Overview
Platform for retail and online group buying services in China.
Founded
2010
Deals · 12mo
8
Stage focus
Geographic focus
Sector focus
Investment portfolio
| NAME | DATE | SIZE | |
|---|---|---|---|
D-Robotics | Sep 2026Participated | $400 MSeries C | |
Xynova | Jul 2026Led | $74 MSeries A | |
Snapmaker | Jul 2026Participated | $147 MSeries C | |
Even Realities | Jul 2026Led | $150 MSeries B | |
Mindverse | Jun 2026Led | $50 MSeries A | |
Tianji Intelligence | May 2026Led | $147 MSeries B | |
Moonshot AI | May 2026Led | $2.0 BOther Equity | |
Snapmaker | Dec 2025Led | $28 MSeries B | |
X Square | Sep 2025Participated | $140 MSeries A | |
Galaxea AI | Aug 2025Led | $100 MSeries A | |
Zelos | Feb 2024Led | $100 MSeries A | |
Unitree Robotics | Feb 2024Participated | $139 MSeries B | |
D-Robotics | Sep 2026Participated | $400 MSeries C | |
Xynova | Jul 2026Led | $74 MSeries A | |
Snapmaker | Jul 2026Participated | $147 MSeries C | |
Even Realities | Jul 2026Led | $150 MSeries B | |
Mindverse | Jun 2026Led | $50 MSeries A | |
Tianji Intelligence | May 2026Led | $147 MSeries B | |
Moonshot AI | May 2026Led | $2.0 BOther Equity | |
Snapmaker | Dec 2025Led | $28 MSeries B | |
X Square | Sep 2025Participated | $140 MSeries A | |
Galaxea AI | Aug 2025Led | $100 MSeries A | |
Zelos | Feb 2024Led | $100 MSeries A | |
Unitree Robotics | Feb 2024Participated | $139 MSeries B |
Insights
Time horizon
View by
Deal Distribution
| Round type | Led deals | Participated deals |
|---|---|---|
| Series A | 4 | 2 |
| Series B | 7 | 4 |
| Series C+ | 5 | 5 |
| Other Equity | 1 | 0 |
Monthly Deal Activity
| Month | Deals |
|---|---|
| Jun '18 | 1 |
| Jul '18 | 0 |
| Aug '18 | 0 |
| Sep '18 | 0 |
| Oct '18 | 0 |
| Nov '18 | 0 |
| Dec '18 | 1 |
| Jan '19 | 0 |
| Feb '19 | 0 |
| Mar '19 | 0 |
| Apr '19 | 0 |
| May '19 | 0 |
| Jun '19 | 0 |
| Jul '19 | 0 |
| Aug '19 | 0 |
| Sep '19 | 0 |
| Oct '19 | 0 |
| Nov '19 | 1 |
| Dec '19 | 0 |
| Jan '20 | 0 |
| Feb '20 | 1 |
| Mar '20 | 1 |
| Apr '20 | 0 |
| May '20 | 0 |
| Jun '20 | 0 |
| Jul '20 | 1 |
| Aug '20 | 0 |
| Sep '20 | 0 |
| Oct '20 | 0 |
| Nov '20 | 0 |
| Dec '20 | 1 |
| Jan '21 | 0 |
| Feb '21 | 0 |
| Mar '21 | 0 |
| Apr '21 | 0 |
| May '21 | 0 |
| Jun '21 | 1 |
| Jul '21 | 0 |
| Aug '21 | 1 |
| Sep '21 | 1 |
| Oct '21 | 0 |
| Nov '21 | 1 |
| Dec '21 | 1 |
| Jan '22 | 0 |
| Feb '22 | 0 |
| Mar '22 | 0 |
| Apr '22 | 1 |
| May '22 | 1 |
| Jun '22 | 0 |
| Jul '22 | 0 |
| Aug '22 | 0 |
| Sep '22 | 0 |
| Oct '22 | 0 |
| Nov '22 | 0 |
| Dec '22 | 1 |
| Jan '23 | 0 |
| Feb '23 | 0 |
| Mar '23 | 0 |
| Apr '23 | 0 |
| May '23 | 0 |
| Jun '23 | 0 |
| Jul '23 | 0 |
| Aug '23 | 0 |
| Sep '23 | 0 |
| Oct '23 | 0 |
| Nov '23 | 0 |
| Dec '23 | 0 |
| Jan '24 | 0 |
| Feb '24 | 3 |
| Mar '24 | 0 |
| Apr '24 | 0 |
| May '24 | 0 |
| Jun '24 | 0 |
| Jul '24 | 0 |
| Aug '24 | 0 |
| Sep '24 | 0 |
| Oct '24 | 0 |
| Nov '24 | 0 |
| Dec '24 | 0 |
| Jan '25 | 0 |
| Feb '25 | 0 |
| Mar '25 | 0 |
| Apr '25 | 0 |
| May '25 | 0 |
| Jun '25 | 0 |
| Jul '25 | 0 |
| Aug '25 | 1 |
| Sep '25 | 1 |
| Oct '25 | 0 |
| Nov '25 | 0 |
| Dec '25 | 1 |
| Jan '26 | 0 |
| Feb '26 | 0 |
| Mar '26 | 0 |
| Apr '26 | 0 |
| May '26 | 2 |
| Jun '26 | 1 |
| Jul '26 | 3 |
| Aug '26 | 0 |
| Sep '26 | 1 |
| Oct '26 | 0 |
Sector Breakdown
A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.
| Sector | Deals |
|---|---|
| AI & Machine Learning | 14 |
| Hardware & Robotics | 12 |
| Manufacturing | 9 |
| Space & Frontier Tech | 8 |
| Transportation & Logistics | 7 |
| Food & Agriculture | 6 |
| Enterprise Software | 5 |
| Networks, Cloud & Communication | 3 |
| E-Commerce & Retail | 2 |
| Clean Energy & Sustainability | 2 |
| Professional Services | 2 |
| Consumer & Lifestyle | 1 |
| Fintech | 1 |
| Media & Entertainment | 1 |
| Health & Life Sciences | 1 |
Deal Size Distribution
Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.
| Round size band (USD) | Deals |
|---|---|
| <$5M | 0 |
| $5M-$10M | 0 |
| $10M-$25M | 2 |
| $25M-$50M | 1 |
| $50M-$100M | 5 |
| $100M-$250M | 14 |
| $250M-$500M | 3 |
| $500M-$1B | 0 |
| $1B+ | 3 |
Deals By Geography
Top 5 of 5 regions; European countries are grouped as Europe.
| Region | Deals |
|---|---|
| China | 21 |
| India | 3 |
| United States | 2 |
| Singapore | 1 |
| Nigeria | 1 |
Co-Investors
Bubble size = shared deals
Click a bubble to open that fund in a new tab.
Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.
| Co-investor | Shared deals |
|---|---|
| GL Ventures | 5 |
| IDG Capital | 4 |
| Gaorong Capital | 3 |
| Shunwei Capital | 3 |
| Tencent | 3 |
| 5Y Capital | 2 |
| Coatue | 2 |
| CPE | 2 |
| DST Global | 2 |
| Eastern Bell Capital | 2 |
| GSR Ventures | 2 |
| Hillhouse Capital | 2 |
| Hongshan Capital Group (Sequoia Capital China) | 2 |
| Lightspeed China Partners | 2 |
| Mirae Asset | 2 |
| Naspers | 2 |
| NIO Capital | 2 |
| Sequoia Capital | 2 |
| Source Code Capital | 2 |
| Wellington Management | 2 |
Investment Strategy
| Category | Deals (count) | Share (%) |
|---|---|---|
| Led | 17 | 61% |
| Participating | 11 | 39% |
| Category | Deals (count) | Share (%) |
|---|---|---|
| Single-lead | 8 | 47% |
| Co-led | 9 | 53% |
Team
Investor
SVP, Board Director, Co-Founder
VP and Chief Scientist
Co-founder and Chief People Officer
General Manager, Brand Advertising BU
Vice President, Corporate Development
Senior Technical Expert
Co-founder and CEO