Panda Capital
1118 Yan'an West Road, Shanghai, 200052, China
Overview
Founded in 2015, Panda Capital is a new generation venture capital firm in China focused on early-stage businesses powered by innovative and disruptive technology. Panda Capital is a disciplined early-stage investor focused on companies from Angel to Series B stages and strive to become their first or the second institutional investor.We focus on fast-growing tech startups in areas including Data Driven AI Applications, Enterprise Services, Fintech, Logistics, Mobility & Transportation, and New Generation Consumer Trends. Our family of portfolio companies include: Mobike (Now as Meituan Bike), Atzuche, Mi-Me Financial, 1ziton, Intengine Technology, Xunyi (Antwork), Robot++, Aiwhale, Dr. White and Fulmz AI, etc. Panda Capital have received various awards including "2017 & 2018 China Venture Capital Firms Top 10" by Zero2IPO, “2017 China’s Best Venture Capital Firms Top 10” and “2017 China’s Best Return Venture Capital Firms Top 10” by China Venture, and “2017 China Venture Capital Firms in Sharing Economy Top 10” by 36Kr, etc.
- Total investments
- 5
- Lead investments
- 2
- Investments · 12mo
- 0
- Active investors
- 6
Sector focus
- Artificial Intelligence (AI)
- Venture Capital
Investment portfolio
- Blocksport
Led · Seed · Oct 2021
Blocksport is a Swiss‑Ukrainian startup founded in 2019 that builds white‑label branded community apps and an integrated NFT marketplace for traditional sports clubs and esports. Its product bundle includes monetization, gamification, fan engagement features and a secure fan‑wallet that supports votings, crowdfunding and clubcoins. In September the company closed a $500K Seed round led by Panda Capital and additionally raised $400K via token sales (ICO), bringing near‑term funding to $900K. Blocksport used the funds to build and launch its NFT platform, which is integrated with its other services to let clients create digital assets and clubcoins. Management says it will pursue another round of token funding later in the year and target a $10–15M Series A in 2022 aimed at reaching a $30–35M valuation. Co‑founders Vladimir Liulka and Semih Kaçan started the company after meeting in Zurich and are positioning it as an all‑in‑one solution against niche competitors across fan‑engagement and NFT verticals.
- Chimeras
Participated · Equity · Oct 2021
Chimeras is a Play-to-Earn metaverse built around a mobile game with integrated DeFi farming and NFT tokenization that lets players earn from content and gameplay. The project centers on collectible creatures called Chimeras, land ownership, breeding, combat arenas, crafting, markets and auctions. Players receive NFT-based items and CHIM tokens that can be used for breeding, trading, building virtual land plots, in battles, and in farming pools and in-game loans. The team plans to launch its native token CHIM via IDOs and make it freely tradable after the offerings, and is allocating proceeds to product development and marketing. CHIM has a maximum supply of 75,000,000 with initial allocations to the team, leading blockchain-focused funds, advisers, users and farming pools. Financially, Chimeras raised over $2 million in the disclosed funding round; the team includes more than 30 specialists across BlockchainDev, GameDev, and Marketing.
- DeHorizon
Participated · Series A · Oct 2021
DeHorizon is a metaverse game ecosystem led by gaming veterans and web3 experts that builds blockchain-based titles and NFT infrastructure. The company announced a strategic financing round led by Griffin Gaming Partners and Circle Ventures; the press release did not disclose the round size or instrument. This strategic round follows an $8.5 million Pre‑Series A in October 2021 led by Sfermion, Dragonfly Capital, and Everest Ventures Group. DeHorizon says the funding will help incubate a broader portfolio of games, expand the team, and iteratively grow the DeHorizon metaverse. Publicly announced titles include Team battle DeVerse, Battle royale DeTournament, and Dragon-racing DeMythical, with Effigy (a crowd‑sourced medieval fantasy) also in development. The company has launched DeMeta (an editable ERC‑721 NFT), debuted the Dr.De NFT on OpenSea (floor price 4 ETH at press time), begun an internal DeVerse test on Feb 22, 2022 with a 16,535,968 DVT prize pool, and announced partnerships with multiple crypto gaming guilds. DeHorizon Foundation is the team behind DeHorizon, a community-powered Game Metaverse focused on “Play for fun and to Earn.” Its flagship title, DeVerse, is described as the first blockchain-based MMO/RPG on DeHorizon, a high-fantasy action-adventure open-world where players mint NFT monsters, mine resources, undertake quests and tame creatures. The project emphasizes player control of assets, privacy information, and governance through a decentralized autonomous organization (DAO). DeHorizon recently launched an interoperable, editable and evolvable ERC-721 DeMeta Pass ID NFT, with the first batch claimed in under 30 minutes. The organization plans to use new funding to accelerate DeVerse’s development and grow the team.
- Ulti Arena
Participated · Equity · Sep 2021
Ulti Arena operates an NFT Marketplace for game assets on Binance Smart Chain, enabling trading of unique 2D/3D assets, music, sound, and UI/HUD elements. It offers a Proof-of-Gaming client that rewards players with ULTI tokens for playing titles such as DOTA2, LoL, CSGO, PUBG, and Mobile Legends. The company is launching a crypto collectible card game developed in collaboration with FRAG Games and Remote Control Productions. Ulti Arena emphasizes artist and developer monetization via traceable, unique NFTs and aims to create a thriving gaming community. The project is preparing token listings and wider exchange distribution as part of its rollout.
- LemonBox
Led · Series A · Dec 2020
LemonBox sells imported American health supplements to Chinese millennials through online channels, using a WeChat-based lite app that personalizes recommendations after a health questionnaire. The company packages supplements into customized daily packs rather than selling by the bottle. It emphasizes affordability by leveraging founder Derek Weng’s relationships with U.S. manufacturers to cut middlemen costs and undercut pharmacy and multi-level marketing markups. Founded in 2018 and initially YC-backed at seed stage, LemonBox declined to disclose customer size but says its user conversion rate is higher than most e-commerce sites. With new funding it plans to open a second fulfillment center in the Shenzhen free-trade zone after its Silicon Valley-based one, secure health-related certificates, and add Japan to its sourcing regions. The startup aims to use affordability and personalization to gather health insights and broaden its product range. LemonBox imports U.S. vitamins and health products and sells them to consumers in China primarily through a WeChat app and a website. The company uses a personalized packaging approach, likened to Amazon’s PillPack, to tailor vitamin selections for users. LemonBox graduated from Y Combinator’s most recent U.S. program and has a team of 20 (12 full‑time, 8 interns). It raised $2 million from a group of investors to accelerate growth, and business is growing at about 35% per week. The new funding will be used for increased marketing, improvements to the WeChat app and upgrades to the supply chain. LemonBox is contemplating a standalone app and hopes to partner with health and fitness services to gather user data and ultimately use richer data and AI to personalize offerings.