Participated · Series A · Nov 2022

Fizz is a two-year-old social network that launched at Stanford and centers on anonymous, campus-specific posting with upvotes/downvotes, a karma system, and visible "fizzfluence" metrics. The app originally invited users via Stanford email addresses and has expanded to more than 80 college campuses, with a stated goal of reaching 250 schools by year-end. Its core product emphasizes local, real-time campus conversation and community discovery, with moderation handled largely by volunteer student moderators. The company is testing product extensions including an online marketplace for students and has discussed adding job listings; a prominent, unnamed executive is slated to join as chief product officer next month. Fizz’s business model is described as a "work in progress," and executives acknowledge monetization is a current focus. The platform has faced content-moderation challenges and a 2021 privacy breach; company leaders say security practices have since evolved. Financially, Fizz has attracted venture funding to support growth while it refines product and moderation practices. Fizz is a college-only anonymous social app that gives each campus its own community where students can publish text posts, polls and photos without usernames and classmates can upvote or downvote content. Users can DM each other and choose to reveal their identities; the app is currently iPhone-only. Fizz launched on 13 campuses and expanded to 25 in under two months, and it reports 95% penetration among iPhone users on campuses like Stanford, Dartmouth, Pepperdine and Bethune-Cookman. The company says over half of its users engage with the app daily. Fizz has grown from a two-person founding team to about 25 employees and closed a $4.5M seed in June followed by a $12M Series A; it aims to reach 1,000 campuses by the end of 2023. The app experienced a November 2021 security vulnerability that exposed identifying data and PII; Fizz says it fixed the issue within 24 hours, moved PII to a separate secure database, notified users, and has since evolved its security practices. Fizz is an anonymous, campus-restricted social app built by and for college students that supports anonymous text posts, polls, photos and direct messages. Access is limited to students with a valid .edu address and each campus has its own community. The company supplements AI screening with paid peer moderators — about 15 per school — and reports posts are removed within less than a minute on average. Fizz says it has very high adoption in some places (95% of Stanford undergrads have downloaded the app; 70% at Rice) and estimates 50–60% of users on a given campus use the platform daily. The startup is not currently monetizing but has considered a marketplace for student-to-student sales (textbooks, bikes, etc.). Fizz operates with 22 full‑time employees out of a house in Palo Alto and plans to expand to more than 1,000 U.S. campuses by the end of next year.

Led · Series D · Jun 2016

Beibei.com is a China-based e-commerce platform focused on maternal and infant products. The company operates an online marketplace selling maternal and infant goods. According to the article, Beibei.com has raised a $100 million Series D round. The round was led by Northern Light Venture Capital alongside existing investor New Horizon Capital. No operating metrics, valuation, or detailed use of proceeds were disclosed in the article. The article did not describe future plans or other financial details.

Participated · Equity · Mar 2015

Yuantiku provides mobile practice, assessment and personalized question-generation for middle-school students using intelligent algorithms to analyze student data and evaluate ability. The product delivers one-to-one adaptive problem sets to meet individualized learning needs outside the classroom. The company reports 13 million middle-school users and has also released a photo-search homework app, Xiaoyuan Souti, with over 6 million users. Yuantiku plans to apply student data and assessments to personalize teaching and will soon launch a live tutoring platform called Yuanfudao to close the teach-practice-test loop. The company positions student exercise data as its core asset for targeted tutoring. Financially, Yuantiku completed a $60M Series D at a $360M valuation in the announced round.

Participated · Equity · Sep 2014

Kuaidi Dache operates a mobile taxi-booking platform that pairs riders with registered taxi fleets. The company says it has over one million taxis on its platform across more than 300 Chinese cities. An Analysis International report estimated Kuaidi holds a 54.4% share of China’s taxi-hailing app market, which the report says has more than 150 million users. Alongside chief rival Didi Dache, the two apps account for nearly 100% of the taxi app market. Kuaidi has attracted major strategic investors and has raised significant capital to support expansion and competitive positioning. The company faces regulatory scrutiny around unlicensed cabs and private cars used as taxis, though the article notes main players currently use registered fleets and aren’t significantly affected. Kuaidi Dache operates a taxi-hailing and ride-sharing platform that connects users to licensed city taxi fleets and a premium limo service called Kuaidi ONE. The company runs its basic taxi service across 306 cities and handles roughly 6 million hails. Kuaidi ONE launched in July and is available in about 32 cities; it generated roughly $1 million in revenue in its first two months. The company takes a roughly 15% cut of fares for the luxury limo option and requires drivers to undergo up to two months of training. Kuaidi is positioning its product line to compete with services like Uber and Didi by focusing on supply-side partnerships with existing taxi fleets. Leadership is using recent funding to expand the Kuaidi ONE luxury service beyond China into the U.S. and Europe.

Led · Equity · Apr 2014

Arrail Group is a Beijing-based dental services provider. The company provides dental care services in China. Arrail completed a Series E funding round that raised nearly $200 million. The round was led by Singapore state investor Temasek Holdings, per a company statement. The article does not disclose other participating investors, use of proceeds, or operating metrics. Founded in 1998, 瑞尔集团 operates a leading high-end oral healthcare chain in China under the brands “瑞尔” and “瑞泰”. The group runs nearly 100 clinics and hospitals across major cities including Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou, Xiamen, Tianjin, Chengdu, Chongqing, Xi'an, Qingdao, Ningbo, Changsha, Jinan and Wuxi, and has served over 5 million patient visits. Its core offering is professional mid-to-high-end dental care delivered through integrated clinics and hospitals staffed by experienced medical teams. Management emphasizes growing demand for quality dental services as incomes rise and positions the market as a large long-term opportunity. Following the financing, the company formally announced a “thousand-store plan,” targeting the opening of more than 1,000 clinics and hospitals nationwide within 5–8 years. The article highlights the company’s accumulated customer-relationship management, clinical capabilities, and its role as a private-sector leader in China’s dental market. 瑞尔齿科 provides dental and oral healthcare services and has built a 15-year reputation in the sector. The company announced a significant new financing round totaling $70 million. The infusion reflects growing private capital interest as national policies encourage private investment in medical services. Management says the financing will further consolidate 瑞尔齿科's leading position in the dental industry. The deal is expected to accelerate competition and consolidation within the oral healthcare market. 易凯资本 served as the company's exclusive financial advisor on the transaction. Founded in 1998, Rui'er Group operates a leading high-end dental clinic chain in China. The company runs 16 directly operated clinics across Beijing, Shanghai, Shenzhen and Xiamen and offers routine exams, cleaning and whitening, implants, orthodontics, cosmetic dentistry and pediatric dentistry. Rui'er is described in the articles as a recognized leader in China's high-end dental market based on its technical strength, service quality, scale and brand influence. The company completed a $20 million Series B financing in August 2011, reflecting strong market confidence. Rui'er expects to leverage the lead investor's healthcare experience and industry resources to accelerate business development. Yikai Capital acted as the exclusive financial adviser on the transaction. Arrail Dental operates a chain of high-end dental clinics providing international-standard dental care to China’s middle class and expatriates. Founded by Zou Qifang with its first clinic opened in April 1999 in Beijing, the group has expanded to 11 clinics across Beijing, Shanghai and Shenzhen. The company employs nearly 400 professional medical and management staff, about 60% of whom hold master’s or doctoral degrees. Arrail has established a leading brand position in China’s premium dental market. The recent transaction involved an equity restructuring and external financing intended to strengthen the company’s capital structure and support growth beyond directly operated high-end clinics. Management expects the new ownership structure and capital to pave the way for an eventual independent public listing and to enable broader partnerships with domestic and overseas dental schools, institutions and experts.