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Top 50 Health Care Startup Investors in Asia (June 2026)

The most active venture capital funds and angel investors investing in Asia Health Care startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Asia Health Care startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Qiming Venture Partners
VC Fund
88 China, United States, Hong Kong Series B, Series A, Series C Health Care, Biotechnology, Medical $5M–$142M
BioVenture
VC Fund
70 China, United States, Hong Kong Series A, Series B, Seed Health Care, Medical, Biotechnology $1.9M–$73M
HSG
VC Fund
57 China, United States, Hong Kong Series A, Series B, Series C Health Care, Biotechnology, Software $4.4M–$214M
Med-Fine Capital
VC Fund
49 China, Hong Kong, United States Series A, Seed, Series B Medical, Health Care, Biotechnology $2.8M–$60M
Lilly Asia Ventures
VC Fund
43 China, United States, Hong Kong Series A, Series B, Series C Biotechnology, Health Care, Medical $14M–$259M
Matrix Partners China
VC Fund
39 China, United States, Hong Kong Series A, Series B, Seed Health Care, Biotechnology, Software $1.4M–$108M
Mitsubishi UFJ Capital
VC Fund
39 Japan, United States, Singapore Series A, Series B Information Technology, Software, Health Care $2M–$369M
Highlight Capital
VC Fund
39 China, United States, Portugal Series A, Series B, Seed Health Care, Medical, Biotechnology $2.8M–$73M
Frees Fund
VC Fund
38 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Health Care, Biotechnology $425k–$35M
Legend Capital
VC Fund
37 China, United States, South Korea Series B, Series A, Series C Health Care, Medical, Biotechnology $2.8M–$200M
Antler
VC Fund
37 Singapore, Australia, United Kingdom Pre-Seed, Seed, Series A Software, Artificial Intelligence, Information Technology $104k–$29M
IDG Capital
VC Fund
37 China, United States, India Series A, Series B, Series C Software, Internet, E-Commerce $3M–$200M
SMBC Venture Capital
VC Fund
37 Japan, United States, Singapore Series A, Series B Information Technology, Health Care, Software $4.5M–$425M
East Ventures
VC Fund
35 Japan, Indonesia, Singapore Seed, Series A Software, Information Technology, Internet $649k–$38M
ANRI
VC Fund
34 Japan, United States, India Seed, Series A Software, Health Care, Information Technology $628k–$624M
Puhua Capital
VC Fund
33 China, United Kingdom, United States Series A, Series B, Seed Health Care, Medical, Manufacturing $1.4M–$100M
BioTrack Capital
VC Fund
33 China, United States, Singapore Series A, Series B, Seed Biotechnology, Health Care, Medical $3M–$168M
Kaitai Capital
VC Fund
32 China, United States, Singapore Series A, Series B, Angel Biotechnology, Health Care, Pharmaceutical $425k–$57M
UntroD Capital
VC Fund
31 Japan, Singapore, Austria Seed, Series A Manufacturing, Biotechnology, Medical $2.1M–$241M
Marathon Venture Partners
VC Fund
31 China, United States, Hong Kong Series A, Series B, Seed Health Care, Medical, Biotechnology $1.4M–$462M
Fast Track Initiative, Inc.
VC Fund
30 Japan, United States, United Kingdom Series A, Seed, Series B Health Care, Biotechnology, Medical $1.1M–$184M
Seeds Capital
VC Fund
30 Singapore, United States, Hong Kong Seed, Series A Software, Biotechnology, Health Care $767k–$24M
Cowin Capital
VC Fund
30 China, Hong Kong, United States Series A, Series B, Seed Manufacturing, Health Care, Biotechnology $1.4M–$50M
Shanghai Biomedical Industrial Equity Investment Fund
VC Fund
29 China, United States, Hong Kong Series A, Seed, Series B Health Care, Medical, Biotechnology $8M–$142M
Dalton Venture
VC Fund
29 China, India, Canada Seed, Series A, Series B Health Care, Medical, Biotechnology $450k–$47M
Northern Light Venture Capital
VC Fund
29 China, United States, South Korea Series A, Series B, Seed Health Care, Medical, Biotechnology $1.3M–$100M
Legend Star
VC Fund
29 China, United States, France Series A, Seed, Angel Health Care, Medical, Biotechnology $425k–$52M
Shenzhen Capital Group
VC Fund
27 China, United States, Japan Series A, Series B, Series C Manufacturing, Health Care, Software $1.4M–$142M
CDH Investments
VC Fund
27 China, United States, Canada Series A, Series B, Series C Manufacturing, Health Care, Biotechnology $7.3M–$300M
CD Capital
VC Fund
27 China, United States Series A, Series B, Seed Health Care, Biotechnology, Medical Device $1.4M–$34M
Sherpa Healthcare Partners
VC Fund
27 China, United States, Kenya Series A, Series B, Series C Biotechnology, Health Care, Medical $2.8M–$156M
Cowin Venture
VC Fund
26 China, United States, Hong Kong Series A, Angel, Series B Health Care, Medical, Biotechnology $425k–$257M
Nissay Capital
VC Fund
25 Japan, United States, Ethiopia Seed, Series A Health Care, Information Technology, Medical $709k–$71M
Jan Hammer
Angel
24 China, United States, France Series A, Series B, Seed Health Care, Medical, Medical Device $2.5M–$250M
Share Capital
VC Fund
23 China, United States, Colombia Series A, Series B, Seed Health Care, Medical, Biotechnology $142k–$57M
Prox Ventures
VC Fund
23 China, United States, United Kingdom Seed, Series A Medical, Biotechnology, Health Care $1.9M–$28M
UTEC - The University of Tokyo Edge Capital Partners
VC Fund
22 Japan, United States, India Seed, Series A Health Care, Biotechnology, Medical $3.1M–$85M
Oriza Holdings
VC Fund
22 China, United States, Canada Series A, Series B, Series C Manufacturing, Health Care, Biotechnology $1.7M–$200M
Lenovo Capital and Incubator Group (LCIG)
VC Fund
22 China, Hong Kong, United States Series A, Seed, Series B Manufacturing, Artificial Intelligence, Software $2.8M–$145M
Green Pine Capital Partners
VC Fund
21 China, United States, Canada Series A, Series B, Angel Artificial Intelligence, Software, Biotechnology $425k–$150M
TF Capital
VC Fund
21 China, United States Series A, Series B, Seed Biotechnology, Health Care, Medical $5.7M–$120M
Huagai Capital
VC Fund
21 China, United States, Germany Series A, Series B, Angel Health Care, Biotechnology, Medical $425k–$90M
Oriza Seed Capital (Oriza Yuandian)
VC Fund
21 China, United States, Singapore Series A, Seed, Angel Manufacturing, Health Care, Medical $213k–$90M
Nippon Venture Capital
VC Fund
20 Japan, United States, Indonesia Series A, Series B Software, Health Care, Medical $3M–$269M
Lotus Lake Ventures
VC Fund
20 China, India Series A, Series B, Seed Health Care, Medical, Biotechnology $42k–$99M
Sinopharm Capital
VC Fund
20 China, United States, Canada Series A, Series B, Seed Health Care, Biotechnology, Medical $1.4M–$114M
Gaorong Capital
VC Fund
20 China, United States, Hong Kong Series A, Series B, Seed Information Technology, Software, Artificial Intelligence $2.8M–$110M
Keio Innovation Initiative
VC Fund
20 Japan, United Kingdom Series A, Seed Health Care, Medical, Biotechnology $1.5M–$213M
Osaka University Venture Capital
VC Fund
20 Japan Seed, Series A Biotechnology, Health Care, Manufacturing $7.1M–$142M
Mizuho Capital
VC Fund
20 Japan, United States, China Series A, Series B Information Technology, Software, Internet $2.7M–$553M
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Qiming Venture Partners
VC Fund · Shanghai, Shanghai, China · 88 investments in Asia Health Care startups

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong in China, and Singapore.Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.5 billion in capital raised. Since our establishment, we have invested in outstanding companiesin the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.Since our debut, we have backed over 530 fast-growing and innovative companies. Over 200 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 70 portfolio companies that have achieved unicorn or super unicorn status.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series B, Series A, Series C
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 740
  • Round size: Series A $5M–$64M; Series B $10M–$100M; Series C $15M–$142M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $887M in 2023

Portfolio highlights

  • Plum — Plum is an e-commerce platform for second-hand fashion products. It works as a one-stop consignment service platform that provides filming, sales, customer service, sale, and a full set of consignment services. Plum was founded on 2015 and is headquartered in Beijing, China.
  • Bytelumio — Bytelumio creates advanced all-optical networks that deliver high-speed connections of 800G and 1.6T for data centers.
  • Guangjing Energy — Guangjing Energy is a perovskite solar cell module developer, dedicated to the R&D of long-life large-area perovskite solar cell modules.
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BioVenture
VC Fund · Suzhou, Jiangsu, China · 70 investments in Asia Health Care startups

Suzhou Industrial Park Bioventure Investment Management Limited (Bioventure) was established in September 2013. Bioventure its first element of the new bio-industry funds 540 million yuan fund size. Bioventure specialize in the field of life sciences in the early stages of the venture capital investments as having high strength and growth, greaterdevelopment space, excellent management team, biotechnology, drug discovery, medical devices and healthcare services companies, and provide capital, management , operation and other aspects of post-investment support and services.Bioventure brought together senior investment professionals team with bio-pharmaceutical industry investment experience, strong fund management, entrepreneurship and venture capital and operating experience in business, have a deep understanding of the domestic and foreign markets, capable of its forward-looking international perspective and extensive The industry has the potential resources to help innovative companies grow rapidly and gain greater success, while giving fund investors bring considerable returns.Suzhou Industrial Park, the core investor BioBay has the country's best medical and pharmaceutical incubator function, use the platform, the project team has great resources and industrial service advantages, Yuan-sheng venture has successfully invested in 20 projects have been cast projects in their own development and follow-up financing, has made outstanding achievements in the industry for all to see, and won the Venture's trust and praise.By focusing and extensive industry resources, Bioventure determined to become one of China's most successful medical and pharmaceutical venture fund. Bioventure expectations and in the medical and pharmaceutical industry where there joint venture development cooperation.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 165
  • Round size: Seed $7.1M–$20M; Series A $1.9M–$43M; Series B $3M–$73M
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • Jiamuyao Medical — Jiamuyao Medical specialized in developing an energy platform for the comprehensive treatment of complex intravascular lesions.
  • Xingyuanzhi Robotics — Xingyuanzhi Robotics strives to develop multimodal spatial intelligence systems and a universal embodied brain capable of comprehending and interacting with the physical world.
  • MyoGene Life Sciences — MyoGene Life Sciences is a regenerative medical company that specializes in the promotion of its regenerative repair material product line for bone repair.
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HSG
VC Fund · Beijing, Beijing, China · 57 investments in Asia Health Care startups, 10 in the past 12 months

We help founders build enduring companies.

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Investment focus

  • Industry: Health Care, Biotechnology, Software
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 751
  • Round size: Series A $4.4M–$100M; Series B $12M–$200M; Series C $26M–$214M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

  • MarqVision — Effortlessly discover and remove counterfeits to protect your sales and reputation.
  • Midas — Midas is the first neobroker of Turkey, providing zero commission Turkish and American stocks.
  • Yunzhou Zhiwei — Yunzhou Zhiwei is a high-tech startup focused on serving large-scale equipment maintenance industries such as aviation, aerospace, shipbuilding, and rail transit. It leverages smart maintenance concepts and advanced digital technologies to make complex equipment maintenance more efficient and lean. The company drives industrial transformationtoward intelligent maintenance, helping enterprises enhance growth, efficiency, and operational excellence.
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Med-Fine Capital
VC Fund · Shanghai, Shanghai, China · 49 investments in Asia Health Care startups

Med-Fine Capital is a venture capital firm focusing on early stage investments in China healthcare industry. The company is headquartered in Shanghai with offices in Beijing and Shenzhen.

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Investment focus

  • Industry: Medical, Health Care, Biotechnology
  • Stage:Series A, Seed, Series B
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 78
  • Round size: Seed $8M–$60M; Series A $2.8M–$40M; Series B $11M–$60M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — raised $69M in 2019

Portfolio highlights

  • Med-Vision — Virtual reality (VR) medical care service provider based in Hangzhou.
  • Rebbeca Med — Rebecca is committed to the application of precision-controlled MEMS radio frequency technology in clinical disease control and rehabilitation. Its core technology comes from the core team's many years of experience and achievements in research and development and productization at the University of California, Fortune 500 medical equipment,and electronic equipment companies. The company cooperated with domestic university research institutes and many top three hospitals in Beijing, Shanghai, and Hangzhou to independently develop micro-radio frequency technology that surpassed similar products in Europe and America. It focuses on delivering innovative medical solutions to the hands of professional caregivers. Rebecca's team possesses technical expertise in micro-devices, RF, and device integration through years of field practice in micro-electronics and clinical innovation.
  • BV Laser — BV Laser is a manufacturer of medical beauty equipment.
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Lilly Asia Ventures
VC Fund · Shanghai, Shanghai, China · 43 investments in Asia Health Care startups

Lilly Asia Ventures (LAV) is a leading biomedical venture capital firm headquartered in China, with offices in Shanghai, Hong Kong, and Palo Alto.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 212
  • Round size: Series A $14M–$100M; Series B $25M–$112M; Series C $28M–$259M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: May invest from a new fund soon — raised $40M in 2019

Portfolio highlights

  • Passage Bio — Passage Bio, a genetic medicines company, is changing the future of CNS disorders and transforming the lives of patients and their families.
  • Ronovo Surgical — Founded in 2019 and headquartered in Shanghai, Ronovo Surgical is founded by industry veterans from global leaders in surgical and industrial robotics, such as Intuitive Surgical, Johnson & Johnson, Medtronic and KUKA. Aiming to transform how surgery is performed in China, Ronovo is leveraging robust R&D capabilities and strategicpartnerships globally to accelerate the development of a broad portfolio of MIS and digital surgery solutions that exemplifies the core themes of simplicity, precision, and intelligence.
  • Alebund Pharmaceuticals — Alebund Pharmaceuticals is a biopharmaceutical company dedicated to developing innovative therapies for the treatment of renal diseases and related chronic conditions.
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Matrix Partners China
VC Fund · Beijing, Beijing, China · 39 investments in Asia Health Care startups

Matrix Partners China builds long-term relationships with entrepreneurs and helps them build significant, industry-leading companies.Since its inception in 1977, Matrix Partners China has made hundreds of investments and played an active role in the development of many successful businesses, 50 of which went on to IPO, and 75 of which have goneon to profitable M&A events. The firm consistently ranks in the top venture firms in terms of returns to its investors.Matrix Partners China combines local knowledge with global experience and vision. Its team consists of both former entrepreneurs and experienced investors. Its past successes include Focus Media, Eachnet, and Baidu, among others. The company invests across multiple sectors and stages.

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Investment focus

  • Industry: Health Care, Biotechnology, Software
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 440
  • Round size: Seed $1.4M–$32M; Series A $2.8M–$60M; Series B $9.5M–$108M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Lexin — LexinFintech Holdings is an online consumer finance platform for educated young adults in China. As one of China's leading financial technology companies, Lexin integrates its e-commerce-driven installment finance platform, Fenqile, with advanced risk management technologies, the Company's Dingsheng online investment platform, and theCompany's Juzi Licai online investment platform for individual investors, to create a comprehensive consumer finance ecosystem. The Company utilizes technologies including big data, cloud computing and artificial intelligence to enable the near-instantaneous matching of user funding requests with offers from the Company's more than 30 funding partners, which include commercial banks, consumer finance companies, and other licensed financial institutions. By serving the credit needs of China's educated young adults, Lexin helps its more than 20 million registered users to enjoy a better quality of life through the use of better credit.
  • Ambilight — Ambilight focuses on smart and flexible thin-film innovation and manufacturing. The company has multiple international leading technologies, ranging from material synthesis, manufacturing to product design. Two innovation centers, located in Shenzhen and the US, are working strategically with multiple Fortune Global 500 companies.
  • Ucello Therapeutics — Ucello Therapeutics is engaged in development of allogeneic cell therapies using its proprietary CAR-T cell technology platform CBT-X20.
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Mitsubishi UFJ Capital
VC Fund · Tokyo, Tokyo, Japan · 39 investments in Asia Health Care startups

Mitsubishi UFJ Capital is a venture capital firm focusing on life science, ICT, and high technology investments.

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Investment focus

  • Industry: Information Technology, Software, Health Care
  • Stage:Series A, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 501
  • Round size: Series A $2M–$113M; Series B $5.7M–$369M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • Diggle — DIGGLE is a service that provides fundamental management accounting management on the cloud called fraud management. It is possible to reduce the mistakes and man-hours of the fraud management task and easily carry out the fraud management task even if it is not an expert in finance or accounting.DIGGLE covers budget creation work and budgetrecord comparison work, especially in the foreman management work. In the budget creation work, the KPI and the budget are automatically created by inputting the target numerical value to the preset parameters utilizing the budget generator function, while the forecast contrasting work is made up of the financial information, non-financial information It is easy to calculate by simply entering the numerical value, and it is possible to carry out calculation of the forecast contrast.
  • Fermelanta — Fermelanta produces rare plant-based ingredients through microbial fermentation. It engineers a cell to build a biosynthetic pathway of target molecules with gene transfer and disruption.
  • Japan Culture and Technology — Japan Culture and Technology assists artists and craftspeople in expanding their activities by providing IT support.
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Highlight Capital
VC Fund · Nanjin, Jiangsu, China · 39 investments in Asia Health Care startups, 36 in the past 12 months

Highlight Capital is an investment firm dedicated to support healthcare companies to generate robust and sustained growth prospect.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Portugal

Investor stats

  • Total investments: 154
  • Round size: Seed $8.5M–$73M; Series A $2.8M–$73M; Series B $7.6M–$70M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $563M in 2021

Portfolio highlights

  • Yixiu — Yixiu provides sleep health products such as smart wearables, smart home sleep scene hardware, sleep data analysis platforms, energy management apps, and more.
  • Yushi Space — Yushi Space is a liquid rocket developer that focuses on the development and manufacture of large-capacity, low-cost and rapidly reusable liquid rockets.
  • PoShell Robotics — PoShell Robotics is a general-purpose home robot, aiming to create a home-friendly and structurally stable robot.
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Frees Fund
VC Fund · Beijing, Beijing, China · 38 investments in Asia Health Care startups

By adopting revolutionary mechanisms, FREES FUND is devoted to change the long-established rules in the venture capital. By leveraging the cutting-edge technologies and resources, FREES FUND aims at investing in great startups and helping them grow into great enterprises that are valuable to our society. We mainly invest in early-stagestartups, and hope to become their first-round institutional investor. Our primary interested areas are broad-sense TMT (Technology, Media, Telecom), B2B and deep technology.

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Investment focus

  • Industry: Artificial Intelligence, Health Care, Biotechnology
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 199
  • Round size: Seed $1.4M–$14M; Angel $425k–$17M; Series A $1.4M–$35M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $130M in 2015

Portfolio highlights

  • SoundAI — Sound Technology is a science and technology innovation company that specializes in acoustics frontier technology and artificial intelligence interaction. It is committed to lead the more interactive experience of artificial intelligence in the real environment and realize the human-computer interaction vision that "listen to you and know whatyou think".
  • Neurodome — Neurodome is a manufacturer of non-invasive deep brain nerve modulation technology. It focuses on the research and development of non-invasive deep brain nerve modulation products.
  • Pulin Technology — Pulin Technology provides tools and materials for creating nanoimprints and contributes to the study and advancement of fundamental technologies.
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Legend Capital
VC Fund · Beijing, Beijing, China · 37 investments in Asia Health Care startups

Legend Capital, a subsidiary of Legend Holdings Ltd., started its vintage year in April, 2001 with a mission to become a top-notch and the most respected venture capital investment manager in China.Managing up to US$700 million across four funds, Legend Capital focuses on driving high-growth ventures with operations substantially based in Chinaor on markets related to China.Legend Capital mainly invests in early stage IT companies, specifically, in sectors of network applications and services, outsourcing and professional services, Infrastructure (IC design/key components), and mid-market growth stage companies in the fields of consumer goods, clean technology, health care, equipment manufacturing and modern services.Among over 60 portfolio companies are Joyo.com (acquired by Amazon.com), SinoCom (0299.HK), Solarfun Power (Nasdaq: SOLF), Spreadtrum Communications (Nasdaq: SPRD), China Sunshine Paper (2002.HK), and VanceInfo (NYSE:VIT), Eyang (0117.HK), etc.As an active investor, Legend Capital provides its portfolio companies extensive business resources and tailored services to assist with business development, company image building, and other critical company building activities on Chinese market so as to add value and maximize returns. Legend Capital is proud and thankful that it has the opportunity to blaze a trail with its innovative practice for China's venture capital industry.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series B, Series A, Series C
  • Geography: China, United States, South Korea

Investor stats

  • Total investments: 389
  • Round size: Series A $2.8M–$94M; Series B $12M–$113M; Series C $14M–$200M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — raised $177M in 2021

Portfolio highlights

  • ZStack — ZStack Cloud Platform has served more than 1,000 enterprise users and established ecological and channel partnerships with more than 200 cloud vendors, covering government, finance, education, internet, energy, manufacturing and many other industries.
  • PhiSkin — PhiSkin operates as a skin and laser clinic. The company is based in China.
  • Pony.ai — Pony.ai is a startup that builds full-stack autonomous driving solutions. It is a pioneer in autonomous mobility technologies and services across the US and China, spearheading public-facing Robotaxi pilots in both markets. Pony.ai is committed to creating a safe and sustainable mobility future by delivering autonomous mobility everywhere.Thecompany was founded by James Peng and Tiancheng Lou in 2016 and is headquartered in Fremont, California, United States.
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Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Antler
VC Fund · Singapore, Central Region, Singapore · 37 investments in Asia Health Care startups

Build your next company with Antler, a global day zero investor enabling exceptional founders to start great companies, from the very beginning. Apply now!

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Singapore, Australia, United Kingdom

Investor stats

  • Total investments: 1204
  • Round size: Seed $196k–$5.8M; Pre-Seed $104k–$1.1M; Series A $4.6M–$29M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely actively investing — fresh fund, raised $72M in 2024

Portfolio highlights

  • Sapyen — We take the fear out of infertility for men. Test for it at home, without stepping out to the hospital and get personalised health recommendations to improve sperm health and increase your chances of conceiving.
  • Superflex — Elevate your workflow with Superflex, the ultimate Figma-to-code solution. Our AI instantly converts Figma and Image designs into pixel-perfect, production-ready code that meets your standards and boosts team efficiency.
  • One Key Access — One Key Access is an interface to the world of couriers to enable 24/7 frictionless deliveries.
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IDG Capital
VC Fund · Beijing, Beijing, China · 37 investments in Asia Health Care startups

IDG Capital is a global investment firm partnering with founders to build enduring businesses through capital, expertise, and long-term support.

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Investment focus

  • Industry: Software, Internet, E-Commerce
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, India

Investor stats

  • Total investments: 725
  • Round size: Series A $3M–$112M; Series B $7.4M–$142M; Series C $15M–$200M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • RootCloud — ROOTCLOUD is an IIoT platform provider, which has created IIoT platforms that have satisfied the needs of customers worldwide.
  • Yuanfudao — Founded in 2012, Yuanfudao is the largest online live courseplatform servicing primary and secondary school students in China. With a paying userbase of over 1 million, Yuanfudao offers a comprehensive curriculum spanning fromprimary school English, Mathematical Olympiad to all-subject courses in secondaryschool. Its unique online feature and largepool of quality teachers enable students toaccess live online tutoring at home taught by national renowned teachers, benefitinghundreds of thousands of students across the country.
  • Bodor Laser — Bodor Laser is a manufacturing company engaged in the R&D, production, and marketing of laser cutting machines. The company's laser products are high powered and range from 25000W, 30000W, 40000W, and 22000W laser cutting machines. The company is also the highest ranked in 10kW+ laser cutting machine sales volume.
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SMBC Venture Capital
VC Fund · Tokyo, Tokyo, Japan · 37 investments in Asia Health Care startups

Sumitomo Mitsui Banking Corporation (SMBC) and its group companies offer a broad range of financial services centered on banking. They are also engaged in the leasing, securities, credit card, investment, mortgage securitization, venture capital and other credit related businesses. The following lists the activities of SMBC, its subsidiaries andaffiliates in the various business segments.

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Investment focus

  • Industry: Information Technology, Health Care, Software
  • Stage:Series A, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 513
  • Round size: Series A $4.5M–$170M; Series B $5.7M–$425M
  • Lead/follow: 4% lead, 96% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Letara — Letara operates a space technology platform with the intention to serve a logistics network covering the solar system. The company produces hybrid propulsion engines for small spacecraft, promoting groundbreaking advances in space propulsion with high thrust, safe, and inexpensive propulsion system technology.
  • Pragtech — Pragtech develops and operates parking lot service software that helps to eliminate payment congestion and reduce operating costs.
  • Metro Weather — Metroweather is a venture from Kyoto University that develops a high-performance Doppler lidar that measures the direction and speed of wind several tens of kilometers away from minute movements of fine particles in the atmosphere. We aim to contribute to the safety of the sky by completing a three-dimensional wind map, which has never beenrealized,based on years of research at the Kyoto University Research Institute for Sustainable Areas.
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East Ventures
VC Fund · Tokyo, Tokyo, Japan · 35 investments in Asia Health Care startups

East Ventures is an early stage venture capital (VC) focused on Southeast Asia, Indonesia & Japan. Success cases include Tokopedia, Traveloka, and Mercari.

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Investment focus

  • Industry: Software, Information Technology, Internet
  • Stage:Seed, Series A
  • Geography: Japan, Indonesia, Singapore

Investor stats

  • Total investments: 448
  • Round size: Seed $649k–$18M; Series A $2.1M–$38M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • FR8Labs — FR8Labs offers a practical freight forwarder solution that includes all of the modules required, without the extraneous trappings of overly sophisticated features that may not use but wind up paying for.
  • Runchise — Runchise is an integrated restaurant and franchise management system to increase operational efficiency and profit.
  • Fresh Factory — Fresh Factory runs a web of hyperlocal cold-chain fulfilment centers in Indonesia.
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ANRI
VC Fund · Tokyo, Tokyo, Japan · 34 investments in Asia Health Care startups

ANRI is a Japanese venture capital firm that mainly invests in seed and early-stage startups.

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Investment focus

  • Industry: Software, Health Care, Information Technology
  • Stage:Seed, Series A
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 240
  • Round size: Seed $628k–$92M; Series A $6.1M–$624M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: Likely still investing — raised $102M in 2022

Portfolio highlights

  • MOVeLOT — MOVeLOT is an AI company that provides skeletal platform and robot planning, development, and production services.
  • Chaintope — Chaintope is specializes in blockchain technology with a focus for FinTech and non-FinTech sectors.
  • xCARE — xCARE specializes in the development and commercialization phases of the pharmaceutical and medical device industries.
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Puhua Capital
VC Fund · Hangzhou, Zhejiang, China · 33 investments in Asia Health Care startups

Puhua Capital is an equity investment firm that focuses on early and middle project. Puhua Capital provides the required resources and management experience for the invested enterprise, investing funds and more resources and wisdom. Puhua Capital has invested nearly 300 excellent start-ups.

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Investment focus

  • Industry: Health Care, Medical, Manufacturing
  • Stage:Series A, Series B, Seed
  • Geography: China, United Kingdom, United States

Investor stats

  • Total investments: 202
  • Round size: Seed $1.4M–$29M; Series A $1.4M–$41M; Series B $2.8M–$100M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • SafeCare — SafeCare is an innovative therapeutics company that focuses on the technology realization, product development, and clinical implementation of new applications of electric field therapy.
  • Yitang Technology — Yitang Technology is a developer specializing in high-speed and high-precision placement machines. The company is dedicated to the research and development (R&D) of these advanced machines, as well as the industrialization of intelligent production line solutions.
  • Garen Semiconductor — Garen Semiconductor focuses on the R&D, production and sales of semiconductor materials (such as gallium oxide).
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BioTrack Capital
VC Fund · Shanghai, Shanghai, China · 33 investments in Asia Health Care startups

BioTrack Capital invests in early and growth stage companies within life sciences, healthcare technology, biotechnology and related high-tech sectors, providing capital and investment support for innovation. The firm evaluates scientific and commercial potential of ventures and structures financings aimed at advancing technologies from earlyresearch to market engagement. Its activities include sourcing opportunities, conducting due diligence, and working with founders and management teams to align growth strategies with investor objectives. BioTrack Capital also participates in funding rounds alongside co-investors to support development of novel healthcare and tech solutions. The company engages with portfolio companies through strategic interaction and monitoring of progress toward business milestones.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 84
  • Round size: Seed $14M–$168M; Series A $3M–$43M; Series B $14M–$150M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • PrinoPharma — PrinoPharma focuses on developing novel druggable sites targeting difficult-to-drug or existing druggable targets.
  • Shenluo Medical — Shenluo Medical manufactures functional neural implantable medical devices.
  • LaNova Medicines — LaNova Medicines is a clinical-stage innovative drug research and development company. The company focuses on the unmet therapeutic needs in the field of tumor immunity and tumor microenvironment and focuses on the research and development of "world's first" and "best-in-class" potential bio-innovative drugs.
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Kaitai Capital
VC Fund · Hangzhou, Zhejiang, China · 32 investments in Asia Health Care startups

KAITAI CAPITAL, founded in 2009, is a professional investment management organization that mainly engaged in innovative investment, industrial investment, and wealth management business. Fields of investment include biopharma, healthcare services, agriculture tech, consumer business, digital technology and etc.

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Investment focus

  • Industry: Biotechnology, Health Care, Pharmaceutical
  • Stage:Series A, Series B, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 123
  • Round size: Angel $425k–$14M; Series A $1.4M–$35M; Series B $4.3M–$57M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Primelink Bio — Primelink Bio is a Biotechnology firm that is working to to develop next generation of drug delivery systems.
  • Huaboron Neutron — Huaboron Neutron is a biotechnology company that develops boron drugs and boron neutron capture therapy devices for the diagnosis of malignant cancers.
  • Astrocyte Pharmaceuticals — Astrocyte Pharmaceuticals Inc. is a privately held drug development company dedicated to accelerating the recovery and well-being of brain injury patients. The company is committed to proving the neuroprotective benefits of selective astrocyte activation, and advancing breakthrough therapeutic agents for treating brain injury resulting from stroke,TBI, concussion, and neurodegenerative disorders such as Alzheimer’s disease.
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UntroD Capital
VC Fund · Sumida, Tokyo, Japan · 31 investments in Asia Health Care startups

UntroD Capital is an R&D-based innovative technology that specializes in social implementation.

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Investment focus

  • Industry: Manufacturing, Biotechnology, Medical
  • Stage:Seed, Series A
  • Geography: Japan, Singapore, Austria

Investor stats

  • Total investments: 124
  • Round size: Seed $3.2M–$43M; Series A $2.1M–$241M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

  • CastBio — Castbio specializes in antibody-drug conjugate-based drug discovery research and development. Along with medications, it also creates research reagents, medical equipment, in vitro diagnostic items, and offers drug discovery consulting.
  • Illumi Medical — Illumi Medical is a manufacturing company that produces medical equipment and devices for the healthcare sector.
  • Reborna Biosciences — Reborna Biosciences provides research and development in the field of genetic diseases. The company develops therapeutic options for area of unmet medical needs in genetic rare disease. The company's technology enables low-molecular compounds to target ribonucleic acid. The company provides new disease-modifying drugs for patients sufferingfrom rare genetic diseases including spinal muscular atrophy.
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Marathon Venture Partners
VC Fund · Shanghai, Shanghai, China · 31 investments in Asia Health Care startups

Marathon Venture Partners is an international VC fund that focuses on early and growth stage companies in healthcare and Fintech industry.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 63
  • Round size: Seed $7M–$13M; Series A $1.4M–$28M; Series B $14M–$462M
  • Lead/follow: 46% lead, 54% follow

Portfolio highlights

  • Fungifuture — Fungifuture is a synthetic biomaterials company specializing in the research and development and production of fungal fiber materials.
  • Ruize Health — Ruize Health is a commercial insurance company that focuses on health consumption and commercial insurance.
  • Fuxin Technology Innovation — Fuxin Kechuang is a high-tech company that specializes in offering detailed information solutions for the medical and healthcare industries. The business offers creative software solutions and services to a range of healthcare organizations, actively supports the digital transformation of healthcare, and uplifts the medical sector. The company hasgained recognition and has become a partner of big and medium-sized medical institutions and healthcare institutions by relying on its technological research and development power, service capabilities, and ecosystem of medical and health software.
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Fast Track Initiative, Inc.
VC Fund · Hongo, Tokyo, Japan · 30 investments in Asia Health Care startups

Fast Track Initiative is a venture capital firm with an exclusive focus on life sciences and healthcare services.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series A, Seed, Series B
  • Geography: Japan, United States, United Kingdom

Investor stats

  • Total investments: 77
  • Round size: Seed $1.2M–$117M; Series A $1.1M–$142M; Series B $7.7M–$184M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $1.1B in 2021

Portfolio highlights

  • Global Vascular
  • Sonire Therapeutics — Sonire Therapeutics provides High-Intensity Focused Ultrasound treatment for cancer.
  • Neusignal Therapeutics — Neusignal Therapeutics is a medical company that develops therapeutic medicines for dementia and psychiatric illnesses.
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Seeds Capital
VC Fund · Singapore, Central Region, Singapore · 30 investments in Asia Health Care startups

Catalysing smart monies into Singapore-based, early-stage technology startups.

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Investment focus

  • Industry: Software, Biotechnology, Health Care
  • Stage:Seed, Series A
  • Geography: Singapore, United States, Hong Kong

Investor stats

  • Total investments: 130
  • Round size: Seed $767k–$6M; Series A $3.5M–$24M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Biorithm — Biorithm is a company that creates obstetrics remote monitoring platforms and point-of-care devices for pregnant and postnatal patients. The company combines proprietary data analytics software and medical-grade wearables to monitor a wide range of pregnancy vital data such as fetal heart rate, uterine contractions, and maternal heart rate,allowing clinicians to gain new insights into the health of the mother and baby while also providing expecting mothers with better access to healthcare, convenience, and more information about their pregnancy to identify early signs of complications.
  • Mushroom Material — We can match the mechanical properties of polystyrene styrofoam and replace any existing packaging with a sustainable mushroom alternative
  • XSQUARE Technologies — XSQUARE sets out to optimise and reshape the warehousing scene by developing a suite of proprietary AGVs and best-in-breed warehouse automation solutions.
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Cowin Capital
VC Fund · Shenzhen, Guangdong, China · 30 investments in Asia Health Care startups

Cowin Capital is a private placement equity investment company focusing on investing in a pioneering enterprise on a long-term basis. It has 18 years of experience in capital management, whose capital management scale was among the front rank, which invested more than 300 companies, of which 60 more became public companies, and 150 moresuccessfully exit.The company was successfully listed on NEEQ, with code 832793, as the third listed famous domestic venture capital institution in NEEQ. It is committed to supporting the growth of small and medium enterprises, continue to launch high-quality listed companies in China Capital Market.

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Investment focus

  • Industry: Manufacturing, Health Care, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 282
  • Round size: Seed $1.4M–$20M; Series A $4.3M–$43M; Series B $2.8M–$50M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: May invest from a new fund soon — raised $75M in 2014

Portfolio highlights

  • Hohem — Hohem is a world-leading brand dedicated to AI tracking gimbals for video shooting, providing consumer and professional stabilizers for smartphones and cameras.
  • AnDiConBio — developer of respiratory anti-infection drugs, offering high-potential, low-risk products like new anti-influenza and oral anti-new coronavirus.
  • Hengpujiguang — Hengpujiguang is a developer of 3D printing metal machine.
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Shanghai Biomedical Industrial Equity Investment Fund
VC Fund · Huangpu, Shanghai, China · 29 investments in Asia Health Care startups

Shanghai Biomedical Industrial Equity focuses on areas that are in line with the development strategy of the biomedical industry.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Seed, Series B
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 63
  • Round size: Seed $8M–$50M; Series A $10M–$36M; Series B $14M–$142M
  • Lead/follow: 59% lead, 41% follow

Portfolio highlights

  • Haimai Medical — Haimai Medical is a platform for tissue engineering and regenerative medicine technology. It focused on the development and manufacture of allogeneic small-caliber tissue-engineered blood vessels suitable for the establishment of chronic renal failure dialysis vascular access, lower extremity arterial trauma blood vessel replacement, lowerextremity atherosclerosis, and coronary heart disease bypass surgery.
  • Surgerii Technology — Beijing Surrey is a technology company founded by an industry elite active in China's medical equipment. Relying on the core technology of the new generation of flexible continuum robotic arm, running through the implementation paradigm of many types of clinical minimally invasive surgery, and harnessing the powerful system design andintegration capabilities, Beijing Shurui is committed to becoming the first independent independent research and development, production and sales in China.
  • Spectrum-Dynamics — attenuation correction, deep learning, stress test, CTLC, Nuclear Medicine, Digital SPECT, CZT
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Dalton Venture
VC Fund · Shanghai, Shanghai, China · 29 investments in Asia Health Care startups

Dalton Venture is a fund management company that specializes in early stage investment and industrial mergers and acquisitions in the field of big health.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Seed, Series A, Series B
  • Geography: China, India, Canada

Investor stats

  • Total investments: 133
  • Round size: Seed $450k–$5M; Series A $2.8M–$17M; Series B $2.8M–$47M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • MacroLux — MacroLux Medical Technology Co., Ltd.
  • Kangyuan Medical — Kangyuan Medical is committed to developing, and manufacturing a new generation of precise and effective blood purification adsorption materials.
  • MaiKeWei Medical — MaiKeWei Medical is a national high-tech company. It has an entire system that includes production, sales, and R&D.
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Northern Light Venture Capital
VC Fund · Beijing, Beijing, China · 29 investments in Asia Health Care startups

Supporting the next generation of entpreneurs in enterprise, healthcare, and consumer with disruptive potential.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, South Korea

Investor stats

  • Total investments: 242
  • Round size: Seed $1.3M–$100M; Series A $4.3M–$40M; Series B $11M–$62M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: Likely still investing — raised $375M in 2021

Portfolio highlights

  • VOC AI — VOC AI offers AI tools for ecommerce insights and customer service solutions.
  • Wanglitong — Wanglitong manufactures lithium battery auxiliary materials. It currently specializes on lithium battery films and membrane materials. Its current product lines include brown high-temperature tape, milky white OPP tape, and TPU expansion tape, all of which have reached mass production.
  • Bianzhong New Materials — Bianzhong New Materials is a high-tech company that specializes in the research and development of equipment for weaving and shaping three-dimensional preforms of high-strength fiber composite materials.
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Legend Star
VC Fund · Beijing, Beijing, China · 29 investments in Asia Health Care startups, 6 in the past 12 months

Legend Star helps entrepreneurs create great businesses through investments, CEO training sessions and an entrepreneurs alliance.Since 2008, Legend Star has incubated and invested in nearly 600 companies and is deeply integrated in the Chinese entrepreneurial ecosystem.Legend Star is the independent early-stage investment arm of LegendHoldings. Legend Holdings is the parent company of Lenovo, Raycom Real Estate, Joyvio Agribusiness and a large range of fast-growing Chinese companies.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, France

Investor stats

  • Total investments: 137
  • Round size: Seed $1.4M–$19M; Angel $425k–$7.1M; Series A $1.4M–$52M
  • Lead/follow: 22% lead, 78% follow
  • Last fund: May invest from a new fund soon — raised $109M in 2018

Portfolio highlights

  • LyncBio Therapeutics
  • Beijing Anton Fusion — Beijing Anton Fusion is an innovative company that specializes in commercial power production technologies.
  • Booster Robotics — Accelerating Evolution is a humanoid robotics company. It provides humanoid robots to AI firms and research institutes, as well as quick mass production and supply of standard items.
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Shenzhen Capital Group
VC Fund · Shenzhen, Guangdong, China · 27 investments in Asia Health Care startups

Shenzhen Capital Group Co., Ltd (“SCGC”) is a limited venture capital company established by the Shenzhen Government in 1999. Since its establishment, SCGC has focused on cultivating national industries, shaping national brands, promoting economic transformation, and emerging industries developing. SCGC has registered capital of 5.42 billion RMB,and a total AUM of 338.99 billion RMB. SCGC primarily invests in SMEs, innovative high-tech enterprises, enterprises in emerging industries, and enterprises in start-up period, growth period and in transformation, covering industries supported by national policies, including IT, internet, new media, biopharma, new energy, environmental protection, chemical engineering, new material, high-end equipment manufacturing, consumption goods, modern service, etc. By the end of April 2019, SCGC ranked the first based on the number of portfolio companies and the number of listed portfolio companies: 994 portfolio companies, investments totaling 43.9 billion RMB, 145 of which have been listed in 16 capital markets worldwide.

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Investment focus

  • Industry: Manufacturing, Health Care, Software
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Japan

Investor stats

  • Total investments: 408
  • Round size: Series A $1.4M–$142M; Series B $13M–$142M; Series C $4.3M–$142M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Enrikenuo — Enrikenuo is a biotechnology company that focuses on the research and development of new generation CAR-NK technology based cell drugs.
  • MoleculeMind — MoleculeMind is an AI-integrated biotech firm that fuses artificial intelligence with biotechnology to form a new development platform.
  • Biosun Pharma — Biosun Pharma is an innovative biopharmaceutical company that specializes in the production of drugs for tumors, self-immune diseases, and inflammatory diseases.
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CDH Investments
VC Fund · Kowloon City, Kowloon, Hong Kong · 27 investments in Asia Health Care startups

CDH Investments is an international alternative asset fund manager with over $27 billion of assets under management. CDH Investments was established in 2002 by the former private equity group of China International Capital Corporation and is managed by an experienced team of senior private equity professionals who have worked together for manyyears focusing all their professional time on investing in China. CDH has consistently delivered superior returns relative to industry peers and is well positioned to continue to generate superior returns due to the team's proven investment experience and expertise investing in China.

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Investment focus

  • Industry: Manufacturing, Health Care, Biotechnology
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 272
  • Round size: Series A $7.3M–$198M; Series B $14M–$142M; Series C $14M–$300M
  • Lead/follow: 47% lead, 53% follow

Portfolio highlights

  • Spear Bio — Successive Proximity Extension Amplification Reaction (SPEAR) technology from Spear Bio enables ultra-sensitive biomarker detection using ultra-small samples.
  • Vision Medicals — Vision Medicals is a provider of pathogenic gene diagnostic services, focusing on infection-precise medical treatment, high-throughput sequencing-based pathogen metagenomics and CRISPR-based rapid diagnosis and other new technologies, effectively improving the detection ability of clinical pathogens and shortening The reporting cycle acceleratedthe development of the infection-accurate medical industry. The company developed a pathogenic nucleic acid enrichment technology with independent intellectual property rights for the detection of pathogenic micronucleic acids in clinical samples. The pathogen macro was established through the accumulation of pathogen detection big data. Genomics intelligent analysis and reporting system.
  • ReviR Therapeutics — ReviR Therapeutics is a genomics-based platform that develops novel medicines targeting human RNAs.
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CD Capital
VC Fund · Shanghai, Shanghai, China · 27 investments in Asia Health Care startups

CD Capital is a venture capital firm specialized in life sciences and medical technology. They are currently managing both RMB and USD funds with total size of $600M. CD Capital is operated by a professional team with diversified and profound industry backgrounds. They have made over 40 investments with high growth potential and earned a reputationas a premier venture capital firm with main focus on China healthcare industry. With broad network around China and the world, they have been able to seize the global trend, capture investment opportunities as well as help to define the future for China healthcare industry. Ultimately, they strive to grow best-in-class companies and deliver solid financial return to their investors.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical Device
  • Stage:Series A, Series B, Seed
  • Geography: China, United States

Investor stats

  • Total investments: 69
  • Round size: Seed $1.4M–$14M; Series A $1.4M–$32M; Series B $7.1M–$34M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Pipi Bear
  • Senas Medical — Senas Medical focuses on innovative cardiac electrophysiology solutions.
  • Greenon Biotech — Greenon Biotech specializes in the research, development, production, and promotion of alternative antibiotic preparations for animals, which primarily include bacteriophages, probiotics, plant extracts, novel acid preparations, high-efficiency disinfectants, and so on.
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Sherpa Healthcare Partners
VC Fund · Beijing, Beijing, China · 27 investments in Asia Health Care startups

Sherpa Venture Capital is an investment firm that focuses on the investment and cultivation of the Pharmaceutical and Biotech industry. It also specializes in the investment and management of sector leaders and innovators within the Pharma, GeneTech, MedTech, Medical services, and various sub-sectors, where they have established robust portfoliosources, lasting value-adding cooperations and relationships, as well as mature all-cycle services with key resources. It was founded in 2018 and is headquartered in Beijing, China.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Kenya

Investor stats

  • Total investments: 99
  • Round size: Series A $2.8M–$50M; Series B $14M–$100M; Series C $12M–$156M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • Brise Pharma — Brise Pharma operates in the scientific research and technical service industry.
  • Archimedes Vascular — Archimedes Vascular operates as a medical device company, that treat patients with severe hypertension.
  • Biortus — Wuxi Biortus Biosciences is an innovation-driven contract research organization (CRO) committed to high-quality R&D services in support of drug discovery.To help our clients achieve their drug discovery goals, we have established five world-class research platforms. These are Recombinant Protein Production, Structural Biology (X-rayCrystallography and Cryo-EM), In Vitro Assays and Screening, Medicinal Chemistry, and Process Development. Through the years, our R&D team has developed a number of practical and innovative techniques of which some have already been granted patent.
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Cowin Venture
VC Fund · Beijing, Beijing, China · 26 investments in Asia Health Care startups

Founded in 2009, Cowin Venture is an angel and early-stage investor in TMT and Healthcare. We keep nurturing growth-stage companies graduated from their angel investment portfolio. Cowin’s business network covers China and USA. They have offices in Suzhou, Nanjing, Shanghai, Beijing and Hong Kong.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Angel, Series B
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 97
  • Round size: Angel $425k–$1.4M; Series A $1.4M–$28M; Series B $2.8M–$257M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Furong Biotech — Furong Bio is a developer of innovative tumor immunology drugs.
  • Amador Bioscience — At Amador we provide global-standard translational sciences and clinical pharmacology services to leading biopharmaceutical companies.
  • BioTroy Therapeutics — BioTroy Therapeutics is engaged in tumor immunity and is used for multi-omics tumor analysis, receptor-ligand discovery, research on target signal transduction pathways, antibody discovery and engineering, drug efficacy and large animal translational medicine, biomarkers, and precision medicine.
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Nissay Capital
VC Fund · Tokyo, Tokyo, Japan · 25 investments in Asia Health Care startups

Nissay Capital is a venture capital Company specializing in seed, start-up, growth capital, middle stage, and later stage investment.

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Investment focus

  • Industry: Health Care, Information Technology, Medical
  • Stage:Seed, Series A
  • Geography: Japan, United States, Ethiopia

Investor stats

  • Total investments: 239
  • Round size: Seed $709k–$43M; Series A $2.7M–$71M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • Menou — MENOU specializes in AI technology and sensing technology. It features a graphical image identification modeler software.
  • Castee — Castee provides social collaboration services and also helps with a tool for job requests and overseas projects for creators.
  • 3S — 3S is a SaaS developer platform that provides and operates 24-hour home nursing care services through technology.
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Jan Hammer
Angel · London, England, United Kingdom · 24 investments in Asia Health Care startups

Jan Hammer is the partner at Index and the Board observer of Harmonic. Jan attended Oxford University.

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Investment focus

  • Industry: Health Care, Medical, Medical Device
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, France

Investor stats

  • Total investments: 72
  • Round size: Seed $2.5M–$15M; Series A $2.8M–$50M; Series B $14M–$250M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • Sofía — Improving the way millions of people take care of their health
  • Transak — Transak offers a simple integration to allow your users to buy more than 100+ cryptocurrencies with credit/debit cards, or bank transfers in more than 120+ countries.
  • Yuetong Eye Clinic — Yuetong Eye Clinic is a medical institution that provides myopia surgery for adults and myopia prevention and control for adolescents. It is a medical institution focusing on adult myopia surgery and adolescent myopia prevention and control.
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Share Capital
VC Fund · Shenzhen, Guangdong, China · 23 investments in Asia Health Care startups

Share Capital is a venture capital firm specializing in seed, start-up, early, middle, growth capital, and Pre-IPO investments. it primarily invests in big living, medical healthcare, and internet innovation. In medical healthcare, it seeks to invests in pharmaceuticals, innovative equipment, biotechnology, diagnostic testing equipment andreagents, anti-infectives, drug discovery, medical health service, mobile medical services, and informatization.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Colombia

Investor stats

  • Total investments: 112
  • Round size: Seed $142k–$6.9M; Series A $1.4M–$15M; Series B $2.8M–$57M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • Microview — Microview is a high-tech enterprise specializing in the research and development of high-precision complex process chip packaging equipment.
  • SuperDimension Power — SuperDimension is dedicated to creating leading embodied intelligent brains and robot bodies.
  • Help Therapeutics — Help Stem Cell Innovations Co. Ltd. is the first biotechnology company in China to use iPSC-induced pluripotent stem cell technology to regenerate myocardial, liver, nerve and other tissues and organs. Relying on this core technology, Elp Regenerative Medicine is committed to building a national biological sample bank and cell preparation center,leading the frontier of cell therapy, promoting the clinical transformation of regenerative medicine, and solving the clinically unresolvable degenerative and functional impairment diseases. Reshape human health.
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Prox Ventures
VC Fund · Shanghai, Shanghai, China · 23 investments in Asia Health Care startups

Proxima Ventures focuses in the healthcare industry, supporting outstanding enterprises with innovative technologies or service models that have tremendous potential.They manage multiple funds in RMB and US dollar, covering from seed to growth stages. Their team members with multidisciplinary backgrounds and resourceful networks, have many yearsof remarkable venture capital experience and achievements. They believe that active and effective collaboration with entrepreneurs will make substantial economic returns while bring meaningful improvements in public health.

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Investment focus

  • Industry: Medical, Biotechnology, Health Care
  • Stage:Seed, Series A
  • Geography: China, United States, United Kingdom

Investor stats

  • Total investments: 76
  • Round size: Seed $1.9M–$5.6M; Series A $2.8M–$28M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • DotBio — DotBio is a biopharmaceutical company specialized in next-generation domain antibody therapies.
  • Coastar Therapeutics — Coastar Therapeutics develops an erythrocyte enveloped virus delivery technology platform to perform repeated virus dosing. It evades recognition and attack by the immune system to address the challenges of systemic and repeated administration of drug therapies. Coastar's process technology and “red blood cell membranes only” enable thecompany to overcome the challenges of mass production and standardization, and has cost advantages. The company's first product targets oncolytic viruses and is developing ELCV solutions for other therapies.The company was founded in 2017 and is based in San Diego, CAlifornia.
  • Leadinno Medical Valley — Leadino Medical Valley is a producer of medical devices for neuroregulatory functions.
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UTEC - The University of Tokyo Edge Capital Partners
VC Fund · Tokyo, Tokyo, Japan · 22 investments in Asia Health Care startups

UTEC-The University of Tokyo Edge Capital Partners Co., Ltd.. UTEC is a seed/early stage technology focused venture capital firm associated with The University of Tokyo.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Seed, Series A
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 175
  • Round size: Seed $3.1M–$54M; Series A $5.2M–$85M
  • Lead/follow: 37% lead, 63% follow

Portfolio highlights

  • ImmunoScape — ImmuniScape discovers and develops novel TCR-based therapeutics against solid tumors
  • Metcela — Cells hold endless possibilities. Through science, we will unlock these potentials and harness them to improve the lives of patients worldwide.
  • Startbahn — Startbahn develops Startrail, a sustainable and scalable blockchain infrastructure that assures the reliability, authenticity, and traceability of artworks.
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Oriza Holdings
VC Fund · Suzhou, Jiangsu, China · 22 investments in Asia Health Care startups

Oriza Holdings is a Chinese management fund that covers equity, debt financing, and investment since 2007.

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Investment focus

  • Industry: Manufacturing, Health Care, Biotechnology
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 189
  • Round size: Series A $1.7M–$43M; Series B $10M–$100M; Series C $14M–$200M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • TuringQ — Established in February 2021, TuringQ is committed to the research of quantum information. Through the R&D of lithium niobate on insulator (LNOI) photonic chips and femtosecond laser direct writing technology, the photon chips that enable large-scale photonic circuits integration can be prepared and an optical quantum system with a whole newlevel of scale and complexity can be built. At present, TuringQ has achieved leading advantages in photonic quantum chips, scientific research-grade photonic quantum computers, photonic quantum measurement and control systems, photonic quantum EDA software, and photonic quantum cloud platforms.
  • Zhongke Jiahe — Zhongke Jiahe develops compilation technology and aspires to build a universal, low-cost, high-performance fundamental software tool chain.
  • Supermag — Suzhou Supermag Intelligent Technology Co., Ltd. (hereinafter referred to as Suci Technology) is committed to the research and development, production and sales of maglev high-speed motors. With the design authorization of magnetic levitation compressors, magnetic levitation blowers, magnetic levitation pumps, etc., it provides core components suchas magnetic levitation motors, magnetic levitation bearings, magnetic levitation controllers, and displacement sensors.
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Lenovo Capital and Incubator Group (LCIG)
VC Fund · Beijing, Beijing, China · 22 investments in Asia Health Care startups

Lenovo Capital and Incubator Group is an accelerator and venture capital firm.

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Investment focus

  • Industry: Manufacturing, Artificial Intelligence, Software
  • Stage:Series A, Seed, Series B
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 227
  • Round size: Seed $7M–$65M; Series A $2.8M–$73M; Series B $5.5M–$145M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $500M in 2016

Portfolio highlights

  • Nyonic — Nyonic develops breakthrough AI technology to tackle difficult obstacles for businesses and is committed to developing a leading SOTA (state-of-the-art) basic model as well as an industry-leading, high-performance vertical model.
  • Lanxin Computing — Lanxin Computing is a high-performance chip design company that focuses on the research and development of CPUs with RISC-V ecosystems.
  • SenseTime Medical — SenseTime Medical promotes the development and implementation of its medical big model and provides smart health solutions.
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Green Pine Capital Partners
VC Fund · Shenzhen, Guangdong, China · 21 investments in Asia Health Care startups

Shenzhen Green Pine Capital Partners Co. Ltd. (“GPCP”) was established in 2007, with the investment team assembled in 2000. GPCP is one of the most time-honored Chinese VC companies that boast experience in areas such as biotech, new materials, new resources and AI, etc. Currently, GPCP manages assets over 15 billion RMB through 21 special fundsand have invested 7 billion RMB into 388 enterprises among which 14 are listed on NEEQ and 48 of them are either listed or acquired by listed companies, including BGI(300676.SZ), Aurora(600666.SH), Nationz Tech(300077.SZ), Foresee(002530.SZ), Qudian(NASDAQ:QD), etc. GPCP invested in the angel round of BGI (Beijing Genomics Institute), Royole, Kuang-Chi, Appotronics, BMF, C-one, Arrayed Materials and other star enterprises.GPCP is based in Shenzhen, with branches in Beijing, Shanghai and Guangzhou. GPCP also runs two GPI incubators and an incubator for overseas Chinese scientists who start businesses in China.

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Investment focus

  • Industry: Artificial Intelligence, Software, Biotechnology
  • Stage:Series A, Series B, Angel
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 180
  • Round size: Angel $425k–$2.9M; Series A $1.4M–$100M; Series B $9.9M–$150M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $138M in 2019

Portfolio highlights

  • Toramon — Toramon is dedicated to providing innovative Artificial Intelligence sensing solutions of high performance and low cost for ADAS and autonomous vehicles. Adhering to the development vision of "making driving safer", the company applies the world's first human vision bionic technology to autonomous vehicles, which can effectivelyreduce traffic accidents. This core technology breaks through the capability bottleneck of the existing on-board environmental sensors. In extreme scenarios such as special-shaped object recognition, all-round collision prediction, and vehicle close-up jamming, it shows better scene adaptability and reliability than existing artificial intelligence algorithms. Since this technology does not rely on big data training, it will help greatly reduce the cost of mass production and maintenance of autonomous driving systems, and can effectively promote the industrialization of autonomous driving technology.
  • MindRank AI — MindRank AI is a developer of proprietary end-to-end AI-driven drug discovery platform (Molecule Pro™).
  • Ruitai Biotechnology — Ruitai is a developer for ophthalmic regenerative medicine, specialising in the R&D and sale of repair materials and medical device products
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TF Capital
VC Fund · Pudong, Shandong, China · 21 investments in Asia Health Care startups, 7 in the past 12 months

TF Capital is a proprietary trading company that specializes in foreign exchange and invests in early stage ventures.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series A, Series B, Seed
  • Geography: China, United States

Investor stats

  • Total investments: 62
  • Round size: Seed $10M–$28M; Series A $5.7M–$120M; Series B $11M–$110M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Skild AI — Building general purpose robotic intelligence
  • QL Biopharma — QL Biopharma focuses on developing innovative drugs and premium me-too drugs targeting metabolic diseases.
  • Vivatides Therapeutics — Vivatides Therapeutics develops new RNA treatments to help improve patients' lives using biotechnology research.
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Huagai Capital
VC Fund · Beijing, Beijing, China · 21 investments in Asia Health Care startups

Huagai Capital is a private equity investment firm that invests in start-up or growth companies in the areas of healthcare, TMT, and culture.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series A, Series B, Angel
  • Geography: China, United States, Germany

Investor stats

  • Total investments: 133
  • Round size: Angel $425k–$15M; Series A $1.4M–$63M; Series B $3.5M–$90M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: May invest from a new fund soon — raised $430M in 2018

Portfolio highlights

  • Baijun Biotech — Baijun Biotechnology is a major player in the field of biopharmaceutical R&D services due to its one-stop biotechnology R&D service platform, strong R&D skills, and extensive industry experience.
  • GenFleet Therapeutics — GenFleet Therapeutics is a developer and researcher of molecular pharmaceuticals targeting cancer treatments. The company specializes in developing innovative molecular-level pharmaceuticals and antibody drugs targeting various cancer systems, providing effective medical solutions to reactivate tumor-specific immune responses and to mobilize thebody's own immune system.
  • MicuRx Pharmaceuticals — MicuRx discovers and develops novel antibiotics to combat drug resistant bacterial infections. Founded in 2007, MicuRx employs a hybrid U.S./China business model to capitalize on the global opportunities afforded by U.S. research and development coupled with the high-quality, cost-efficient infrastructure and scientific resources available inChina. This hybrid business model enables MicuRx to implement an accelerated global development strategy with a goal of completing Phase II trials for its drug candidates in both the United States and China.
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Oriza Seed Capital (Oriza Yuandian)
VC Fund · Suzhou, Jiangsu, China · 21 investments in Asia Health Care startups

Oriza Seed Venture Capital, located in Suzhou Industrial Park, is held by Suzhou Oriza Holdings Ltd. Oriza Seed is a market-oriented investment platform. It looks for investment opportunities among early-stage and growth-stage enterprises in the fields of Healthcare and TMT. Oriza Seed has ample resources and experiences investing in the healthcarefield. By late March 2016, Oriza Seed has invested in more than 50 healthcare companies, including Ascentage Pharma, Innovent Biologics, and SceneRay Corporation.

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Investment focus

  • Industry: Manufacturing, Health Care, Medical
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 141
  • Round size: Seed $213k–$14M; Angel $425k–$14M; Series A $1.4M–$90M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • DreamTech — DreamTech is an AI startup company focusing on native 3D generation.
  • Stairway Medical — Stairway Medical is a developer of implantable brain-computer interface technology.
  • GeneQuantum Healthcare — GeneQuantum Healthcare (Suzhou) Co., Ltd. is a high-tech company that focuses on the research and development of innovative Bio-therapeutics.GeneQuantum was founded in August 2013 at Suzhou Industrial Park, and has built-up a world-class bio-conjugation technology platform, focusing on developing series of next generation anti-tumorAntibody-Drug-Conjugates (ADCs) with best-in-class potential. Securing this round of financing will significantly promote the development of current ADC candidates towards IND filling in both US and China, meanwhile further expanding the company's product pipeline.
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Nippon Venture Capital
VC Fund · Tokyo, Tokyo, Japan · 20 investments in Asia Health Care startups

Nippon Venture Capital ("NVCC"), established in 1996 as one of the few largest Japanese independent venture capital firms, is destined to undertake the unprecedented task of providing full-range venture capital services in cooperation with major Japanese business leaders and leading companies, which have supported and nurtured various newbusinesses on their own, as well as proactively developing new venture enterprises.

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Investment focus

  • Industry: Software, Health Care, Medical
  • Stage:Series A, Series B
  • Geography: Japan, United States, Indonesia

Investor stats

  • Total investments: 163
  • Round size: Series A $3M–$85M; Series B $7.7M–$269M
  • Lead/follow: 15% lead, 85% follow
  • Last fund: Likely still investing — raised $278M in 2023

Portfolio highlights

  • Gecipe — Gecipe is a video service for e-sports players.
  • Issues — Issues provides development and management of web service issues that solve the problems.
  • SecureNavi — SecureNavi offers automation tools for the information security management system. It reduces conventional analogue operations using excel and word. For inquiries, telephone numbers and physical addresses are available on their website.
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Lotus Lake Ventures
VC Fund · Beijing, Beijing, China · 20 investments in Asia Health Care startups

Lotus Lake Ventures is an investment firm committed to investing in science and technology innovation enterprises, focusing on high-tech and high-tech enterprises with core competitiveness in the initial stage and growth stage..

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, India

Investor stats

  • Total investments: 74
  • Round size: Seed $42k–$14M; Series A $709k–$99M; Series B $2M–$40M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Zhiyu Veken
  • ICE Bioscience — ICE Bioscience was founded in 2010, an Innovative CRO+ Explorer company focusing in early drug discovery services from target validation to pre-clinical candidate identification, with strong capabilities and technologies in Immunology and Oncology, Cardiovascular and CNS diseases areas. ICE Bioscience provides high professional communication andflexible collaboration models, to speed up drug discovery process better and faster.ICE Bioscience has wide target-based panel screening platform ready-to-use, we keep trying to expand diverse techniques related to Biology and Pharmacology, to support various drug discovery purpose for different indications and clinical needs, we do have quite a lot of new assays development experience and passion, to accomplish target identification and assay validation, compounds screening from hit to lead, to pre-clinical drug candidate selection.
  • Micro Interventional — Micro Interventional is a company that develops active interventional innovative medical devices. It emphasizes the development of novel medical devices with a product strategy centered on the precise interventional treatment of coronary heart disease and peripheral arterial disease.
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Sinopharm Capital
VC Fund · Shanghai, Shanghai, China · 20 investments in Asia Health Care startups

Sinopharm Capital is a private equity arm of China National Pharmaceutical Group Corporation that specializes in medical and healthcare, pharmaceuticals, biotechnology, medical devices, healthcare and medical supply, and services for elderly and persons with disability. It seeks to invest in China. Sinopharm Capital was founded in June 2012 and isbased in Shanghai, China.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 49
  • Round size: Seed $1.4M–$14M; Series A $1.4M–$28M; Series B $9.2M–$114M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: May invest from a new fund soon — raised $150M in 2019

Portfolio highlights

  • Metanovas Biotech — Metanovas is a metabolic drug developer focused on combining artificial intelligence with life sciences, using deep learning.
  • Artivila Therapeutics — Artivila Therapeutics is a pharmaceutical company focused on improving patient's lives through an AI-powered drug discovery engine. The company is committed to discover the best therapeutical solutions to neuro-degenerative diseases, cancers, and autoimmune diseases empowered with an integrated AI-driven innovative drug discovery platform,providing first-in-class new molecules consistently and efficiently.Artivila Therapeutics was founded in 2018 and is based in ShenZhen, China.
  • Jinju Biopharmaceuticals — Jinju Biotechnology is a high-tech enterprise specializing in the research and development of stem cell therapies.
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Gaorong Capital
VC Fund · Wangjing, Beijing, China · 20 investments in Asia Health Care startups

Gaorong Capital is a venture capital firm that focuses on early and growth stage investments in TMT, including AI and frontier technologies.

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Investment focus

  • Industry: Information Technology, Software, Artificial Intelligence
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 261
  • Round size: Seed $2.8M–$57M; Series A $2.8M–$73M; Series B $14M–$110M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2020

Portfolio highlights

  • PDD Holdings — Pinduoduo is an e-commerce platform allowing users to participate in group buying deals, mostly through Tencent’s Wechat app. The company was founded in 2015 and is based in Shanghai, China.
  • AIpark — AIpark is provides a smart parking management solution. AIPark upgrades traditional parking spaces into “smarter ones” for local governments or businesses by leveraging on its in-house visual recognition technologies.
  • XYZ Robotics — XYZ Robotics develops AI-enabled robotic perception and manipulation technology for logistics and manufacturing automation. The company develops autonomous robotic solutions for put wall sorting and goods-to-person picking. Its robot sorts unorganized, random warehouse goods into groups of customer orders. The solution embodies its strength in deeplearning and robotics.
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Keio Innovation Initiative
VC Fund · Tokyo, Tokyo, Japan · 20 investments in Asia Health Care startups

Keio Innovation Initiative (KII) is a venture capital established by Keio University. In order to make more effective use of the research results of Keio University, we aim to contribute to the development of society by creating investment for venture companies that utilize research results and creating new industries.The key to thinking aboutJapan's future growth strategy is to utilize advanced research results of the university. In addition to GDP, in addition to GDP, Japan is the world's third largest R & D exporter in R & D expenses, but as the low growth rate shows, it has a problem in investment efficiency in research and development. There are also reports on the entrepreneurial spirit that is indispensable for creating new industries, with the lowest entrepreneurial activity rate among developed countries.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Seed
  • Geography: Japan, United Kingdom

Investor stats

  • Total investments: 81
  • Round size: Seed $1.5M–$213M; Series A $7.4M–$155M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • ElleThermo — elleThermo aims to implement Semiconductor-Sensitised Thermal Cells (STCs), an energy conversion technology that can generate electricity from unused waste heat above room temperature.
  • Aeterlink — Aeterlink is a wireless device maker and developer. They applied their technology to fields such as FA, robots, smart houses, and medicine and developed practical level technologies such as elemental technology that can wirelessly supply power.
  • Metagen Therapeutics — Metagen Therapeutics is a Drug discovery and medical business company which utilizes microbiome science.
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Osaka University Venture Capital
VC Fund · Osaka, Osaka, Japan · 20 investments in Asia Health Care startups

Osaka University Venture Capital is a venture capital firm that focuses on early-stage ventures in the fields of life innovation, green innovation, and platform technology. The firm was founded in 2014 and based in Osaka, Japan.

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Investment focus

  • Industry: Biotechnology, Health Care, Manufacturing
  • Stage:Seed, Series A
  • Geography: Japan

Investor stats

  • Total investments: 79
  • Round size: Seed $7.1M–$99M; Series A $16M–$142M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • QunaSys — Quantum physics is a relatively new field built since the beginning of the 20th century, but we have used MRI (nuclear magnetic resonance equipment) and lasers used for close examinations in hospitals, and semiconductors mounted on computers. Supports the technology that supports the daily life of people.QunaSys was established to bring out thequantum physics that has been active behind the scenes to the front stage, and to make use of quantum properties to realize technologies that could not be achieved with existing technologies.
  • Luxna Biotech — Luxana Biotech is established to contribute to medical treatment for suffering patients, .
  • Celaid Therapeutics — Celaid Therapeutics specializes in manufacturing and sales of regenerative medicine products utilizing human hematopoietic stem cells.
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Mizuho Capital
VC Fund · Tokyo, Tokyo, Japan · 20 investments in Asia Health Care startups

Mizuho is the venture capital firm affiliated to Mizuho Bank, the second-largest Japanese bank in terms of assets. The firm has headquarters in Tokyo.The firm has ¥49.6 billion JPY under management, focusing on information technology and biotechnology investments. Over 600 Mizuho companies have gone public. According to Nikkei, Mizuho is thefifth-largest venture capital firm in Japan.Mizuho Capital was formed in 2002 by the merger of Fujigin Capital, Tokyo Venture Capital and IBJ Investment. Three firms were subsidiaries of Fuji Bank, Dai-Ichi Kangyo Bank and the Industrial Bank of Japan respectively.

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Investment focus

  • Industry: Information Technology, Software, Internet
  • Stage:Series A, Series B
  • Geography: Japan, United States, China

Investor stats

  • Total investments: 439
  • Round size: Series A $2.7M–$156M; Series B $5.2M–$553M
  • Lead/follow: 4% lead, 96% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • Logiless — Logiless is a cloud type all-in-one software dedicated to net shop. Since both orders and stocks can be managed together in a logical manner, efficiency of operations can be realized at low cost.
  • LUC — LUC is a provider of the AI ​​x experience analysis platform "TERUS," .
  • Turing — Turing develops and manufactures fully autonomous vehicles.
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