Participated · Series C · Sep 2020

XWPharma (formerly XW Laboratories) focuses on research and development of innovative treatments for central nervous system diseases using a proprietary drug discovery platform. Its pipeline includes two lead clinical-stage candidates: XW10172, a once-daily long-acting GABAB receptor agonist for hypersomnia and sleep disorders related to neurodegenerative diseases such as Parkinson’s; and XW10508, a once-daily oral clinical candidate combining NMDA receptor antagonism with AMPA receptor activation for major depressive disorder and chronic pain, with potential abuse-deterrent properties. The company announced it completed a $40 million C round and will use proceeds to advance clinical development of these two programs. XWPharma emphasizes its platform’s ability to improve developability and reduce early-stage project risk. The company also announced leadership changes, appointing Leonard Blum as president and CEO while founder Dr. Xiang Jianing will serve as chief scientific officer and continue to lead Asian operations. Existing investors include JJDC, Zhongjinghe Group, WuXi AppTec and KTB Network. XW Laboratories is a platform-centric biopharmaceutical company focused on discovering and developing novel compounds for neurological disorders. The company is built on three platforms: two designed to improve pharmacokinetics and safety of existing drugs, and a third aimed at reducing mitochondrial damage linked to neurological disease. XW Labs emphasizes medicinal chemistry to enable enhanced drug design across a portfolio of programs. Led by Founder and CEO Dr. Jia-Ning Xiang, the company’s primary R&D activities are based in Wuhan, China and New Taipei City, Taiwan. The company will use the financing to continue development of multiple programs that are entering clinical and IND-enabling studies. XW Labs employs its platforms to potentially host multiple programs across a broad set of indications.

Participated · Series D · Mar 2018

Wecash Technology operates wecash.net, an online credit assessment and reporting platform that leverages big data. Its core product uses data mining and machine learning to produce credit evaluations for individuals and financial institutions. The company supplies consumers with financial and lifestyle services (3C, residential rentals and aesthetic surgery) and helps partners monetize consumer data and secure tangible assets for lenders. As of the end of January 2018 Wecash had 130 million users in its database and had supplied hundreds of millions of credit reports, and it has provided solutions to over 50 financial institutions. Wecash has expanded its presence into Indonesia, Singapore, Brazil and the US. The company plans to use new funding to broaden AI applications in data mining, machine learning and smart chips and to expand its lifestyle service portfolio. Wecash provides an app that leverages big data and machine learning to prevent fraud and deliver consumer credit evaluations and access to partnering banks, insurers and consumer finance products. The company reports over 80 million users and 30 financial-institution partners, and its technology has facilitated more than US$2.2 billion in loans. Wecash intends to improve its "lending AI" to serve banks, insurance and consumer finance companies and to extend offerings for online and offline consumption. It plans to expand its hardware R&D team to develop new machine-learning solutions for the financial sector to improve productivity and reduce risk. The company also aims to accelerate overseas expansion, building on an R&D centre in Silicon Valley since 2015 and 2017 moves into Brazil, Indonesia and broader Latin America and Southeast Asia. The business is led by founder and CEO Zhi Zhengchun and Chief Risk Officer Tang Xuewei.