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Top 50 Medical Device VC Funds & Investors in Asia (September 2026)

The most active venture capital funds investing in Asia Medical Device startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Asia Medical Device 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
26 China, United States, Hong Kong Series B, Series A, Series C Health Care, Biotechnology, Medical $4.4M–$120M
HSG
VC Fund
15 China, United States, Australia Series B, Series A, Seed Artificial Intelligence, Biotechnology, Software $2M–$226M
Cowin Capital
VC Fund
14 China, Hong Kong, United States Series A, Series B, Seed Manufacturing, Health Care, Biotechnology $1.4M–$51M
Mitsubishi UFJ Capital
VC Fund
14 Japan, United States, Singapore Series A, Series B Information Technology, Software, Health Care $1.2M–$68M
IDG Capital
VC Fund
12 China, United States, India Series A, Series B, Series C Software, Internet, E-Commerce $2.9M–$354M
Taiyu Investment
VC Fund
12 China Seed, Series A, Angel Medical, Health Care, Biotechnology $434k–$100M
BioVenture
VC Fund
12 China, United States, Hong Kong Series A, Series B, Seed Health Care, Biotechnology, Medical $4.4M–$73M
Shunwei Capital
VC Fund
12 China, United States, India Series A, Series B, Series C Manufacturing, Software, Internet $1.5M–$105M
Addor Capital
VC Fund
11 China, Hong Kong, Singapore Series A, Series B, Seed Manufacturing, Semiconductor, Electronics $1.4k–$47M
CD Capital
VC Fund
11 China, United States Series A, Series B, Seed Health Care, Biotechnology, Medical Device $1.4M–$34M
Lilly Asia Ventures
VC Fund
11 China, United States, Hong Kong Series A, Series B, Series C Biotechnology, Health Care, Medical $14M–$308M
BioTrack Capital
VC Fund
10 China, United States, Singapore Series A, Series B, Seed Biotechnology, Health Care, Medical $14M–$168M
Prox Ventures
VC Fund
9 China, United States, United Kingdom Seed, Series A Medical, Biotechnology, Health Care $2.5M–$28M
EFung Capital
VC Fund
9 China, United States, India Series B, Series A, Series C Health Care, Biotechnology, Medical $1.4M–$100M
Haibang Capital
VC Fund
9 China Series A, Series B, Angel Health Care, Biotechnology, Manufacturing $425k–$79M
BIOCHING CAPITAL
VC Fund
9 China Angel, Series A, Seed Medical, Medical Device, Biotechnology $433k–$15M
Matrix Partners China
VC Fund
9 China, United States, Singapore Series A, Series B, Seed Health Care, Software, Biotechnology $1.6M–$137M
Oriza Seed Capital (Oriza Yuandian)
VC Fund
8 China, United States, Singapore Series A, Seed, Angel Manufacturing, Health Care, Medical $223k–$60M
Northern Light Venture Capital
VC Fund
8 China, United States, South Korea Series A, Series B, Seed Health Care, Medical, Biotechnology $1.3M–$60M
ZhenFund
VC Fund
8 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Software, E-Commerce $425k–$30M
Dalton Venture
VC Fund
8 China, India, Canada Seed, Series A, Series B Health Care, Medical, Biotechnology $512k–$50M
Fast Track Initiative, Inc.
VC Fund
8 Japan, United States, United Kingdom Series A, Series B, Seed Health Care, Biotechnology, Medical $345k–$117M
JAFCO
VC Fund
8 Japan, United States, Israel Series A, Series B, Venture - Series Unknown Information Technology, Software, Artificial Intelligence $1.3M–$71M
Legend Capital
VC Fund
8 China, United States, South Korea Series B, Series A, Series C Health Care, Medical, Biotechnology $1.6M–$200M
Med-Fine Capital
VC Fund
8 China, Hong Kong, United States Series A, Seed, Series B Medical, Health Care, Biotechnology $3M–$60M
SND Ventures Group
VC Fund
7 China Series A, Series B, Seed Manufacturing, Semiconductor, Health Care $1.4M–$28M
Nippon Venture Capital
VC Fund
7 Japan, United States, Indonesia Series A, Series B Software, Health Care, Information Technology $1.4M–$50M
UntroD Capital
VC Fund
7 Japan, Singapore, Austria Seed, Series A, Venture - Series Unknown Manufacturing, Biotechnology, Health Care $316k–$15M
Nissay Capital
VC Fund
7 Japan, United States, Ethiopia Seed, Series A Health Care, Information Technology, Medical $457k–$28M
Huagai Capital
VC Fund
6 China, United States, Hong Kong Series A, Series B, Angel Health Care, Biotechnology, Medical $425k–$90M
Oriza Holdings
VC Fund
6 China, United States, Canada Series A, Series B, Series C Manufacturing, Health Care, Biotechnology $1.5M–$200M
Share Capital
VC Fund
6 China, United States, Colombia Series A, Series B, Seed Health Care, Medical, Biotechnology $142k–$93M
ANRI
VC Fund
6 Japan, United States, Indonesia Seed, Series A, Venture - Series Unknown Software, Information Technology, Health Care $275k–$34M
Keio Innovation Initiative
VC Fund
6 Japan, United Kingdom Series A, Seed, Venture - Series Unknown Health Care, Medical, Biotechnology $826k–$41M
Haiyuan Capital
VC Fund
6 China Series A, Seed, Angel Manufacturing, Medical, Semiconductor $432k–$15M
Highlight Capital
VC Fund
6 China, United States, South Korea Series A, Series B, Seed Health Care, Medical, Biotechnology $3M–$84M
SZHTI Group
VC Fund
6 China, United States Series A, Angel Manufacturing, Electronics, Semiconductor $425k–$16M
SBI Investment
VC Fund
6 Japan, South Korea, United States Series B, Series A Software, Information Technology, Financial Services $1.9M–$62M
Marathon Venture Partners
VC Fund
6 China, United States, Hong Kong Series A, Series B, Seed Health Care, Medical, Biotechnology $1.4M–$142M
Shenzhen Capital Group
VC Fund
6 China, United States, Japan Series A, Series B, Series C Manufacturing, Health Care, Software $1.5M–$156M
Mizuho Capital
VC Fund
6 Japan, United States, Singapore Series A, Venture - Series Unknown, Series B Information Technology, Software, Artificial Intelligence $712k–$85M
Sunland Fund
VC Fund
6 China Series A, Series B, Seed Health Care, Medical, Medical Device $1.4M–$28M
Legend Star
VC Fund
5 China, United States, France Series A, Seed, Angel Health Care, Medical, Biotechnology $425k–$52M
Frees Fund
VC Fund
5 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Health Care, Biotechnology $447k–$35M
Huaige Capital
VC Fund
5 China Series A, Angel, Seed Medical, Health Care, Biotechnology $455k–$36M
Seeds Capital
VC Fund
5 Singapore, United States, Hong Kong Seed, Series A, Series B Biotechnology, Artificial Intelligence, Health Care $767k–$45M
Tsinghua Innovation Ventures
VC Fund
5 China Series A, Venture - Series Unknown, Seed Manufacturing, Medical, Health Care $832k–$23M
Apricot Capital
VC Fund
5 China, United States, Hong Kong Series A, Seed, Series B Biotechnology, Health Care, Medical $3M–$58M
Fortune Venture Capital
VC Fund
5 China, Japan, United States Series A, Series B, Seed Manufacturing, Software, Information Technology $462k–$73M
CDH Investments
VC Fund
5 China, United States, Canada Series A, Series B, Series C Manufacturing, Health Care, Biotechnology $7.3M–$220M
Access all 50 VC funds in Asia Medical Device startups.

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

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Investor list

Qiming Venture Partners
VC Fund · Shanghai, Shanghai, China · 26 investments in Asia Medical Device 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: 1112
  • Round size: Series A $4.4M–$50M; Series B $8.5M–$88M; Series C $12M–$120M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: Likely actively investing — fresh fund, raised $8M in 2026

Portfolio highlights

  • Windward Bio — Windward Bio is a clinical-stage, drug development company committed to improving outcomes for people living with serious immunological diseases.
  • 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.
  • 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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HSG
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 15 investments in Asia Medical Device startups

HSG is a leading venture capital and private equity firm investing globally in the technology, healthcare, and consumer sectors.

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Investment focus

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

Investor stats

  • Total investments: 970
  • Round size: Seed $2M–$50M; Series A $4.4M–$100M; Series B $12M–$226M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: Likely still investing — raised $2.5B in 2024

Portfolio highlights

  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/gOw7WpwkJt https://t.co/ot9sGVXU8x
  • Hypershell — An exoskeleton innovator reshaping lifestyles and enabling technology to empower life.
  • Suisheng Technology — Suisheng Technology is an innovative company specializing in AI-driven memory services, dedicated to developing intelligent solutions that help individuals and businesses capture, organize, and retrieve important information with greater efficiency and precision.
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Cowin Capital
VC Fund · Shenzhen, Guangdong, China · 14 investments in Asia Medical Device 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: 345
  • Round size: Seed $1.4M–$20M; Series A $4.3M–$51M; Series B $2.8M–$50M
  • Lead/follow: 46% lead, 54% 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.
  • Sunrise — Sunrise is a high-performance GPU developer specializing in GPU research and development.
  • Digital China — Digital China is a robotics company focused on developing humanoid interactive robots that can break traditional boundaries and create emotionally resonated partners.
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Mitsubishi UFJ Capital
VC Fund · Tokyo, Tokyo, Japan · 14 investments in Asia Medical Device 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: 656
  • Round size: Series A $1.2M–$29M; Series B $3.5M–$68M
  • Lead/follow: 9% lead, 91% follow
  • Last fund: May invest from a new fund soon — raised $94M 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.
  • Caguuu — Caguuu offers high-quality designer furniture at affordable prices, through e-commerce, eliminating middlemen and store operating costs.
  • Link Therapeutics — Link Therapeutics specializes in developing therapeutic methods for targeting autoantibodies and identifying pathogenic autoantibodies.
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IDG Capital
VC Fund · Beijing, Beijing, China · 12 investments in Asia Medical Device 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: 1057
  • Round size: Series A $2.9M–$100M; Series B $7.1M–$115M; Series C $15M–$354M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • AIxCrypto — Qualigen is a biotechnology company focused on the development and commercialization of novel therapeutic products for the treatment of cancer and infectious diseases, as well as the expansion of its flagship FastPack® diagnostic platform.
  • Hypershell — An exoskeleton innovator reshaping lifestyles and enabling technology to empower life.
  • Chengjia Apartment — Chengjia Apartment is a rental start-up that provides different product choices for apartments, hotels, and homestays. Chengjia Apartment extends the business scope to weekly rent, monthly rent, and long-term rent. The company creates a high-quality living environment with ingenuity, take care of every guest with hotel-style service, and creates awarm, comfortable, and temperature-friendly home.Chengjia Apartment is jointly established by China Living Hotel Group and IDG Capital. It has laid out nearly 100 properties in first-tier cities nationwide, with more than 10,000 houses and services.It was founded on 2015 and is headquartered in Shanghai, China.
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Taiyu Investment
VC Fund · 12 investments in Asia Medical Device 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: 49
  • Round size: Seed $2.8M–$20M; Angel $434k–$100M; Series A $13M–$29M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Immunocan — Immunocan focuses on the development of fully human antibody animals, artificial chromosome carriers with independent intellectual property rights, focusing on tumor treatment, and developing antibody therapeutic drugs.
  • 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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BioVenture
VC Fund · Suzhou, Jiangsu, China · 12 investments in Asia Medical Device 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, Biotechnology, Medical
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 189
  • Round size: Seed $7.9M–$41M; Series A $4.4M–$47M; Series B $7.1M–$73M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $204M in 2016

Portfolio highlights

  • SiranBio — SiranBio is a biotechnology that develops innovative siRNA drugs.
  • AusperBio — AusperBio is a Phase II clinical-stage biopharmaceutical company dedicated to transforming hepatitis B treatment for a cure and advancing oligonucleotide therapeutics. Leveraging their innovative and proprietary Med-Oligo™ ASO platform with effective targeted delivery technologies, AusperBio strives to unleash the power of ASO therapeutics to treata wide range of diseases, including viral infections, metabolic conditions, genetic disorders, and immune diseases.
  • 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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Shunwei Capital
VC Fund · Beijing, Beijing, China · 12 investments in Asia Medical Device startups

Shunwei Capital is a venture capital fund that focuses on early to mid-stage investments in local internet industry. It specializes in incubation, startups, early to mid-stage, and growth capital investments. It seeks to invest in the technology, media, telecommunications, high technology, new media, games, internet finance, and rural area internetsectors. Their investors include sovereign wealth funds, fund of funds, university endowment funds, and family offices.

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Investment focus

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

Investor stats

  • Total investments: 574
  • Round size: Series A $1.5M–$35M; Series B $8M–$55M; Series C $25M–$105M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2018

Portfolio highlights

  • uban — Uban provides an internet office leasing and trading services platform that helps to connect owners, customers and brokers, corporate customers in order to provide office rental and follow-up services, enabling its clients to receive real estate related services through a single portal. The company is based in Beijing, China.
  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/gOw7WpwkJt https://t.co/ot9sGVXU8x
  • Darma — DARMA - Digital Healt
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Addor Capital
VC Fund · Nanjing, Jiangsu, China · 11 investments in Asia Medical Device 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: 357
  • Round size: Seed $1.4k–$14M; Series A $1.6M–$44M; Series B $11M–$47M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: May invest from a new fund soon — raised $241M in 2021

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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CD Capital
VC Fund · Shanghai, Shanghai, China · 11 investments in Asia Medical Device 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 $1.5M–$32M; Series B $7.6M–$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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Access 48,091 investors

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

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Lilly Asia Ventures
VC Fund · Shanghai, Shanghai, China · 11 investments in Asia Medical Device 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: 244
  • Round size: Series A $14M–$100M; Series B $25M–$110M; Series C $30M–$308M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $40M in 2019

Portfolio highlights

  • ProfoundBio — ProfoundBio is an oncology biotherapeutics company focused on the development of novel antibody-based therapeutics with curative potential for patients with cancer.
  • InventisBio — InventisBio is a biotech company whose product pipeline includes small molecule drug candidates for targeted therapies in lung cancer, breast cancer and gout. The company is also actively developing drugs that can be combined with other immune-oncology targeted therapies, such as PD-1 antibody, for various cancer indications. The company isco-founded by Dr. Yaolin Wang and other scientists who have previously worked at Merck and Schering-Plough, leading various drug discovery projects in oncology, metabolic and infectious disease areas.
  • 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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BioTrack Capital
VC Fund · Shanghai, Shanghai, China · 10 investments in Asia Medical Device startups, 19 in the past 12 months

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: 94
  • Round size: Seed $15M–$168M; Series A $14M–$45M; Series B $15M–$147M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Taiyi Quantum — Taiyi Quantum is dedicated to encouraging innovation in the distribution and implementation of quantum computing technology, as well as developing sophisticated quantum algorithms and delivering tailored computing solutions for businesses and research institutes.
  • Convergen — Convergen develops TrimTAC, a targeted protein degradation platform for treating neurodegenerative diseases and other conditions driven by protein aggregates
  • Zhiyue Space Intelligence — Zhiyue Space Intelligence specializes in robotic brain and brain systems.
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Prox Ventures
VC Fund · Shanghai, Shanghai, China · 9 investments in Asia Medical Device startups

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

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Investment focus

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

Investor stats

  • Total investments: 82
  • Round size: Seed $2.5M–$14M; Series A $3M–$28M
  • Lead/follow: 18% lead, 82% 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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EFung Capital
VC Fund · Shenzhen, Guangdong, China · 9 investments in Asia Medical Device startups

Shenzhen EFUNG Investment Management Enterprise L. P. is one of China's earliest institutions investing in professional biomedical industries. Their strong research team and great investment returns made us won 'The Most Pioneering VC Institution” 'The Most Dynamic Pharmaceutical VC Institution in China' and 'The Top Ten VCInstitutions in Shenzhen'. With this influence, EFUNG has drawn a lot of attention from the medical and life science industry. And it is interviewed by Nature, which is the most authoritative science magazine in the world. Over a decade of years, they have been focusing on the medical and health industry, especially the VC and PE investment business of novel drugs and high-end medical devices. The mission of EFUNG is to drive the industrialization of medical researches by capital and to gain rich returns to investors. EFUNG has deeply screened and invested in more than 20 domestic and international premium enterprises, such as Chipscreen Biosciences, Frontier Biotechnologies, Ascentage Pharma, Lifotronic, Aridis Pharmaceuticals, and Centrexion.

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Investment focus

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

Investor stats

  • Total investments: 84
  • Round size: Series A $1.4M–$36M; Series B $14M–$100M; Series C $14M–$74M
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • Xinyun Life — Xinyun Life Sciences is a high tech medical enterprise focusing on the R&D and industrialization of artificial intelligence vascular intervention devices. The company integrates AI deeply into its hardware development using a unique dual closed- oop system.
  • Yuewei Medical — Yuewei Medical is a developer of cardiac surgery interventional medical devices.
  • Heluo New Image — Heluo New Image is a cell treatment platform developer that focuses on iPSC directed differentiation, gene editing, large-scale cell product production, and cell therapy technology development.
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Haibang Capital
VC Fund · Hangzhou, Zhejiang, China · 9 investments in Asia Medical Device startups, 8 in the past 12 months

Zhejiang Haibang Investment Management Co., Ltd. (also referred as "Haibang Capital") is an investment company focusing on venture capital and private equity. It was established in 2011 in Hangzhou. It was founded by Naxin Yao, the CEO of Focused Photonics, Inc (300203), a number of returnee entrepreneurs and experienced investmentprofessionals. In 2011, Haibang Capital launched its first Haibang Fund (formerly called “Haibang Talent Fund”) which was the first venture capital in China helping new returnees to start their own businesses. It is also a fund connect capital and "Thousand Talent Program" in Zhejiang Province. Haibang Capital keeps working on helping enterprises grow rapidly and build leading edge in their industry. In addition to providing capitals, Haibang Capital provides its investee companies with personalized value-added services, helping create both good economic and social benefits.

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Investment focus

  • Industry: Health Care, Biotechnology, Manufacturing
  • Stage:Series A, Series B, Angel
  • Geography: China

Investor stats

  • Total investments: 50
  • Round size: Angel $425k–$2.8M; Series A $1.4M–$15M; Series B $10M–$79M
  • Lead/follow: 20% lead, 80% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • MatriQ
  • Hopstem — Hopstem is a Hangzhou-based pharmaceutical company, engaged in human iPSCs/ESCs neural differentiation, cell banking, and cell engineering.
  • Hongde New Materials — Hongde New Materials produces thermoplastic composite materials with fiber reinforcement. It offers energy storage and auxiliary components for solar and automobile power and steering systems.
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BIOCHING CAPITAL
VC Fund · Longgang, Guangdong, China · 9 investments in Asia Medical Device startups

BIOCHING CAPITAL is an investment management firm.

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Investment focus

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

Investor stats

  • Total investments: 20
  • Round size: Angel $433k–$15M; Series A $14M–$14M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Lunke Medical — Lunke Medical focuses on the research, development, production, and sales of medical devices, with particular strength and expertise in high-pressure technologies. The company is committed to delivering safe, reliable, and innovative solutions by combining advanced engineering, strict quality control, and continuous technological advancement tomeet the evolving needs of the medical industry.
  • Taose Tuantuan — Taose Tuantua is a sex toy company that primarily offers TAOSETT sex toy academy and exquisite sex toy community store services.
  • Qinglan Jichuang — Qinglan Jichuang is a domestic high-performance intelligent endoscope innovative enterprise.
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Matrix Partners China
VC Fund · Beijing, Beijing, China · 9 investments in Asia Medical Device 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, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 622
  • Round size: Seed $1.6M–$74M; Series A $2.9M–$61M; Series B $10M–$137M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: Likely still investing — raised $92M in 2023

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.
  • Camera360 — Camera360 is a professional but easy-to use App for photo editing and selfie retouching. Tag #camera360
  • Liepin — Liepin is the largest and most professional high-end talent community-based recruitment site, with its innovative products and unique service model model for create an interactive high-end talent recruitment platform between business, headhunting and workplace. Tens of thousands of professional executive search consultant for businesses and jobseekers set up communication between the bridge and accelerate corporate recruitment process, recommended paying jobs in the workplace, career development planning. 16 job seekers to avoid the risk of privacy protection, millions of high-end elite member libraries, help enterprises development needs.
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Oriza Seed Capital (Oriza Yuandian)
VC Fund · Suzhou, Jiangsu, China · 8 investments in Asia Medical Device startups, 34 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 151
  • Round size: Seed $223k–$25M; Angel $425k–$15M; Series A $1.4M–$60M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • Youshu Quantum — Youshu Quantum is a deep-tech startup specializing in quantum computing software, middleware, and proprietary algorithms.
  • Jitian Xingzhou — Jitian Xingzhou is a commercial aerospace company that provides optical main payloads in batches as one of its primary operations.
  • Thortime Technology — Thortime Technology is a hard-tech company specializing in the full-stack development, manufacturing, and delivery of Neutral Beam Injection systems for controllable nuclear fusion devices.
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Northern Light Venture Capital
VC Fund · Beijing, Beijing, China · 8 investments in Asia Medical Device 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: 360
  • Round size: Seed $1.3M–$60M; Series A $2.9M–$40M; Series B $10M–$58M
  • Lead/follow: 28% lead, 72% 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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ZhenFund
VC Fund · Beijing, Beijing, China · 8 investments in Asia Medical Device startups

ZhenFund is a seed fund founded by former entrepreneurs to invest in the most promising innovators. New Oriental co-founders Bob Xiaoping Xu and Victor Qiang Wang established ZhenFund in 2011 in collaboration with Sequoia Capital China. ZhenFund now has a network of over 800 portfolio companies, including over 30 unicorns based in China. Webelieve that great businesses start with exceptional founding teams. We are dedicated to helping our entrepreneurs build successful companies by providing them with mentorship and the best resources available. Some of our services include biannual demo days to top Chinese VCs, ZhenHR services, marketing and PR consulting, as well as fundraising. Our strong and large CEO network also facilitates entrepreneurs helping each other, especially via our WeChat platform. ZhenFund has been ranked as the “#1 Early-Stage Investment Firm” for six years. Bob Xiaoping Xu, Founder of ZhenFund, has been named on the Midas List since 2016 and ranked #11 in 2019. Anna Fang, Founding Partner and CEO of ZhenFund, has been named on the Midas List since 2019 and made her 4th appearance as #12, and #1 on Midas Seed List in 2022.

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Investment focus

  • Industry: Artificial Intelligence, Software, E-Commerce
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 631
  • Round size: Seed $443k–$15M; Angel $425k–$5.8M; Series A $1.4M–$30M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: Likely still investing — raised $140M in 2022

Portfolio highlights

  • Ehang — Ehang is a technology enterprise focused on R&D and production in airplane and aircraft field. With the combination of software and hardware techniques, it self-developed the communication and real-time viewing hardware and a smartphone operation system. Its product, Ghost, is accepted as the first truly smartphone app operated intelligentrobot, which is widely used in geographical information surveying, professional television aerial filming, roadshow displaying, disaster rescuing and delivery, surveillance and monitoring, and even expected to play important role in the future logistics areas.Ehang was founded in 2014 by makers from China, America, and Singapore who are enthusiastic about drone flying. The enterprise’s core members graduated from Tsinghua University, Peking University, and Duke University in America.
  • Snowplus — SNOWPLUS is an e-cigarette brand that provides users with e-cigarette products through a combination of online and offline sales models. The products are available in 12 different types of flavors. The products use TrueFeel honeycomb ceramic atomization technology and Aeroflow intake. Technology; In addition to reference to the existing food-gradestandards in China, Xuejia has also passed a number of third-party certifications in terms of safety. The core components such as atomizing core and cigarette holder comply with the highest medical safety standards of the FDA and the European Union.
  • Futuring Robot — Futuring Robot is a developer of dual-arm home service robots focusing on C-end home scenarios.
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Dalton Venture
VC Fund · Shanghai, Shanghai, China · 8 investments in Asia Medical Device 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 $512k–$5M; Series A $2.9M–$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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Fast Track Initiative, Inc.
VC Fund · Hongo, Tokyo, Japan · 8 investments in Asia Medical Device startups, 7 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: 84
  • Round size: Seed $345k–$117M; Series A $3M–$51M; Series B $4.7M–$83M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $124M 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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JAFCO
VC Fund · Tokyo, Tokyo, Japan · 8 investments in Asia Medical Device 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, Venture - Series Unknown
  • Geography: Japan, United States, Israel

Investor stats

  • Total investments: 324
  • Round size: Series A $2.5M–$71M; Series B $5.5M–$41M; Venture - Series Unknown $1.3M–$27M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $567M in 2019

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.
  • 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.
  • Yokohama Vanilla — Yokohama Vanilla is a Company which operates Yokohama-based gift sweets brand.
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Legend Capital
VC Fund · Beijing, Beijing, China · 8 investments in Asia Medical Device 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: 481
  • Round size: Series A $1.6M–$93M; Series B $11M–$107M; Series C $15M–$200M
  • Lead/follow: 41% lead, 59% 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/gOw7WpwkJt https://t.co/ot9sGVXU8x
  • Huixin Bio — Huixin Bio is a developer of exosome purification products and early cancer detection technology.
  • Shunyuan Technology — Shunyuan Technology is a high-tech enterprise specializing in the development of fusion simulators and advanced route design solutions, providing innovative technologies and intelligent systems for complex engineering, transportation, and industrial applications.
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Med-Fine Capital
VC Fund · Shanghai, Shanghai, China · 8 investments in Asia Medical Device 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 $3M–$40M; Series B $12M–$60M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $73M 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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SND Ventures Group
VC Fund · Suzhou, Jiangsu, China · 7 investments in Asia Medical Device startups, 8 in the past 12 months

SND Ventures Group is a venture capital and private equity firm specializing in seed investments.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Health Care
  • Stage:Series A, Series B, Seed
  • Geography: China

Investor stats

  • Total investments: 84
  • Round size: Series A $1.4M–$21M; Series B $1.4M–$28M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Ruiqi Deep Space — Ruichi Deep Space is an intelligent remote sensing constellation company built on space-based capabilities and driven by AI , aiming to construct a " commercial aerospace" platform.
  • Jipai Electromagnetic — Jipai Electromagnetic specializes in the manufacture of automobile components and accessories.
  • Sicui Thermal Control — Sicui Thermal Control focuses on the design of next-generation semiconductor and microelectronics thermal management solutions.
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Nippon Venture Capital
VC Fund · Tokyo, Tokyo, Japan · 7 investments in Asia Medical Device 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: 183
  • Round size: Series A $1.4M–$50M; Series B $3.3M–$33M
  • Lead/follow: 16% lead, 84% follow
  • Last fund: Likely still investing — raised $15M 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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UntroD Capital
VC Fund · Sumida, Tokyo, Japan · 7 investments in Asia Medical Device 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, Venture - Series Unknown
  • Geography: Japan, Singapore, Austria

Investor stats

  • Total investments: 144
  • Round size: Seed $316k–$6M; Series A $2.1M–$15M; Venture - Series Unknown $927k–$10M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

  • 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.
  • Teragen Energy — Teragen Energy develops an energy technology platform based on advanced regenerative solid oxide fuel cells that provide both power generation and energy storage in a single system. The company’s systems generate electricity from external fuels such as natural gas or hydrogen without combustion and can operate in reverse to store power as hydrogen.Teragen designs modular systems that can be scaled from megawatt-scale installations for data centers to deployments for microgrids, renewable projects, and utilities. Its technology is intended to help operators manage variable renewable output, ride through outages, and address daily capacity needs using one device. Teragen focuses on applications including AI and cloud data centers, manufacturing and cold storage facilities, remote communities, and electric grid infrastructure. The platform is positioned to replace separate diesel generators and battery systems by combining fuel-flexible generation and low-cost storage in a compact footprint.
  • IGrid Solutions — IGrid Solutions will promote “eDCM” to optimize power energy demand.
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Nissay Capital
VC Fund · Tokyo, Tokyo, Japan · 7 investments in Asia Medical Device 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: 296
  • Round size: Seed $457k–$21M; Series A $1.3M–$28M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $92M in 2019

Portfolio highlights

  • OptQC — OptQC commercializes cutting-edge optical quantum computing technologies developed by the Furusawa-Endo Laboratory. Because optical quantum computers are more scalable than superconducting and other quantum computing implementations, OptQC's optical quantum computers should reach this scale. They also have benefits like faster processing andreduced power consumption, which makes optical quantum computers a possible long-term pinnacle of quantum 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.
  • Fabric Tokyo — FABRIC TOKYO is a Japanese startup provides a direct-to-consumer custom-made apparel brand. (former-company name Lifestyle Design Co., Ltd.). It enables customers to save their sizes, idea fabrics, and favorite designs, allowing them to make their original clothing later.FABRIC TOKYO was founded in 2012 by Yuichiro Mori and is based in Tokyo,Japan.
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Huagai Capital
VC Fund · Beijing, Beijing, China · 6 investments in Asia Medical Device 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: 150
  • Round size: Angel $425k–$15M; Series A $1.4M–$73M; Series B $3.5M–$90M
  • Lead/follow: 42% lead, 58% 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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Oriza Holdings
VC Fund · Suzhou, Jiangsu, China · 6 investments in Asia Medical Device 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: 217
  • Round size: Series A $1.5M–$55M; Series B $10M–$100M; Series C $14M–$200M
  • Lead/follow: 27% lead, 73% 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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Share Capital
VC Fund · Shenzhen, Guangdong, China · 6 investments in Asia Medical Device 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–$7.3M; Series A $1.4M–$17M; Series B $2.9M–$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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ANRI
VC Fund · Tokyo, Tokyo, Japan · 6 investments in Asia Medical Device 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, Information Technology, Health Care
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Japan, United States, Indonesia

Investor stats

  • Total investments: 306
  • Round size: Seed $275k–$10M; Series A $967k–$34M; Venture - Series Unknown $731k–$28M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: Likely still investing — raised $102M in 2022

Portfolio highlights

  • HANAMII — HANAMII is a creative and marketing company that offers digital marketing, branding, business support services, and social media marketing.
  • 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.
  • Arrowsmith — Arrowsmith is committed to unlocking the full potential of bacteriophages to revolutionize the treatment of bacterial infectious diseases. Through transformative science, Arrowsmith strive to create a world free from the pain and fear caused by antimicrobial resistance.
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Keio Innovation Initiative
VC Fund · Tokyo, Tokyo, Japan · 6 investments in Asia Medical Device startups, 12 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 91
  • Round size: Seed $826k–$14M; Series A $2.2M–$41M; Venture - Series Unknown $2M–$12M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: May invest from a new fund soon — raised $94M in 2020

Portfolio highlights

  • ElleThermo — elleThermo aims to implement Semiconductor-Sensitised Thermal Cells (STCs), an energy conversion technology that can generate electricity from unused waste heat above room temperature.
  • Starlight Engine — Starlight Engine develops and commercializes fusion energy power plant technologies.
  • Neusignal Therapeutics — Neusignal Therapeutics is a medical company that develops therapeutic medicines for dementia and psychiatric illnesses.
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Haiyuan Capital
VC Fund · Shenzhen, Guangdong, China · 6 investments in Asia Medical Device startups

Goldport Capital is a Shenzhen-based asset management company.

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Investment focus

  • Industry: Manufacturing, Medical, Semiconductor
  • Stage:Series A, Seed, Angel
  • Geography: China

Investor stats

  • Total investments: 74
  • Round size: Seed $1.4M–$15M; Angel $432k–$14M; Series A $1.4M–$15M
  • Lead/follow: 54% lead, 46% follow

Portfolio highlights

  • Anxin Medical — Anxin Medical is a company dedicated to the research, development, production, and sales of innovative medical devices. The company focuses on advancing healthcare technology through continuous innovation, integrating cutting-edge science and engineering to create high-quality, reliable, and efficient medical products.
  • Hongxin Biology — Hongxin Bio is an mRNA drug developer, focusing on nucleic acid drug delivery and RNA drug development.
  • Huaiye Information — Huaiye Information is a high-tech enterprise specializing in audio and video streaming technologies.
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Highlight Capital
VC Fund · Nanjin, Jiangsu, China · 6 investments in Asia Medical Device startups, 32 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: 177
  • Round size: Seed $10M–$84M; Series A $3M–$73M; Series B $7.6M–$70M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $563M in 2021

Portfolio highlights

  • Genuine Rhythm — Genuine Rhythm is an innovative AI Agent technology developer specializing in bespoke agent creation, advanced algorithm R&D, and rigorous security compliance solutions tailored to diverse enterprise needs.
  • PoShell Robotics — PoShell Robotics is a general-purpose home robot, aiming to create a home-friendly and structurally stable robot.
  • Xunlu Innovation — Xunlu Innovation is a cutting-edge bicycle manufacturer based in Shenzhen, China, specializing in intelligent electric cargo bikes designed to meet modern urban mobility needs.
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SZHTI Group
VC Fund · Shenzhen, Guangdong, China · 6 investments in Asia Medical Device startups, 12 in the past 12 months

SZHTI Group is a company that provides asset management and financing services.

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Investment focus

  • Industry: Manufacturing, Electronics, Semiconductor
  • Stage:Series A, Angel
  • Geography: China, United States

Investor stats

  • Total investments: 134
  • Round size: Angel $425k–$1.4M; Series A $780k–$16M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Menovex — Mir Medical Technology is a laser minimally invasive medical treatment enterprise, offering devices, core components, and modules in oral, urological, skin, and vascular fields. With independent research and development capabilities and international marketing, it provides full-cycle laser medical ODM services to domestic and foreign industrypartners.
  • Synapath — Synapath focuses on using embodied intelligence and robotics technology to create clever systems for making decisions for multi-domain applications that are intelligent.
  • Lingluo Technology — Lingluo Technology is a sleep AI hardware company. It specializes in neurointervention and sleep technology.
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SBI Investment
VC Fund · Minato, Chiba, Japan · 6 investments in Asia Medical Device startups

SBI Investment supports the business development and growth of private venture companies through fund investment. It manages and manages venture capital funds under the management philosophy of becoming a leading company responsible for the creation and development of core industries in the 21st century as a "new industry creator".SBIInvestment has invested in a total of 986 companies in the past, of which 169 (17.1% of investment companies) have exited through IPO or M & A.

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Investment focus

  • Industry: Software, Information Technology, Financial Services
  • Stage:Series B, Series A
  • Geography: Japan, South Korea, United States

Investor stats

  • Total investments: 448
  • Round size: Series A $1.9M–$44M; Series B $4.5M–$62M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $77M in 2020

Portfolio highlights

  • Alxtal — Alxtal is a tech company who optimize the development, design, and manufacturing processes of the manufacturing industry with IT and AI.
  • Direava — Direava is a medical device company that manufactures, sells, leases, and maintains medical equipments along with consulting services.
  • Zerodoor HD — Zerodoor HD specializes in digital transformation in constructing industry.
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Marathon Venture Partners
VC Fund · Shanghai, Shanghai, China · 6 investments in Asia Medical Device 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–$29M; 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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Shenzhen Capital Group
VC Fund · Shenzhen, Guangdong, China · 6 investments in Asia Medical Device 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: 601
  • Round size: Series A $1.5M–$128M; Series B $13M–$141M; Series C $4.4M–$156M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely actively investing — fund raised in 2025

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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Mizuho Capital
VC Fund · Tokyo, Tokyo, Japan · 6 investments in Asia Medical Device 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, Venture - Series Unknown, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 526
  • Round size: Series A $1.5M–$52M; Series B $2.4M–$85M; Venture - Series Unknown $712k–$11M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — raised $92M 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.
  • ElleThermo — elleThermo aims to implement Semiconductor-Sensitised Thermal Cells (STCs), an energy conversion technology that can generate electricity from unused waste heat above room temperature.
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Sunland Fund
VC Fund · Shanghai, Shanghai, China · 6 investments in Asia Medical Device startups

Shanlan Capital is a professional fund focused on early and growing health care industry investments with offices in Shanghai and Beijing, focusing on biomedical and medical devices (in vitro diagnostics and gene technology, minimally invasive interventions, implantable devices, minimally invasive High-growth segments such as surgical instrumentsand medical robots, and medical services. It has invested in 15 medical star companies such as Guoke Hengtai, Ricky Surgery, Jingyi Medical, Haipulos, Langhe Medical, etc. The core team of Shanlan Capital is the founder of the medical industry listed company, professional financial and strategic investment. Composition of people, in strategy formulation, talent introduction, technology research and development, market camp..

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Investment focus

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

Investor stats

  • Total investments: 35
  • Round size: Seed $1.4M–$14M; Series A $1.4M–$16M; Series B $1.5M–$28M
  • Lead/follow: 46% lead, 54% follow

Portfolio highlights

  • Bochuang Biotechnology — Bochuang Biotechnology is a cutting-edge medical repair product developer that specializes in the controllable electrochemical assembly of biomacromolecules. Bochuang Biotechnology is creating a line of high-end biological tissue functional membranes and derived medical device solutions.
  • Insight Technology — Insight Technology is an instrument manufacturer and seller company that specializes in instrument sales, intelligent instrument sales, mechanical equipment research and development, and more.
  • Yangshan Medical Technology — Yangshan Medical Technology is a Shanghai-based company specializing in dental surgery robots.
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Legend Star
VC Fund · Beijing, Beijing, China · 5 investments in Asia Medical Device 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: 161
  • Round size: Seed $1.5M–$19M; Angel $425k–$49M; Series A $1.5M–$52M
  • Lead/follow: 22% lead, 78% follow
  • Last fund: May invest from a new fund soon — raised $127M in 2018

Portfolio highlights

  • CellWall — Cellwall is a desktop robot developer focused on the research, development, upgrade, and marketing of its initial product, CyboPal ONE.
  • 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.
  • 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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Frees Fund
VC Fund · Beijing, Beijing, China · 5 investments in Asia Medical Device 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: 229
  • Round size: Seed $1.4M–$14M; Angel $447k–$14M; Series A $1.4M–$35M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $144M in 2015

Portfolio highlights

  • 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.
  • Flysound — Flysound is a hearing technology company focused on making advanced AI-powered hearing aids affordable and accessible. Its products combine AI sound processing, Bluetooth connectivity, app-based personalization, and rechargeable convenience. With a focus on innovation, quality, and user-friendly design, Flysound aims to help people hear moreclearly and stay connected to everyday life.
  • Yanming Biology — Pyrotech pharmaceuticals is a biotechnology company that focuses om development for drugs for the treatment of inflammation and tumors.
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Huaige Capital
VC Fund · Shanghai, Shanghai, China · 5 investments in Asia Medical Device startups

Huaige Capital is a venture capital focusing on healthcare sector.

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Investment focus

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

Investor stats

  • Total investments: 23
  • Round size: Angel $455k–$14M; Series A $3M–$36M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Heerkang — Heerkang is a medical technology company that provides medical device research and sales, and health consultation services.
  • Xianyan Biopharma — Xianyan Biopharma is a company that focuses on core technology innovation and new medication development for oligonucleotides, and it has a top-tier R&D staff.
  • Yili Pharmaceutical — Yili Pharmaceutical is a pharmaceutical R&D company that mainly engages in biochemical product technology R&D, medical research and experimental development, engineering and technology research and experimental development, and software development.
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Seeds Capital
VC Fund · Singapore, Central Region, Singapore · 5 investments in Asia Medical Device 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: 147
  • Round size: Seed $767k–$6M; Series A $2.4M–$21M; Series B $5M–$45M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • Pinta AI — Pinta AI provides an AI security platform focused on monitoring and controlling AI agents, coding tools, and Model Context Protocol workflows. The platform operates at the runtime layer to track prompts, tool calls, JSON-RPC messages, and outcomes tied to individual users. It gives security teams execution visibility across servers, agents, tools,and resources, including unauthorized or shadow AI setups. Pinta AI detects risky or high-impact actions such as access to sensitive data or critical system resources and surfaces them as security alerts. The software maintains detailed audit trails with identity, tools, timestamps, and actions to support investigation and compliance. It is designed to integrate with existing AI stacks and security operations without requiring major changes to current workflows.
  • 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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Tsinghua Innovation Ventures
VC Fund · Haidian, Beijing, China · 5 investments in Asia Medical Device startups, 14 in the past 12 months

Tsinghua Innovation Ventures is an investment management firm.

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Investment focus

  • Industry: Manufacturing, Medical, Health Care
  • Stage:Series A, Venture - Series Unknown, Seed
  • Geography: China

Investor stats

  • Total investments: 96
  • Round size: Seed $832k–$15M; Series A $1.4M–$23M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Deep Cell — Deep Cell is a Chinese AI driven drug discovery and virtual cell modeling startup. The company integrates artificial intelligence with multi scale molecular physics to construct explainable virtual cell world models, aiming to revolutionize paradigm shifting drug designs and simulate cellular responses to complex diseases.
  • FangQing Technology — Fangqing Technology is a company mainly engaged in multiple areas of the communications equipment and software industry. Its core business activities include software development and sales, software outsourcing services, information system integration services, and computer system services.
  • Starlink Innovation — Starlink Innovation makes satellite communication terminals, space-ground communication hardware and software, and satellite applications.
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Apricot Capital
VC Fund · Shanghai, Shanghai, China · 5 investments in Asia Medical Device startups

Apricot Capital is an investment firm focused on investing in companies in the early and growing stages of the healthcare industry, including biopharmaceuticals, life sciences, medical devices, medical services, and diagnostics.Founded in 2015, Apricot Capital consists of more than 20 professionals and consultants with experience in thehealthcare industry. Its professional background includes life sciences, medicine, finance and law.

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Investment focus

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

Investor stats

  • Total investments: 46
  • Round size: Seed $10M–$41M; Series A $3M–$54M; Series B $14M–$58M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • iRegene — iRegene researches and develops pharmaceutical therapy for neurodegenerative and rare diseases.
  • Vibrant — Vibrant develops an AI drug development platform to focus on building immune system-related drug pipelines. The company will use artificial intelligence algorithms to accelerate the efficiency of drug development in various aspects such as target discovery, drug design, and drug efficacy evaluation; at the same time, the company expects tocontinuously improve the success rate of drug development through sustainable data accumulation and algorithm optimization.It was founded and headed by Dr. Wang Luquan and is based in Guangzhou, Guangdong, China.
  • Microtide Biotechnology — Microtide Biotechnology is an innovative company specializing in the field of in vivo cell therapy. The company is dedicated to advancing next-generation biomedical technologies that harness the body’s own cellular mechanisms for disease treatment, focusing on developing safe, effective, and precise therapeutic solutions to improve patient outcomesand redefine the future of regenerative medicine.
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Fortune Venture Capital
VC Fund · Shenzhen, Guangdong, China · 5 investments in Asia Medical Device startups

Fortune Capital, established in April, 2000, is one of the earliest market-oriented venture capital firms in China. For the past 14 years, Fortune Capital focus its investments on leading companies in four key sectors: TMT (Media oriented), Consumer Goods/Services, Modern Agriculture and Clean Tech.Fortune Capital is ranked among thehighest performing VC/PE firms in China and selected as "Vice President of Venture Capital Committee of IAC," "Vice President of Shenzhen VC Association," "Vice President of Shenzhen Chamber of International Investment & Funding," etc.In addition to providing capitals, Fortune Capital provides its investee companies with personalized value-added services.

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Investment focus

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

Investor stats

  • Total investments: 297
  • Round size: Seed $462k–$73M; Series A $1.5M–$70M; Series B $3M–$57M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: May invest from a new fund soon — raised $860M in 2021

Portfolio highlights

  • Xinjie Energy — Xinjie Energy focuses on the research, development, and production of lithium metal solid-state batteries. These batteries aim to offer energy density and improved safety compared to traditional lithium-ion batteries. The company works on advancing battery technology, with potential applications in electric vehicles and energy storage. It isinvolved in advancing solid-state battery technology and expanding its presence in the battery industry.
  • Strongest Laser — Strongest Laser is a high-power fiber laser equipment developer.
  • NeueHCT — Horizon Continental Technology is a joint venture between Continental Group and Horizon Robotics
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CDH Investments
VC Fund · Kowloon City, Kowloon, Hong Kong · 5 investments in Asia Medical Device 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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