IDG Capital

IDG Capital is a Beijing-based venture and growth-stage investment firm that backs technology-enabled companies across global markets, with a strong emphasis on China and Asia. It invests across seed, early, later, and growth stages and pursues buyouts, with interests spanning information technology, software, consumer products and services, healthcare, energy, SaaS, mobile, TMT, and advanced manufacturing. The firm leverages a worldwide network of limited partners, including sovereign wealth funds, pension funds, institutional investors, and philanthropic and educational endowments, to support portfolio companies. With deep local market knowledge and extensive relationships with business leaders, IDG Capital combines global perspective with local execution to facilitate inbound and outbound opportunities in China and the broader Asian region.

Xiaohui Cao

Partner

Guangfu Cui

Partner

Jun Fang

Partner

Mei Gao

Partner

Young Guo

General Partner

Past deals in Advertising

HeyGen

Seed Round in 2022
HeyGen operates an artificial intelligence video platform that converts text into realistic spokesperson videos using digital avatars. The browser-based solution enables users to create videos without actors, cameras, or traditional editing, simply by inputting a narrative. The platform supports voice replication, avatar customization, and multilingual output, allowing content to be produced efficiently for diverse audiences. By removing production complexity, HeyGen helps organizations generate engaging video content at scale for marketing, training, and communications purposes.

DeepBrain AI

Series B in 2021
DeepBrain AI provides advanced conversational artificial intelligence technology that enables lifelike digital humans for applications in broadcasting, education, and the service industry. Its AI can simulate real-person interactions, supporting a wide range of use cases and enabling engaging, scalable customer experiences. The company aims to capture growing demand for differentiated, human-like AI across diverse markets and collaborates with major tech and telecom partners to accelerate growth. Key partnerships include Microsoft, Kakao Partners, and SK Telecom, reflecting its focus on global expansion and practical deployment of its AI to enterprise and consumer contexts.

Clapper

Seed Round in 2021
Clapper is a social media platform focused on authentic connections and community engagement. It enables adults to share real-life moments, opinions, and talents through brief mobile video content across the world. The platform is advertisement-free and aims to foster open self-expression without concerns about trolling or shadow banning, helping users connect with friends, family, and others who share similar interests while observing trends and real-life experiences as they unfold.

DeepBrain AI

Series A in 2019
DeepBrain AI provides advanced conversational artificial intelligence technology that enables lifelike digital humans for applications in broadcasting, education, and the service industry. Its AI can simulate real-person interactions, supporting a wide range of use cases and enabling engaging, scalable customer experiences. The company aims to capture growing demand for differentiated, human-like AI across diverse markets and collaborates with major tech and telecom partners to accelerate growth. Key partnerships include Microsoft, Kakao Partners, and SK Telecom, reflecting its focus on global expansion and practical deployment of its AI to enterprise and consumer contexts.

Tikin Media

Series B in 2019
Tikin Media is an innovative advertising company that specializes in elevator marketing solutions, connecting properties with advertisers. It focuses on creating high-end commercial building media experiences through the installation of advanced projector systems in elevators. This unique approach offers advertisers a new channel to engage consumers, enhancing product visibility in a novel environment. The company has developed proprietary elevator projection equipment, which integrates mobile connectivity, programmatic ordering, and big data analytics, thus transforming traditional advertising methods. With backing from prominent investors, Tikin Media aims to redefine the landscape of advertising within commercial spaces.

Zmeng Network Technology (ZMT)

Series C in 2018
ZMT is a Beijing-based precision marketing services provider. ZMT offers mobile precision marketing solutions, covering a number of fields including life services, automobile, real estate, education, healthcare, finance, and tourism.

Tikin Media

Series A in 2018
Tikin Media is an innovative advertising company that specializes in elevator marketing solutions, connecting properties with advertisers. It focuses on creating high-end commercial building media experiences through the installation of advanced projector systems in elevators. This unique approach offers advertisers a new channel to engage consumers, enhancing product visibility in a novel environment. The company has developed proprietary elevator projection equipment, which integrates mobile connectivity, programmatic ordering, and big data analytics, thus transforming traditional advertising methods. With backing from prominent investors, Tikin Media aims to redefine the landscape of advertising within commercial spaces.

SoulSense

Series A in 2018
SoulSense is a Beijing-based media and entertainment company founded in 2017. It specializes in publishing soft text, music, and videos through popular Chinese social media platforms like Weibo and WeChat. Additionally, SoulSense operates an online trend culture community and offers graphic design services, producing both hand-drawn and computer-generated art for marketing and personal use. The company also provides consumer promotion services, helping clients achieve creative and effective designs tailored to their needs.

Yilan

Seed Round in 2018
Yilan is a VaaS platform that offers video content services, algorithm services, content, and advertising services. It also provides content signing, content machine manual review, video semantic understanding, video playback platform, intelligent recommendation system, video advertising, video distribution, and other linkages.

Shankai

Series B in 2017
China Shankai Sports International Limited is a Beijing-based company specializing in sports marketing and event management. It offers a range of services, including sports sponsorship, public relations, and authorization for international sports organizations. The company facilitates business arrangements for both international and Chinese sports stakeholders, leveraging its extensive local knowledge and network. Shankai Sports focuses on enhancing corporate hospitality, digital media engagement, and overall event development, thereby contributing to the growth of the sports industry in China.

Zmeng Network Technology (ZMT)

Series B in 2017
ZMT is a Beijing-based precision marketing services provider. ZMT offers mobile precision marketing solutions, covering a number of fields including life services, automobile, real estate, education, healthcare, finance, and tourism.

Meituan

Series F in 2017
Meituan is a Beijing-based Chinese technology platform that combines on-demand food delivery, local commerce, and social shopping. It retails and delivers Chinese food from local restaurants online and operates a social commerce website offering online group discounts for food, groceries, tickets, and other services, including entertainment and health/fitness sectors. Meituan is described as the largest food delivery platform in China, with a market share of roughly 60-70% in 2024 according to Morningstar estimates. In the third quarter of 2024, about 74% of revenue came from the core local commerce segment, encompassing on-demand food delivery, retail and in-store services such as visits to beauty and entertainment venues after purchasing deals, and hotel and travel booking, while the remaining 26% came from newer initiatives like Meituan Select and overseas food delivery. The company originated as Meituan Group in 2010, became Meituan-Dianping in 2015, and rebranded to Meituan in 2020.

Zmeng Network Technology (ZMT)

Series B in 2017
ZMT is a Beijing-based precision marketing services provider. ZMT offers mobile precision marketing solutions, covering a number of fields including life services, automobile, real estate, education, healthcare, finance, and tourism.

JinGang Culture

Angel Round in 2016
JinGang Culture is a media company that specializes in multi-channel network services (MCN). It focuses on connecting online influencers, bloggers, and celebrities to enhance digital marketing efforts for businesses and enterprises. By leveraging social media and the influence of its network, JinGang Culture offers professional marketing solutions that help clients effectively engage with their target audiences. Through its strategic approach, the company aims to maximize the impact of digital content and drive brand visibility in an increasingly competitive marketplace.

EverString

Series B in 2015
EverString, established in 2012 and headquartered in San Mateo, California, specializes in a predictive analytics platform designed for B2B companies. Its cloud-based SaaS solution identifies and engages customer prospects by tracking and analyzing user data patterns, developing custom predictive models, and monitoring prospect behaviors to reveal intent. The platform offers predictive scoring, demand generation, and targeted advertising, aiding clients in building new pipelines and enhancing conversion rates. As of November 2020, EverString operates as a subsidiary of ZoomInfo Technologies Inc.

RGYUN

Series A in 2015
RGYUN is a developer of a mobile Private Marketplace (PMP) trading platform specializing in soft advertisements. The company offers a Software as a Service (SaaS) solution tailored for middle and large media enterprises, facilitating advertising transaction services. RGYUN's platform enables media organizations to create customized PMP environments, allowing for efficient real-time bidding on advertising space. By streamlining the advertising process, RGYUN supports businesses in optimizing their advertising strategies and enhancing their market presence.

KKeye

Series C in 2015
KKeye, Inc. is a China-based company that specializes in the development and marketing of online advertising tracking software. It offers an internet advertising marketing platform that utilizes big data technology to optimize advertising and marketing strategies. By providing enterprise services, KKeye enables businesses to enhance customer attraction and drive revenue growth through effective online marketing solutions.

700Bike

Series A in 2015
700Bike Inc. is an online platform based in Beijing, China, dedicated to promoting cycling culture and a lifestyle centered around it. Founded in 2012, the company aims to integrate fashion and trends into the cycling experience, making it more appealing to a wider audience. By leveraging its expertise and resources, 700Bike has established itself as a leader in the cycling media landscape, organizing influential events that attract thousands of participants and deepen the community's appreciation for cycling. Additionally, 700Bike offers a range of innovative bicycles designed to serve as stylish and practical alternatives to traditional transportation methods, catering to the evolving demands of consumers.

Shankai

Series A in 2015
China Shankai Sports International Limited is a Beijing-based company specializing in sports marketing and event management. It offers a range of services, including sports sponsorship, public relations, and authorization for international sports organizations. The company facilitates business arrangements for both international and Chinese sports stakeholders, leveraging its extensive local knowledge and network. Shankai Sports focuses on enhancing corporate hospitality, digital media engagement, and overall event development, thereby contributing to the growth of the sports industry in China.

EverString

Series A in 2014
EverString, established in 2012 and headquartered in San Mateo, California, specializes in a predictive analytics platform designed for B2B companies. Its cloud-based SaaS solution identifies and engages customer prospects by tracking and analyzing user data patterns, developing custom predictive models, and monitoring prospect behaviors to reveal intent. The platform offers predictive scoring, demand generation, and targeted advertising, aiding clients in building new pipelines and enhancing conversion rates. As of November 2020, EverString operates as a subsidiary of ZoomInfo Technologies Inc.

IVI Movie

Series A in 2013
IVI Movie operates as a comprehensive movie theater franchise provider, offering services that encompass all aspects of establishing and managing movie theaters. The company supports franchisees by delivering marketing strategies, a selection of popular films, and operational management plans, ensuring a streamlined process for those looking to enter the cinema business. In addition to traditional movie screenings, IVI Movie enhances the theater experience by incorporating clubs and coffee bars, creating a multifaceted entertainment environment for patrons. Through its integrated approach, IVI Movie aims to facilitate successful theater operations while providing a unique and enjoyable experience for moviegoers.

EverString

Seed Round in 2013
EverString, established in 2012 and headquartered in San Mateo, California, specializes in a predictive analytics platform designed for B2B companies. Its cloud-based SaaS solution identifies and engages customer prospects by tracking and analyzing user data patterns, developing custom predictive models, and monitoring prospect behaviors to reveal intent. The platform offers predictive scoring, demand generation, and targeted advertising, aiding clients in building new pipelines and enhancing conversion rates. As of November 2020, EverString operates as a subsidiary of ZoomInfo Technologies Inc.

iMedia Comunicazione

Series B in 2012
iMedia Comunicazione (fromerly i-Media) is the top 3 wireless media placement agency in China. We are the main mobile media placement agency for Tencent QQ, covering 80% of its sales in national China, and we also sell media placement for Phoenix New Media, Sina, Baidu and 3G. We do have our competitive advantage edge in our business such as client resources and technology. We are also not only an agency, but also an APP developer for APP in-direct ad placement in new media. We hope to communicate with your team who is responsible for this area. We would very much like to exchange resources and collaborate with international groups. Just wondering if you have any clients who is going for the China market and would like media placement? Thanks very much. Specialties Wireless Mobile Marketing Communication, Marketing & Advertising in China, APP Developer, Internet Marketing in China

Limei Advertising

Series B in 2012
Beijing Limei Media Technology Co., Ltd., originally known as Beijing Limei Advertising Co., Ltd., specializes in digital and mobile marketing solutions. Founded in 2011 and based in Beijing, the company has established itself as a significant player in the Chinese market, offering platforms such as the iMedia wireless advertisement management system, which boasts over 90% coverage of domestic WAP media, and the Allmob mobile intelligent advertising platform, integrated with more than 200,000 Android applications. With a total of 4.5 billion downloads of its products, Limei continues to experience rapid growth. The company has expanded its presence by establishing branches in major cities including Shanghai, Guangzhou, Shenzhen, Wuhan, Chengdu, Xiamen, and Qingdao, and has invested in several specialized mobile internet technology firms to enhance its capabilities and offerings.

KKeye

Series B in 2012
KKeye, Inc. is a China-based company that specializes in the development and marketing of online advertising tracking software. It offers an internet advertising marketing platform that utilizes big data technology to optimize advertising and marketing strategies. By providing enterprise services, KKeye enables businesses to enhance customer attraction and drive revenue growth through effective online marketing solutions.

Limei Advertising

Series A in 2011
Beijing Limei Media Technology Co., Ltd., originally known as Beijing Limei Advertising Co., Ltd., specializes in digital and mobile marketing solutions. Founded in 2011 and based in Beijing, the company has established itself as a significant player in the Chinese market, offering platforms such as the iMedia wireless advertisement management system, which boasts over 90% coverage of domestic WAP media, and the Allmob mobile intelligent advertising platform, integrated with more than 200,000 Android applications. With a total of 4.5 billion downloads of its products, Limei continues to experience rapid growth. The company has expanded its presence by establishing branches in major cities including Shanghai, Guangzhou, Shenzhen, Wuhan, Chengdu, Xiamen, and Qingdao, and has invested in several specialized mobile internet technology firms to enhance its capabilities and offerings.

BizArk

Venture Round in 2010
BizArk is a marketing services provider based in China, specializing in foreign trade and e-commerce. Established in 2009, the company launched an integrated overseas e-commerce marketing solution and set up its Overseas Research Strategic Headquarters in Detroit, U.S. In 2010, it was officially named BizArk, focusing on assisting export-oriented enterprises in establishing a presence in international markets and achieving localization in their marketing strategies. The company's marketing headquarters in Shanghai oversees operations across China, while Nanjing Ketai serves as its research and development and implementation headquarters. BizArk offers a range of services, including website construction, network marketing, logistics, and legal consulting, enabling Chinese foreign trade enterprises to enhance their competitiveness in global markets.

BizArk

Series A in 2010
BizArk is a marketing services provider based in China, specializing in foreign trade and e-commerce. Established in 2009, the company launched an integrated overseas e-commerce marketing solution and set up its Overseas Research Strategic Headquarters in Detroit, U.S. In 2010, it was officially named BizArk, focusing on assisting export-oriented enterprises in establishing a presence in international markets and achieving localization in their marketing strategies. The company's marketing headquarters in Shanghai oversees operations across China, while Nanjing Ketai serves as its research and development and implementation headquarters. BizArk offers a range of services, including website construction, network marketing, logistics, and legal consulting, enabling Chinese foreign trade enterprises to enhance their competitiveness in global markets.

Heidi Coast Advertising

Series D in 2008
Heidi Coast Advertising Co., Ltd. is a Chinese company focused on the development and operation of campus media integrated marketing solutions. Heidi Coast Advertising’s leading brand, “China Campus Media,” covers new media such as campus video, campus outdoor, campus activity, CC176.com, and more. By cooperating with educational institutions and major domestic media organizations, the company spreads news, entertainment, programs, and advertisement information in universities and colleges, with students as the main audience group. It covers 18 economically developed cities and over 330 colleges and universities in China. It influences over 5 million people daily and maintains a campus broadcasting network.

Jingshi Wanwei

Series B in 2008
KKeYe, a self-owned brand of Jingshi Wanwei Software, is a Chinese search marketing service provider that scientifically improves the cost-performance ratio of online advertising based on the analysis of massive advertising data. KKeYe is the only company in China that scientifically improves the cost-performance ratio of online advertising based on the monitoring and analysis 5 search engines, 631 internet media, 9231 channels, and 18 forms of online advertisements. It also provides deep search marketing services for customers relying on core technologies. It has a number of patented technologies to its own name, and has won the title of national high-tech enterprise in 2010. Established in 2007, KKeYe received capital funding from IDG.

Heidi Coast Advertising

Series C in 2007
Heidi Coast Advertising Co., Ltd. is a Chinese company focused on the development and operation of campus media integrated marketing solutions. Heidi Coast Advertising’s leading brand, “China Campus Media,” covers new media such as campus video, campus outdoor, campus activity, CC176.com, and more. By cooperating with educational institutions and major domestic media organizations, the company spreads news, entertainment, programs, and advertisement information in universities and colleges, with students as the main audience group. It covers 18 economically developed cities and over 330 colleges and universities in China. It influences over 5 million people daily and maintains a campus broadcasting network.

Tiansheng

Series B in 2007
Tiansheng Digital TV Development Co., Ltd. is a professional institution dedicated to the national marketing and promotional activities of the European football channel of Guangdong Television. TianSheng deployed the entire plan for the operation and development of the European football channel, starting from when the channel first entered the cable network in different regions, to developing specific market promotion planning activities in various regions for the channel and carrying out marketing by recruiting agents. TianSheng also invests huge funds into large scale advertisements, ground activities, and other promotional activities, in order to improve the brand of European football channels and create new operation modes for China’s digital TV paid channels.

KKeye

Series A in 2007
KKeye, Inc. is a China-based company that specializes in the development and marketing of online advertising tracking software. It offers an internet advertising marketing platform that utilizes big data technology to optimize advertising and marketing strategies. By providing enterprise services, KKeye enables businesses to enhance customer attraction and drive revenue growth through effective online marketing solutions.

Jingshi Wanwei

Series A in 2007
KKeYe, a self-owned brand of Jingshi Wanwei Software, is a Chinese search marketing service provider that scientifically improves the cost-performance ratio of online advertising based on the analysis of massive advertising data. KKeYe is the only company in China that scientifically improves the cost-performance ratio of online advertising based on the monitoring and analysis 5 search engines, 631 internet media, 9231 channels, and 18 forms of online advertisements. It also provides deep search marketing services for customers relying on core technologies. It has a number of patented technologies to its own name, and has won the title of national high-tech enterprise in 2010. Established in 2007, KKeYe received capital funding from IDG.

KKeye

Angel Round in 2007
KKeye, Inc. is a China-based company that specializes in the development and marketing of online advertising tracking software. It offers an internet advertising marketing platform that utilizes big data technology to optimize advertising and marketing strategies. By providing enterprise services, KKeye enables businesses to enhance customer attraction and drive revenue growth through effective online marketing solutions.

RGYUN

Series A in 2006
RGYUN is a developer of a mobile Private Marketplace (PMP) trading platform specializing in soft advertisements. The company offers a Software as a Service (SaaS) solution tailored for middle and large media enterprises, facilitating advertising transaction services. RGYUN's platform enables media organizations to create customized PMP environments, allowing for efficient real-time bidding on advertising space. By streamlining the advertising process, RGYUN supports businesses in optimizing their advertising strategies and enhancing their market presence.

Tiansheng

Series A in 2006
Tiansheng Digital TV Development Co., Ltd. is a professional institution dedicated to the national marketing and promotional activities of the European football channel of Guangdong Television. TianSheng deployed the entire plan for the operation and development of the European football channel, starting from when the channel first entered the cable network in different regions, to developing specific market promotion planning activities in various regions for the channel and carrying out marketing by recruiting agents. TianSheng also invests huge funds into large scale advertisements, ground activities, and other promotional activities, in order to improve the brand of European football channels and create new operation modes for China’s digital TV paid channels.

Yadi

Series A in 2006
Yadi is a brand integration marketing company based on mainstream media brand communication services. It is the pulse of industry development and accelerates the change of thinking from large screens to small screens.

Allyes Advertisement Network

Series B in 2005
Allyes Advertisement Network is a professional interactive network marketing services company that offers comprehensive network advertising technology, online marketing and effect marketing services. Allyes is the first enterprise to engage in network advertising software development in China. Its software product series AdForward possesses its own property right, trademark privilege, software enterprise certificate, and software test certificate, and covers advertisement distribution, governance, originality, orientation, and effect assessment. This software series is now being used by hundreds of commercial websites and advertising companies and occupies more than 80% of the Chinese market.

Heidi Coast Advertising

Series A in 2005
Heidi Coast Advertising Co., Ltd. is a Chinese company focused on the development and operation of campus media integrated marketing solutions. Heidi Coast Advertising’s leading brand, “China Campus Media,” covers new media such as campus video, campus outdoor, campus activity, CC176.com, and more. By cooperating with educational institutions and major domestic media organizations, the company spreads news, entertainment, programs, and advertisement information in universities and colleges, with students as the main audience group. It covers 18 economically developed cities and over 330 colleges and universities in China. It influences over 5 million people daily and maintains a campus broadcasting network.

Framedia Advertising

Venture Round in 2004
Shanghai Framedia Advertising Development Co., Ltd. specializes in in-elevator poster advertising services across China. The company was formed through the merger of nine entities, including Original Framedia and Lead Advertising, and has established branches in major cities such as Beijing, Shanghai, Guangzhou, Shenzhen, and Wuhan. With a dedicated team of over 400 professionals, Framedia delivers media services for more than 300 domestic and international brands. In October 2005, Framedia became a wholly-owned subsidiary of Focus Media, a leading operator in outdoor advertising video, enhancing its capabilities and market reach.

Tencent

Seed Round in 2000
Founded in 1998, Tencent is a leading global technology company based in China. It operates the world's largest game publishing business and owns WeChat, one of the most widely used messaging apps globally with over 1 billion users. The company offers a range of services including social networking, gaming, fintech, cloud computing, online advertising, and digital content.

Allyes Advertisement Network

Series A in 2000
Allyes Advertisement Network is a professional interactive network marketing services company that offers comprehensive network advertising technology, online marketing and effect marketing services. Allyes is the first enterprise to engage in network advertising software development in China. Its software product series AdForward possesses its own property right, trademark privilege, software enterprise certificate, and software test certificate, and covers advertisement distribution, governance, originality, orientation, and effect assessment. This software series is now being used by hundreds of commercial websites and advertising companies and occupies more than 80% of the Chinese market.

Sohu.com

Series A in 1998
Sohu.com is a Chinese online media, games, and search company operating a network of web properties and an in-house search engine. Its offerings span online brand advertising, content and services across a matrix of sites including sohu.com, sogou.com, 17173.com, focus.cn, changyou.com, and tv.sohu.com, plus mobile news apps and portals. The company also develops and operates online games through its Changyou segment, with titles such as Tian Long Ba Bu, DDTank and Wartune. Sohu enables user-generated content and social interaction on its platforms and earns revenue from online advertising, information services, and gaming. Founded in 1995, the company expanded to mobile and video, becoming a key provider of Chinese online media, search, and gaming experiences for millions of users daily.
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