Led · Equity · Jan 2026

Founded in 2017 and spun off from TCL Electronics in 2021, RayNeo Technology designs and manufactures consumer augmented-reality glasses. Its product lineup includes the V3 and X3 Pro models, both of which integrate Alibaba’s Tongyi Qianwen large language model to enable photo capture, voice interaction, video playback, and real-time navigation. At CES 2026 the company unveiled the X3 Pro Project eSIM, the world’s first consumer AR glasses with built-in eSIM and 4G connectivity. RayNeo has captured a leading share of China’s smart-glasses market, shipping tens of thousands of units and accounting for the majority of domestic sales before mid-2025. Management plans to leverage partnerships with carriers such as China Mobile and China Unicom to bundle glasses with mobile plans and tap nationwide retail outlets. IDC projects China’s overall smart-glasses market to grow 77.7% year-on-year by 2026, positioning RayNeo for continued expansion. No revenue figures were disclosed in the article, but the company’s rapid shipment growth underscores strong early commercial traction.

Participated · Equity · Oct 2025

Founded in 2016 as a spin-out of the Harbin Institute of Technology, Shenzhen-based Leju Robotics develops wheeled, tracked and bipedal robots and operates an ecosystem that includes core components, gait-control algorithms and ROS-based software. Its product family ranges from the AELOS and ROBAN educational humanoids to the KUAVO-MY and KUAVO 3.0 full-size humanoids, the latter marketed as an open platform for embodied AI research and industrial use. Leju also supplies robotics-as-a-service across multiple industries and has built R&D centers throughout China, most recently opening an innovation center with Huawei in Shenzhen. AELOS units were showcased at the 2018 Winter Olympic Games, highlighting the company’s marketing reach. The firm collaborates with Chinese technology giants such as Huawei, Alibaba and Haier. Proceeds from its latest capital raise will fund further R&D, preparation for mass production and expansion of these partnerships. Management has indicated plans to pursue an initial public offering in the future.

Participated · Series C · Sep 2025

Founded in 2017, Inventchip is a Chinese integrated device manufacturer focused on silicon carbide (SiC) power semiconductors and related driver and control ICs. The company has mass-produced three generations of SiC MOSFETs that it says meet advanced industry performance standards. Its products are embedded in EV onboard chargers, DC-DC converters, e-drive systems, air-conditioning compressors, photovoltaics, energy storage units, charging piles and industrial power supplies. By 2024, Inventchip had shipped more than 16 million SiC MOSFETs, 18 million SiC Schottky barrier diodes and nearly 60 million driver ICs. The firm has also entered the EV main drive inverter market, securing projects with multiple automakers and suppliers. Proceeds from its latest financing will be used to expand SiC production capacity, accelerate product R&D and support broader market promotion.

Led · Equity · Aug 2024

Xinwanxing Composite Materials is a China-based maker of composite materials with a focus on aerospace applications. The company is described in reporting as an aerospace material maker and a producer of composite materials. It recently completed a significant equity financing round. The raise amounted to nearly 1 billion yuan, or about $140.6 million. Domestic investors Eastern Bell Capital and Goldstone Investment are reported as the backers. The articles do not disclose operating metrics, valuation, or the intended use of proceeds.

Participated · Series B · Feb 2024

Unitree (Hangzhou Yushu Technology) develops legged robots including high-performance quadrupeds and a newly released general-purpose humanoid, H1. The company says it self-develops core components such as high‑energy‑density joint motors, reducers and 3D lidar, and is building a robot AI world model. H1 was developed in the first half of 2023, reached small‑batch production in the second half of 2023, and has seen multiple rapid AI‑driven software iterations; it was the only humanoid at CES 2024 able to run autonomously on stage. Unitree reports that its quadruped line has been widely commercialized across industry applications (power inspection, firefighting/rescue) and claims global high‑performance quadruped shipments account for at least 60% of the market. The company has grown from a founder solo project to a several‑hundred‑person team and emphasizes platformized soft‑ and hardware R&D and cost control. Current financial detail disclosed in the articles is the completion of a B2 financing of nearly ¥1 billion RMB. Unitree Robotics, founded in 2016 in Hangzhou, develops and sells high-performance four-legged (quadruped) robots for research, commercial and consumer markets. Its product line includes Laikago, Laikago Pro, AlienGo and the consumer/education-focused Unitree A1; Laikago began accepting orders in 2018. The company emphasizes advanced mechatronics and control technologies and cites inspiration from Boston Dynamics while pursuing commercial applications. Unitree has applied for roughly 60 patents with more than 30 published/authorized, making it one of the largest patent holders in China’s quadruped field. The firm says its patent portfolio and self-developed equipment give it a pricing advantage. Management plans to use recent financing to expand the team and increase product manufacturing capacity.