Participated · Series A · Aug 2025

Arnatar Therapeutics emerged from stealth to advance RNA-based therapeutics using its proprietary platforms, including the ACT-UP1 platform for upregulating protein expression and the DARGER™ platform that combines siRNA with upregulating ASOs. Its lead candidate, ART4, is an up‑regulating antisense oligonucleotide designed to increase endogenous JAG1 protein expression and is administered subcutaneously with once‑monthly dosing. In preclinical studies ART4 increased JAG1 protein levels, restored bile duct development, and reduced markers of liver injury (including bile acids and ALT) in a validated Alagille Syndrome mouse model; it was well tolerated in adult and newborn animals. The company plans to use its new funding to advance the DARGER™ platform and a pipeline targeting cardiometabolic, liver, CNS, and kidney diseases. Arnatar was founded in 2022, received seed financing from Apricot Capital, and is based in San Diego, CA.

Led · Series A · Apr 2024

Founded in 2015 and headquartered in Zhuhai, Guangyu Technology develops and industrializes photonic crystal metamaterials and nano/micro-sphere functional units. The company has built a full-stack, in-house production process from core–shell polymer microsphere synthesis to large-area, industrial manufacturing. Its platform enables high-throughput, continuous, wide-format and low-cost production of photonic crystal effect pigments and films that are solvent- and metal-free. Products target applications across consumer electronics, home appliances, automotive, photovoltaics and construction, with over 50 product designs and partnerships with leading customers. The company operates a production center with annual capacity exceeding 400 tonnes and plans to expand to kiloton-level output following the financing. Guangyu emphasizes environmentally friendly processing, high transmittance, and broad material/process compatibility to replace traditional metal-oxide effect pigments in multiple commercial scenarios.

Participated · Series A · May 2023

Taichu Biotech is a biotechnology R&D firm based in Shanghai that offers developability evaluation services for new drugs. Its core services include mechanism-of-action studies from molecular to organ levels, establishment of in vivo animal models (induced and transgenic), pharmacodynamics research, pharmacokinetics, and toxicology studies. The company is described in reporting as a new-drug developability evaluation service platform. Taichu recently completed a nearly ¥400 million Series A financing. The round was reported to be led by IDG Capital with participation from multiple institutional investors. Company filings list shareholders including Ma Jing (28.56%, RMB 800.00 thousand subscribed capital) and partnership investors with listed subscribed amounts of RMB 673.1944 thousand and RMB 320.098 thousand.

Participated · Series D · Nov 2020

Zhiketong provides digital marketing services primarily to hotels, travel companies, and entertainment businesses. Its most popular offering is direct-sale stores on WeChat; it also provides customer relationship management tools and helps hoteliers optimize offline sales efficiency. The company helps clients gain access to traffic platforms such as Douyin and Alipay. More than 17,000 hotels use its services, including about 85 percent of luxury hotels in China. Founder and CEO Liu Hua said he expects the platform to process transactions worth more than $15 billion by 2025. Zhiketong raised $42.5 million in a Series C round last year and has continued to scale its product set and distribution partnerships. Zhiketong provides direct marketing services for upscale hotels through WeChat, helping properties set up official stores and manage rates, inventory, advertising campaigns, and customer-data analysis. Thousands of upscale hotels and other companies use its platform to maximize direct sales on WeChat, which hotels favor as a cheaper alternative to online travel agencies like Ctrip. The company raised $42.5 million (300 million yuan) in a Series C round. China CYTS Tours plans to use Zhiketong’s services to promote direct, repeat visitors to destinations such as Gubei WTown. CEO Liu Hua founded the company in 2014 with two fellow alumni of eLong. In June Zhiketong previously raised $16 million (110 million yuan) in a Series B.

Participated · Series B · Jun 2020

Founded in 2013 in Niel, Belgium, eTheRNA has developed an integrated set of proprietary capabilities providing an end‑to‑end solution to design, develop, and manufacture next‑generation mRNA products. Its platform includes proprietary molecular designs, lipid biochemistry expertise, customized lipid nanoparticle formulations (cLNPs), mRNA‑based T cell adjuvants, and advanced manufacturing processes. The company says it will leverage this suite of capabilities to serve partners in both early‑stage research and later‑stage development under a partnership‑driven business model. eTheRNA intends to use the funds from the recent financing to expand investment in its integrated mRNA technology platform and pursue new partnership initiatives. It plans to accelerate near‑term revenue growth through technology licensing and mRNA cGMP manufacturing services for multiple partners. Concurrent with the financing the company announced the departure of CEO Steven Powell and the appointment of COO Bernard Sagaert as interim CEO. eTheRNA, based in Niel, Belgium, develops immunotherapies from its proprietary mRNA TriMix platform, which comprises three mRNAs that together amplify immune responses. The company has also developed a proprietary lipid nanoparticle (LNP) platform to enable intravenous delivery of (neo)antigens. Its TriMix and LNP technologies have shown preclinical and clinical activity across major cancer types and are being positioned to act synergistically with standard-of-care treatments. eTheRNA plans to start clinical development of its internal intravenous mRNA delivery programs and to explore partnering opportunities. In infectious diseases, eTheRNA is leading an international consortium developing a cross-strain protective SARS-CoV-2 mRNA vaccine for high-risk populations. The company intends to use new financing to advance multiple therapeutic programs through to clinical proof-of-concept and to support continued development and commercialization of its proprietary mRNA technologies.