Participated · Series C · Nov 2021

Rescale provides a unified digital engineering platform that combines cloud high-performance computing resources, intelligent data management tools, and applied AI to speed modeling and simulation workflows. The company maintains a market-leading library of over 1,250 engineering and R&D applications and a global network of more than 500 cloud datacenters through partners such as AMD, AWS, Arm, Intel, Microsoft Azure, NVIDIA, and Oracle Cloud Infrastructure. Rescale serves hundreds of enterprise customers across aerospace, automotive, energy, life sciences, manufacturing, public sector, and semiconductors; customers including Arm, General Motors Motorsports, Samsung, SLB, and the U.S. Department of Defense spend over $1 billion annually on HPC infrastructure that the platform supports. Planned roadmap priorities include expanding available workflows and compute technologies, establishing a unified data fabric and digital thread for modeling and simulation, adding AI-native search, tagging, and automation, and strengthening enterprise security and compliance with additional government and defense authorizations. The company emphasizes democratizing AI-powered engineering and automating AI Physics tool use, targeting large speed improvements in design validation. Financially, Rescale has raised a $115 million Series D and has now brought total funding to over $260 million. Rescale delivers a platform that enables organizations to run scientific and engineering simulations on public clouds (AWS, Azure, GCP, IBM, Oracle) and manage on-premises HPC resources, schedulers, and licenses. Its network spans 8 million servers with over 80 specialized architectures and resources (e.g., Nvidia Tesla P100 GPUs, Intel Skylake processors, >1TB RAM) delivering a combined 1,400 petaflops of compute. The platform supports workloads across aerospace, automotive, oil & gas, life sciences, electronics, academia, and machine learning, and includes a recommendation engine trained on billions of core hours to optimize performance. Rescale offers on-demand and long-term computing environments and pricing for single batch jobs, optimization jobs, and large designs of experiments, and has expanded its software catalog to more than 800 apps. Since its most recent February funding round the company added over 100 new customers and now counts 200 enterprise subscribers and 400 subscribers overall, including several Fortune 50 businesses. CEO Joris Poort says the new proceeds will be used to grow Rescale’s platform, service offerings, and workforce (the company has 200 employees and expects to grow to 300 in a year). Rescale is a hybrid high-performance computing (HPC) cloud platform delivering intelligent computing for digital R&D. Led by CEO Joris Poort and CTO Adam McKenzie, the company serves more than 300 customers ranging from startups to Fortune 50 enterprises. Rescale enables research scientists and engineers to run simulation and artificial intelligence workloads on the cloud provider of their choice using specialized hardware architectures and software templates optimized for their use cases. The platform requires no setup or maintenance from users. Rescale closed a $50m Series C round, bringing its total funding to over $100m. The company stated it intends to use the funds. Rescale helps companies move legacy high-performance computing (HPC) applications to the cloud or hybrid environments, providing HPC resources and tuning applications for maximum performance. The platform supports bare metal, virtual machines and containers and can leverage on-prem capital assets while extending workloads to different cloud vendors. Rescale targets engineering, aerospace, scientific and other verticals and currently serves about 150 customers, including Sikorsky Innovation, Boom Aerospace and Trek Bikes. The company was founded in 2011 and is based in San Francisco, with roughly 80 employees. Financially, Rescale has raised a total of $52 million to date and recently closed a $32 million Series B. The company plans to use the new capital to hire developers and solutions architects, expand in Asia and Europe, and build relationships with systems integrators to broaden market reach. Rescale provides enterprise-class high performance computing (HPC) platforms that help large enterprises transition from legacy on-premise systems to scalable, agile cloud computing infrastructure. Its platform is deployed securely via a web-based application environment powered by simulation software providers and backed by large HPC infrastructure. The company serves global Fortune 500 customers across aerospace, automotive, life sciences, marine, consumer products and energy sectors. Led by CEO Joris Poort, Rescale has attracted notable seed backers and strategic investors. The company raised a $14M Series A and intends to use the funds to expand worldwide. Total capital raised to date exceeds $20M.

Led · Equity · Nov 2016

Kr Space is a Beijing-based benchmark co-working space company led by President David Zhong that provides flexible workspace, rent reduction, networking opportunities and value-added services for startups and small-to-medium businesses in premium CBD office buildings. The company positions itself to enable rent cuts and workspace flexibility while operating sites in core business districts. It has recently expanded rapidly, taking up nearly 120,000 sqm of office space in China’s first-tier cities over the past three months and securing 14 sites in core areas including Beijing Financial Street, Beijing Wangfujing and Shanghai Lujiazui – Century Link Tower. Kr Space raised 600M CNY in a Series-plus-A round and plans to use the funds to accelerate portfolio expansion with a commitment to reach 300,000 sqm by the end of 2018. The company began running independently from media firm 36Kr in January 2016 and has completed earlier financings, including a Series A funded by Colony New Yangtze Fund, Fenglun, Unity Ventures and Gobi Partners and a 200M CNY Series-plus-A co-led by IDG Capital and Prometheus Capital. KR Space is a co-working space spinoff of technology media and entrepreneur services company 36Kr. The company is presented in the article in the context of China. Prometheus Capital and IDG Capital Partners have invested a combined RMB200 million (about $30 million) in KR Space. The article reports this capital infusion but does not specify the financing instrument or valuation. No operating metrics, use of proceeds, or future plans were disclosed in the piece. The coverage identifies the investors and the amount as the primary financial details available.

Led · Equity · Sep 2016

Renrenche, founded in 2014, is a Chinese used-car marketplace that initially focused on second-hand vehicle trading. It has expanded into financial services and is considering a foray into new-car sales. The company reported 21,000 daily active users in December 2017, according to Jiguang. Renrenche has raised roughly US$760 million across six financing rounds, and it recently closed a US$300 million round led by Goldman Sachs with participation from Tencent and Didi Chuxing. The company has been deepening strategic ties with Didi Chuxing—Didi invested US$200 million last September, added a second-hand car sales feature in its app directing users to Renrenche, and the two firms are cooperating on new car retail and offline vehicle maintenance; Didi is reportedly planning to buy 1 million cars from the marketplace over three years. Tencent also participates but has investments in competing marketplaces including Chehaoduo, Yixin and Uxin. RenRenChe is a China-based, three-year-old online peer-to-peer car marketplace that enables car owners to sell directly to other consumers. The platform operates as a classified site covering over 80 Chinese cities and claims about 100,000 car listings. Its core product is consumer-to-consumer used-car listings and related marketplace services. As part of the deal with Didi, the ride-hailer will look to integrate RenRenChe’s service into its apps and contribute to R&D and technical development. The article notes there are no plans to take that integration overseas with Didi’s global partners. According to Crunchbase, RenRenChe has raised about $460 million to date (including the latest investment). RenRenChe is a Beijing-based online used car marketplace. The company operates an online platform focused on used-car transactions. According to the article, it recently attracted a new funding round totaling $150 million. Prometheus Capital and China Minsheng Investment joined the round. The report did not disclose any revenue, user metrics, valuation, or other operational details. No future plans or product roadmap were described in the article.

Led · Series A · Nov 2015

17 Media is a Taipei, Taiwan–based live webcasting social platform led by Jeffery Huang, Akio Tanaka, and Popo Chen. Its mobile social webcasting app features a multi-layered monitoring mechanism called SKYEYE to ensure broadcast content quality. In its first eight months, its iOS and Android apps recorded more than 10 million downloads. The company plans to use the proceeds and a strategic partnership with LeSports to extend its reach into additional dimensions of user-generated content. It also intends to expand its market in the Greater China region. Financially, 17 Media raised RMB 150 million (NT$750 million/US$23 million) in funding from LeSports Innovation Fund. 17 Media operates 17 App, a photo-sharing and live video streaming platform used by entertainers, celebrities and influencers to distribute content and monetize views. The app has exceeded six million downloads and has topped charts in the U.S., China, Hong Kong, Taiwan, Singapore, Macau, Malaysia and Indonesia. Co-founded by Jeff Huang and Popo Chen, the company has a team of 10. 17 Media raised a $10m Series A and intends to use the funds for platform upgrades and international expansion. In conjunction with the funding, two investors’ principals joined the company board. The company focuses on growing its platform and audience reach internationally.

Participated · 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.