The Venture Codex

Participated · Series A · Jun 2026

Mindverse develops agent-native AI models and focuses on post-training and continual learning techniques to create adaptive agents. It has produced a 750-billion-parameter agent model based on GLM 5.1, comprising a 744-billion-parameter pretrained base plus a 6-billion-parameter LoRA component. The company uses LoRA to improve learning efficiency and reduce post-training costs. Mindverse maintains partnerships with Huawei Cloud and Microsoft Cloud to enable scalable LoRA-based training and inference. It also operates Macaron, a consumer life-agent app with approximately 2 million users. The company is co-founded by Chen Kaijie and Andrew and recently completed a $50 million Series A led by Meituan.

Participated · Series A · May 2026

OriginFlow develops a NeuroScale data-collection paradigm that uses surface electromyography (sEMG) captured by a proprietary EMG acquisition kit and encoded by its PULSE foundation model to reconstruct human intent, hand posture, force magnitude, and multimodal continuous information. Founded in 2025 and operating officially for about five months, the company positions itself as a "picks-and-shovels" provider for embodied AI rather than a robot-body maker. It has optimized hardware design and supply-chain integration to reduce the price of its full data-collection equipment set to roughly 1,000 yuan, lowering barriers for large-scale deployment. OriginFlow is pursuing dataset-building through strategic cooperation with partners such as 58 Group for home-service scenarios and leading manufacturers for industrial settings. Financially, it has raised over 500 million yuan across angel, strategic, and Pre-A1 rounds to scale deployment and model development. The company acknowledges technical and commercial challenges ahead, including validation of engineering generalization in complex real-world scenarios, robustness to electromagnetic interference and non-standard environments, and sustaining a long-term commercial moat beyond one-time hardware sales.

Participated · Series A · Mar 2026

Vast develops Tripo Studio, a platform that generates 3D models from text and image prompts and powers interactive 3D avatars. The company has a partnership with NetEase to offer instant avatar creation in the role-playing game Yanyun Shiliusheng, allowing players to upload photos for avatar generation. Founded in 2023 by Song Yachen, Vast recently raised nearly $200 million and reached a reported $1 billion valuation. Investors in the company include Alibaba, Baidu and Yongce Capital. Vast is also reported to be exploring a Hong Kong IPO and is working with Bank of America and China International Capital Corporation on its stock issuance plans. The company has not announced detailed financial metrics or specific use of funds publicly in the reports.

Led · Series A · Feb 2024

Zhongji Xincai develops, manufactures and sells precision grinding and polishing materials, with a focus on high-hardness and brittle materials and high-performance abrasive and polishing products. The company provides end-to-end application solutions for mechanical and chemical processing—covering grinding, lapping and polishing systems. Its activities span R&D, production and commercial sales aimed at industrial customers needing high-precision surface finishing. The article reports the company recently completed a Series A financing of more than RMB 100 million. No operating metrics, founding year, or location are disclosed in the article. The financing supports the company’s continued product and application development in precision abrasive materials.

Led · Series A · Jan 2024

Misi Technology (迷思科技) develops MEMS pressure-sensor chips and packaging, focusing on third-generation pressure-sensor chip technology. Founded in 2020, its core team comes from the Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences. The company has developed a series of differential-pressure, absolute-pressure, high-temperature pressure and flow-sensor chips for applications including automotive electronics and medical devices. It reports collaborations with downstream customers, including head-tier new-energy vehicle makers for battery thermal-management sensors and partners to incorporate its smaller pressure chips into smartwatches. Misi has also lowered sensor costs to enable use in consumer products such as e‑cigarettes and has sent samples to downstream customers. The company plans to strengthen product-line and patent coverage across the full pressure range and to continue expanding downstream applications; recently raised capital will support team building and R&D/production.