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Top 50 Health Care VC Funds & Investors in Asia (August 2026)

The most active venture capital funds 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
120 China, United States, Hong Kong Series B, Series A, Series C Health Care, Biotechnology, Medical $5M–$134M
BioVenture
VC Fund
74 China, United States, Hong Kong Series A, Series B, Seed Health Care, Medical, Biotechnology $3.8M–$73M
Antler
VC Fund
62 Singapore, Australia, United Kingdom Pre-Seed, Seed, Series A Software, Artificial Intelligence, Information Technology $100k–$29M
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
52 China, Hong Kong, United States Series A, Seed, Series B Medical, Health Care, Biotechnology $2.8M–$60M
Mitsubishi UFJ Capital
VC Fund
46 Japan, United States, Singapore Series A, Series B Information Technology, Software, Health Care $1.2M–$198M
ANRI
VC Fund
46 Japan, United States, Indonesia Seed, Series A Software, Medical, Health Care $413k–$41M
Lilly Asia Ventures
VC Fund
45 China, United States, Hong Kong Series A, Series B, Series C Biotechnology, Health Care, Medical $14M–$308M
Legend Capital
VC Fund
44 China, United States, South Korea Series B, Series A, Series C Health Care, Medical, Biotechnology $2.9M–$200M
Matrix Partners China
VC Fund
44 China, United States, Singapore Series A, Series B, Seed Health Care, Software, Artificial Intelligence $2.8M–$137M
Frees Fund
VC Fund
43 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Health Care, Biotechnology $425k–$35M
IDG Capital
VC Fund
43 China, United States, India Series A, Series B, Series C Software, Internet, E-Commerce $3M–$310M
SMBC Venture Capital
VC Fund
41 Japan, United States, Singapore Series A, Series B Information Technology, Software, Health Care $1.5M–$184M
Highlight Capital
VC Fund
40 China, United States, South Korea Series A, Series B, Seed Health Care, Medical, Biotechnology $2.8M–$84M
East Ventures
VC Fund
38 Japan, Indonesia, Singapore Seed, Series A Software, Information Technology, Internet $473k–$35M
Shenzhen Capital Group
VC Fund
38 China, United States, Japan Series A, Series B, Series C Manufacturing, Health Care, Software $1.6M–$156M
Puhua Capital
VC Fund
37 China, United Kingdom, United States Series A, Series B, Seed Health Care, Medical, Manufacturing $1.4M–$103M
Northern Light Venture Capital
VC Fund
36 China, United States, South Korea Series A, Series B, Seed Health Care, Medical, Biotechnology $1.3M–$100M
Kaitai Capital
VC Fund
36 China, United States, Singapore Series A, Series B, Seed Biotechnology, Health Care, Pharmaceutical $1.4M–$57M
Seeds Capital
VC Fund
36 Singapore, United States, Hong Kong Seed, Series A, Series B Biotechnology, Artificial Intelligence, Health Care $767k–$45M
Fast Track Initiative, Inc.
VC Fund
35 Japan, United States, United Kingdom Series A, Series B, Seed Health Care, Biotechnology, Medical $345k–$117M
BioTrack Capital
VC Fund
34 China, United States, Singapore Series A, Series B, Seed Biotechnology, Health Care, Medical $14M–$168M
UntroD Capital
VC Fund
34 Japan, Singapore, Austria Seed, Series A Manufacturing, Biotechnology, Health Care $772k–$90M
Dalton Venture
VC Fund
33 China, India, Canada Seed, Series A, Series B Health Care, Medical, Biotechnology $450k–$50M
Legend Star
VC Fund
33 China, United States, France Series A, Seed, Angel Health Care, Medical, Biotechnology $425k–$52M
Cowin Capital
VC Fund
33 China, Hong Kong, United States Series A, Series B, Seed Manufacturing, Health Care, Biotechnology $1.4M–$51M
Shanghai Biomedical Industrial Equity Investment Fund
VC Fund
31 China, United States, Hong Kong Series A, Seed, Series B Health Care, Medical, Biotechnology $8M–$159M
Marathon Venture Partners
VC Fund
31 China, United States, Hong Kong Series A, Series B, Seed Health Care, Medical, Biotechnology $1.4M–$142M
Lenovo Capital and Incubator Group (LCIG)
VC Fund
30 China, Hong Kong, United States Series A, Seed, Series B Manufacturing, Artificial Intelligence, Software $1.5M–$150M
CD Capital
VC Fund
29 China, United States Series A, Series B, Seed Health Care, Biotechnology, Medical Device $1.4M–$34M
Cowin Venture
VC Fund
28 China, United States, Hong Kong Series A, Angel, Series B Health Care, Medical, Biotechnology $425k–$257M
Longpan Investment
VC Fund
28 China, United States, Cayman Islands Series A, Series B, Seed Health Care, Medical, Biotechnology $14M–$60M
Sherpa Healthcare Partners
VC Fund
28 China, United States, Kenya Series A, Series B, Series C Biotechnology, Health Care, Medical $7.2M–$128M
Prox Ventures
VC Fund
28 China, United States, United Kingdom Seed, Series A Medical, Biotechnology, Health Care $2.5M–$28M
Nissay Capital
VC Fund
27 Japan, United States, Ethiopia Seed, Series A Health Care, Information Technology, Medical $565k–$71M
JAFCO
VC Fund
26 Japan, United States, Israel Series A, Series B Information Technology, Software, Artificial Intelligence $2.1M–$184M
CDH Investments
VC Fund
26 China, United States, Canada Series A, Series B, Series C Manufacturing, Health Care, Biotechnology $7.3M–$220M
Mizuho Capital
VC Fund
25 Japan, United States, Singapore Series A, Series B Information Technology, Software, Artificial Intelligence $2M–$269M
Huagai Capital
VC Fund
25 China, United States, Hong Kong Series A, Series B, Angel Health Care, Biotechnology, Medical $425k–$147M
Taiyu Investment
VC Fund
25 China Seed, Series A, Angel Medical, Health Care, Biotechnology $4.1M–$29M
UTEC - The University of Tokyo Edge Capital Partners
VC Fund
25 Japan, United States, India Seed, Series A, Series B Health Care, Biotechnology, Medical $2.5M–$100M
Oriza Holdings
VC Fund
24 China, United States, Canada Series A, Series B, Series C Manufacturing, Health Care, Biotechnology $1.7M–$200M
Addor Capital
VC Fund
24 China, Hong Kong, Singapore Series A, Series B, Seed Manufacturing, Semiconductor, Electronics $1.4k–$47M
Sinovation Ventures
VC Fund
23 China, United States, Singapore Series A, Seed, Series B Software, Artificial Intelligence, Health Care $1M–$110M
Share Capital
VC Fund
23 China, United States, Colombia Series A, Series B, Seed Health Care, Medical, Biotechnology $142k–$93M
Tiantu Capital
VC Fund
23 China, United States, Japan Series A, Series B, Seed Food and Beverage, E-Commerce, Health Care $1.4M–$142M
Green Pine Capital Partners
VC Fund
23 China, United States, Canada Series A, Angel, Series B Artificial Intelligence, Biotechnology, Health Care $425k–$150M
Nippon Venture Capital
VC Fund
22 Japan, United States, Indonesia Series A, Series B Software, Health Care, Information Technology $1.5M–$269M
Pan-Lin Capital
VC Fund
22 China, United States, Canada Series A, Seed, Series B Health Care, Biotechnology, Medical $1.4k–$57M
Gaorong Capital
VC Fund
22 China, United States, Hong Kong Series A, Series B, Seed Information Technology, Software, Artificial Intelligence $2.8M–$110M
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Investor list

Qiming Venture Partners
VC Fund · Shanghai, Shanghai, China · 120 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: 898
  • Round size: Series A $5M–$67M; Series B $9.4M–$100M; Series C $15M–$134M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: Likely still investing — raised $887M in 2023

Portfolio highlights

  • Guangjing Energy — Guangjing Energy specializes in the R&D and mass production of durable, large-area perovskite solar cell modules. They develops perovskite film printing technology with independent intellectual property rights and realized the preparation of large-area perovskite components.
  • Talaris Therapeutics — Talaris seeks to help kidney transplant recipients and patients suffering from severe auto-immune diseases to live healthy lives free from chronic immunosuppression
  • Shennapsi Artificial Intelligence Technology — Synapsor is a medical-grade wearable device research and development company, oriented to the AI+ medical and health field, and is committed to the development and manufacturing of AI-powered medical-grade smart wearable devices, including AI-ECG artificial intelligence. Diagnostic analysis system, CUMS uric acid blood glucose and cholesterolmonitoring system, etc. The company has recently received tens of millions of yuan in Series B investment, and the investor is Xiaomi Technology.
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BioVenture
VC Fund · Suzhou, Jiangsu, China · 74 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: 171
  • Round size: Seed $7.9M–$41M; Series A $3.8M–$47M; Series B $7.1M–$73M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • Dami&Xiaomi — Rice and millet is China's leading platform services for children with autism spectrum, from 2014 Nian 9 Yue Jiang Ying Shuang (rice) founded the "rice and millet" micro-channel public number. It now provides integrated services such as rehabilitation services, integrated education support, parent training, online courses, andpopular science information.
  • CART Medical — CART Medical Technologies, Ltd. is a high-tech company specializing in the development and application of new technologies for immune cell therapy. It has a 2,200 square meter GMP laboratory and research and development laboratory.
  • 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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Antler
VC Fund · Singapore, Central Region, Singapore · 62 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: 2216
  • Round size: Seed $159k–$4.6M; Pre-Seed $100k–$645k; Series A $4.1M–$29M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $72M in 2024

Portfolio highlights

  • Praktiki — Praktiki is building the "Decision Layer" for medicine.While medical knowledge doubles every 73 days, frontline clinicians struggle to translate guidelines into practice. Current AI search tools excel at surfacing public data from clinical trials, but fail to capture "how" experts apply that evidence in real-world scenarios.Praktiki fills this gap. We utilise an AI Agentic Creator Engine to capture tacit specialist reasoning and fuse it with public evidence. This feeds a proprietary Expert Knowledge Graph that powers: 1) Microlearning: Case-based modules created 10x faster and which are 170% more effective than traditional education 2) AI Expert Guidance: Real-time decision support synthesising evidence with expert implementation strategies.2025 Traction - our MVP proved that solving the expertise gap drives high engagement: - Registered >10% of UK GPs - 60,000+ modules completed with an 85% completion rate - 51% month-over-month growth - Market-leading NPS of 83We are building a compounding data moat to expand beyond education into clinical intelligence and healthcare data solutions.
  • Mast — Mast is the cloud-native, fully configurable loan origination platform empowering lenders to process applications faster and smarter. We make lending better, smoother and faster.
  • Forti Foods — The mission of Forti Foods is to enhance communities and change lives beyond the plate by fostering resilience and dignity via sustainable food innovation.
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HSG
VC Fund · Beijing, Beijing, China · 57 investments in Asia Health Care startups

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 still 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 · 52 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: 83
  • Round size: Seed $8M–$60M; Series A $2.8M–$40M; Series B $11M–$60M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $69M in 2019

Portfolio highlights

  • Zhuanma Biotech — Zhuanma Biotechnology is a gene editing service provider dedicated to clinically developing effective ultra-small gene editors into genetic therapeutics that are "curable once and for all."
  • Tianyikang Biotechnology — Tianyikang Biotechnology focuses on medical research and the development and application of next-generation cell immunotherapy products.
  • Beijing Ansong Technology — Beijing Ansong Technology Co., Ltd. is an enterprise focusing on the research and development, production, and sales of orthopedic medical devices. The company cooperates with domestic and foreign universities, research institutes, and doctors in hospitals, and is committed to creating original orthopedic products with independent knowledgeproducts.Beijing Ansong Technology was founded on June 27, 2011 by Liang Tao in Fengtai, Beijing.
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Mitsubishi UFJ Capital
VC Fund · Tokyo, Tokyo, Japan · 46 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: 576
  • Round size: Series A $1.2M–$74M; Series B $4.3M–$198M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • ADiXi — Adixi is a tech-driven business that supports the idea that people and technology may work together. It strives to open doors by utilizing cutting-edge technology, such as artificial intelligence, to promote long-term, sustainable corporate and societal progress.
  • WARPSPACE — ARPSPACE is a space startup originating from the University of Tsukuba, has been launching and working on a satellite development project at the University of Tsukuba for five years until the company was established.
  • Luxna Biotech — Luxana Biotech is a biotechnology firm dedicated to promoting the practical use of safe and effective nucleic acid therapies. Utilizing nucleic acid chemistry technology, the company strives to provide nucleic acid medicines to patients suffering from diseases that currently lack effective treatments.
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ANRI
VC Fund · Tokyo, Tokyo, Japan · 46 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, Medical, Health Care
  • Stage:Seed, Series A
  • Geography: Japan, United States, Indonesia

Investor stats

  • Total investments: 269
  • Round size: Seed $413k–$19M; Series A $2.3M–$41M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: Likely still investing — raised $102M in 2022

Portfolio highlights

  • Any Style — Any Style develops a messaging app from voice actors that regularly sends messages via subscription. It also engages in the planning and production of audio content and the VTuber production business.
  • Chaintope — Chaintope is specializes in blockchain technology with a focus for FinTech and non-FinTech sectors.
  • Smile Robotics — Smile Robotics provides Service Robots in Japan.
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Lilly Asia Ventures
VC Fund · Shanghai, Shanghai, China · 45 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: 221
  • Round size: Series A $14M–$100M; Series B $25M–$110M; Series C $30M–$308M
  • 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.
  • ProfoundBio — ProfoundBio is an oncology biotherapeutics company focused on the development of novel antibody-based therapeutics with curative potential for patients with cancer.
  • Abogen Biosciences — Abogen Biosciences is a discovery stage biotechnology company focuses on developing nucleic acid-based (RNA and DNA) therapeutics for treatment of cancer and infectious diseases.
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Legend Capital
VC Fund · Beijing, Beijing, China · 44 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: 427
  • Round size: Series A $2.9M–$100M; Series B $12M–$115M; Series C $15M–$200M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — raised $177M in 2021

Portfolio highlights

  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/7a5aSCUfnr https://t.co/x14hb3jO7O
  • 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.
  • Jinqirui Biology — Jinqirui Biology is a biotechnology company that focuses on the research and development, manufacturing, production & sales of vitro diagnostics equipment and reagents.
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Matrix Partners China
VC Fund · Beijing, Beijing, China · 44 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, Software, Artificial Intelligence
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 499
  • Round size: Seed $2.8M–$98M; Series A $3M–$61M; Series B $10M–$137M
  • Lead/follow: 34% lead, 66% 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.
  • Huangbaoche — Huangbaoche is a travel service providing tour packages and booking services. Huangbaoche has over 100,000 Chinese-speaking drivers and tour guides providing airport pick-up services, chartered car services, and guided tours in over 1,500 overseas travel destination cities in 80 countries.
  • Nuance Biotech — Nuance Biotech is a pharmaceutical company Based In China.
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Access 48,091 investors

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

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Frees Fund
VC Fund · Beijing, Beijing, China · 43 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: 216
  • Round size: Seed $1.4M–$14M; Angel $425k–$14M; Series A $1.4M–$35M
  • Lead/follow: 28% lead, 72% 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".
  • Chuguang 3D — Chuguang 3D is a optical micro-nano 3D sensor technology platform that focuses on research and development, and manufacturing of micro-nano-level optical three-dimensional sensing and measurement and testing instruments.
  • Mask Network — Your Portal To The New, Open Internet.
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IDG Capital
VC Fund · Beijing, Beijing, China · 43 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: 826
  • Round size: Series A $3M–$122M; Series B $8.5M–$142M; Series C $15M–$310M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • Hypershell — An exoskeleton innovator reshaping lifestyles and enabling technology to empower life.
  • Bivision — Biovision Pharma is a biomedical enterprise focusing on the research and development of targeted radiopharmaceuticals (TRT) integrated with visual diagnosis and treatment.
  • Youxi Film Hotel — Youxi Film Hotel which is a hotel in China that combines the perfect combination of hotel and movie IP. It is also a movie hotel theme, combining film derivative industry, movie theme social space and film shooting. An integrated creative culture complex; dedicated to creating a Chinese-style movie and hotel cross-border experience hotel, breakingthrough the traditional overnight function of a traditional hotel, creating the ultimate movie experience for young people with a mindset.
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SMBC Venture Capital
VC Fund · Tokyo, Tokyo, Japan · 41 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, Software, Health Care
  • Stage:Series A, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 584
  • Round size: Series A $1.5M–$106M; Series B $3.1M–$184M
  • Lead/follow: 3% lead, 97% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • LQUOM — QWAVE offers cryptography communication technology.
  • Atom — Atom is a humanoid robot built platform. Its bipedal, dual-armed robots are designed not just as industrial tools but as collaborators that expand human capability. By combining advanced Physical AI—environmental perception, judgment, and action planning—with robust robotic hardware, Atom is creating adaptive agents capable of working acrossdiverse settings to augment or, where appropriate, replace human labor. The company positions these robots as a next step in societal evolution: a new class of machines that learn and behave in human-like ways to advance productivity, safety, and quality of life.
  • Link Therapeutics — Link Therapeutics specializes in developing therapeutic methods for targeting autoantibodies and identifying pathogenic autoantibodies.
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Highlight Capital
VC Fund · Nanjin, Jiangsu, China · 40 investments in Asia Health Care startups, 34 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, South Korea

Investor stats

  • Total investments: 172
  • Round size: Seed $10M–$84M; Series A $2.8M–$74M; Series B $7.6M–$70M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: Likely still investing — raised $563M in 2021

Portfolio highlights

  • Approaching.AI — Approaching.AI is an AI Infra company focusing on the important large model application scenarios such as RAG.
  • PoShell Robotics — PoShell Robotics is a general-purpose home robot, aiming to create a home-friendly and structurally stable robot.
  • Xingyuan Zongheng Network Technology — Beijing Xingyuan Zongheng Network Technology is an aerospace and satellite internet enterprise. The company focuses on high-tech satellite system development, constellation networking, and commercial operations.
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East Ventures
VC Fund · Tokyo, Tokyo, Japan · 38 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: 522
  • Round size: Seed $473k–$13M; Series A $2M–$35M
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • Reject — Reject is an esports firm that focuses on management of its team REJECT, players, apparel business, and event management services.
  • Holo-X — Holo-X provides augmented, virtual, and mixed realities services and products.
  • Sisuta — Sisuta is a purpose-driven organization committed to addressing fundamental social issues by seamlessly integrating human insight with advanced technology, creating innovative solutions that empower individuals, strengthen communities, and unlock the full potential of both people and digital tools to drive sustainable social impact.
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Shenzhen Capital Group
VC Fund · Shenzhen, Guangdong, China · 38 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: 533
  • Round size: Series A $1.6M–$156M; Series B $14M–$142M; Series C $4.3M–$156M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Prosemi — Pusenmei is a precision micro-resistance current sensor developer company committed to delivering professional and diverse precision micro-resistance current detecting resistors and circuit protection solutions.
  • Enrikenuo — Enrikenuo is a biotechnology company that focuses on the research and development of new generation CAR-NK technology based cell drugs.
  • Waker Biology — Weike Bio is a gene therapy drug development company.
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Puhua Capital
VC Fund · Hangzhou, Zhejiang, China · 37 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: 257
  • Round size: Seed $2.3M–$29M; Series A $1.4M–$42M; Series B $2.8M–$103M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • XY TECH — Energy
  • Ganzhicao Technology — Gancao Doctor is an internet-based Traditional Chinese Medicine (TCM) company that helps clinics modernize their digital management and optimize operations. By using AI-assisted features, it enhances doctors' diagnostic and treatment abilities, delivering valuable benefits to doctors, patients, and clinics.
  • Interstellar Lightyear — Interstellar Lightyear Technology is a developer specializing in dexterous robotic hands, focusing on creating intelligent dexterous hands with advanced capabilities for precise manipulation.
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Northern Light Venture Capital
VC Fund · Beijing, Beijing, China · 36 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: 274
  • Round size: Seed $1.3M–$100M; Series A $4.3M–$67M; Series B $11M–$62M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: Likely still investing — raised $375M in 2021

Portfolio highlights

  • Flytech — Flytech specializes in crystal materials and related components for magneto-optical-electrical integrated signal processing.
  • Moge Microflow — Moge Microflow is a manufacturer of equipment for microreactors. It provides continuous flow production technologies and equipment for nanomaterials, pharmaceutical intermediates, and fine chemicals, as well as standardized high-end microreactor equipment.
  • 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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Kaitai Capital
VC Fund · Hangzhou, Zhejiang, China · 36 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, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 146
  • Round size: Seed $2.4M–$20M; Series A $1.4M–$35M; Series B $10M–$57M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Aoquan — Aoquan is a biopharmaceutical company that provides research and development, production, and industrialization of innovative drugs.
  • 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.
  • 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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Seeds Capital
VC Fund · Singapore, Central Region, Singapore · 36 investments in Asia Health Care startups

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

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Investment focus

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

Investor stats

  • Total investments: 146
  • Round size: Seed $767k–$6M; Series A $2.4M–$21M; Series B $5M–$45M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • Pints AI — Unlock global and private financial data with AI like never before.
  • ChemT Biotechnology — The goal of ChemT Biotechnology is to increase patient access to the most cutting-edge biologics, beginning with the urgent issues in manufacturing and research and development.
  • Protuoso Biosciences — Protuoso Bio is a pioneering biotechnology company developing Next-Gen MUXBODIES for Complex Diseases. We leverage AI-driven protein engineering and synthetic biology to advance innovative oncology drug research.
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Fast Track Initiative, Inc.
VC Fund · Hongo, Tokyo, Japan · 35 investments in Asia Health Care startups, 10 in the past 12 months

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, Series B, Seed
  • Geography: Japan, United States, United Kingdom

Investor stats

  • Total investments: 83
  • Round size: Seed $345k–$117M; Series A $3M–$113M; Series B $9.5M–$91M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $1.1B in 2021

Portfolio highlights

  • NovAccel — NovAccel operates as a deep tech company, ensure a stable supply of medical radioisotopes.
  • Storm Therapeutics — Targeting pathways that modify RNA to deliver novel cancer therapeutics.
  • Neusignal Therapeutics — Neusignal Therapeutics is a medical company that develops therapeutic medicines for dementia and psychiatric illnesses.
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BioTrack Capital
VC Fund · Shanghai, Shanghai, China · 34 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: 93
  • Round size: Seed $16M–$168M; Series A $14M–$45M; Series B $15M–$147M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Huihe Healthcare — Huihe Healthcare specializes in the development of medical devices for structural heart disease. The company was founded in 2019 and is headquartered in Shanghai, China.
  • 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.
  • Zhiyue Space Intelligence — Zhiyue Space Intelligence specializes in robotic brain and brain systems.
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UntroD Capital
VC Fund · Sumida, Tokyo, Japan · 34 investments in Asia Health Care startups, 14 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 138
  • Round size: Seed $772k–$28M; Series A $2.3M–$90M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still 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.
  • Eco-Pork — Eco-Pork is a co-creation solution farm that supports farmers' food productivity improvement. It is connecting the pig and technology, pork ( Pork ) new business ecosystems ( Ecosystem By building a), in the pork growing demand around the world, to get the most out of the food supply capacity is finite.
  • IGrid Solutions — IGrid Solutions will promote “eDCM” to optimize power energy demand.
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Dalton Venture
VC Fund · Shanghai, Shanghai, China · 33 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: 142
  • Round size: Seed $450k–$5M; Series A $2.8M–$17M; Series B $2.8M–$50M
  • Lead/follow: 37% lead, 63% follow

Portfolio highlights

  • PowerMicro — PowerMicro focuses on the cutting-edge interdisciplinary field of “stem cells + engineered scaffolds,” specializing in the application of iPSC technology to advance regenerative medicine, tissue engineering, and innovative therapeutic solutions.
  • NewPro — NewPro is in the process of increasing production and establishing regulations for lactoferrin raw materials, with the goal of bringing the product to market as quickly as feasible.
  • Active Technology — Active Technology is a pioneering deep tech startup specialized in developing invasive brain computer interface (BCI) technology. The company integrates flexible electrodes, dedicated chips, and advanced decoding algorithms to target motor, visual, and emotional neural pathways.
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Legend Star
VC Fund · Beijing, Beijing, China · 33 investments in Asia Health Care startups, 15 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: 156
  • Round size: Seed $1.4M–$19M; Angel $425k–$49M; Series A $1.4M–$52M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: May invest from a new fund soon — raised $109M in 2018

Portfolio highlights

  • Yuanhao Power — The primary focus of Yuanhao Power, an AI native technology developer, is the creation of fifth-generation multimodal 4D world model base models. It creates a cohesive model system that encompasses dynamic environment reconstruction, generation, simulation, and intelligent agent training, and it encourages its use in applications like autonomousdriving, medical procedures, games and movies, and embodied intelligence. For the era of physical AI, it is dedicated to developing a universal world model base.
  • Deepin Technology — Deepin Technology is a company that utilizes artificial intelligence, quantum chemistry, and high-throughput experiment technologies to enhance the efficiency and workflow of chemical material innovation. it offers efficient R&D solutions for chemical materials, aiming to solve lab bottlenecks, promote innovative research, and enhance customervalue.
  • Active Technology — Active Technology is a pioneering deep tech startup specialized in developing invasive brain computer interface (BCI) technology. The company integrates flexible electrodes, dedicated chips, and advanced decoding algorithms to target motor, visual, and emotional neural pathways.
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Cowin Capital
VC Fund · Shenzhen, Guangdong, China · 33 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: 327
  • Round size: Seed $1.4M–$20M; Series A $4.3M–$51M; Series B $2.8M–$50M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: May invest from a new fund soon — raised $75M in 2014

Portfolio highlights

  • Bytetree — Bytetree is a technology company that focuses on providing the one-stop AI data services for data collection, cleaning, labeling, management, and storage for OEMs and autonomous driving solution providers, covering bicycle intelligence. , vehicle-road coordination, and smart cockpit three scenarios.
  • Digital China — Digital China is a robotics company focused on developing humanoid interactive robots that can break traditional boundaries and create emotionally resonated partners.
  • Huachen Core Light — Huachen Core Light is a semiconductor technology company that produces and manufactures optical communications and laser chips.
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Shanghai Biomedical Industrial Equity Investment Fund
VC Fund · Huangpu, Shanghai, China · 31 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: 68
  • Round size: Seed $8M–$50M; Series A $14M–$43M; Series B $14M–$159M
  • Lead/follow: 60% lead, 40% follow

Portfolio highlights

  • BioGeometry — Reshaping the world, one protein at a time
  • 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.
  • Beyond Therapeutics — Beyond Therapeutics employs its ExCEED technology to speed the discovery and development of novel medications for unmet therapeutic needs.
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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–$16M; Series B $14M–$142M
  • 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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Lenovo Capital and Incubator Group (LCIG)
VC Fund · Beijing, Beijing, China · 30 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: 302
  • Round size: Seed $1.5M–$29M; Series A $1.5M–$74M; Series B $8M–$150M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $500M in 2016

Portfolio highlights

  • Deepin Technology — Deepin Technology is a company that utilizes artificial intelligence, quantum chemistry, and high-throughput experiment technologies to enhance the efficiency and workflow of chemical material innovation. it offers efficient R&D solutions for chemical materials, aiming to solve lab bottlenecks, promote innovative research, and enhance customervalue.
  • SenseTime Medical — SenseTime Medical promotes the development and implementation of its medical big model and provides smart health solutions.
  • Shenzhen Urban Transport planning Center — Shenzhen Urban Transport planning Center provides traffic information engineering and technical services in China.
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CD Capital
VC Fund · Shanghai, Shanghai, China · 29 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: 73
  • Round size: Seed $1.4M–$15M; Series A $1.4M–$32M; Series B $7.1M–$34M
  • Lead/follow: 37% lead, 63% follow

Portfolio highlights

  • Genlight — Genlight develops innovative treatment solutions for epilepsy and other neurological diseases. Genlight is headquartered in Hangzhou, China.
  • Pipi Bear — Pipi Bear is a creator of living robots and health goods, with a focus on those that improve the lives of the elderly.
  • CORE Biomedicine — CORE Biomedicine is a private, preclinical-stage biotechnology company that specializes in drug discovery and development for oncology.
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Cowin Venture
VC Fund · Beijing, Beijing, China · 28 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: 104
  • Round size: Angel $425k–$1.4M; Series A $1.4M–$25M; Series B $2.8M–$257M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • CytoChip — Our journey began with a research project to develop a portable blood cell testing device for astronauts on space missions. Today, we are bringing that cutting-edge technology down to Earth to transform point-of-care diagnostics, from hospitals and clinics to pharmacies and home care. After nine years of development, CytoChip’s first product,CitoCBC®, is ready for launch. Using just one drop of blood, CitoCBC® delivers lab-quality CBC results within minutes, offering accuracy comparable to central laboratory analyzers at the point of care.At our core, we are a team of passionate engineers and scientists spanning two continents, united by a singular goal: to make reliable, affordable diagnostics accessible to more people worldwide. Our headquarters and R&D centerare located in California, USA, while our engineering and manufacturing center is based in Suzhou, China. We collaborate closely with leading U.S. hospitals to advance clinical validation and innovation.Starting with the world’s first CLIA Waived cartridge-based CBC, we are committed to tackling the toughest innovation challenges in point-of-care testing. Our mission is to empower healthcare providers with reliable, cost-effective diagnostics and make data-driven testing more accessible to patients and consumers.
  • Genta Kyushu Bio — Genta Kyushu Bio is a cutting edge biotechnology company specializing in the development of precision neuro circuit therapies for central nervous system and ophthalmic diseases. The firm leverages its high throughput screening and drug development platforms to advance innovative treatments utilizing chemogenetics, optogenetics, and gene therapies.
  • StringMotion Future — StringMotion Future focuses on the core technology research and development of tendon-inspired chord-driven robots, creating advanced robotic systems designed to deliver greater flexibility, precision, and efficiency for industrial and intelligent automation applications.
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Longpan Investment
VC Fund · Beijing, Beijing, China · 28 investments in Asia Health Care startups, 14 in the past 12 months

Longpan Investment is an investment firm.

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Investment focus

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

Investor stats

  • Total investments: 43
  • Round size: Seed $14M–$60M; Series A $14M–$30M; Series B $14M–$37M
  • Lead/follow: 56% lead, 44% follow

Portfolio highlights

  • Jingling Zhikang — Jingling Zhikang is technology company specializing in the intersection of medical rehabilitation, robotics, and embodied artificial intelligence. The company focuses on developing intelligent rehabilitation bionic hands and upper-limb prosthetics.
  • Hanyue New Materials — Hanyue Advanced Materials is a high-tech company that specializes in single-use biopharmaceutical solutions.
  • Lingtai Krypton Biotechnology — Lingtai Krypton Biotechnology is an innovative corporation that specializes in the development of lncRNA drugs.
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Sherpa Healthcare Partners
VC Fund · Beijing, Beijing, China · 28 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: 102
  • Round size: Series A $7.2M–$50M; Series B $15M–$100M; Series C $12M–$128M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • Shenfu Jianxing — Shenfu Jianxing is a brain-computer interface developer. It focuses on minimally invasive implanted brain-spinal interface technology, with "minimally invasive + low latency + high integration" as its core, to build implantable brain-spinal neural stimulation systems.
  • Yosemite Clinic — Yosemite Clinic is a full-service clinic providing convenient walk-in medical services in a state-of-the-art environment in Central Pudong. They offer family medicine, internal medicine, surgery, orthopedics (sports medicine), dermatology, medical cosmetology, dentistry, gynecology, pediatrics, ophthalmology, anesthesiology, rehabilitationmedicine, medical imaging, laboratory, pharmacy and more. Their onsite facilities and equipment include CT, X-ray, Ultrasound, Laboratory and Operating Rooms. Their doctors come from China and across the world, enabling us to serve you in many languages including, English, Japanese, Malay, Mandarin Chinese and Cantonese.
  • Archimedes Vascular — Archimedes Vascular operates as a medical device company, that treat patients with severe hypertension.
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Prox Ventures
VC Fund · Shanghai, Shanghai, China · 28 investments in Asia Health Care startups, 7 in the past 12 months

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: 81
  • Round size: Seed $2.5M–$14M; Series A $2.8M–$28M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • Shengxin Medical — Shengxin Medical is a cardiovascular interventional medical device developer, dedicated to creating innovative, high-quality solutions that improve the diagnosis, treatment, and management of cardiovascular diseases, while advancing minimally invasive medical technologies to enhance patient outcomes and clinical efficiency.
  • Bluesail Surgical — Bluesail Surgical is a surgical device company that specializes in the development of innovative surgical instruments for cardiovascular and cerebrovascular treatments.
  • Kingsung Medical Group — Kingsung Medical Group operates under the Mission “Simplify Surgery, Beautiful Life,” with its innovation centered on four core technology platforms at its Tianjin base: Mechanical Design, Polymer Materials, Biodegradable Magnesium Alloys, and Collagen Biomaterials. These platforms have enabled the development of pioneering medical devices,including microvascular anastomosis devices and neural tube. In particular, the Group’s biodegradable magnesium alloy technology is spearheading the advancement of next-generation orthopedic implants. Kingsung’s technological capabilities are evidenced by a portfolio of over 190 patents and its recognition as a National Key Enterprise. The Group also actively contributes to the industry as a standing council member of the Microsurgery Branch of the China Association of Medical Devices Industry and a member of the Chinese Society for Biomaterials.
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Nissay Capital
VC Fund · Tokyo, Tokyo, Japan · 27 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: 264
  • Round size: Seed $565k–$43M; Series A $2M–$71M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Welyco — Welyco is an information technology company.We operate smart restaurant "solto". Utilize IT to realize efficient and diverse restaurant management.
  • Toranotec — TORANOTEC CORPORATION aims to create a world where investment is familiar to everyone by realizing "from consumption to investment" through the services of asset management subsidiaries , utilizing advanced technology.
  • Zeal Boxing Fitness — Zeal Boxing Fitness combines power of sports with the power of technology to provide a service that allows to enjoy fitness.
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JAFCO
VC Fund · Tokyo, Tokyo, Japan · 26 investments in Asia Health Care startups

Since its founding in 1973, JAFCO has always worked with leading-edge entrepreneurs. The total capital commitments of its investment funds in Japan and overseas have exceeded 1 trillion yen and the number of portfolio IPOs to date has reached over 1,000. In addition to venture investment, JAFCO also carries out buyout investment and commit to thecreations of innovative technologies and services worldwide. As entrepreneurs’ closest partner in bringing their visions to life, JAFCO provides support in areas of HR, marketing/ sales, and back-office operations, in addition to providing financing.

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Investment focus

  • Industry: Information Technology, Software, Artificial Intelligence
  • Stage:Series A, Series B
  • Geography: Japan, United States, Israel

Investor stats

  • Total investments: 304
  • Round size: Series A $2.1M–$142M; Series B $6.4M–$184M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • ADiXi — Adixi is a tech-driven business that supports the idea that people and technology may work together. It strives to open doors by utilizing cutting-edge technology, such as artificial intelligence, to promote long-term, sustainable corporate and societal progress.
  • Alxtal — Alxtal is a tech company who optimize the development, design, and manufacturing processes of the manufacturing industry with IT and AI.
  • Yokohama Vanilla — Yokohama Vanilla is a Company which operates Yokohama-based gift sweets brand.
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CDH Investments
VC Fund · Kowloon City, Kowloon, Hong Kong · 26 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: 298
  • Round size: Series A $7.3M–$100M; Series B $14M–$142M; Series C $30M–$220M
  • Lead/follow: 47% lead, 53% follow

Portfolio highlights

  • HitGen — HitGen is provides biological reagents and services to support drug discovery research.
  • PaXini Tech — All Scenario Application—Haptic Digitization and Tactile Technology
  • Eyegood Ophthalmic Hospital — Eyegood Ophthalmic Hospital is a ophthalmology hospital.
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Mizuho Capital
VC Fund · Tokyo, Tokyo, Japan · 25 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, Artificial Intelligence
  • Stage:Series A, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 477
  • Round size: Series A $2M–$79M; Series B $2.1M–$269M
  • Lead/follow: 4% lead, 96% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • CaTe — CaTe is based in Tokyo. CaTe develops and manufactures a Digital Therapeutic (DTx) for remote cardiac rehabilitation. Their invention allows heart disease patients to safely and successfully complete cardiac rehabilitation utilizing standing exercise in a confined space, such as at home, without the use of ergometers or similar instruments.
  • bestat — bestat is a developer of platforms for 3D data creation, management, and utilization using AI and offers digital twins services.
  • FunPep — FunPep is an Industry-university collaboration bioventure company.
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Huagai Capital
VC Fund · Beijing, Beijing, China · 25 investments in Asia Health Care startups, 9 in the past 12 months

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, Hong Kong

Investor stats

  • Total investments: 143
  • Round size: Angel $425k–$15M; Series A $1.4M–$67M; Series B $3.5M–$147M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: May invest from a new fund soon — raised $430M in 2018

Portfolio highlights

  • SeaArt — SeaArt AI is an all-in-one AI creativity community for art, videos, audio, and AI chats, where creators collaborate, spark inspiration, and grow together.
  • GigaAI — Excellent Vision is a spatial intelligence company focused to transforming video creation into a 4D world model, enabling AI big models to grasp, generate, and reason about 4D space.
  • Falcon Technology — Falcon Technology focuses on DSA processor design innovation, developing a dedicated computing technology ecosystem based on the RISC-V architecture to deliver high-performance, energy-efficient processing solutions for next-generation intelligent computing applications.
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Taiyu Investment
VC Fund · 25 investments in Asia Health Care startups, 9 in the past 12 months

Taiyu Investment is an investment firm.

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Investment focus

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

Investor stats

  • Total investments: 43
  • Round size: Seed $4.1M–$20M; Series A $13M–$29M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Immunocan — JAWA138 memimpin di garis depan Inovasi Sistem Permainan Digital dengan fokus pada transparansi dan keadilan, terutama melalui Mekanisme RTP (Return to Player) yang Akurat.
  • Rhino Medical — Rhino Medical develops advanced technologies with independent intellectual property rights. The founding team has rich experience in R&D, marketing, and clinical. On the basis of benchmarking imported phacoemulsification instruments and vitrectomy instruments
  • Infineon Multiomics — Infineon Multiomics is a biotechnology company that provides research and application of space multiomics technology.
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UTEC - The University of Tokyo Edge Capital Partners
VC Fund · Tokyo, Tokyo, Japan · 25 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, Series B
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 195
  • Round size: Seed $2.5M–$35M; Series A $2.8M–$64M; Series B $2.8M–$100M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • Flosfia — FLOSFIA is a spin-off from a research of Kyoto University, specializing in film-formation by mist chemical vapor deposition (CVD). Making use of physical properties of gallium oxide (Ga2O3), FLOSFIA has devoted to development of low-loss power devices.
  • TXP Medical — TXP Medical build a next-generation medical system through acute care.
  • Startbahn — Startbahn aims to realize a richer society by providing the technology needed by artists and people involved with art all over the world. We are developing Startbahn Cert., a service that issues blockchain certificates for artworks, and promoting the development of Startrail, a blockchain infrastructure that is the basis for Startbahn Cert. We alsorun joint projects with other companies.
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Oriza Holdings
VC Fund · Suzhou, Jiangsu, China · 24 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: 205
  • Round size: Series A $1.7M–$55M; Series B $10M–$100M; Series C $14M–$200M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • ChipSine — ChipSine is an Integrated Circuit (IC) design company that focuses on the research and development of automotive-grade electronic control chips.
  • Empower — Empower is an enterprise platform focused on intelligent laser manufacturing that makes lasers smart.
  • Neowise — XinjingZhiyuan is an immune cell therapy company focusing on solid tumors.
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Addor Capital
VC Fund · Nanjing, Jiangsu, China · 24 investments in Asia Health Care startups

Addor Capital offers investment services by financing early stage ventures and holding securities of other companies.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Electronics
  • Stage:Series A, Series B, Seed
  • Geography: China, Hong Kong, Singapore

Investor stats

  • Total investments: 344
  • Round size: Seed $1.4k–$14M; Series A $1.6M–$43M; Series B $13M–$47M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Ibeki — Ibeki provides tiny photoelectric displacement sensors and servo control systems. eBridge uses the high precision and miniaturization of its precision motion drive technology to provide customers with a more complete technology portfolio, and has successfully transformed its core technology into a number of military and civilian products,particularly in aerospace, medical equipment, and intelligent control.
  • Beta Infinite — Beta Infinite approaches data and model technologies in a distinctive and distinctive way.
  • Ruimeng Semiconductor — Ruimeng Semiconductor is a provider of intelligent human-machine interface processor chips and solutions.
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Sinovation Ventures
VC Fund · Beijing, Beijing, China · 23 investments in Asia Health Care startups

Sinovation Ventures is a full-service venture capital firm that actively invests in the Chinese technology market.

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Investment focus

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

Investor stats

  • Total investments: 284
  • Round size: Seed $1M–$14M; Series A $1.4M–$28M; Series B $10M–$110M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $203M in 2022

Portfolio highlights

  • ImageDT — ImageDT is a Enterprise services company.
  • Gestala — Gestala is China’s first pioneer in ultrasound-based Brain-Computer Interface (BCI). We are dedicated to engineering a platform with full-brain read-write capabilities, offering transformative therapeutic modalities for neurological disorders. Beyond clinical impact, we aim to decode the neural code and pave the way for a symbiotic future wherebrain science and artificial intelligence converge.
  • Jiangxian Technology — Jiangxian Technology is a company focused on embodied intelligence, a field that integrates artificial intelligence with physical systems such as robots and smart devices, enabling machines to perceive, learn from, and interact with the real world in a more human-like and adaptive manner across applications like automation, healthcare, and advancedmanufacturing.
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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–$93M
  • 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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Tiantu Capital
VC Fund · Shenzhen, Guangdong, China · 23 investments in Asia Health Care startups

Tiantu Capital is a venture capital association.

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Investment focus

  • Industry: Food and Beverage, E-Commerce, Health Care
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Japan

Investor stats

  • Total investments: 139
  • Round size: Seed $7M–$20M; Series A $1.4M–$16M; Series B $10M–$142M
  • Lead/follow: 52% lead, 48% follow
  • Last fund: May invest from a new fund soon — raised $68M in 2019

Portfolio highlights

  • LAN — LAN is a natural skincare company that offers skin care cosmetics.
  • Zdeer — Zdeer is a health tech brand focusing on artificial intelligence health and consumer medicine. It is committed to improving the health awareness of the whole people, while breaking the shackles of the traditional health industry, through continuous technological innovation and product innovation, to bring better-looking and better-use products toconsumers at a more affordable price.
  • Billy Information — Mycooltv leverage advanced AI technology to create cost-effective solutions for premium hotel experiences. AI travel media network.
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Green Pine Capital Partners
VC Fund · Shenzhen, Guangdong, China · 23 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, Biotechnology, Health Care
  • Stage:Series A, Angel, Series B
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 206
  • Round size: Angel $425k–$7.4M; Series A $1.4M–$92M; Series B $14M–$150M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: May invest from a new fund soon — raised $138M in 2019

Portfolio highlights

  • Enrikenuo — Enrikenuo is a biotechnology company that focuses on the research and development of new generation CAR-NK technology based cell drugs.
  • Sungen Biomedical — Sungen Biomedical is an innovative antibody drug R&D enterprise. It has established international standard technology platforms and original biological macromolecular R&D pipelines. Their focus includes therapeutic drugs for cardiovascular and cerebrovascular diseases, tumors, and more.
  • Canchen Technology — Canchen Tech is a technology company that focuses on the research and development of cell engineering technology in the life sciences field .The company has developed a system-level virtual organ spatiotemporal dynamic evolution model to construct a cross-scale digital twin system for life data. The platform simulates dynamic interactions frommolecules, cells, tissues to organs, and uses algorithms to simulate and deduce evolutionary processes. Its core business is used for preclinical developmental toxicity evaluation of new drugs, target discovery for rare diseases, and early screening of newborn diseases. This technical approach aims to replace and reduce some traditional in vivo animal experiments through data feedback and virtual simulation.
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Nippon Venture Capital
VC Fund · Tokyo, Tokyo, Japan · 22 investments in Asia Health Care startups, 14 in the past 12 months

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, Information Technology
  • Stage:Series A, Series B
  • Geography: Japan, United States, Indonesia

Investor stats

  • Total investments: 172
  • Round size: Series A $1.5M–$74M; Series B $3.3M–$269M
  • Lead/follow: 15% lead, 85% follow
  • Last fund: Likely still investing — raised $278M in 2023

Portfolio highlights

  • Space BD — Space BD aims to become a one-stop shop to respond to all issues related to industrialization of space, and alleviate the work of businesses that are developing new technologies.
  • KUZEN — KUZEN provides enterprise-grade chatbot technologies, especially the bot framework and NLP, via a visual UI without coding. The company is utilizing technology to develop a system that broadens the scope of dialogue. They use technology to provide their customers with next-generation standard procedures that broaden the possibilities ofconversation, resulting in unprecedented business practices.
  • Neusignal Therapeutics — Neusignal Therapeutics is a medical company that develops therapeutic medicines for dementia and psychiatric illnesses.
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Pan-Lin Capital
VC Fund · Shanghai, Shanghai, China · 22 investments in Asia Health Care startups, 11 in the past 12 months

Panlin Capital, following the investment theme of ‘consumption upgrade driven by technology innovation’, targets the start-ups which are specialized in biotechnology and data intelligence sectors.As a venture capital corporation, Panlin Capital has became professional as well as influential in the biotechnology and data intelligence sectors.Identify the entrepreneurs among scientists.Enable the innovators among entrepreneurs。

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Investment focus

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

Investor stats

  • Total investments: 82
  • Round size: Seed $1.4k–$28M; Series A $297k–$35M; Series B $7.1M–$57M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Lingdong Core Optics — Lingdong Core Optics is a high-tech firm that specializes in the design and implementation of silicon-based integrated optoelectronic chips.
  • UniXell Biotechnology — Yuesai Biotechnology is a new-generation cell therapy drug developer, focusing on the development of a new generation of cell therapy drugs.
  • Lingtai Krypton Biotechnology — Lingtai Krypton Biotechnology is an innovative corporation that specializes in the development of lncRNA drugs.
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Gaorong Capital
VC Fund · Wangjing, Beijing, China · 22 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: 291
  • Round size: Seed $4.1M–$62M; Series A $2.8M–$75M; Series B $14M–$110M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2020

Portfolio highlights

  • Genta Kyushu Bio — Genta Kyushu Bio is a cutting edge biotechnology company specializing in the development of precision neuro circuit therapies for central nervous system and ophthalmic diseases. The firm leverages its high throughput screening and drug development platforms to advance innovative treatments utilizing chemogenetics, optogenetics, and gene therapies.
  • Cascade — Cascade produces novel medications that target nuclear receptors for treating metabolic disorders and inflammation.
  • Mochi Intelligence — Mochi Intelligence is a high-tech enterprise specializing in the research and development of embodied intelligent robots. The company is committed to creating intelligent robots including humanoid robots that can truly understand and adapt to the real world through cutting-edge artificial intelligence technology and robotics.
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