Participated · Equity · May 2026

Moonshot AI was founded in 2023 by Yang Zhilin, a former Meta AI and Google Brain researcher. The lab gained prominence with its open-weight Kimi models—Kimi K2.5 notably drove rapid adoption and Kimi K2.6 became one of the most-used LLMs on the OpenRouter distribution platform. Moonshot competes with models from OpenAI, Google, Anthropic, ByteDance, Alibaba, Zhipu and other Chinese AI labs. The company reported annual recurring revenue exceeding $200 million in April, fueled by paid subscriptions and API usage. Moonshot attracted significant investor support prior to this round, having raised about $3.9 billion over the prior six months and counting backers such as Alibaba, Tencent, HongShan, ZhenFund, IDG Capital and 5Y Capital. Its valuation progressed from about $4.3 billion at the end of 2025 to roughly $10 billion in early 2026 before the current $20 billion valuation.

Led · Series B · Dec 2021

炬佑智能 is focused on 3D sensing and designs a complete ToF system product line including ToF sensors, VCSEL drivers and 3D ISP. The company says it is currently the only domestic chip maker to achieve ToF sensor mass production and provides end-to-end solutions from chip to application. Its products were introduced across tablets, robots, smart locks, security and IoT in 2020, with those projects slated to enter scale mass production in 2021. 炬佑 has an IC design team whose members come from large foreign chip companies and emphasizes integration across chip, module, algorithm and application layers. Product roadmap in the articles includes a 2021 plan for a million‑level ToF sensor with diamond pixels and a 2022 plan to develop M‑ToF based on small SPAD pixels (<10µm). The company also reports strategic cooperation with a global IC design leader to jointly develop optoelectronic sensing chips.

Led · Series B · Jun 2021

Triastek, founded in 2015 in Nanjing by Cheng Senping and Li Xiaoling, develops digital formulation and 3D-printing technologies for pharmaceuticals, including Melt-Extrusion-Deposition (MED) and combined MED-microinjection/semisolid extrusion processes. Its platform aims to digitally design tablet internal structure, material distribution and drug-release profiles to move formulation development from trial-and-error to a predictable workflow. The company has advanced regulatory milestones: it received China’s first manufacturing license for 3D-printed drugs in September 2025 and is the only Chinese pharma firm in the FDA’s Emerging-Technology program. Triastek has five programs (D23, T20G, T24, T25 and T26) approved for clinical trials and is prioritizing oral peptide therapeutics via a 3DμS-OM platform designed to protect sensitive molecules and target absorption regions in the GI tract. Its lead oral-peptide candidate, T25 (an octreotid acetate tablet for acromegaly), holds clinical trial approvals in China and the U.S. The company is reallocating resources from process validation toward clinical product development and international expansion, supported by the recent strategic financing and the establishment of a Shanghai subsidiary for oral-peptide development and production.

Participated · Series B · Jun 2021

Exegenesis Bio is a rapidly growing global gene therapy company developing innovative genetic medicines for eye, central nervous system (CNS), and liver-directed diseases. Its core work centers on genetic medicines targeting ophthalmologic, CNS and hepatic disorders. In June 2021 the company completed a Series B++ financing, raising over $50M of venture investments in the round. That financing was led by Hillhouse Capital Group and included existing investors LYFE Capital and BioTrack Capital alongside new investors Temasek Holdings, CPE and Lake Bleu Capital. The company has raised $120M to date. Exegenesis is based in Philadelphia, PA. Exegenesis Bio develops gene therapies with a goal of providing safe, effective, one-time curative treatments that are affordable and accessible globally. The company works across viral vector design, preclinical and clinical development, and process development for large-scale manufacturing. It built a cGMP-compliant gene therapy production workshop meeting China, US and EU standards in four months and emphasizes a scalable, cost-controlled platform to accelerate multiple product lines to clinic. Founded in July 2019 and based in Hangzhou, Exegenesis is led by a founding team with extensive gene- and cell-therapy R&D and GMP manufacturing experience from U.S. companies. The firm has multiple gene-therapy pipelines in development and intends to use new capital to advance those programs through clinical and R&D stages. Exegenesis positions its integrated capabilities—from vector design to GMP production—as a competitive advantage for rapid clinical translation and commercialization.

Participated · Series C · Jun 2021

Insilico Medicine develops Pharma.AI, a generative AI platform that spans biology, generative chemistry, clinical medicine and research and integrates LLM-powered engines such as Nach01 and Dora. The company operates Life Star1, a fully robotic lab that includes a bipedal humanoid AI Scientist to automate and optimize research workflows. Insilico has built a wholly-owned discovery portfolio of 30 assets, with 10 assets having received IND clearance, and its lead candidate Rentosertib has completed a Phase IIa trial showing favorable safety and a dose-dependent FVC response. The company reports it can nominate preclinical candidates in 12–18 months and synthesize/test 60–200 molecules per program, reflecting accelerated early-stage discovery. Insilico also generates sustainable revenue through out-licensing agreements (collectively valued at over $2.1 billion) and collaborations (collected value over $1.4 billion), with milestone payments contributing to financial performance. Future plans announced include refining AI models and algorithms, expanding and updating its automated lab, advancing clinical validation of its flagship IPF candidate, and accelerating other in-house and co-developed pipelines. Insilico Medicine is a clinical-stage, end-to-end AI-driven drug discovery company led by founder and CEO Alex Zhavoronkov. The company develops AI platforms that connect biology, chemistry, and clinical-trials analysis using deep generative models, reinforcement learning, transformers, and other machine-learning techniques. Its platforms are used to discover novel targets and design molecular structures with desired properties across oncology, fibrosis, immunity, central nervous system, and aging-related diseases. Insilico says it will use the new funding to accelerate its internal programs and to apply its platform to uncover more novel therapeutics. The company recently announced promising preclinical candidates for COVID-19 (and related variants) and for ALS. Insilico is headquartered in Hong Kong and sources R&D and management resources across the USA, Belgium, Russia, the UK, Taiwan, and China. Insilico Medicine builds an AI-driven drug discovery platform that identifies new targets and molecules and also develops its own therapeutics across fibrosis, immunology, oncology and CNS. The company began as a discovery-focused business and, since 2019, has been advancing in-house drug programs, nominating eight preclinical candidates since 2021. It generates revenue from R&D collaborations (including upfronts and milestones) and customer subscriptions to its platform. Insilico is in the R&D stage, is not yet profitable, and employs about 200 people across six countries and regions. The firm plans to use new capital to fund Phase I studies, further develop its AI platform, and pursue global expansion and strategic initiatives such as a robotic drug discovery laboratory and a robotic biological data factory. A prototype robotic lab is planned for Suzhou and will include AGVs and a phenotyping partnership with X-Imaging. Insilico Medicine operates AI platforms (PandaOmics for target discovery and Chemistry42 for molecule design) to accelerate drug discovery and reduce guesswork in target-to-molecule development. The company demonstrated a proof-of-concept by identifying a novel target for idiopathic pulmonary fibrosis and designing a candidate that progressed through animal studies. That IPF project condensed preclinical development to about 18 months at a cost of roughly $2.6 million, and Insilico says it has 16 therapeutic assets across programs. The company is filing an investigational new drug (IND) application with the FDA, plans to begin human dosing this year, and aims to start a clinical trial late this year or early next year. Insilico has collaborated with Pfizer, Johnson & Johnson, Taisho Pharmaceuticals, and announced a new partnership with Teva to use PandaOmics. Insilico Medicine is a Hong Kong-based developer of next-generation AI for drug discovery that applies deep learning across the drug discovery and development process. Its core technologies include generative chemistry and target-identification platforms, and the company collaborates with biopharmaceutical firms using disease-relevant assays to validate solutions and generate machine-learnable data. Insilico has identified promising targets across cancer, fibrosis, NASH, immunology and CNS. The company completed a $37M Series B financing to support commercialization and pipeline advancement. It plans to use the funds to commercialize its validated generative chemistry and target-identification technology, build a senior management team with pharmaceutical experience, and further develop and partner on specific therapeutic programs.