Led · Series A · Oct 2025

DDC Enterprise specializes in building and operating corporate Bitcoin treasuries, positioning itself as a conduit for institutional exposure to BTC. The firm has pledged to accumulate 10,000 BTC for its own balance sheet, which would place it among the world’s ten largest public holders of the asset. Complementing this goal, DDC inked a strategic agreement with Animoca Brands to oversee up to $100 million of the Web3 investor’s Bitcoin holdings and generate yield. Founder, Chairwoman, and CEO Norma Chu describes Bitcoin as both a store of value and macro hedge, and she has assembled a dedicated treasury team and crypto-native advisory board to pursue a “disciplined and risk-aware” acquisition strategy. Operationally, the company reported 2024 revenue of $37.4 million, a 33% year-over-year increase, with gross margins expanding from 25% to 28.4% thanks to U.S. acquisitions and cost controls. DDC’s aggressive BTC strategy mirrors moves by peers such as MicroStrategy and Metaplanet, aiming to capitalize on growing institutional acceptance of Bitcoin as a balance-sheet asset.

Led · Equity · Sep 2021

DataYes is a Chinese company that provides AI-enabled data and investment management solutions. The firm combines artificial intelligence with data tools aimed at supporting investment management workflows. It has raised a strategic funding round of about $100 million. The financing was led by alternative investment management major PAG. The article does not list other participating investors or specify instrument types beyond calling it a strategic funding round. No operating metrics, founding year, prior rounds, or planned use of proceeds are mentioned in the article.

Led · Series B · Aug 2021

Inceptio Technology is a Shanghai-based autonomous driving truck technology and operating company. It develops a self-developed full-stack autonomous driving system called Xuanyuan for heavy-duty trucks. Since 2019 the company and Chinese OEMs have jointly developed a line of mass-produced autonomous heavy-duty trucks. Inceptio has built an autonomous driving freight network used by top-tier shippers and fleets in China. The company intends to use new funds to accelerate Xuanyuan's development and to speed up deployment in electrification. The article reports a US$270m Series B equity financing to support product development and deployment. Inceptio Technology develops full-stack autonomous driving systems for heavy-duty trucks and operates a “Technology + Operations” business model. Founded in April 2018 by Julian Ma, the company partners with Dongfeng Commercial Vehicles and SINOTRUK on Level 3 autonomous truck development. It has signed over 100 logistics clients and expects volume production by the end of 2021. Inceptio’s self-developed stack includes ultra-long-range 3D perception and an on-board computing platform rated at 245 TOPS. The company claims leadership in functional safety design and is the first to support homegrown AI chips. It plans to use new funding to accelerate volume production and commercialization of Level 3 autonomous heavy-duty trucks and to extend its lead in China’s autonomous truck market. Inceptio develops full-stack autonomous driving software and an on-board computing platform for L3 heavy-duty trucks and adopts an end-to-end business model to build and operate a nationwide autonomous trucking network. The company partners with OEMs to preload its proprietary software and computing hardware into production trucks and works with global Tier-1 suppliers such as Knorr-Bremse for drive-by-wire steering and braking systems. In March 2020 Inceptio and Dongfeng Trucks completed A-sample validation for volume production—the first such A-sample validation in China’s autonomous driving industry. Its L3 autonomous heavy-duty trucks were planned to roll off OEM production lines by the end of 2021, and Inceptio planned to begin operating its network in 2022. More than 100 logistics and freight companies had signed up for Inceptio's Smart Truck Asset Service, signaling early commercial traction. The company announced completion of a US$100 million capital raising to support its productization and commercialization efforts.

Led · Equity · Mar 2021

Edelweiss Wealth Management (EWM) operates wealth management and capital markets businesses. PAG has made a primary and secondary investment of about ₹2,366 crore into EWM, which will strengthen the equity base and provide growth capital. The firms plan to work toward a demerger and eventual listing of the business. The partnership will focus on strengthening positions in alternatives asset management and asset reconstruction while expanding retail offerings such as housing credit, SME credit, life and general insurance, and mutual funds. EWM reported revenue of ₹880 crore and net profit of ₹180 crore for the nine months of the current fiscal. Edelweiss Group will continue to hold about a 38.5% stake, with an option to increase up to about 44%.

Participated · Series B · May 2019

Alphamab Oncology develops multifunctional biologics for cancer using protein engineering and proprietary platforms, including Bispecific and Mix-mAb platforms and single-domain antibodies. Led by Dr. Ting Xu (Founder, Chairman and CEO), the company is advancing multiple clinical-stage assets. Its pipeline includes KN035 (Envafolimab), a subcutaneous PD-L1 antibody in phase II and phase III trials; KN046, a PD-L1/CTLA-4 bispecific progressing through phase II after phase I trials; KN026, an anti-HER2 bispecific entering phase II in China; and immunomodulator KN019 in phase II. Alphamab has formed partnerships (HEC Research Institute and TOT Biopharm) to develop combination therapies involving KN046. The company plans to use new funds to develop its pipeline, commission a new R&D and manufacturing site, accelerate clinical development of its assets, and prepare for commercial launch of KN035. Financially, Alphamab completed a US$60M Series B in May 2019 following a US$130M Series A in November 2018. Alphamab Oncology is a clinical-stage biopharmaceutical company focused on discovery, development, manufacturing and commercialization of cancer therapeutics. Led by Dr. Xu Ting, the company uses multiple in-house platforms including bispecifics, protein engineering and antibody screening. Its oncology/immunology pipeline includes KN035 (Envafolimab), a subcutaneously administered PD-L1 antibody in pivotal trials in China; KN046, a PD-L1–CTLA-4 bispecific in phase I in Australia with planned phase I/II trials in China and BLA-enabling studies; and KN026, an anti-HER2 bispecific in phase I in China. Alphamab plans to use the financing to advance global clinical development—especially its second-generation immuno-oncology medicine—expand global clinical and commercial teams, and complete construction of its biologics manufacturing facilities. The company completed a Series A financing of more than $100 million to support these objectives.