Participated · Equity · Jul 2026

Hongqing Technology describes itself as an integrated satellite constellation solution provider offering systematic full-chain services for low-Earth orbit projects. Founded in 2017 and headquartered in Beijing E-Town’s aerospace district, the company produces flat-panel stackable satellites and operates a Shanghai testing and development base and an Xiong’an intelligent satellite manufacturing base. It has in-house subsystems such as the Jinwu-200 krypton Hall thruster and has flown test satellites on Landspace rockets. Hongqing filed the Honghu-3 constellation with the ITU in May 2024, proposing 10,000 satellites across 160 planes, and aims to produce between 100–500 satellites annually by 2026. The company is majority-owned by Landspace and, following the latest financing, has raised over ¥2.5 billion to date to support operations, R&D and team expansion.

Participated · Series A · Jun 2026

Shihang Intelligent has built a full‑stack portfolio covering six core systems: power, control, sensing, navigation, sealing, and deployment, each backed by proprietary IP and continuous iteration. Its product lineup includes models such as the "Orca," with claimed full-depth operational capability from 0 to 10,000 meters and full degrees of freedom for autonomous navigation and multi-robot coordination. The company reports stable commercial deployments across all ocean depths in real-world environments and scaled use in scenarios including ship hull cleaning, underwater security, offshore wind power, marine ranching, and seabed inspection. Following the Series A raise exceeding 1 billion yuan, Shihang plans to invest in core technology R&D, global market expansion, and ecosystem development to support large-scale deployment and enhance reliability. The article does not provide revenue or user metrics.

Participated · Series E · Mar 2021

PatSnap built a global patent search database and has expanded into “innovation intelligence” software that analyzes patents, scientific papers, government R&D grants and startup funding news to help enterprises shape R&D strategy. The company was founded in 2007 in Singapore and has pushed into adjacent realms to help customers track competitors and identify partners. PatSnap says it serves more than 10,000 customers in over 50 countries and employs about 700 people across the U.S., Europe, Canada, Japan and China; the U.S. is its largest market while China is a rapidly growing revenue stream (it operates there as Zhihuiya). Notable customers named include Tesla, General Electric, Siemens, Dyson, PalPal, Spotify and Megvii. With the new funding the company plans to further develop products, acquire more domain expertise, expand global sales presence and invest in human capital. PatSnap, founded in 2007, provides patent retrieval, analysis, management and other products and services across the whole R&D lifecycle. The company helps organizations obtain competitive intelligence, promote scientific and technological research, increase R&D efficiency, and support commercialization. As of July 2018 PatSnap had served more than 8,000 customers in over 60 countries and regions across more than 50 industries and employed nearly 1,000 people worldwide. It operates branches in the UK, US, China and Singapore and has built a decade of technical expertise and continuous product innovation. PatSnap has attracted investment from backers including Temasek Group, Sequoia Capital and Shunwei Capital. The company aims to expand its IP service and innovation capabilities to support Chinese enterprises and industrial upgrading. PatSnap offers a patent and R&D platform and related services to help enterprises pull in IP data for R&D and product development. The company started as a directory for IP and has expanded to services that help manage internal product development and other R&D initiatives. It claims 8,000 clients worldwide, including more than 4,500 in China, and says the U.S. is its largest revenue market. PatSnap employs about 700 staff across offices in London (commercial), China (product), Singapore (machine learning) and Los Angeles (go to market), and plans to open a development office in Toronto. Management says it is building new products aimed at becoming the software stack for R&D teams. Leadership describes the company as well funded and expects to be profitable within two to three years. PatSnap is a London-based cloud software company that calls itself an "IP intelligence" firm, designed to comprehend the full R&D lifecycle of a technology company's intangible assets. The company offers a platform used across 40 industries and serves more than 3,000 customers worldwide, including NASA, Vodafone, L'Oreal and MIT. PatSnap employs about 400 people across Singapore, London and Suzhou, China. It said it will use the new funding to develop new products and expand its team. The company was founded and is led by CEO Jeffrey Tiong, and built early versions of its platform within an accelerator program at the National University of Singapore. Earlier financings include a US$3.6 million Series A in 2014 and an US$11 million Series B in 2015. PatSnap provides web-based intellectual property analytics and management software built on a database of global patents and intellectual property. The platform ingests, maps, and links over 100 million patents from virtually every relevant jurisdiction in the world. Its proprietary analytics and visualization software allows researchers to conduct intellectual property research and monitor IP evolution across multiple sectors. PatSnap serves thousands of corporations, research and academic institutions, and governments worldwide; customers include NASA, Vodafone, L’Oréal, MIT and the National Institutes of Health. The company intends to use new funds to continue to scale its business around the world. Founded in 2007 and based in Singapore, PatSnap reported a $10M funding round in the most recent press coverage.

Participated · Series D · Feb 2017

Ofo is a Beijing-based bike-sharing startup founded in 2014 that operates a shared bicycle platform. The company claims 200 million users who generate 32 million transactions per day. Ofo has been engaged in an expensive rivalry with Mobike, and both companies together hold over 90% of China’s bike-sharing market. Founder and CEO Dai Wei said the company is transitioning from rapid growth to a stage of high-quality development and will prioritize customers, technological innovation and efficient operations. Ofo has been expanding into other countries while facing cash pressures amid intense competition and the collapse of many smaller bike-sharing startups. To address financing needs it raised new capital in a round led by Alibaba. Ofo operates a QR-code unlocked bike-sharing service, with each bicycle carrying a GPS chip and users starting rides by scanning a code. Since its launch two years ago, Ofo says it has provided more than two billion rides to over 100 million users. The company has connected 6.5 million bikes to riders in 150 cities across five countries and reports peak activity of 25 million rides per day. Ofo plans to grow its fleet to more than 20 million bikes, expand to 200 cities by the end of 2017, and has recently expanded to the U.K., U.S., and Singapore. Financially, Ofo raised a $700M Series E led by Alibaba, Hony Capital and CITIC Private Equity, with participation from existing backers including Didi and DST Global and an earlier Ant Financial investment. The company says it will use the funding to upgrade service, accelerate global expansion, and continue leading the bike-sharing industry. Ofo operates a bike-sharing rental platform and has claimed unicorn status. The company announced Ant Financial as an investor and strategic partner to work on internet and credit-card payments and to support international expansion. Ant Financial had already been a strategic partner: Ofo began using Ant Financial’s Sesame Credit system to let qualifying users rent bikes without a deposit. Two months prior Ofo closed a $450 million Series D that it says raised its valuation to more than $1 billion; that round was led by DST Global, Matrix China, CITIC, and Didi Chuxing. Ofo says it wants to be the world’s largest bike rental platform and plans to work with Ant Financial to expand into new countries. The tie-up with Ant Financial is framed as strengthening Ofo’s position against rival Mobike, which has backers including Tencent and Foxconn. Ofo operates a dockless, app-driven bicycle rental service that uses GPS-tagged bikes to enable on-demand rentals without fixed stations. The company charges a low user fee (reported around 1 CNY per hour) and faces margin questions given that pricing. Ofo has acknowledged operational risks including vandalism and concerns about how user deposits are handled in the industry. The company claims significant scale: more than one million cycles rented since June to over 20 million registered users and operations across close to 40 Chinese cities. Ofo says it is in the early stages of expanding into the U.S., UK and Singapore. Financially it has attracted large investor capital, positioning itself aggressively against rivals in a heavily funded sector. Ofo operates a bike-sharing platform that lets people borrow bicycles across Chinese cities. The company was founded two years ago as part of a startup program at Peking University. Ofo claims to have 70,000 bikes across 20 cities, 1.5 million registered users, and about 500,000 rides per day. The startup has drawn strategic interest from larger mobility players as it scales its fleet and user base. Its recent capital activity includes fundraising earlier in the month and a new investment announced alongside Didi Chuxing. Future possibilities discussed in coverage include integration into Didi’s app and using bike riders for services like food delivery and couriering.

Participated · Series B · Aug 2016

NextVR builds a virtual reality platform focused on live sports and music content, notably live-streaming sporting events and concerts. With the new financing the company plans to expand beyond U.S. markets into Asia, targeting China, Korea, and Japan. The startup has raised over $135 million to date, including a $30.5 million Series A last November led by Formation 8. Regulatory filings show $20 million of the Series B came from CITIC Group at a reported $800 million valuation. NextVR says support from Asia’s largest players will provide significant resources for creating and distributing both local and international content in those markets. NextVR builds a VR live-event streaming platform designed to give consumers rich, immersive experiences of sporting events and concerts. The company emphasizes delivering a high-quality virtual reality experience and says content is key to that mission. Its fundraising attracted strategic media and entertainment partners, indicating growing interest from major corporate TV and live-entertainment players. NextVR highlights relationships with marquee content providers as part of its go-to-market approach. The company is six years old and has previously secured $5 million in venture funding last year. Management framed the new investment as validation of its technology platform and content relationships.