The Venture Codex

Participated · Series C · Mar 2022

Founded in 2014, SJSemi focuses on 12-inch mid-end wafer production and end-to-end wafer-level advanced packaging and testing services, including multi-die integration and chiplet solutions. The company serves smartphones, 5G, high-performance computing, data centers, automotive and other electronics markets. SJSemi has invested heavily in R&D, notably debuting a 3x reticle TSV interposer technology in May 2024 and pursuing ultra-high density 3D multi-die integration. According to Yole and CIC Insight Consulting, SJSemi saw top revenue growth among global OSATs in 2023, and ranks No.1 in mainland China for 12-inch bumping, 12-inch WLCSP market share and wafer testing/chip probing revenue. As of 2024 it is the only provider in mainland China capable of mass-producing silicon-based 2.5D packaging solutions. The company is progressing an IPO application and is expanding its one-stop multi-die integration offerings via continued investment. SJ Semiconductor (SJSemi) is a pioneer of 12-inch MEOL foundry services in China, known for high-density bumping, WLCSP and testing. It offers advanced packaging using bumping and RDL technologies, and provides silicon interposer, fan-out wafer and substrate solutions. The company serves IC customers domestically and overseas across smartphones, networking, data center, AI and automotive markets. SJSemi leverages front-end fab management and quality systems to deliver high-performance advanced packaging. Financially, the company has completed a $340M Series C+ tranche that pushes total capital raised above $1 billion and valuation close to $2 billion. Management has indicated it will remain open to additional US dollar funding and will close an RMB tranche after required ODI approvals. SJSemi is a Jiangyin, China-based MEOL foundry founded in August 2014. The company provides Middle-End-Of-Line manufacturing and testing services and develops advanced bumping and 3D Multi-Die Integration technology and solutions. Its core capabilities focus on advanced bumping and 3D multi-die integration for semiconductor packaging. SJSemi closed a $300M Series C that brings its total equity raised to $630M, strengthening its balance sheet. The company says the funding will enable it to continue growing according to its business plan and strengthen its position in advanced packaging. Backers on the round included CMBI, CICC Capital, Oriza Rivertown, Oriza Hua Capital, Walden CEL, CCB PE, CCB Trust, Growth, Country Garden Venture, HTPE, SCGC, CITIC Securities, GP Capital and others.

Participated · Series C · Sep 2021

Iaso Biotherapeutics is a clinical-stage Chinese biopharmaceutical company focused on discovering, developing, and manufacturing innovative cell therapies and antibody products. Its core platforms include a fully human antibody discovery platform (IMARS), a high-throughput CAR-T screening platform, and proprietary manufacturing processes. The company has a diversified clinical-stage pipeline of over 10 novel autologous and allogeneic CAR-T and biologics candidates, led by Equecabtagene Autoleucel (CT103A), a fully human BCMA CAR-T injection. Equecabtagene Autoleucel has received NDA acceptance from China’s NMPA for relapsed/refractory multiple myeloma and IND approval from the U.S. FDA; it also received NMPA Breakthrough Therapy Designation (Feb 2021) and FDA Orphan Drug Designation (Feb 2022). The company has an in-house CD19/CD22 dual-targeted CAR-T that holds two IND clearances for r/r B-NHL and r/r B-ALL and is in a Phase I trial for r/r B-NHL; that program received FDA ODD in Oct 2021. The recent financing is intended to support R&D across the pipeline and the commercial launch of Equecabtagene Autoleucel. IASO Biotherapeutics is a clinical-stage biopharmaceutical company focused on discovering, developing, and manufacturing novel cell therapies and biologics for oncology and autoimmune diseases. The company leverages proprietary platforms including a fully human antibody discovery platform (IMARS), a high-throughput CAR-T drug discovery platform, and proprietary manufacturing processes. IASO Bio’s pipeline includes multiple autologous and allogeneic CAR-T and biologics candidates—a diversified portfolio of eight novel pipeline products—with lead asset CT103A (anti-BCMA CAR-T) in a pivotal trial for relapsed/refractory multiple myeloma. Its fully human CD19/CD22 dual-targeted CAR-T received NMPA IND clearances in July 2021 and a fully human CD5 CAR-T has completed preclinical work and is in pre-IND stage. The company plans to use new proceeds to accelerate global development and regulatory submissions, build a broader universal allogeneic cell-therapy pipeline including products for solid tumors, expand global strategic partnerships, and advance CT103A into frontline, combination, indication-expansion, and overseas development. Iaso Biotherapeutics is a clinical-stage biotech focused on development of innovative cell therapies for cancer, including autologous and universal CAR-T products for hematological tumors and TCR-like CAR-T candidates for certain solid tumors. The company is developing more than 10 pipeline products, all based on fully human sequences, and maintains a proprietary phage display library (>2×10^11) to support fully-human antibody discovery. Iaso Bio also operates in-house plasmid, lentivirus and CAR-T production technology platforms capable of supporting IND submissions and clinical research for multiple products. In September 2019 the company received NMPA approval of a phase Ib/II IND for CT103A, an anti-BCMA CAR-T co-developed with Innovent Biologics, and several new candidates are in preclinical stages or investigator-initiated trials. The company plans to use new financing to expand its pipeline, advance regulatory applications and clinical trials in China and the United States, improve its fully-human antibody development platform, grow cooperation with international R&D institutions, and accelerate construction of commercial facilities. Iaso Bio was founded in March 2017 and is based in Nanjing, China.

Participated · Equity · Aug 2021

OrbusNeich Medical develops and manufactures vascular interventional devices including catheters, balloon dilation catheters, scoring balloons, coated stents, neuro-intervention balloons and heart valves (via a JV). The company operates production and R&D bases in China, the Netherlands and the United States and maintains subsidiaries worldwide. Its product pipeline includes preloaded dry valves, second-generation antibody coatings and innovative drug‑coated balloons. OrbusNeich has sold products to dozens of countries and has established a strong reputation among global clinical experts. Management says the company will continue to invest heavily in innovation and R&D and to expand its global commercial footprint. Recent fundraising activity is intended to accelerate new-product R&D and further expand the group's business across Greater China and globally.

Participated · Series B · Aug 2021

SVOLT is an EV battery manufacturer led by Chairman and CEO Yang Hongxin that develops battery systems including cobalt-free chemistries. The company operates seven R&D centers in Japan, South Korea, the US, India, Wuxi, Baoding and Shanghai and has applied for more than 2,400 patents, including ~800 invention patents and 50 PCT international patents. SVOLT has secured 25 sales points with domestic and international mainstream automakers and more than 10 models powered by its battery system have been announced, including the ORA Cherry Cat using its cobalt-free battery. The company won a large purchase order of 16 billion yuan from Stellantis and is entering high-end markets in Europe and the US. SVOLT plans rapid capacity expansion with new bases in Changzhou, Suining, Huzhou, Ma’anshan, Nanjing and Europe and expects production capacity to exceed 200 GWh in 2025. The Series B proceeds will be used mainly for R&D of new technologies and construction of new factories.

Led · Series C · Jul 2021

Geneplus Technology, also known as Gene+, is a China-based company. The company announced it secured 750 million yuan (about $116 million) in a Series C financing. The round was reported as being led by CCB International, the venture unit of China Construction Bank. The financing was disclosed in a company statement on Thursday. The article does not provide details on the company’s products, operating metrics, use of proceeds, or prior rounds.