Overview
Investment fund managed by state-owned capital operations.
Founded
2015
Deals · 12mo
1
Links
Stage focus
Geographic focus
Sector focus
Investment portfolio
| NAME | DATE | SIZE | |
|---|---|---|---|
Vivacta Biotechnology (Shanghai) Co., Ltd. | Apr 2026Participated | $50 MSeries A | |
Brise Pharma | Apr 2024Led | $20 MSeries A | |
JSAB Technologies | Apr 2024Led | $28 MSeries C | |
varnotech | Mar 2024Participated | $83 MSeries B | |
Direct Drive Technology | Mar 2024Led | $14 MSeries B | |
Hunan Tree Industrial Manufacturing | Aug 2023Led | $14 MSeries A | |
Vivacta Biotechnology (Shanghai) Co., Ltd. | Apr 2026Participated | $50 MSeries A | |
Brise Pharma | Apr 2024Led | $20 MSeries A | |
JSAB Technologies | Apr 2024Led | $28 MSeries C | |
varnotech | Mar 2024Participated | $83 MSeries B | |
Direct Drive Technology | Mar 2024Led | $14 MSeries B | |
Hunan Tree Industrial Manufacturing | Aug 2023Led | $14 MSeries A |
Insights
Time horizon
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Deal Distribution
| Round type | Led deals | Participated deals |
|---|---|---|
| Series A | 2 | 1 |
| Series B | 1 | 1 |
| Series C+ | 1 | 0 |
Monthly Deal Activity
| Month | Deals |
|---|---|
| Aug '23 | 1 |
| Sep '23 | 0 |
| Oct '23 | 0 |
| Nov '23 | 0 |
| Dec '23 | 0 |
| Jan '24 | 0 |
| Feb '24 | 0 |
| Mar '24 | 2 |
| Apr '24 | 2 |
| May '24 | 0 |
| Jun '24 | 0 |
| Jul '24 | 0 |
| Aug '24 | 0 |
| Sep '24 | 0 |
| Oct '24 | 0 |
| Nov '24 | 0 |
| Dec '24 | 0 |
| Jan '25 | 0 |
| Feb '25 | 0 |
| Mar '25 | 0 |
| Apr '25 | 0 |
| May '25 | 0 |
| Jun '25 | 0 |
| Jul '25 | 0 |
| Aug '25 | 0 |
| Sep '25 | 0 |
| Oct '25 | 0 |
| Nov '25 | 0 |
| Dec '25 | 0 |
| Jan '26 | 0 |
| Feb '26 | 0 |
| Mar '26 | 0 |
| Apr '26 | 1 |
| May '26 | 0 |
| Jun '26 | 0 |
| Jul '26 | 0 |
| Aug '26 | 0 |
| Sep '26 | 0 |
| Oct '26 | 0 |
Sector Breakdown
A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.
| Sector | Deals |
|---|---|
| Manufacturing | 3 |
| Health & Life Sciences | 3 |
| Hardware & Robotics | 2 |
| Space & Frontier Tech | 2 |
| Clean Energy & Sustainability | 1 |
| Professional Services | 1 |
| Consumer & Lifestyle | 1 |
Deal Size Distribution
Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.
| Round size band (USD) | Deals |
|---|---|
| <$5M | 0 |
| $5M-$10M | 0 |
| $10M-$25M | 3 |
| $25M-$50M | 1 |
| $50M-$100M | 2 |
| $100M-$250M | 0 |
| $250M-$500M | 0 |
| $500M-$1B | 0 |
| $1B+ | 0 |
Deals By Geography
Top 1 of 1 regions; European countries are grouped as Europe.
| Region | Deals |
|---|---|
| China | 6 |
Co-Investors
Bubble size = shared deals
Click a bubble to open that fund in a new tab.
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.
| Co-investor | Shared deals |
|---|---|
| Qiming Venture Partners | 2 |
| 3E Bioventures Capital | 1 |
| Apricot Capital | 1 |
| Beijing State-owned Capital Operation and Management Company | 1 |
| Cnfuel Capital | 1 |
| Decheng Capital | 1 |
| Delian Capital | 1 |
| Eisai Innovation | 1 |
| Lenovo Capital | 1 |
| Loyal Valley Capital | 1 |
| OrbiMed | 1 |
| Vinner Therapeutics | 1 |
| Yizhuang Venture Capital | 1 |
Investment Strategy
| Category | Deals (count) | Share (%) |
|---|---|---|
| Led | 4 | 67% |
| Participating | 2 | 33% |
| Category | Deals (count) | Share (%) |
|---|---|---|
| Single-lead | 2 | 50% |
| Co-led | 2 | 50% |