Participated · Series C · Nov 2024

Wellpartner provides pharmacy fulfillment, pharmacy administration and professional services with particular expertise in the Public Health Service 340B drug discount program. The company is the largest provider of 340B contract pharmacy services in the U.S., operating in a market with over $3.5 billion in annual drug sales. Its core product set targets commercial and Medicaid health plans as well as health care safety‑net providers to expand access to lower‑cost medications for underserved patients. Management says the company is establishing a leadership position with transparent, cost‑based drug fulfillment programs. The recent financing is intended to fund working capital and support strategic growth initiatives to broaden product and service offerings nationwide. Wellpartner positions itself to help expand prescription drug coverage for Americans who lack adequate access to health insurance.

Participated · Series G · Oct 2020

Yuanfudao is a Beijing-based online education platform founded in 2012 that provides a range of digital learning products. Its offerings include a live tutoring platform (Yuanfudao), Zebra AI Class, the online question bank Yuantiku, the question-searching app Xiaoyuan Souti and the arithmetic checking app Xiaoyuan Kousuan. The company has established multiple teaching and research centers and branches across China, including Wuhan, Xi’an, Zhengzhou, Nanjing, Chengdu, Jinan, Changsha, Tianjin, Chongqing, Shenyang, Changchun and Hefei. It employs more than 30,000 people. Following its latest financings the company’s valuation rose to US$15.5 billion. Yuanfudao plans to use the new funding to accelerate new curriculum product development and expand its online education service system. Yuanfudao is a Chinese online education company that provides online homework assistance and structured educational plans for students. Its apps were ranked the top education apps in China for in-app purchases between January and March, according to App Annie. The company reports 400 million users and operates 11 teaching and curriculum development centers across China. Demand for its services has surged as social distancing has forced schools to shift classes online. Yuanfudao recently raised $1 billion in funding, leading to a $7.8 billion valuation—more than double its $3 billion valuation from last year. Investors in the company include Tencent Holdings, Hillhouse Capital Group, Boyu Capital, and IDG Capital. Yuanfudao offers a suite of K-12 education services, including live courses, a database of exam problems, and a popular homework-help app that scans problems and provides instant solutions. The company also operates an AI research institute intended to improve its product intelligence. Yuanfudao says it serves more than 200 million users and derives the majority of its revenues from selling live courses. The startup plans to use proceeds from the latest financing to invest in AI research and to improve its apps' user experience. It competes in China’s large, fast-growing online K-12 tutoring market against players such as Zuoyebang and Yiqizuoye. The company was described in the article as a six-year-old startup focused on the exam-oriented Chinese market. Yuanfudao is a Beijing-based online tutoring company that offers live, app-based tutoring to students. The platform reports more than 160 million students using its mobile apps and about 1 million paying users. Tencent is a previous backer of the company. The article does not disclose revenue or other financial details beyond the fundraising. Yuanfudao has attracted major investors in this round, reflecting continued interest in China’s edtech sector. The company’s recent raise places it among Chinese unicorns valued at more than $1 billion.

Led · Equity · Jul 2015

Wozlla builds an integrated development environment (IDE) that enables developers to create HTML5-based games and apps, and the company claims performance comparable to native titles. Co-founded in 2013 by former Opera engineer Zi Bin Cheah, the IDE is not yet publicly available but Wozlla used it to develop three titles for Chinese users, including a hit featured in Tencent's QQ Zone. The company also produces native app versions that share the same HTML5 codebase and says its MMO games can run on low-end phones like Xiaomi’s Redmi. Wozlla plans to offer the IDE free to developers and instead monetize through its own games. The firm is anchored in Beijing with a development office in Mexico City and employs about 30 staff. It recently raised $2M from Greenwoods Asset Management and intends to raise additional funding to develop its technology, games, and expand headcount.

Participated · Series B · Jun 2015

Cynvenio Biosystems is a commercial-stage clinical diagnostics company that develops the LiquidBiopsy multi-template technology for molecular characterization of tumor cells from a standard blood draw. The platform delivers ultra-high sample purity and recovery enabling downstream molecular analysis by next-generation sequencing and PCR, and supports simultaneous analysis of ctcDNA, ctDNA, and germline DNA from a single blood sample. Cynvenio’s product suite includes automated instrumentation, consumables and reagents, patient sample kits, and bioinformatics. Its ClearID blood test is available from the company’s CLIA lab or clinical partners and is reimbursable in the United States. The company plans to use proceeds from the financing to advance clinical development and commercialization programs and to establish commercial and customer support infrastructure. Cynvenio is headquartered in Westlake Village, California (Los Angeles) and is establishing a China-based joint venture backed by an additional $10 million, bringing committed capital for this phase to $35.5 million.