# 99Fund

> 99Fund is a VC fund in Shanghai backing Health Care, Biotechnology and Medical. See 2 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Shanghai, China
- Total investments: 2
- Last investment: Nov 2021
- Lead investor: 50%
- Last updated: Aug 2026
- Website: http://www.99fund.com/

99Fund is a VC fund in Shanghai focused on Health Care and Biotechnology. 99Fund provides comprehensive asset management service solutions to various customers.The company has built six major business segments including public fund business, private equity management business, internet finance business, pension business, international business, and Huitianfu Capital business. The various business sectors havecoordinated development and provide multi-level and comprehensive financial management services for various investors.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Health Care | 2 | 100% |
| Biotechnology | 2 | 100% |
| Medical | 1 | 50% |
| Biopharma | 1 | 50% |
| Pharmaceutical | 1 | 50% |

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series B | 1 | 50% |
| Series C | 1 | 50% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Duoning Biotech | Duoning Biotech is a serum-free medium and technology developer based on international animal cell culture concepts and process development experience. It is committed to the development and production of serum-free media for new animal cells, while providing formula production and technical support for the biopharmaceutical industry. Withancillary services, the products include basic media such as S1, S2, S3, S3-CD and S4, as well as 2×103 feeds and other feed media based on 2×103 feeds; and customized services. |  | Series C | Nov 24, 2021 |  |
| TOT BIOPHARM | TOT BIOPHARM is a clinical-stage biopharmaceutical company dedicated to developing and commercializing innovative oncology drugs and therapies. Our mission is to build a leading brand name of oncology treatments trusted by patients and their families as well as medical professionals in China. | $102M | Series B | Aug 08, 2018 |  |

2 of 2 investments shown.

## Co-investors
- [Cathay Capital](https://shizune.co/investors/profile/cathaycapital) — VC Fund, 1 deal together
- [Center Ventures](https://shizune.co/investors/profile/center-ventures) — VC Fund, 1 deal together
- [Chengwei Capital](https://shizune.co/investors/profile/chengwei-capital) — VC Fund, 1 deal together
- China Universal Asset Management — VC Fund, 1 deal together
- GL Capital — VC Fund, 1 deal together
- GoldTech — VC Fund, 1 deal together

## Similar investors

### Similar stage
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [General Catalyst](https://shizune.co/investors/profile/general-catalyst-partners) — VC Fund
- [FJ Labs](https://shizune.co/investors/profile/fj-labs) — VC Fund

## FAQ

### What does 99Fund invest in?

99Fund invests primarily in Health Care, Biotechnology and Medical startups, most often at Series B and Series C stage. Most of the 2 investments tracked by Shizune back companies in China. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did 99Fund last invest?

The most recent investment recorded for 99Fund closed in Nov 2021. Shizune tracks 2 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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