Xiaohui Cao

Partner

Guangfu Cui

Partner

Jun Fang

Partner

Mei Gao

Partner

Young Guo

General Partner

Simon Ho

CFO

Ning Kang

Managing Director

Jianguang Li

Venture Partner

Meng Lian

Partner

Dongliang Lin

Partner

Yikun Liu

Partner

Michelle Ma

Partner

Patrick McGovern

Founder and Chairman

Kuiguang Niu

Partner

Hui Shao

Entrepreneur-In-Residence

Hugo Shong

Founding Chairman

Chen Tong

Partner

Jeacy Yan

Partner

Xinhua Yu

Partner

Jin Yu Ph.D

Partner

Antony Yung

Partner

Jianbin Zhang

Venture Partner

Haitao Zhang

Managing Director

Peter Zhang Ph.D

Vice President

Zhiyong Zhen

Principal

Quan Zhou

Managing Partner

Jian Zhu

Venture Partner

Fei Yang

Director of IPO Division

Past deals in E-commerce

Shumeiwuwu

Seed Round in 2025
Shumeiwuwu is a cross-border e-commerce company that provides quality goods and services to consumers through global shopping.

Dianzhuo

Seed Round in 2024
Dianzhuo is a digital retail company that specializes in providing international and imported electrical appliances.

Coin Mart

Seed Round in 2024
Coin Mart enables buying anything on Amazon with crypto stablecoins.

Shumeiwuwu

Seed Round in 2024
Shumeiwuwu is a cross-border e-commerce company that provides quality goods and services to consumers through global shopping.

Neopets

Venture Round in 2023
Neopets operates an online virtual world where users create and care for virtual pets. Players must keep their pets healthy, fed, and in good spirits as they explore themed locations, complete quests, and play games to earn rewards. The environment includes diverse areas such as a battledome, an undersea city, a desert, and a space station, offering missions, puzzles, and social interactions. In-game activities award Neopoints, the virtual currency, and players can trade items at marketplaces or engage in an in-world economy that includes a stock market. The platform supports a free-to-play experience with an optional subscription service, Neopets Premium, which provides enhanced features. Neopets emphasizes exploration, collection, and problem-solving within a safe virtual setting, appealing to children and fans of virtual worlds.

Miracle Miles tech

Series A in 2022
Miracle Miles tech is a footwear and clothing enterprise that owns five independent brands.

Xingyun Digital Technology

Series A in 2022
Hangzhou Xingyun Digital Technology is a developer of a software-as-a-service (SaaS) platform focused on private domain intelligent marketing. The company aims to assist retail brands in their digital transformation efforts, leveraging nearly a decade of experience in digital marketing within the e-commerce sector. Its expertise culminated in the creation of a comprehensive solution for private domain marketing tailored to the WeChat ecosystem. Xingyun has launched various modular products, including a Customer Data Platform, Enterprise WeChat SCRM, and a Big Data Development Platform. The company's flagship offering, Xingyun Youke, integrates these capabilities to meet customer needs effectively. By providing professional e-commerce services, Xingyun empowers brand merchants to harness WeChat's extensive capabilities and big data insights, facilitating the establishment of a private traffic pool that enhances user engagement, increases traffic flow, and boosts sales revenue.

Pupumall

Venture Round in 2021
Pupumall is an online platform based in Fuzhou, China, specializing in the instant delivery of a diverse range of food products. Founded in 2016, the company enables customers to conveniently order groceries online, including fruits, vegetables, meat, poultry, dairy, seafood, grains, oils, beverages, snacks, and daily necessities. Pupumall's innovative platform connects individual customers with local delivery riders, facilitating quick and efficient delivery. This model not only enhances the grocery shopping experience for consumers but also optimizes warehousing and distribution processes for vendors, making it a key player in the online grocery market.

OSUGA

Series A in 2021
Osuga is a sexual wellness brand.

Hutouju

Series A in 2021
Hutouju is a Chinese dessert retailer that operates both retail locations and online stores. It offer customers tasty products with a Chinese style.

Baman

Series C in 2021
Baman is a company based in China that specializes in producing and delivering packaged beef rice noodles. It operates a chain of offline restaurants focused on Hunan cuisine, with an emphasis on engaging the youth demographic. In addition to its restaurant operations, Baman offers retail, e-commerce, and catering services, aiming to preserve and promote the culinary traditions of Hunan among younger generations.

Doublefs

Series A in 2021
e-commerce fashion platform

Cider

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

Firework

Series A in 2021
Firework provides a video commerce platform that enables businesses to stream videos directly on their websites. Its features include in-video shopping, lead generation, live streaming events, and AI-powered video assistants, allowing brands to engage visitors and boost conversions.

WOW COLOUR

Series A in 2021
WOW COLOUR is a professional beauty and personal care retailer based in China. The company operates stores that offer a wide array of cosmetic products, including makeup, skincare, perfume, and beauty tools. By providing a diverse selection of various beauty brands, WOW COLOUR aims to create a one-stop shopping experience for customers seeking quality beauty products.

WeiPaiTang

Series B in 2021
WeiPaiTang is an eCommerce platform specializing in the auction of cultural and artistic goods, particularly antiques and artworks. The company has innovated within the wenwan auction industry by introducing a live auction model that enhances user engagement and convenience. Through its online store, WeiPaiTang offers a diverse array of products, including calligraphy, jade jewelry, tea wine tonic, and sand ceramics. By facilitating trade through live streaming, the platform provides a modern approach to buying and selling antique artwork and paintings, catering to a growing market of collectors and enthusiasts.

Hutouju

Seed Round in 2021
Hutouju is a Chinese dessert retailer that operates both retail locations and online stores. It offer customers tasty products with a Chinese style.

Bizongo

Series C in 2021
Bizongo is a tech-enabled B2B e-commerce and supply chain platform specializing in customized goods, including packaging, textiles, and apparel. Founded in 2015 by three IIT graduates, the company aims to digitize the fragmented B2B segment of made-to-order products. Bizongo offers a comprehensive suite of services such as digital vendor management, supply chain automation, and supply chain financing. Its platform connects businesses with a network of over 1,500 curated manufacturers, addressing key challenges like inventory management and operational efficiency. Through its innovative approach, Bizongo seeks to streamline the supply chain process, reduce costs, and facilitate easier contract management for its clients.

Dmall

Series C in 2020
Dmall is a cloud-based, end-to-end SaaS platform for local retailers and brand owners in China and Asia. Its offerings include a retail core service cloud, an e-commerce service cloud, and a marketing and advertising service cloud, all designed to improve operations, sales, and customer experiences. Built on Dmall OS and AIoT, the platform provides integrated data insights across retail activities to guide actionable improvements. The three clouds work together to deliver a one-stop solution for streamlined operations, commerce, and marketing. Dmall is positioned as a leader in retail digitalization, addressing core needs such as upgrading consumer experience, increasing operational efficiency, safeguarding system security, and supporting ESG responsibilities.

D2CMALL.COM

Series D in 2020
D2CMALL.COM is an e-commerce platform for fashion and beauty products. It combines trendy fashion, cutting-edge art, and personalized design, and it collects the most plentiful, novel, and high-quality women's clothing. Menswear, shoes, bags, and fashion accessories are all available. The official website offers private customized brands in addition to the limited pre-sale of designer products. The D2C designer integration store is now open throughout the country.

Cider

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

Quansu Zaixian

Angel Round in 2020
Quansu Zaixian is a China-based fast fashion export e-commerce brand.

Xiongmao Cake

Series A in 2020
Founded in Huizhou – a third-tier city in Guangdong Province– in 2017, Xiongmao Cake provides a cake baking and delivering service with an ‘online order + warehouse journey’ model. In less than two years, the business quickly spread to 10 second- and third-tier cities across Guangdong, Fujian and Sichuan provinces.

Zhizun Baowu

Series A in 2020
Zhizun Baowu is a developer of a mobile eCommerce platform focused on precious collectibles, including jade items and tea sets. The company provides a secure and user-friendly marketplace that facilitates trading between businesses and collectors. In addition to its eCommerce services, Zhizun Baowu offers blockchain traceability and image identification services, ensuring authenticity and transparency in transactions. The company's approach integrates physical collections with online storage, enabling comprehensive identification, data management, and digital collection issuance. Through these services, Zhizun Baowu aims to enhance the trading experience and promote trust in the collectibles market.

HyperSKU

Series A in 2020
HyperSKU is a dropshipping supplier that provides an online platform designed to assist dropshippers and small to medium-sized businesses in optimizing their eCommerce operations. The company offers a diverse range of products, including women's clothing, pet supplies, consumer electronics, health and beauty items, as well as home and kitchen goods. Its platform features a dynamic supplier database for efficient product sourcing, real-time synchronization with clients' stores, and express international shipping at competitive rates. By simplifying the sourcing and fulfillment processes, HyperSKU enables dropshippers to quickly fulfill orders and deliver products to customers reliably and efficiently.

Freemud

Series B in 2019
Freemud is a technology company that specializes in providing a smart retail operation platform designed for various sectors, including catering, convenience stores, and cosmetics. The company offers a low-code, low-cost platform as a service (PaaS) that enables businesses to develop customized, cloud-native digital applications. Freemud's solutions facilitate efficient digital payment processing and enhance operational capabilities for retailers and restaurants, allowing them to manage member assets throughout the customer lifecycle. By improving the consumption experience and fostering customer loyalty, Freemud helps businesses realize greater value through their digital transactions and interactions.

Fapiaoer

Series B in 2019
Fapiaoer is a Chinese electronic invoicing service provider under Tencent-backed Chinese project incubator and group-buying platform GaoPeng. Based on a variety of business success stories, with a strong operating, technical, product team, Gao Peng internal restructuring team to provide electronic invoicing services in an effort to create the most convenient and most reasonable electronic invoice preparation, preservation, and reimbursement experience for users. , Tencent and U.S. GROUPON Each group invested 50 million U.S. dollars to develop a group purchasing business company to become: Wechat commercialization project incubation platform, Tencent eco-layout early investment platform, Group purchasing model integration optimization of new e-commerce platform and other three business lines go hand in hand with diversified technology The company, currently Tencent, is the single largest shareholder of Gao Peng.

Club Factory

Series D in 2019
Club Factory is an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. By leveraging big data and artificial intelligence, the company scans the internet to identify factories that sell products on various platforms such as Wish, eBay, and Amazon. This allows Club Factory to compare prices from multiple sources, ultimately presenting customers with the lowest available prices. In addition to enhancing the shopping experience for consumers, the company also provides supply chain management solutions for enterprises, enabling them to optimize their operations and improve cost efficiency.

Plum

Series B in 2019
Plum is an e-commerce platform for second-hand fashion products. It works as a one-stop consignment service platform that provides filming, sales, customer service, sale, and a full set of consignment services.

Webuy Group

Series C in 2019
Webuy Group, established in 2017 and headquartered in Hangzhou, China, operates as a community-based e-commerce platform focused on apparel. The company owns several brands, including Shaking Baby and Haoyiku. Webuy Group utilizes a social e-commerce model that connects consumers with brands through WeChat, China's leading social media application. This platform allows merchants to share product links directly within their social networks, facilitating immediate purchases. By leveraging trust built through these networks, Webuy Group enhances customer engagement and offers features such as quick payment settlements and low return rates. Additionally, the company provides ongoing training to support business improvement, helping partner brands manage inventory effectively while enabling individual merchants to reach their customers more efficiently.

Yicang Youpin

Angel Round in 2019
Henan Yicang Youpin Department Store Co., Ltd. is a Chinese retailer that specializes in the online sale of various apparel brands, including clothing, footwear, and children's wear. Established in 2016, the company focuses on promoting domestic brands and operates under a multi-brand strategy that integrates both physical and online retail channels. Its business model emphasizes a new retail format, linking stores with e-commerce to foster a consumer ecosystem. With its headquarters in Xinxiang, Yicang Youpin aims to expand its reach across the country, particularly in third- and fourth-tier cities, through franchise brand collection discount stores and centralized sales strategies. The company supports small local businesses by providing low-cost entry points for aspiring entrepreneurs to launch their own apparel shops, thereby enhancing consumer choices and driving brand promotion.

T11 Food Market

Series A in 2019
T11 Food Market operates a retail supermarket that provides fresh groceries through both an online platform and physical stores. The company utilizes smart retail technology to enhance supply chain operations, ensuring the delivery of high-quality fresh food products. By combining online accessibility with offline shopping experiences, T11 Food Market aims to offer customers a safe and efficient way to obtain fresh groceries.

RentoMojo

Series C in 2019
RentoMojo is an online furniture rental platform founded in 2014 in India that enables customers to furnish homes through a rental model rather than purchase. It operates in major cities including Bangalore, Pune, Mumbai, Hyderabad, Chennai, Delhi, Gurgaon and Noida, offering a flexible option for people moving between rented accommodations by providing a range of furniture and related items on short- to long-term terms.

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.

Firework

Series A in 2019
Firework provides a video commerce platform that enables businesses to stream videos directly on their websites. Its features include in-video shopping, lead generation, live streaming events, and AI-powered video assistants, allowing brands to engage visitors and boost conversions.

Jijixian

Series A in 2019
Jijixian is a fresh produce e-commerce and delivery service provider based in Wuhan, China. The company specializes in offering a wide range of grocery products, including fruits, vegetables, meat, eggs, seafood, grains, and seasonings. Jijixian is known for its efficient logistics, featuring a 30-minute fast delivery service that caters to the needs of consumers looking for convenient access to fresh food. Through its platform, Jijixian aims to enhance the shopping experience for customers seeking quality produce delivered directly to their doorstep.

Shuashuakan

Angel Round in 2019
Beijing Shuashuakan Network Technology Co., Ltd. is a company that specializes in a short-video e-commerce application designed for user engagement in shopping and content sharing. Founded in 2018 and based in Beijing, China, the platform allows users to share their shopping experiences, consume short videos, and interact by commenting on content uploaded by others. This consumer experience video platform aims to enhance the shopping experience through short-form video content, creating a community where users can connect over shared interests in products and services.

Songshu Pinpin

Series B in 2019
Songshu Pinpin is a group-buying e-commerce platform that facilitates the collective purchasing of daily necessities through the WeChat app. The company focuses on providing high-quality essential items at affordable prices, aiming to enhance the quality of life for families within communities. Users can conveniently place orders in groups, which are then processed and delivered to designated community pick-up locations. By simplifying the shopping experience, Songshu Pinpin enables families to access necessary goods more efficiently and economically.

Jusda

Series A in 2019
Jusda International Supply Chain Management Co., Ltd., founded in 2000 and based in Shenzhen, China, specializes in providing comprehensive supply chain management services. The company serves as a platform for freight and logistics solutions, including e-commerce supply chain services on an international scale. As a key service provider for Foxconn Technology Group, Jusda is focused on enhancing the efficiency and professionalism of supply chain management through advanced technology and research and development. Its innovative business model integrates multiple flows—trading, goods, information, capital, technology, and processes—aiming to streamline operations and drive growth within the supply chain sector.

DealeXtreme

Series A in 2019
DX is a consumer e-commerce retailer that sells its products through website. Their product categories such as phones, accessories, consumer electronics, computers, office products, automobiles, motorcycles, electrical products, tools, lights, home products, garden products, sports, outdoor, apparel, watches, security, appliances, beauty products, health products, shoes, bags, and hairs extensions.

Freemud

Series A in 2018
Freemud is a technology company that specializes in providing a smart retail operation platform designed for various sectors, including catering, convenience stores, and cosmetics. The company offers a low-code, low-cost platform as a service (PaaS) that enables businesses to develop customized, cloud-native digital applications. Freemud's solutions facilitate efficient digital payment processing and enhance operational capabilities for retailers and restaurants, allowing them to manage member assets throughout the customer lifecycle. By improving the consumption experience and fostering customer loyalty, Freemud helps businesses realize greater value through their digital transactions and interactions.

Songshu Pinpin

Series A in 2018
Songshu Pinpin is a group-buying e-commerce platform that facilitates the collective purchasing of daily necessities through the WeChat app. The company focuses on providing high-quality essential items at affordable prices, aiming to enhance the quality of life for families within communities. Users can conveniently place orders in groups, which are then processed and delivered to designated community pick-up locations. By simplifying the shopping experience, Songshu Pinpin enables families to access necessary goods more efficiently and economically.

Webuy Group

Series B in 2018
Webuy Group, established in 2017 and headquartered in Hangzhou, China, operates as a community-based e-commerce platform focused on apparel. The company owns several brands, including Shaking Baby and Haoyiku. Webuy Group utilizes a social e-commerce model that connects consumers with brands through WeChat, China's leading social media application. This platform allows merchants to share product links directly within their social networks, facilitating immediate purchases. By leveraging trust built through these networks, Webuy Group enhances customer engagement and offers features such as quick payment settlements and low return rates. Additionally, the company provides ongoing training to support business improvement, helping partner brands manage inventory effectively while enabling individual merchants to reach their customers more efficiently.

Haoyiku

Series B in 2018
Haoyiku is a Hangzhou-based community-based e-commerce platform focused on apparel. Founded in 2017 by Qiangqiang Wu, the company operates a S2b2C model that connects platform, brands, buying agents, and consumers through social networks and the WeChat ecosystem. The platform enables partner brands to off-load inventory and allows individual merchants to sell products to their social networks, offering rapid payment settlement, broad customer reach, a low purchase return rate, and ongoing business training to improve performance.

Akulaku

Series C in 2018
Akulaku is a Southeast Asia fintech platform that provides online credit and digital financial services. Founded in 2016 and based in Jakarta, Indonesia, it serves customers across Indonesia, the Philippines, and Malaysia with digital banking, digital financing, digital investment, and insurance brokerage offerings. The company operates a virtual credit card and ecommerce platform, as well as Asetku, an online wealth management service, and a mobile neobank supported by Bank Neo Commerce. It focuses on meeting the daily financial needs of underserved customers in emerging markets and aims to reach about 50 million users across Southeast Asia by 2025.

Letus Legend

Series B in 2018
Letus Legend, established in 2015 and based in Hefei, China, operates a chain of supermarkets specializing in the sale of fresh food and kitchen supplies. The company also offers an online application for purchasing its products and provides home delivery services to enhance customer convenience.

T11 Food Market

Angel Round in 2018
T11 Food Market operates a retail supermarket that provides fresh groceries through both an online platform and physical stores. The company utilizes smart retail technology to enhance supply chain operations, ensuring the delivery of high-quality fresh food products. By combining online accessibility with offline shopping experiences, T11 Food Market aims to offer customers a safe and efficient way to obtain fresh groceries.

VETRESKA

Series A in 2018
VETRESKA is a brand dedicated to creating innovative pet supplies for cats and dogs. Established in 2017, the company focuses on designing unique pet products that combine fun and functionality with quality craftsmanship. VETRESKA offers a range of items including organic pet food, toys, and resting areas, all aimed at enhancing pets' lifestyles. The brand draws inspiration from people's lives to create designs that allow pet lovers to share everyday joys with their companions.

VETRESKA

Series A in 2018
VETRESKA is a brand dedicated to creating innovative pet supplies for cats and dogs. Established in 2017, the company focuses on designing unique pet products that combine fun and functionality with quality craftsmanship. VETRESKA offers a range of items including organic pet food, toys, and resting areas, all aimed at enhancing pets' lifestyles. The brand draws inspiration from people's lives to create designs that allow pet lovers to share everyday joys with their companions.

Dudao Keji

Angel Round in 2018
Doodod solution for general industry, channel retail, branded retail, commercial real estate, financial banking, and community e-commerce. The company is focusing on the field of big data and social consumption scenarios.

Firework

Series A in 2018
Firework provides a video commerce platform that enables businesses to stream videos directly on their websites. Its features include in-video shopping, lead generation, live streaming events, and AI-powered video assistants, allowing brands to engage visitors and boost conversions.

MagMode

Series C in 2018
MagMode is a men's fashion brand incubator. The company has opened three stores in Beijing, and plans to open more in other major cities in China. It also operates a mobile app featuring the latest international fashion trends and concepts. Initiated by editor-in-chief of the world’s top fashion magazine, fashion director, writer and artist, Magmode collaborates each season with fashion publishers, artists and designers from fashion’s origins including Europe and Japan in order to find and select the most promising designers of the season. Given proper consideration to subtle details, each collection is tailored to best fit Asian figures. By offering a cultural initiative to discuss possibilities of life, Magmode redefines fashion boutique through various means including workshops, photos, videos and publications, with absolute dedication to become an incubator and advocate for fashion and culture. Founded in 2015 by Cai Chongda, the company is headquartered in Minhang, Shanghai, China.

Meiwo

Series A in 2018
Meiwo is a real estate company that operates an online shopping platform focused on furniture and home decorating products. Through its website, Meiwo offers a wide range of items including home textiles, furniture, lighting fixtures, and other decorative pieces, providing customers with the convenience of ordering home decor from their homes. In addition to its online presence, Meiwo maintains 40 physical retail locations to cater to consumers who prefer in-person shopping experiences.

Haoyiku

Series B in 2018
Haoyiku is a Hangzhou-based community-based e-commerce platform focused on apparel. Founded in 2017 by Qiangqiang Wu, the company operates a S2b2C model that connects platform, brands, buying agents, and consumers through social networks and the WeChat ecosystem. The platform enables partner brands to off-load inventory and allows individual merchants to sell products to their social networks, offering rapid payment settlement, broad customer reach, a low purchase return rate, and ongoing business training to improve performance.

Opera Software AS

Post in 2018
Opera is a global web innovator with an engaged and growing base of hundreds of millions of monthly active users who seek a better internet experience. Building on over 25 years of innovation that started with browser products, Opera is now leveraging its brand and highly engaged user base in order to expand its business into new segments. Today, Opera offers users around the world a range of products and services that include PC and mobile browsers, the newsreader Opera News, and apps dedicated to gaming, crypto, e-commerce and classifieds. Opera Software AS was established in 1995 by Jon S. von Tetzchner in Oslo, Norway.

V Xiaoke

Series A in 2018
E-commerce

Webuy Group

Series B in 2018
Webuy Group, established in 2017 and headquartered in Hangzhou, China, operates as a community-based e-commerce platform focused on apparel. The company owns several brands, including Shaking Baby and Haoyiku. Webuy Group utilizes a social e-commerce model that connects consumers with brands through WeChat, China's leading social media application. This platform allows merchants to share product links directly within their social networks, facilitating immediate purchases. By leveraging trust built through these networks, Webuy Group enhances customer engagement and offers features such as quick payment settlements and low return rates. Additionally, the company provides ongoing training to support business improvement, helping partner brands manage inventory effectively while enabling individual merchants to reach their customers more efficiently.

Haoyiku

Series A in 2018
Haoyiku is a Hangzhou-based community-based e-commerce platform focused on apparel. Founded in 2017 by Qiangqiang Wu, the company operates a S2b2C model that connects platform, brands, buying agents, and consumers through social networks and the WeChat ecosystem. The platform enables partner brands to off-load inventory and allows individual merchants to sell products to their social networks, offering rapid payment settlement, broad customer reach, a low purchase return rate, and ongoing business training to improve performance.

Webuy Group

Series A in 2018
Webuy Group, established in 2017 and headquartered in Hangzhou, China, operates as a community-based e-commerce platform focused on apparel. The company owns several brands, including Shaking Baby and Haoyiku. Webuy Group utilizes a social e-commerce model that connects consumers with brands through WeChat, China's leading social media application. This platform allows merchants to share product links directly within their social networks, facilitating immediate purchases. By leveraging trust built through these networks, Webuy Group enhances customer engagement and offers features such as quick payment settlements and low return rates. Additionally, the company provides ongoing training to support business improvement, helping partner brands manage inventory effectively while enabling individual merchants to reach their customers more efficiently.

ZaiLouXia

Series A in 2018
Beijing ZaiLouXia Technology Co., Ltd. operates an unmanned convenience store that specializes in offering a range of products, including snacks, fresh produce, and groceries. The company has also developed a public refrigerator aimed at enhancing the quality of life for individuals by providing a safe and reliable food supply chain. This innovative refrigerator facilitates self-service shopping, reduces delivery and packaging costs, and enhances community security. By focusing on convenience and accessibility, ZaiLouXia enables customers to easily purchase fresh food products, contributing to a more efficient and sustainable shopping experience.

ezbuy Holdings

Series C in 2018
ezbuy Holdings Limited is a prominent online marketplace based in Singapore, established in 2010. It specializes in cross-border e-commerce and serves as the largest such platform in Southeast Asia. The company connects consumers to an extensive range of products, including apparel, home furnishings, electronics, and beauty items from various international sources, including China, the USA, Korea, and local merchants. To enhance customer experience, ezbuy offers several innovative features, such as a subscription service that allows for flat-rate shipping, product reviews for informed purchasing decisions, and a same-day delivery option. Operating across Singapore, Malaysia, Thailand, and Indonesia, ezbuy focuses on providing a convenient and cost-effective shopping experience through its website and mobile application, which support multiple languages.

Circle

Series E in 2018
Circle is a financial technology firm established in 2013 by Jeremy Allaire and Sean Neville, headquartered in Boston, with additional offices in New York, San Francisco, Dublin, London, and Hong Kong. The company leverages blockchain technology to facilitate payments and e-commerce through stablecoins and its Circle Pay platform, streamlining the process of sending money. Circle offers a range of services, including Circle Invest, which allows users to buy and sell cryptocurrency assets, and Circle Trade, which provides over-the-counter trading services with access to one of the largest global liquidity pools for digital asset trading, averaging $2 billion in monthly volume. Backed by prominent investors such as Goldman Sachs and Accel Partners, Circle positions itself as a key player in the global internet finance sector, focused on integrating crypto assets into mainstream financial applications.

PatPat

Series C in 2018
PatPat is an online shopping platform specializing in baby and maternity products. It offers daily deals on a wide range of items at significantly discounted prices, often up to 90% off, through direct partnerships with manufacturers.

Xian Lai Duo

Series A in 2018
E-commerce

SEE Xiaodianpu

Series C in 2018
SEE Xiaodiaopu is a content commercialization alliance and small program e-commerce SaaS service platform. SEE helps thousands of people create "small program stores" and establishes a channel for the brand to enter WeChat and reach new users. SEE also helps with brand sales and reputation through content communication and marketing. SEE has partnered with more than 1000 brands, covering beauty, home, snacks, fashion, and curriculum categories. In addition, SEE has established exclusive cooperation with dozens of WeChat brands.

V Xiaoke

Angel Round in 2018
E-commerce

Mili Shenghuo

Angel Round in 2018
Mili Shenghuo is a developer of an e-commerce platform designed to let offline stores to create their online stores.

CargoGM

Seed Round in 2018
CargoGM offers an integrated logistics management platform for large retailers. It provides upstream and downstream enterprises with intelligent SaaS software built on cloud computing, big data, and mobile internet technologies, along with online logistics resource transaction services.

Xianshiji

Series B in 2018
Xianshiji is an e-commerce platform.

Club Factory

Series C in 2018
Club Factory is an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. By leveraging big data and artificial intelligence, the company scans the internet to identify factories that sell products on various platforms such as Wish, eBay, and Amazon. This allows Club Factory to compare prices from multiple sources, ultimately presenting customers with the lowest available prices. In addition to enhancing the shopping experience for consumers, the company also provides supply chain management solutions for enterprises, enabling them to optimize their operations and improve cost efficiency.

T She Dingzhi

Series A in 2018
T She Dingzhi offers a platform for clothes design. Their business enables additional, fully-customizable t-shirts, hoodies, and sweaters to its clients. Through responsible, managed services, subscription cultural apparel, and other means, they are dedicated to assisting businesses in improving their services. It adapts and pursues accuracy and exquisite, repeatedly setting the bar for the sector.

Fapiaoer

Series A in 2018
Fapiaoer is a Chinese electronic invoicing service provider under Tencent-backed Chinese project incubator and group-buying platform GaoPeng. Based on a variety of business success stories, with a strong operating, technical, product team, Gao Peng internal restructuring team to provide electronic invoicing services in an effort to create the most convenient and most reasonable electronic invoice preparation, preservation, and reimbursement experience for users. , Tencent and U.S. GROUPON Each group invested 50 million U.S. dollars to develop a group purchasing business company to become: Wechat commercialization project incubation platform, Tencent eco-layout early investment platform, Group purchasing model integration optimization of new e-commerce platform and other three business lines go hand in hand with diversified technology The company, currently Tencent, is the single largest shareholder of Gao Peng.

Songxiaocai

Series B in 2018
Songxiaocai is a mobile Internet platform that facilitates the trading of agricultural products through an online B2B marketplace. It provides a range of services, including vegetable picking, distribution, and after-sales support, specifically tailored for small and medium-sized retailers. By offering comprehensive solutions that encompass information retrieval, purchasing, and efficient distribution, Songxiaocai enables farmers, wholesalers, and retailers to conduct their business operations more effectively.

Jiuhuar

Series A in 2018
Jiuhuar is a Chinese distribution company that focuses on exporting San Diegan craft beer. In addition to its distribution services, Jiuhuar operates an online platform that offers extensive information about craft beer, including ratings and reviews. The company aims to foster a vibrant craft beer culture in China by providing detailed insights into over twenty-three thousand craft beer selections, supported by more than two hundred thousand independent reviews. Through its efforts, Jiuhuar contributes to the growing appreciation of craft beer among Chinese consumers.

Meituan

Series F in 2017
Meituan, established in 2010 and headquartered in Beijing, China, operates a comprehensive online platform offering retail and group buying services. It specializes in delivering Chinese food from local restaurants and provides online group discounts for a wide range of sectors, including movies, groceries, restaurants, entertainment, and health/fitness. As of 2020, Meituan holds a dominant 70.7% share in China's food delivery market. Its revenue streams are primarily derived from on-demand services (58%), hotel booking, coupon sales, and advertising (17%), with new initiatives contributing the remaining 25%. These new initiatives, such as community group buying and non-food delivery, are poised to transform Meituan into a broader grocer and logistics business, potentially surpassing food delivery as its primary focus.

Plum

Series A in 2017
Plum is an e-commerce platform for second-hand fashion products. It works as a one-stop consignment service platform that provides filming, sales, customer service, sale, and a full set of consignment services.

YCloset

Series C in 2017
YCloset was an online clothing rental platform based in Beijing, founded in 2015. The company offered a subscription service that allowed users to rent women's clothing and accessories for a monthly fee, with no additional charges for individual items. Operating in approximately 40 cities across China, including major urban centers like Beijing, Shanghai, Guangzhou, and Shenzhen, YCloset partnered with over a hundred fashion brands to provide a diverse selection of apparel. The platform was accessible via mobile applications, enabling users to keep pace with the latest fashion trends without the need to purchase new garments. However, YCloset announced the closure of its operations by August 15, 2021.

Epet.com

Series B in 2017
Epet is a chinese e-commerce platform that sells pet-related food products and other services.

RentoMojo

Series B in 2017
RentoMojo is an online furniture rental platform founded in 2014 in India that enables customers to furnish homes through a rental model rather than purchase. It operates in major cities including Bangalore, Pune, Mumbai, Hyderabad, Chennai, Delhi, Gurgaon and Noida, offering a flexible option for people moving between rented accommodations by providing a range of furniture and related items on short- to long-term terms.

Lianshang

Series C in 2017
Lianshang is an online platform dedicated to fabric trading, designed to facilitate business-to-business transactions in the textile industry. The platform provides fabric manufacturers with a channel to bid for orders, streamlining the procurement process. It offers a range of services, including fabric purchasing, inspection and testing, and logistics support. Additionally, Lianshang's mobile application enhances user experience by allowing customers to identify fabric colors and place orders directly with manufacturers. This approach enables a more efficient and direct purchasing process for fabrics, benefiting both buyers and sellers in the market.

Akulaku

Series B in 2017
Akulaku is a Southeast Asia fintech platform that provides online credit and digital financial services. Founded in 2016 and based in Jakarta, Indonesia, it serves customers across Indonesia, the Philippines, and Malaysia with digital banking, digital financing, digital investment, and insurance brokerage offerings. The company operates a virtual credit card and ecommerce platform, as well as Asetku, an online wealth management service, and a mobile neobank supported by Bank Neo Commerce. It focuses on meeting the daily financial needs of underserved customers in emerging markets and aims to reach about 50 million users across Southeast Asia by 2025.

Zaozuo

Series B in 2017
Zaozuo is a Chinese company that specializes in designing and manufacturing modern furniture products. Its offerings include a range of items such as the New Deep Sea Sleeping Mattress, Minimalist Soft beds, and Half Moon Bay Smart Electric Beds. In addition to these products, Zaozuo also provides log wall hanging boxes, along with online shopping and delivery services. The company aims to enhance the creativity and quality of household furniture, catering to a diverse clientele seeking contemporary design solutions.

MagMode

Series B in 2017
MagMode is a men's fashion brand incubator. The company has opened three stores in Beijing, and plans to open more in other major cities in China. It also operates a mobile app featuring the latest international fashion trends and concepts. Initiated by editor-in-chief of the world’s top fashion magazine, fashion director, writer and artist, Magmode collaborates each season with fashion publishers, artists and designers from fashion’s origins including Europe and Japan in order to find and select the most promising designers of the season. Given proper consideration to subtle details, each collection is tailored to best fit Asian figures. By offering a cultural initiative to discuss possibilities of life, Magmode redefines fashion boutique through various means including workshops, photos, videos and publications, with absolute dedication to become an incubator and advocate for fashion and culture. Founded in 2015 by Cai Chongda, the company is headquartered in Minhang, Shanghai, China.

Xiaolu Clinic

Series B in 2017
Xiaolu Clinic is a Beijing-based business established in 2016, specializing in an online platform that connects traditional Chinese medicine practitioners with patients. It offers online consultations for individuals seeking treatment for chronic diseases or general wellness improvement, providing herbal remedies and dietary recommendations based on traditional Chinese medicine principles. The platform facilitates patient evaluation by licensed doctors, post-treatment analysis, and health management services for corporate clients such as Baidu Inc., China Life Insurance, and Tencent Holdings Ltd.

Dmall

Series A in 2017
Dmall is a cloud-based, end-to-end SaaS platform for local retailers and brand owners in China and Asia. Its offerings include a retail core service cloud, an e-commerce service cloud, and a marketing and advertising service cloud, all designed to improve operations, sales, and customer experiences. Built on Dmall OS and AIoT, the platform provides integrated data insights across retail activities to guide actionable improvements. The three clouds work together to deliver a one-stop solution for streamlined operations, commerce, and marketing. Dmall is positioned as a leader in retail digitalization, addressing core needs such as upgrading consumer experience, increasing operational efficiency, safeguarding system security, and supporting ESG responsibilities.

Akulaku

Series A in 2017
Akulaku is a Southeast Asia fintech platform that provides online credit and digital financial services. Founded in 2016 and based in Jakarta, Indonesia, it serves customers across Indonesia, the Philippines, and Malaysia with digital banking, digital financing, digital investment, and insurance brokerage offerings. The company operates a virtual credit card and ecommerce platform, as well as Asetku, an online wealth management service, and a mobile neobank supported by Bank Neo Commerce. It focuses on meeting the daily financial needs of underserved customers in emerging markets and aims to reach about 50 million users across Southeast Asia by 2025.

YCloset

Series B in 2017
YCloset was an online clothing rental platform based in Beijing, founded in 2015. The company offered a subscription service that allowed users to rent women's clothing and accessories for a monthly fee, with no additional charges for individual items. Operating in approximately 40 cities across China, including major urban centers like Beijing, Shanghai, Guangzhou, and Shenzhen, YCloset partnered with over a hundred fashion brands to provide a diverse selection of apparel. The platform was accessible via mobile applications, enabling users to keep pace with the latest fashion trends without the need to purchase new garments. However, YCloset announced the closure of its operations by August 15, 2021.

PipeCandy

Seed Round in 2017
PipeCandy Inc. is a predictive sales prospecting platform that focuses on business-to-business sales representatives, primarily within the eCommerce sector. Incorporated in 2015 and headquartered in Mountain View, California, the company offers tools that help users identify suitable companies, contacts, and leads through a combination of algorithms, machine learning, and predictive analytics. Its platform provides insights into various aspects of businesses, such as assortments, business models, and customer experience, allowing users to anticipate critical inflection points. PipeCandy's services are tailored for retail, e-commerce, SaaS, and mobile organizations globally, assisting them in refining marketing strategies, sales efforts, and investment decisions. The platform generates lead lists and supports outbound sales campaigns, enabling users to navigate the competitive landscape more effectively.

iQIYI

Series G in 2017
iQIYI is a leading Chinese online entertainment service provider, offering a wide range of content including internet video, live broadcasting, online literature, animations, e-commerce, and social media platforms. It operates on a subscription-based model with additional revenue from ads, content distribution, gaming, and IP licensing. iQIYI competes directly with major players such as Tencent Video, Youku, MangoTV, and Bilibili.

Akulaku

Series A in 2017
Akulaku is a Southeast Asia fintech platform that provides online credit and digital financial services. Founded in 2016 and based in Jakarta, Indonesia, it serves customers across Indonesia, the Philippines, and Malaysia with digital banking, digital financing, digital investment, and insurance brokerage offerings. The company operates a virtual credit card and ecommerce platform, as well as Asetku, an online wealth management service, and a mobile neobank supported by Bank Neo Commerce. It focuses on meeting the daily financial needs of underserved customers in emerging markets and aims to reach about 50 million users across Southeast Asia by 2025.

Club Factory

Series B in 2017
Club Factory is an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. By leveraging big data and artificial intelligence, the company scans the internet to identify factories that sell products on various platforms such as Wish, eBay, and Amazon. This allows Club Factory to compare prices from multiple sources, ultimately presenting customers with the lowest available prices. In addition to enhancing the shopping experience for consumers, the company also provides supply chain management solutions for enterprises, enabling them to optimize their operations and improve cost efficiency.

Hunan Ocean Wing

Series A in 2016
Hunan Ocean Wing E-Commerce is a Chinese company that is a big seller of portable chargers on Amazon.com Inc. sites around the world has attracted a new infusion of capital. The company is best known for its Anker brand of portable chargers and other electronics products. The company was founded in 2011 by Steven Yang, a former Google Inc. engineer.

MagMode

Series A in 2016
MagMode is a men's fashion brand incubator. The company has opened three stores in Beijing, and plans to open more in other major cities in China. It also operates a mobile app featuring the latest international fashion trends and concepts. Initiated by editor-in-chief of the world’s top fashion magazine, fashion director, writer and artist, Magmode collaborates each season with fashion publishers, artists and designers from fashion’s origins including Europe and Japan in order to find and select the most promising designers of the season. Given proper consideration to subtle details, each collection is tailored to best fit Asian figures. By offering a cultural initiative to discuss possibilities of life, Magmode redefines fashion boutique through various means including workshops, photos, videos and publications, with absolute dedication to become an incubator and advocate for fashion and culture. Founded in 2015 by Cai Chongda, the company is headquartered in Minhang, Shanghai, China.

Infisecure Technologies

Seed Round in 2016
InfiSecure Technologies Private Limited is a Mumbai-based company that specializes in web security solutions to combat online threats, particularly from malicious bots. Founded in 2016, InfiSecure offers a comprehensive platform designed to detect and block various security risks, including content theft, hacking attempts, web scraping, and fraud. The platform empowers online businesses across multiple sectors, such as e-commerce, travel, real estate, and digital media, by enabling them to manage and control bot traffic on their websites effectively. By safeguarding against threats like account hijacking, form spam, and ad fraud, InfiSecure aims to allow businesses to operate online without fear of compromise. The company operates as a subsidiary of Barracuda Networks, Inc.

Bizongo

Series A in 2016
Bizongo is a tech-enabled B2B e-commerce and supply chain platform specializing in customized goods, including packaging, textiles, and apparel. Founded in 2015 by three IIT graduates, the company aims to digitize the fragmented B2B segment of made-to-order products. Bizongo offers a comprehensive suite of services such as digital vendor management, supply chain automation, and supply chain financing. Its platform connects businesses with a network of over 1,500 curated manufacturers, addressing key challenges like inventory management and operational efficiency. Through its innovative approach, Bizongo seeks to streamline the supply chain process, reduce costs, and facilitate easier contract management for its clients.

Songshu Pinpin

Seed Round in 2016
Songshu Pinpin is a group-buying e-commerce platform that facilitates the collective purchasing of daily necessities through the WeChat app. The company focuses on providing high-quality essential items at affordable prices, aiming to enhance the quality of life for families within communities. Users can conveniently place orders in groups, which are then processed and delivered to designated community pick-up locations. By simplifying the shopping experience, Songshu Pinpin enables families to access necessary goods more efficiently and economically.

Infinite

Series B in 2016
Infinite specializes in providing industry data value-added services across various sectors, including medical, business travel, insurance, and banking. The company's primary focus is on acting as a connector between financial institutions and diverse life scenarios. By facilitating these connections, Infinite aims to enhance operational efficiency and user experience while improving monetization capabilities for its clients. Through its services, the company seeks to unlock commercial value for businesses by leveraging data-driven insights and solutions tailored to meet the specific needs of different industries.

Daling

Series C in 2016
Daling owns and operates mobile shopping application. The company is based in Beijing, China.

Yujia

Series B in 2016
Yujia is a content industry. They provide chain value empowerment services for entertainment live broadcasts, e-commerce live broadcasts, business cooperation, new media marketing, etc., and customize product-effect integration solutions for brands. They are aiming to become China's provider of Internet celebrity empowerment services.

PDD Holdings

Series B in 2016
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.
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