Participated · Equity · Aug 2026

Vast develops Tripo Studio, a platform that generates 3D models from text and image prompts and powers interactive 3D avatars. The company has a partnership with NetEase to offer instant avatar creation in the role-playing game Yanyun Shiliusheng, allowing players to upload photos for avatar generation. Founded in 2023 by Song Yachen, Vast recently raised nearly $200 million and reached a reported $1 billion valuation. Investors in the company include Alibaba, Baidu and Yongce Capital. Vast is also reported to be exploring a Hong Kong IPO and is working with Bank of America and China International Capital Corporation on its stock issuance plans. The company has not announced detailed financial metrics or specific use of funds publicly in the reports.

Participated · Series A · Jul 2026

Ant International provides digital payments and broader financial technology services for enterprises, including merchant payment and account management offerings. The company plans to use new capital to accelerate global expansion and to boost innovation across its product areas. Its Series A raised about $1.2 billion with participation from parent Ant Group, Alibaba Group and international investment institutions. The fundraising positions the company to scale its enterprise financial services internationally. The announcement does not disclose specific revenue, user metrics, or a valuation.

Led · Series C · Jul 2026

AIsphere develops multimodal video large models and related products, including the consumer-facing PixVerse (for overseas markets) and PaiWo AI (for domestic users). The company launched its real-time world model PixVerse R1 in January 2026, which supports 1080p real-time generation and on-the-fly video edits via natural language, and released PixVerse Game in July 2026 to apply real-time video generation to interactive entertainment. AIsphere reports that PixVerse has accumulated over 150 million global users and its PixVerse V6 model ranks on international benchmarks for text-to-video and image-to-video. Commercial partnerships and pilots include collaborations with Mango Media and enterprise partners such as Alibaba, Giant Group, China Ruiyi, BlueFocus and 37 Interactive Entertainment across short drama, animation, variety, promotional assets, interactive games and multilingual content. Financially, the company has completed multiple financings since its 2023 founding, including a March 2026 $300M C round that valued the company at $1.0B, and most recently the ¥2.98B C+ tranche led by Alibaba to fund further R&D and global expansion.

Participated · Series C · Jul 2026

PixVerse develops generative video models including a V-Series for consumer/API use, a C-Series for professional film and commercial workflows, and an R-Series of world models for game development and world building. Its tool can generate videos up to 4K resolution with audio baked in, and the company reports over 150 million registered users and more than 15 million monthly active users. The startup offers image-to-video generation at a cited competitive rate of $4.80 per minute. PixVerse released its R-Series world models earlier this year and plans to launch a new V-Series model and a new world-model version within the year. The company has about 150 employees across offices in Singapore, Beijing, and Shanghai and has commercial relationships including a deployment deal with investor Alibaba.

Participated · Series A · Jul 2026

Mochi Intelligence is an embodied intelligence startup founded by veterans from Huawei and logistics operations, building service-oriented robots with a long-term vision of general-purpose household robots. The company has kept product specifications private so far and has not disclosed customers, orders, delivery volumes, or revenue. Leadership includes Huang Qingqiu, formerly head of Huawei's Autonomous Driving AI division, and CEO Gao Wenli, who has experience in Huawei's carrier business and co-founded iMile; investors cited their track records as a key rationale for the company's valuation. Mochi plans to launch its first service-oriented robot in July and will initially target commercial service scenarios where environments are more static and tasks more defined. The company intends to use real-world deployments to collect data and iterate its algorithms, mirroring closed-loop training approaches used in autonomous driving, before expanding toward household applications.