanced solid tumors and hematological malignancies, and ATG-010, a compound targeting the XPO1 protein for hematologic cancers like multiple myeloma. Additionally, Antengene is advancing several other candidates in different stages of development, including ATG-016, ATG-527, and ATG-019, which target various oncological conditions. The company is committed to addressing unmet medical needs in Asia through its research and development efforts focused on anti-tumor and anti-cancer therapies.

Xpeng Motors

Series C in 2020
XPeng Inc. designs, develops, manufactures, and markets smart electric vehicles in the People’s Republic of China and the United States. It offers SUVs under the G3 name; and four-door sports sedan under the P7 name. The company also provides vehicle leasing, bank loans, and auto insurance services. XPeng Inc. was founded in 2015 and is headquartered in Guangzhou, the People’s Republic of China.

Narwal

Series C in 2020
Yunjing (Narwal) Intelligence Technology (Dongguan) Co., Ltd. designs, develops, and produces intelligent cleaning robots. The company offers Narwal T10, a self-cleaning robot cleaner for automated mop cleaning, floor cleaning, and smart mapping. The company was founded in 2016 and is headquartered in Dongguan, China with an additional office in Shenzhen, China.

Everest Medicines

Series C in 2020
Everest Medicines Limited, a clinical-stage biopharmaceutical company, focuses on licensing, developing, and commercializing therapies for addressing critical unmet medical needs in Greater China and other Asia Pacific markets. It has a portfolio of eight clinical-stage drug candidates for the treatment of oncology, immunology, cardio-renal disease, and infectious diseases. The company was founded in 2017 and is headquartered in Shanghai, China.

Coalition

Series C in 2020
Coalition, Inc. specializes in providing insurance coverage and risk management tools specifically designed to address cyber risk. Founded in 2017 and based in San Francisco, the company caters to a diverse range of industries, including healthcare, retail, technology, real estate, non-profits, and cryptocurrency. Coalition offers up to $15 million in cyber and technology insurance coverage across the United States and $20 million in Canada. In addition to insurance, Coalition combines proactive cybersecurity measures with its offerings, featuring a cyber risk management platform that delivers automated security alerts, threat intelligence, and expert guidance. This comprehensive approach aims to help businesses effectively manage and mitigate the risks associated with cyber threats.

Suzhou Ribo Life Science

Series C in 2020
Suzhou Ribo Life Science is a developer of RNA interference ( RNAi ) technology designed to treat liver diseases. The company's RNA interference ( RNAi ) technology is used to develop nucleic acid therapeutic drugs and related products, enabling healthcare providers to deliver more effective pharmaceuticals to patients.

eRoad Software

Series C in 2020
Shanghai eRoad Software Co., Ltd. is a cloud-based human capital management software provider based in Shanghai, China, with additional offices in Chengdu, Beijing, Tianjin, and Shenzhen. Founded in 2004, the company offers a comprehensive suite of services designed for mid-to-large sized enterprises, including its core product, People+, an employee lifecycle management solution. This platform encompasses various modules for human resources management, time and compensation management, payroll processing, recruitment, onboarding, and training. eRoad Software also provides integrated payroll and tax solutions through its products, eSalary and eTax, along with mobile applications and a Policy Library that keeps users informed of tax regulations and social insurance rules across different cities in China. The company's focus on HR analytics aims to enhance operational efficiency and business insight for organizations.

Energy Monster

Series C in 2019
Energy Monster is a power bank rental service that enables users to rent power banks conveniently by scanning a QR code. The company aims to provide uninterrupted mobile device usage across various locations. Operating in 100 cities and partnering with approximately 100,000 merchants, Energy Monster places its power banks in points of interest such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs, and public spaces. Users can easily rent a power bank through mobile applications and return it at any participating location, leveraging the company's extensive network and advanced technology. Energy Monster is a subsidiary of Shanghai Zhi Technology.

ThreatBook

Series C in 2019
Beijing ThreatBook Technology Co., Ltd. is a security company specializing in threat intelligence solutions. Founded in 2015 by Feng Xue, the company is headquartered in Beijing, China. ThreatBook develops a threat detection platform that incorporates threat data, machine learning, and security research. Its product offerings include a threat analysis platform, subscription-based services for threat intelligence, machine-readable threat intelligence, and tools for situational awareness. These solutions are designed to help organizations identify and respond to potential security threats effectively.

Codemao

Series C in 2019
Codemao is an online education platform that teaches children about computer coding. The programming cat is a graphic programming tool platform developed by Shenzhen Point Cat Technology Co., Ltd. It is designed based on the learning characteristics of children and the concept of modern Chinese education. It adopts a different way of creating graphical programming modules than traditional codes and edutainment education concepts through interesting gamification courses and language. The combination of digital and other disciplines allows children to master knowledge in games, quickly understand programming concepts, and exercise their children's logical thinking ability and innovative practical ability. IN 2015, the Shenzhen, Guangdong-based company was established by Tianchi Li and Yue Sun.

XforcePlus

Series C in 2019
XforcePlus develops enterprise software solutions focused on enhancing supply chain collaboration and invoice management through a cloud-based platform. The company's services include VAT invoicing, electronic billing, payment reconciliation, and comprehensive tax reporting and analysis. By offering tools for efficient invoicing and settlement, XforcePlus enables businesses to improve management of their financial processes, increase tax revenue, and optimize capital utilization. Their solutions are designed to support enterprise clients in achieving greater financial security and operational efficiency.

Yatsen Holding

Series C in 2019
Yasten provides high-quality fashion makeup products.

eRoad Software

Series C in 2019
Shanghai eRoad Software Co., Ltd. is a cloud-based human capital management software provider based in Shanghai, China, with additional offices in Chengdu, Beijing, Tianjin, and Shenzhen. Founded in 2004, the company offers a comprehensive suite of services designed for mid-to-large sized enterprises, including its core product, People+, an employee lifecycle management solution. This platform encompasses various modules for human resources management, time and compensation management, payroll processing, recruitment, onboarding, and training. eRoad Software also provides integrated payroll and tax solutions through its products, eSalary and eTax, along with mobile applications and a Policy Library that keeps users informed of tax regulations and social insurance rules across different cities in China. The company's focus on HR analytics aims to enhance operational efficiency and business insight for organizations.

Energy Monster

Series C in 2019
Energy Monster is a power bank rental service that enables users to rent power banks conveniently by scanning a QR code. The company aims to provide uninterrupted mobile device usage across various locations. Operating in 100 cities and partnering with approximately 100,000 merchants, Energy Monster places its power banks in points of interest such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs, and public spaces. Users can easily rent a power bank through mobile applications and return it at any participating location, leveraging the company's extensive network and advanced technology. Energy Monster is a subsidiary of Shanghai Zhi Technology.

Airwallex

Series C in 2019
Airwallex is a technology company based in Hong Kong that specializes in providing a global payments and financial platform. Its services facilitate international transactions for businesses of all sizes, allowing them to make and receive payments efficiently and cost-effectively. By integrating advanced technology with a comprehensive ecosystem of application programming interfaces, Airwallex streamlines financial processes, enabling clients to issue and pay invoices in their preferred currency at competitive exchange rates. The platform addresses the complexities of the traditional financial system, helping businesses save time and reduce costs while expanding their operations both domestically and internationally. With a focus on empowering companies to thrive in a borderless digital economy, Airwallex plays a significant role in enhancing global commerce.

CarDekho

Series C in 2019
CarDekho provides enterprise mobility solutions, mobile application development, Web design and development, offshore staffing, and testing and quality assurance (QA) services. Its enterprise mobility solutions include enterprise mobility consulting, mobile business intelligence, business process mobilization, B2B mobile applications (app) development, enterprise iOS app development, enterprise Android app development, and enterprise app distribution; and mobile app development services include iPhone, iPad, Android, Blackberry, Windows8, Phonegap, and bootstrap. CarDekho’s Web design and development services include responsive design, PSD to HTML conversion, flash Website design, themes customization, content management system, E-commerce solution, CRM app development, open-source development, custom Web app development, regular Website maintenance, customized programming, online marketing, graphic design, Website hosting, employee management system, logo design, inventory management, and database design. Its offshore staffing services for designers, mobile apps developers,.NET developers, PHP developers, Java developers, Python developers, and ROR developers; and testing and QA services include automated, manual, usability, nonfunctional, specialized, mobile app, testing-as-a-service, integration, functional, system, localization, and acceptance testing. CarDekho develops entertainment, GPS tracking, weather, business and finance related, multi-media, sports, social networking, education, and travel applications. It serves the automobile, E-learning, consultancy, finance, social networking, tours and travel, health and fitness, medical, job and career, news and magazine, utility/productivity, entertainment, lifestyle, and Ecommerce industries; and IT and communication, and book and library industries. Amit and Anurag Jain founded CarDekho in 2007. It has its headquarters in Jaipur in India.

Golden Education

Series C in 2018
Golden Education is a provider of financial education and training, with courses covering more than 100 categories including accounting, securities, futures, banking and other industries.

Yunzhangfang

Series C in 2018
Nanjing Yunzhangfang Network Technology Co., Ltd. specializes in financial and accounting software solutions for enterprises, particularly targeting micro-enterprises and small accounting agencies. Founded in 2015 and headquartered in Nanjing, with an additional office in Beijing, the company offers automated fiscal and taxation solutions that streamline data collection, account verification, and tax statement preparation. By utilizing a SaaS-based platform, Yunzhangfang enables its clients to automate their bookkeeping tasks efficiently. The company has expanded its presence across China, with branches in major cities including Shanghai, Shenzhen, and Guangzhou, among others.

Jacobio Pharmaceuticals

Series C in 2018
Jacobio Pharmaceuticals Co., Ltd., a clinical-stage pharmaceutical company, focusing on the in-house discovery and development of oncology therapies. Its lead drug development programs include two clinical-stage allosteric SHP2 inhibitors, including JAB-3068, a SHP2 inhibitor for the treatment of patients with solid tumor; and JAB-3312, an oral small molecule anti-tumor agent. The company was founded in 2015 and is based in Beijing, China. Jacobio Pharmaceuticals Co., Ltd. is a subsidiary of Jacobio (HK) Pharmaceuticals Co., Limited.

MyDreamPlus

Series C in 2018
MyDreamPlus is a co-working space startup established in May 2015, focusing on providing a technologically advanced working environment. The company integrates space design, smart office management, and community operations to create high-quality shared office spaces. MyDreamPlus has developed an innovative management system that allows users to address various office-related tasks via their smartphones, such as unlocking doors, booking meeting rooms, and sharing Wi-Fi passwords. With over 20 locations primarily in major cities like Beijing and Chengdu, MyDreamPlus serves more than 300 enterprises, 90% of which are established companies, including notable names like COFCO, Chinese TAL Education Group, and Airbnb. The company's approach caters to a diverse clientele, including startups, freelancers, small and medium enterprises, and corporate teams, offering them a versatile and modern workspace experience.

Fordeal

Series C in 2018
Fordeal is an online cross-border lifestyle products shopping platform.

Antiva Biosciences

Series C in 2018
Antiva Biosciences is a biopharmaceutical company developing novel, localized therapeutics for the treatment of diseases caused by HPV infection. The company was founded as Hera Therapeutics in 2012 by Dr. Karl Hostetler at The University of California San Diego. They are now Antiva Biosciences which is headquartered in South San Francisco.

Moretickets

Series C in 2018
Moretickets is an online ticketing company based in Shanghai that operates a ticketing platform aimed at providing users with direct access to performance tickets. By employing a multi-channel ticket bidding mechanism, Moretickets eliminates intermediaries and offers strictly audited tickets at discounted prices. This approach allows users to obtain detailed performance information while purchasing tickets at lower costs. The company's focus on transparency and affordability distinguishes it in the competitive ticketing market.

I-Mab HK

Series C in 2018
I-Mab HK is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of innovative biologics aimed at addressing significant unmet medical needs, particularly in the areas of cancer and autoimmune disorders. The company is engaged in developing a diverse pipeline of product candidates, including Felzartamab, a CD38 antibody in Phase III trials for multiple myeloma, and Eftansomatropin, a long-acting human growth hormone for pediatric growth hormone deficiency. Other notable candidates include Olamkicept, an IL-6 blocker for ulcerative colitis, and Enoblituzumab, a B7-H3 antibody for head and neck cancer. I-Mab HK also has preclinical compounds targeting various conditions, including cancers and autoimmune diseases. The company has established strategic collaborations, such as with AbbVie, to enhance its development efforts. Founded in 2014 and headquartered in Shanghai, I-Mab HK is dedicated to advancing therapies that improve patient outcomes across various therapeutic areas.

I-Mab HK

Series C in 2018
I-Mab HK is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of innovative biologics aimed at addressing significant unmet medical needs, particularly in the areas of cancer and autoimmune disorders. The company is engaged in developing a diverse pipeline of product candidates, including Felzartamab, a CD38 antibody in Phase III trials for multiple myeloma, and Eftansomatropin, a long-acting human growth hormone for pediatric growth hormone deficiency. Other notable candidates include Olamkicept, an IL-6 blocker for ulcerative colitis, and Enoblituzumab, a B7-H3 antibody for head and neck cancer. I-Mab HK also has preclinical compounds targeting various conditions, including cancers and autoimmune diseases. The company has established strategic collaborations, such as with AbbVie, to enhance its development efforts. Founded in 2014 and headquartered in Shanghai, I-Mab HK is dedicated to advancing therapies that improve patient outcomes across various therapeutic areas.

GRAIL

Series C in 2018
Grail, Inc. is a healthcare company dedicated to developing innovative technologies for early cancer detection. Founded in 2015 and based in Menlo Park, California, the company has created Galleri, a blood test designed for asymptomatic individuals over 50 years old, which identifies various types of cancer at early stages. In addition to Galleri, Grail is developing a diagnostic aid called DAC to accelerate the diagnostic process for patients with a clinical suspicion of cancer. The company is also working on tests for minimal residual disease and other post-diagnostic applications. Through high-intensity sequencing and population-scale clinical trials, Grail aims to advance the field of cancer screening and improve patient outcomes.

Arvinas

Series C in 2018
Arvinas is a pharmaceutical company that focuses on developing novel therapeutics to treat a variety of diseases including cancer, pro-inflammatory, autoimmune and rare diseases. Its proprietary approach is the targeting of disease-causing proteins for degradation thus eliminating them from the body. The company was founded in 2013 and is headquartered in Connecticut, United States.

Hookipa Pharma

Series C in 2017
Hookipa Pharma is a clinical-stage biopharmaceutical company focused on developing immune-therapeutics for infectious diseases and cancers using its proprietary arenavirus platform. The company's key platforms, Vaxwave and TheraT, aim to elicit robust immune responses, including high levels of neutralizing antibodies and T cells, which are often lacking in traditional therapies. Hookipa's product pipeline features HB-101, a vaccine targeting cytomegalovirus, and HB-201 and HB-202, which are in preclinical studies for human papillomavirus-positive cancers. Additionally, the company is collaborating with Gilead Sciences to create therapies for chronic Hepatitis B and HIV infections. Founded in 2011 and headquartered in New York, Hookipa Pharma aims to transform the field of immunotherapy through its innovative approaches.

Arcus Biosciences

Series C in 2017
Arcus Biosciences is a clinical-stage biopharmaceutical company based in Hayward, California, focused on developing innovative cancer therapies through insights in immunology. Founded in 2015 by experienced researchers from the biotechnology sector, the company is advancing a pipeline that includes several promising candidates. Notably, it is developing AB928, a dual A2a/A2b adenosine receptor antagonist, and Zimberelimab, an anti-PD-1 monoclonal antibody, both currently in clinical trials. Additionally, Arcus is working on AB154, an anti-TIGIT monoclonal antibody, and AB680, a small-molecule CD73 inhibitor, targeting various cancer types such as non-small cell lung cancer and pancreatic cancer. The company has established partnerships with organizations like Strata Oncology and AstraZeneca to enhance its research efforts and expand its clinical trials. By focusing on the ATP-adenosine pathway, which plays a crucial role in tumor immunosuppression, Arcus aims to create and optimize differentiated immuno-oncology therapies for patients.

Paper Boat

Series C in 2017
Paper Boat is an e-commerce platform based in Haryana, India, that specializes in non-carbonated beverages and food products. Founded in 2009, the company focuses on reviving traditional Indian flavors, offering a range of drinks such as jaljeera, aamras, and tulsi tea, along with various snack items. By combining scientific observation with a passion for authentic tastes, Paper Boat aims to provide consumers with nostalgic beverages reminiscent of their childhood. The brand collaborates with prominent companies and personalities to enhance its offerings, ensuring a unique and enjoyable experience for its customers.

Lefit

Series C in 2017
Lefit is a Hangzhou-based new concept fitness start-up gym operator.

Paper Boat

Series C in 2017
Paper Boat is an e-commerce platform based in Haryana, India, that specializes in non-carbonated beverages and food products. Founded in 2009, the company focuses on reviving traditional Indian flavors, offering a range of drinks such as jaljeera, aamras, and tulsi tea, along with various snack items. By combining scientific observation with a passion for authentic tastes, Paper Boat aims to provide consumers with nostalgic beverages reminiscent of their childhood. The brand collaborates with prominent companies and personalities to enhance its offerings, ensuring a unique and enjoyable experience for its customers.

YITU

Series C in 2017
Yitu Limited, founded in 2012 and based in Shanghai, China, specializes in the research and development of artificial intelligence solutions with applications across various sectors including smart cities, healthcare, and commerce. The company focuses on machine vision, natural language understanding, and intelligent hardware, providing a range of products such as intelligent security platforms, urban transport management systems, and medical imaging technology. Yitu's healthcare solutions include AI-driven platforms for disease management, child development evaluation, and integrated medical services. The firm also supports industries like finance and retail by offering AI infrastructure and solutions designed to enhance operational efficiency and decision-making. With additional offices in Beijing and Hangzhou, Yitu is committed to pioneering advancements in AI to foster a safer and more efficient world.

Nio

Series C in 2017
Nio Limited is a prominent electric vehicle manufacturer based in Shanghai, China, focusing on the premium segment of the market. Founded in 2014, the company designs, jointly manufactures, and sells smart electric vehicles, including five, six, and seven-seater SUVs. Nio is recognized for its innovative technology, including battery swapping and autonomous driving features, which enhance user experience. Its model lineup includes the ES8, a high-performance seven-seater SUV launched in 2018, the ES6 five-seater SUV, and the EC6 electric coupe SUV. The company also provides a range of charging solutions, such as home charging, battery swapping services, and mobile charging options, alongside value-added services like insurance and maintenance. In addition to its electric vehicle offerings, Nio collaborates with organizations like Mobileye N.V. to advance its technology. As of 2023, Nio has sold over 160,000 electric vehicles, capturing approximately 2% of the new energy vehicle market in China.

Mobike

Series C in 2016
Meituan Bike (formerly Mobike) is a Chinese fully station-less bicycle-sharing system. It develops mobile apps for users to find and use bicycles to travel anywhere. Davis Wang Xiao Feng, Hu Wei Wei, and Xia Yi Ping founded Mobike on January 27, 2015, with its headquarters in Beijing, China. Mobike raised $600 million in Series E funding led by Tencent, bringing the firm's fundraising in 2017 alone to nearly US$1 billion in June 2017. It became worth US$3 billion in the same month. Chinese web company Meituan-Dianping acquired Mobike for US$2.7 billion in April 2018. Parent company Meituan-Dianping announced name change from Mobike to Meituan Bike on January 23, 2019 as part of an ongoing integration.

Beequick

Series C in 2015
Beequick currently provides one-hour delivery of fresh produce and other products from community convenience stores. It has served over 250,000 customers in Beijing, and plan to expand its services to other big cities in China.

Yooli

Series C in 2015
Yooli.com Inc. operates a person-to-person crowdfunding platform that facilitates loans for borrowers. Founded in 2012 and based in Beijing, China, Yooli collaborates with 23 offline micro-credit companies to provide investors with access to loans sourced from various smaller peer-to-peer platforms. To enhance trust and confidence in its offerings, Yooli partners with a third party to evaluate the credit quality of each loan, ensuring a more reliable investment environment for its users.

Paper Boat

Series C in 2015
Paper Boat is an e-commerce platform based in Haryana, India, that specializes in non-carbonated beverages and food products. Founded in 2009, the company focuses on reviving traditional Indian flavors, offering a range of drinks such as jaljeera, aamras, and tulsi tea, along with various snack items. By combining scientific observation with a passion for authentic tastes, Paper Boat aims to provide consumers with nostalgic beverages reminiscent of their childhood. The brand collaborates with prominent companies and personalities to enhance its offerings, ensuring a unique and enjoyable experience for its customers.

Mafengwo

Series C in 2015
Beijing Mafengwo Network Technology Co., Ltd. operates a comprehensive travel platform that provides information on both domestic and international travel destinations. Founded in 2006, the company allows users to share their travel experiences through a social networking site, featuring over one million user-generated travel guides and more than five million ratings and reviews. Mafengwo offers a wide range of services, including travel route planning, hotel bookings, and essential travel information such as visa requirements and insurance. The platform also emphasizes user engagement and continuously enhances its features to improve the sharing of travel-related content. With a core product encompassing a vast array of global destinations, Mafengwo has achieved over 100 million downloads of its travel guides and serves millions of users annually. The company has integrated various booking services, partnering with established platforms to streamline the travel planning process. Based in Beijing, Mafengwo is dedicated to enhancing the travel experience through accessible and comprehensive resources.

Saltside

Series C in 2015
Saltside Technologies AB is an online marketplace founded in 2011 and headquartered in Gothenburg, Sweden, with additional offices in various countries including Ghana, Nigeria, India, the United Arab Emirates, Bangladesh, and Sri Lanka. The company focuses on facilitating transactions in emerging markets, allowing users to buy and sell a range of products such as cars, mobile phones, land, and livestock. Saltside aims to create a safe and efficient platform that enhances access to market opportunities, thereby improving the lives of its users.

Innovent Biologics

Series C in 2015
Innovent Biologics, Inc. is a prominent biopharmaceutical company based in Suzhou, China, specializing in the discovery, development, manufacture, and commercialization of monoclonal antibody drug candidates. The company focuses on various therapeutic areas, including oncology, ophthalmology, immunology, and metabolic diseases. Its flagship product, Tyvyt (sintilimab), is an anti-PD-1 monoclonal antibody used in treating multiple cancers and is featured on the National Reimbursement Drug List. Innovent has developed several other promising candidates, including biosimilars and bispecific antibodies for conditions such as non-Hodgkin’s lymphoma, autoimmune diseases, and advanced solid tumors. The company has established strategic collaborations with major global pharmaceutical firms, enhancing its research and development capabilities. Founded in 2011, Innovent has a strong management team with extensive experience in biologics, and it continues to expand its portfolio of therapeutic options while maintaining a commitment to innovation in the biopharmaceutical industry.

Douguo

Series C in 2014
Douguo (豆果网) is an interactive Chinese community that helps users find, share, and communicate about tasty food. Douguo offers an online culinary communication platform that helps users share information about good food and stories. It provides a stage for people who love food and life to show their cooking skills. It also offers a learning class for the green hands who are worried about their eating and drinking. Douguo provides an Android smartphone application that acts as a menu, which offers all kinds of cuisines. Users are able to recommend and search menus according to different demands, and share their knowledge about menus with other users.

Grab

Series C in 2014
Grab Holdings Inc., based in Singapore, is a prominent mobile technology platform operating in Southeast Asia. Founded in 2012, the company offers a wide range of services, including ride-sharing through GrabTaxi and GrabCar, and food and grocery delivery. Grab also provides financial services, such as payments, consumer loans, and insurance, catering to both merchants and consumers. Its platform connects drivers and customers, generating revenue primarily through commissions from ride-sharing and food delivery services. Grab operates in eight countries, including Singapore, Indonesia, and Malaysia, where it holds a significant market share. The company has expanded its offerings to include various options for transportation and delivery, as well as a mobile wallet for seamless transactions. Grab continues to face competition from other regional players, such as Foodpanda and Gojek.

JD.com

Series C in 2012
JD.com is a leading online direct sales company in China, renowned for its extensive transaction volume and significant market share. The platform provides consumers with a diverse selection of authentic products at competitive prices, emphasizing a user-friendly online shopping experience through its website and mobile applications. To ensure timely and reliable delivery, JD.com has established a comprehensive nationwide fulfillment infrastructure, comprising numerous warehouses and a self-operated delivery network. This infrastructure allows the company to maintain high customer satisfaction levels and supports both its direct sales and online marketplace operations. JD.com also includes JD Health, an e-commerce platform for pharmaceutical products, and JD Logistics, which offers supply chain and logistics services, including innovative solutions like drone deliveries. With a strong emphasis on technology, JD.com has invested in a proprietary platform to facilitate growth and enhance service offerings, employing a substantial workforce to support its operations across China.
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