Participated · Equity · Jun 2024

紫光展锐 is a platform chip design firm headquartered in Shanghai that claims comprehensive capabilities across 2G/3G/4G/5G, Wi‑Fi, Bluetooth, television tuning and satellite communications. It is one of the few global companies covering full‑scenario communications technologies and is one of three public‑market 5G chip companies. The company splits its business into consumer electronics (5G product line, smartphone line, feature phone line, smart wearable line) and industrial electronics (wide‑area IoT, local IoT, industry intelligent terminals, smart displays, and automotive electronics). The article reports a new financing round and states the board has authorized advancing the round; the company has not disclosed further details. No revenue, user, or other financial metrics were provided in the article. UNISOC is a Chinese fabless semiconductor company. In May it received an increased capital injection of CNY 5 billion and completed an equity restructuring. The company completed registration formalities of change at the Industrial and Commercial Administration on June 8, and its registered capital rose from CNY 4.2 billion to CNY 4.62 billion. The number of shareholders increased from 7 to 31, with Beijing Spreadtrum Investment remaining the largest shareholder at 38.55%, followed by the China National Integrated Circuit Industry Investment Fund (15.27%) and Intel (China) (12.98%). UNISOC's IPO process on the Shanghai Stock Exchange STAR Market is steadily advancing. Industry sources said the rebalanced equity structure is healthier and more conducive to long-term development. Spreadtrum Communications Inc. is a Sunnyvale, Calif.–based maker of wireless chipsets and maintains offices in China. The company designs and sells wireless chipset products for mobile and wireless devices. According to a regulatory filing cited by PE Week wire, Spreadtrum has secured $10 million of a $20 million Series D round. The filing named no lead investor for the tranche. Return backers in the round include Fortune Venture Group and New Enterprise Associates. The article does not disclose operating metrics, revenue, or additional financial details.

Participated · Series D · May 2019

Megvii is an eight-year-old Chinese AI company, founded by three Tsinghua University graduates, best known for its Face++ facial recognition and computer-vision platform. It provides computer-vision solutions across use cases including public security and mobile payment and competes with peers such as SenseTime and Yitu. Alibaba has been a backer of the company. Megvii raised $750 million in a Series D that lifts its valuation to just north of $4 billion as it gears up for an IPO later in the year. The company says the fresh proceeds will be used for commercialization of its AI services, recruitment, and global expansion. Its technology and partnerships have drawn scrutiny: Human Rights Watch listed Megvii as a provider to the IJOP police app in Xinjiang, a link the company has denied. Face++ offers facial-recognition technology via an API, SDK and custom cloud services that customers integrate into payment, photography and entertainment apps. Its technology is used by Ant Financial/Alipay — including Alipay’s “smile to pay” authentication — and is integrated in apps such as Camera360 and the Ukrainian dating service Flinch. Over 30,000 developers have used Face++’s tools, and traditional banks have approached the company about partnerships following its high-profile deals. The company will use its Series B funding to develop a new commercial application, with a product launch planned for this year. Market context cited in the article notes the global biometrics market expanding substantially, which includes facial-recognition tech like Face++’s. The company is based in Beijing and claims notable enterprise traction. Face++ is a cloud-based face recognition technology provider that offers face detection, analysis, recognition and large-scale search technologies via a face-related API, an offline SDK, and customized cloud services. Formed in 2012 by three Tsinghua University alumni and based in Beijing, the company serves both developers and enterprises. It reports integration into more than 14,000 apps and coverage of over 40 million mobile devices per month. Face++ plans to accelerate commercial applications of its technology, with explicit focus on financial services (biometric logins with partners such as Ant Financial/Alipay and several commercial banks). It is also pursuing camera-data use cases combined with IFTTT-style triggers to enable actions such as VIP detection in retail. The company counts partners including Alibaba, Qihoo360, Weibo, Momo, Meitu, Camera360, and Jiayuan.