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The Venture Codex

NRL Capital

Beijing, China

Overview

Largest PSD fund in China.

Deals · 12mo

2

Links

WebsiteLinkedIn

Stage focus

Series B
Series C

Geographic focus

China
Singapore
United States

Sector focus

—

Investment portfolio

5rounds
NAMEDATESIZE
Aureka Biotechnologies
Aug 2026Participated
$100 MSeries B
EPG
Jan 2026Participated
$100 MSeries B
NTX™
Aug 2022Participated
$200 MSeries C
Duality Biologics
May 2021Participated
$90 MSeries B
Ronovo Surgical
Jan 2020Led
$26 MSeries B
Aureka Biotechnologies
Aug 2026Participated
$100 MSeries B
EPG
Jan 2026Participated
$100 MSeries B
NTX™
Aug 2022Participated
$200 MSeries C
Duality Biologics
May 2021Participated
$90 MSeries B
Ronovo Surgical
Jan 2020Led
$26 MSeries B
5
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Insights

Time horizon

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Deal Distribution

NRL Capital: 5 funding rounds are recorded in the selected participation categories.All available history.
NRL Capital: 5 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Series B13
Series C+01

Monthly Deal Activity

NRL Capital: 5 deals are recorded across 82 months.All available history.
NRL Capital: 5 deals are recorded across 82 months. All available history
MonthDeals
Jan '201
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '210
Mar '210
Apr '210
May '211
Jun '210
Jul '210
Aug '210
Sep '210
Oct '210
Nov '210
Dec '210
Jan '220
Feb '220
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '221
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '261
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '261
Sep '260
Oct '260

Sector Breakdown

NRL Capital: Health & Life Sciences is the largest displayed sector by deal count (3 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

NRL Capital: Health & Life Sciences is the largest displayed sector by deal count (3 deals). All available history
SectorDeals
Health & Life Sciences3
Manufacturing2
Networks, Cloud & Communication1
Hardware & Robotics1
AI & Machine Learning1
Clean Energy & Sustainability1
Professional Services1
Data, Analytics & IT1

Deal Size Distribution

NRL Capital: 5 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

NRL Capital: 5 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M0
$5M-$10M0
$10M-$25M0
$25M-$50M1
$50M-$100M1
$100M-$250M3
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

NRL Capital: China has the largest recorded deal count among the displayed regions (3 deals).All available history.

Top 3 of 3 regions; European countries are grouped as Europe.

NRL Capital: China has the largest recorded deal count among the displayed regions (3 deals). All available history
RegionDeals
China3
Singapore1
United States1
NRL Capital: 17 co-investors are shown, with Lilly Asia Ventures sharing 2 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

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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.

NRL Capital: 17 co-investors are shown, with Lilly Asia Ventures sharing 2 recorded deals. All available history
Co-investorShared deals
Lilly Asia Ventures2
Matrix Partners China2
Centurium Capital1
Forebright Capital1
GGV Capital1
GL Ventures1
Granite Asia1
Green Pine Capital Partners1
Huagai Capital1
Kington Capital1
LongRiver Investments1
Oriza Holdings1
Silicon Peak1
Vivo Capital1
WuXi Biologics1
Yunfeng Capital1
Yunion Healthcare Ventures1

Investment Strategy

NRL Capital: Led accounts for 20% and participating for 80% of round participation.All available history.
NRL Capital: Led accounts for 20% and participating for 80% of round participation. All available history
CategoryDeals (count)Share (%)
Led120%
Participating480%
NRL Capital: Single-lead accounts for 100% and co-led for 0% of lead dynamics.All available history.
NRL Capital: Single-lead accounts for 100% and co-led for 0% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead1100%
Co-led00%

Team

No team members found for this fund.