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Top 50 Retail Startup Investors in Asia (October 2023)

The most active venture capital funds and angel investors investing in Asia Retail startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Asia Retail startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
East Ventures
VC Fund
12 Japan, Indonesia, Singapore Seed, Series A Software, Information Technology, E-Commerce $640k–$42M
IDG Capital
VC Fund
10 China, United States, India Series A, Series B, Series C Software, Internet, E-Commerce $2.9M–$190M
Vision Plus Capital
VC Fund
9 China, United States, Canada Series A, Series B, Series C E-Commerce, Artificial Intelligence, Health Care $3.3M–$130M
Wavemaker Partners
VC Fund
7 United States, Singapore, Philippines Seed, Series A Software, E-Commerce, Information Technology $880k–$20M
Capital Today
VC Fund
7 China, United States Series A, Series B, Series C E-Commerce, Food and Beverage, Internet $1.4M–$818M
GGV Capital
VC Fund
6 United States, China, Singapore Series B, Series A, Series C Software, Information Technology, Artificial Intelligence $5M–$134M
Golden Gate Ventures
VC Fund
6 Singapore, Indonesia, Thailand Seed, Series A, Series B FinTech, E-Commerce, Financial Services $350k–$15M
Sequoia Capital China
VC Fund
6 China, United States, Australia Series A, Series B, Series C Health Care, Biotechnology, Artificial Intelligence $4M–$200M
ZhenFund
VC Fund
5 China, United States, Singapore Series A, Seed, Series B Artificial Intelligence, Software, E-Commerce $820k–$50M
Ventech China
VC Fund
5 China, Japan, Austria Series A, Series B, Seed E-Commerce, Retail, Big Data $2M–$50M
01vc
VC Fund
4 China, Hong Kong, United States Series A, Angel, Seed E-Commerce, Logistics, B2B $275k–$11M
Lightspeed China Partners
VC Fund
4 China, United States, Hong Kong Series A, Series B, Series C Internet, Manufacturing, Software $1.4M–$135M
SMDV
VC Fund
4 Indonesia, Thailand, Singapore Series A, Seed, Series B E-Commerce, Information Technology, Financial Services $800k–$45M
Indus Valley Capital
VC Fund
4 Pakistan Seed, Series A, Pre-Seed Retail, Fitness, Marketplace $1M–$10M
Frees Fund
VC Fund
4 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, E-Commerce, Health Care $412k–$28M
Mekong Capital
VC Fund
4 Vietnam, Hong Kong Private Equity, Series A Manufacturing, Retail, Service Industry $5.4M–$15M
Green Pine Capital Partners
VC Fund
4 China, United States, Canada Series A, Angel, Series B Artificial Intelligence, Manufacturing, Software $412k–$150M
Insignia Ventures Partners
VC Fund
4 Indonesia, Singapore, Vietnam Seed, Series A, Series B Financial Services, FinTech, Information Technology $50k–$131M
K2VC
VC Fund
4 China, United States, Japan Series A, Angel, Seed E-Commerce, Health Care, Software $412k–$23M
Meridian Capital
VC Fund
4 China, Latvia, Seychelles Series A, Angel, Series B Internet, Software, Information Technology $412k–$55M
Share Capital
VC Fund
4 China, United States, Hong Kong Series A, Series B, Angel Medical, Health Care, Biotechnology $412k–$55M
Alibaba Group
VC Fund
4 China, United States, India Series A, Series B, Series C E-Commerce, Internet, Software $1.4M–$600M
GSR Ventures
VC Fund
4 China, United States, Singapore Series A, Series B, Seed Software, Information Technology, Artificial Intelligence $1.6M–$74M
Alpha JWC Ventures
VC Fund
4 Indonesia, Singapore, Vietnam Seed, Series A, Series B E-Commerce, Information Technology, Financial Services $1.5M–$131M
Plum Ventures
VC Fund
4 China, United States, Japan Angel, Series A, Seed Software, E-Commerce, Internet $412k–$16M
Hejun Capital
VC Fund
4 China Angel, Series A, Series B Food and Beverage, Information Technology, E-Commerce $275k–$69M
SIG China (SIG Asia Investments)
VC Fund
4 China, United States, Singapore Series B, Series A, Series C E-Commerce, Software, Artificial Intelligence $3.1M–$100M
Global Founders Capital
VC Fund
4 United States, Germany, United Kingdom Seed, Series A, Pre-Seed Financial Services, Software, FinTech $725k–$30M
Sinovation Ventures
VC Fund
3 China, United States, Hong Kong Series A, Seed, Series B Software, Artificial Intelligence, Mobile $770k–$110M
Chuxin Capital
VC Fund
3 China, Hong Kong Angel, Series A, Seed E-Commerce, Information Technology, Internet $412k–$40M
GF Xinde Investment Management
VC Fund
3 China, United States, Hong Kong Series A, Series B, Angel Manufacturing, E-Commerce, Information Technology $412k–$56M
QF Capital
VC Fund
3 China, Hong Kong, United States Series A, Angel, Seed E-Commerce, Internet, Software $412k–$15M
Mizuho Capital
VC Fund
3 Japan, United States, China Series A, Series B Information Technology, Software, Internet $7.8M–$343M
Ping An Ventures
VC Fund
3 China, United States, Israel Series A, Series B, Angel Health Care, Biotechnology, Medical $412k–$96M
K3 Ventures
VC Fund
3 Singapore, United States, Indonesia Series A, Seed Financial Services, FinTech, Software $874k–$100M
Magic Capital
VC Fund
3 China, United States, Hong Kong Series A, Angel, Seed Apps, Education, Internet $137k–$14M
Crystal Stream Capital
VC Fund
3 China, United States, Egypt Series A, Series B, Seed E-Commerce, Fashion, Internet $1.4M–$30M
Kickstart Ventures
VC Fund
3 Philippines, Singapore, United States Seed, Series A E-Commerce, Software, Financial Services $30k–$10M
Joy Capital
VC Fund
3 China, United States, Israel Series A, Series B, Series C E-Commerce, Food and Beverage, Software $1.4M–$500M
Vertex Ventures Southeast Asia & India
VC Fund
3 India, Singapore, Indonesia Series A, Series B, Seed E-Commerce, FinTech, SaaS $1.5M–$45M
Saison Capital
VC Fund
3 Singapore, Indonesia, Philippines Seed, Pre-Seed, Series A Financial Services, FinTech, Information Technology $1.5M–$16M
MindWorks Capital
VC Fund
3 Hong Kong, China, United States Seed, Series A, Series B Financial Services, FinTech, Logistics $500k–$150M
Vertex Ventures
VC Fund
3 United States, China, Israel Series A, Series B, Series C Software, Information Technology, E-Commerce $2M–$100M
Mitsubishi UFJ Capital
VC Fund
3 Japan, United States, China Series B, Series A Software, Health Care, Biotechnology $11M–$330M
Gaorong Capital
VC Fund
3 China, United States, Hong Kong Series A, Series B, Series C Software, E-Commerce, Information Technology $2.7M–$500M
Volcanics Venture
VC Fund
3 China, United States Series A, Series B, Seed Health Care, Biotechnology, Software $350k–$30M
Hillhouse Capital Group
VC Fund
3 China, United States, India Series B, Series A, Series C Biotechnology, Health Care, Software $1.4M–$310M
Century Oak Capital
VC Fund
3 Pakistan, Kenya, Switzerland Seed, Pre-Seed, Series A Retail, E-Commerce, Software $600k–$37M
Gentree Fund
VC Fund
3 Philippines, Indonesia Seed, Series A Retail, Food and Beverage, E-Commerce $1M–$3M
OTB Ventures
VC Fund
3 United States, United Kingdom, Singapore Series A, Seed, Series B Artificial Intelligence, Software, Information Technology $3.2M–$40M
Access all 50 investors in Asia Retail startups.

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

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Investor list

East Ventures
VC Fund · Tokyo, Tokyo, Japan · 12 investments in Asia Retail startups, 53 in the past 12 months

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

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Investment focus

  • Industry: Software, Information Technology, E-Commerce
  • Stage:Seed, Series A
  • Geography: Japan, Indonesia, Singapore

Investor stats

  • Total investments: 334
  • Round size: Seed $640k–$16M; Series A $2.1M–$42M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • SoLeLands — SoLeLands provides children with future-ready skills, virtues, and applied competences and inspires children to love learning.
  • Maka Motors — MAKA is dedicated to building the best electric motorcycles for Indonesian riders.
  • Zenith Learning Group — Zenith Learning Group's mission is to deliver a holistic, world-class education to learners across South East Asia through technology.
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IDG Capital
VC Fund · Beijing, Beijing, China · 10 investments in Asia Retail startups, 24 in the past 12 months

IDG Capital is an investment firm that funds early- to growth-stage companies in the technology sector. Today they work with private equity and venture capital fund managers, investment advisors, and business entities from around the world. Their limited partners include many internationally reputable investors, including sovereign wealth funds,pension funds, institutional investors, major charities, university endowments, family offices, and business luminaries.IDG Capital brings a powerful combination of global perspective and local experience to investment management. As long-term value investors, they are highly skilled at mobilizing global resources to address local needs, especially for Inbound and outbound opportunities in China and the rest of Asia. Their highly skilled team has an in-depth understanding of the Chinese market and enjoys close relationships with many influential business leaders.

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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: 611
  • Round size: Series A $2.9M–$100M; Series B $6.9M–$137M; Series C $15M–$190M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • Infinimos — Infinimos is a Cosmos ecological liquid staking derivatives platform that aims to build a decentralized and democratized ecosystem capable of maximizing staking rewards while retaining liquidity.
  • Xbotspace — Xbotspace is the generative AI middleware startup investigates the implementation and deployment of huge language models.
  • Biotyx Medical — Biotyx Medical manufactures and sells iron-based biodegradable vascular materials and stents.
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Vision Plus Capital
VC Fund · Hangzhou, Zhejiang, China · 9 investments in Asia Retail startups, 10 in the past 12 months

Vision Plus Capital (also known as Yuan Jing Capital) focuses on the Internet innovation, consumer upgrades, digital medical, intelligent technology four areas, the RMB and the dollar double currency investment. Yuan Jing Capital for the start-up enterprises to provide multi-faceted help, including the introduction of talent, strategy carding,operational upgrading, financing strategies.Founded in 2015, it was composed of team members for first-line Internet company's core positions of experts and domestic first-tier VC senior investors, for the start-up companies to provide practical experience and team support.

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Investment focus

  • Industry: E-Commerce, Artificial Intelligence, Health Care
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 133
  • Round size: Series A $6.9M–$60M; Series B $3.3M–$70M; Series C $28M–$130M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • U-Join — U-Join is a business specializing in the creation of CNC machine tools. U-Join is an ecological industrial big data service provider that focuses on the collecting of various explicit and implicit data in the industrial manufacturing process.
  • Beilian Zhuguan — Beilian Zhuguan offers ToB technology services to users in order to help them reduce IT resource expenses through technical techniques.
  • Innovac Therapeutics — Innovac Therapeutics operates as a biotechnology company dedicated to developing innovative vaccines for patients with unmet medical needs, using our proprietary RNA technology platforms and manufacturing capabilities.
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Wavemaker Partners
VC Fund · Singapore, Central Region, Singapore · 7 investments in Asia Retail startups, 28 in the past 12 months

Wavemaker Group is a cross-border venture capital firm founded in 2003 and one of the most active early-stage investors across multiple funds.

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Investment focus

  • Industry: Software, E-Commerce, Information Technology
  • Stage:Seed, Series A
  • Geography: United States, Singapore, Philippines

Investor stats

  • Total investments: 270
  • Round size: Seed $880k–$3.5M; Series A $2.5M–$20M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • MFast — MFast operates as a fintech platform. MFAST is a brand under Digital Payment Solution Joint Stock Company - DigiPay JSC.
  • Pi-xcels — Eco-friendly NFC digital receipts solution for actionable shopper data and enhanced customer journeys. No App, Just Tap. With one-tap convenience, Pi-xcels unlocks omni-channel marketing opportunities and boosts performance for retailers with our customer intelligence platform.
  • Serve Robotics — Why move a 2-pound burrito in a 2-ton car? Meet Serve, the future of sustainable, self-driving delivery.
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Capital Today
VC Fund · Shanghai, Shanghai, China · 7 investments in Asia Retail startups

Capital Today manages dedicated China country funds of USD2.5 billion. It is one of the first independent private equity firms in China. Founded by Kathy Xu in 2005, Capital Today is committed to provide growth capital to small and medium-sized Chinese companies and helps them build sustainable businesses and No.1 brands in China. CapitalToday's investment theme is to capture opportunities with the booming Chinese middle class and their changing life styles. Capital Today has a focused and disciplined strategy and hands-on approach. It is dedicated to help the Chinese entrepreneurs build KPI, Culture and No.1 brands (Capital Today's "3 Weapons"). Capital Today is a strong believer of long term investment and tends to hold the investment for many years. Capital Today has been focused on Consumer. Retail & Internet Sector. Their Portfolios IncludeJD.com, Youku Tudou.com, Ganji.com, Dianping.com, Three Squirrels online snack food brand, Yifeng Pharmacy Chain, Cosrno Lady Underwear Chain, Nuts Snack Food Chain, BiFengTang Quick Service Restaurant, Tsui Wah Restaurant Chain, etc.

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Investment focus

  • Industry: E-Commerce, Food and Beverage, Internet
  • Stage:Series A, Series B, Series C
  • Geography: China, United States

Investor stats

  • Total investments: 84
  • Round size: Series A $1.4M–$100M; Series B $2.1M–$53M; Series C $16M–$818M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Dr. Cheese — Dr. Cheese is a cheese product brand providing consumers with a high-calcium and high-protein food. The company is dedicated to building a brand platform for exclusive cheese retailing, specializing in exclusive cheese snacks, cheese foods, and cheese pastry gifts.
  • HAI ROBOTICS — As the pioneer in ACR systems, Hai Robotics is committed to providing automated warehouse solutions and autonomous mobile robots (AMRs). We aim to help factories to realize warehouse and logistics automation. Get in touch now!
  • XYZ Robotics — XYZ Robotics develops AI-enabled robotic perception and manipulation technology for logistics and manufacturing automation. The company develops autonomous robotic solutions for put wall sorting and goods-to-person picking. Its robot sorts unorganized, random warehouse goods into groups of customer orders. The solution embodies its strength in deeplearning and robotics.
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GGV Capital
VC Fund · Menlo Park, California, United States · 6 investments in Asia Retail startups, 33 in the past 12 months

We believe the talent to build great companies comes from anywhere. A global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed- to growth-stage investments across Social/Internet, Enterprise Tech, and Smart Tech sectors.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Series B, Series A, Series C
  • Geography: United States, China, Singapore

Investor stats

  • Total investments: 594
  • Round size: Series A $5M–$50M; Series B $11M–$60M; Series C $10M–$134M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • JOKR — Grocery shopping is easier now with JOKR, your instant delivery app. Order your groceries and favorite products in our online supermarket and get them instantly at your door. Download the app now and make your first grocery order on us. Available in IOs and Android. Access www.jokr.com for more info
  • Gem — Gem Security gives SecOps teams the tools they need to respond to cloud threats with context, fast, providing the industry's leading platform for cloud detection and response.
  • Ronovo Surgical — Founded in 2019 and headquartered in Shanghai, Ronovo Surgical is founded by industry veterans from global leaders in surgical and industrial robotics, such as Intuitive Surgical, Johnson & Johnson, Medtronic and KUKA. Aiming to transform how surgery is performed in China, Ronovo is leveraging robust R&D capabilities and strategicpartnerships globally to accelerate the development of a broad portfolio of MIS and digital surgery solutions that exemplifies the core themes of simplicity, precision, and intelligence.
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Golden Gate Ventures
VC Fund · Singapore, Central Region, Singapore · 6 investments in Asia Retail startups

Golden Gate Ventures is a venture capital firm investing across Southeast Asia. Since 2011, the firm has launched four funds, managed US$250M AUM, and invested in 60+ companies in over 7 countries in Asia. The firm focuses on investing in technology companies driven by the rising consumer class in Southeast Asia.

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Investment focus

  • Industry: FinTech, E-Commerce, Financial Services
  • Stage:Seed, Series A, Series B
  • Geography: Singapore, Indonesia, Thailand

Investor stats

  • Total investments: 115
  • Round size: Seed $350k–$3.5M; Series A $1.3M–$15M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • 13o3 — 13o3 is a boutique investment firm specializing in providing tailored solutions to complex and sophisticated business challenges for discerning clientele, mainly high-profile individuals. Launched in 2013 and founded by Asfand Yar Saeed, the company operates under the
  • Locofy — Locofy provides a service that converts designs into code. Locofy.ai aims to take away the menial work of engineers without adding complexity i.e. automating 50% or more of the current workflow starting with frontend code, allowing teams to convert their designs to code and an interactive and responsive live prototype (that runs on code), withoutwriting a single line of code.
  • Yisheng — Yisheng is a digital service platform for door-to-door car washing.
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Sequoia Capital China
VC Fund · Beijing, Beijing, China · 6 investments in Asia Retail startups, 56 in the past 12 months

We help founders build enduring companies.

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Investment focus

  • Industry: Health Care, Biotechnology, Artificial Intelligence
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Australia

Investor stats

  • Total investments: 643
  • Round size: Series A $4M–$90M; Series B $11M–$172M; Series C $25M–$200M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • FUE Bioscience — FUE Bioscience is a medical robot R&D business that specializes in microsurgery above the head and neck. It continues to develop a product matrix of fully intelligent, high-precision, and anthropomorphic surgical robots based on the platform of macro-micro-controlled humanoid dual-arm robots.
  • Life Wilderness — Life Wilderness reimagines human-computer interaction and is linked to the transportation and travel industries.
  • Xintu Heterogeneous — Xintu Heterogeneous offers data storage solutions for heterogeneous computing.
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ZhenFund
VC Fund · Beijing, Beijing, China · 5 investments in Asia Retail startups, 12 in the past 12 months

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, Series B
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 304
  • Round size: Seed $820k–$20M; Series A $1.4M–$27M; Series B $3.4M–$50M
  • Lead/follow: 13% lead, 87% follow
  • Last fund: Likely still investing — raised $130M in 2022

Portfolio highlights

  • Mogic AI — Mogic AI is an advertising technology platform that provides tools to create and launch campaigns by pulling product images into ads using AI.
  • Levinthal — Levinthal is an AI-driven protein design platform. They offer services for artificial intelligence in food safety and medical care. They offer synthetic biology, food, feed, and environmental protection.
  • Altos Radar — Altos Radar accelerate the development and implementation of 4D Imaging Radar technology in driver-assisted and fully autonomous driving systems.
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Ventech China
VC Fund · Shanghai, Shanghai, China · 5 investments in Asia Retail startups

Ventech Capital was founded in 1998 in France. Ventech is one of the most famous VC funds in Europe and manages four funds. In China, Ventech China manages three funds. Globally, this represents more than USD 1B total asset under management. Ventech China is based in Shanghai. Ventech China 3 is a USD 220 million venture capital fund focused oncommunities, M-commerce, Big Data and Fintech. Its current portfolio companies include Keep, the No.1 fitness training and community app in China, WonderFull, the emerging Japanese product M-commerce platform, Juzi, the leading entertainment news platform, Datawin, the leading big data company in sales leads generation, and Blued, the No.1 gay community app in China. Ventech China is dedicated to growing together with innovative startups and help them to become global leaders in their fields.

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Investment focus

  • Industry: E-Commerce, Retail, Big Data
  • Stage:Series A, Series B, Seed
  • Geography: China, Japan, Austria

Investor stats

  • Total investments: 50
  • Round size: Seed $2M–$50M; Series A $3M–$14M; Series B $6.9M–$37M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $150M in 2011

Portfolio highlights

  • Reflaunt — Reflaunt empowers brands with the technology to embrace circular fashion. The allows brand's customers to put back on sale their past purchases without ever leaving the brand ecosystem rewards them with brand shopping credits
  • Naive Blue — Naive Blue is a photography service provider company.
  • Huamei Haolian — Huamei Haolian specializes in providing telemedicine and medical tourism services.
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Access 48,091 investors

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

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01vc
VC Fund · Shanghai, Shanghai, China · 4 investments in Asia Retail startups

01vc is a venture capital firm focused on making early-stage investments in mobile internet and marketplace startups such as trading platforms, enterprise service, SaaS, logistics, mobile internet-related finance, e-commerce, and B2B. The firm also invests in the Southeast Asia market. 01vc was established in 2014 and is based in Shanghai, China.

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Investment focus

  • Industry: E-Commerce, Logistics, B2B
  • Stage:Series A, Angel, Seed
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 45
  • Round size: Seed $1M–$1.5M; Angel $275k–$1.4M; Series A $1M–$11M
  • Lead/follow: 20% lead, 80% follow
  • Last fund: Likely still investing — raised $60M in 2022

Portfolio highlights

  • Tymo — TYMO is a company specializing in developing hair styling tools. TYMO brand gets well known since 2019, through the exposure of its famous straightening brushes among social media influencers. TYMO offers best products at affordable price. Worldwide shipping service is available.
  • BANGBANG ROBOT — BANGBANG ROBOT manufactures and sells movable assistant robot for the disabled people.
  • Hezhong Enterprise Cloud — Hezhong Enterprise Cloud offers digital working capital solutions for enterprises. They use proprietary algorithms to create a reasonable market pricing model, improve capital flow efficiency, and achieve a win-win situation for both parties.
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Lightspeed China Partners
VC Fund · Shanghai, Shanghai, China · 4 investments in Asia Retail startups

Lightspeed China Partners is a leading Chinese venture capital firm focusing on early-stage investments. We are the Chinese partners to Lightspeed Venture Partners. Our expertise is in mobile, Internet, technology-enabled services, and enterprise solution companies. We currently manage three USD funds and one RMB fund.Lightspeed China Partners isalso a young team. We value equality, respect and fairness. Our culture reflects our focus, drive for excellence, and our win-win approach to business.We are dedicated to identifying the next generation of entrepreneurial leaders. To accomplish this , we analyze trends, work with creative teams, and undertake joint efforts to pursue early-stage investments. We are honored to help entrepreneurs because your dream is the greatest thing in the world.

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Investment focus

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

Investor stats

  • Total investments: 119
  • Round size: Series A $1.4M–$86M; Series B $10M–$100M; Series C $38M–$135M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: Likely still investing — raised $110M in 2023

Portfolio highlights

  • DAISCH — DAISCH is a high-precision inertial positioning solution provider that provides high-precision motion and position sensing systems and tool chains for autonomous driving. It develops unmanned high based on carrier phase differential technology, inertial navigation technology and machine vision technology. The precision positioning system realizeshigh-precision positioning of all road conditions through visual information fusion RTK combined inertial navigation, providing over-the-horizon road conditions and environmental information for automatic driving.
  • InventChip — Inventchip provides power conversion solutions based on SiC power devices, SiC driver IC and SiC power modules. Applications: Wind Inverter, PV Inverter, Industrial Power Supply、 HEV/EV, Motor Drive, Charging Pile and other fields, and many.
  • Jiana Energy — Jiana Energy offers sodium-ion batteries that can be used for energy storage of green energy such as solar energy and wind energy, smart grid power generation side, user side, backup power supply, low-speed electric vehicles, two-wheeled vehicles, and other fields.
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SMDV
VC Fund · Jakarta, Jakarta Raya, Indonesia · 4 investments in Asia Retail startups, 6 in the past 12 months

SMDV sinar mas digital ventures

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Investment focus

  • Industry: E-Commerce, Information Technology, Financial Services
  • Stage:Series A, Seed, Series B
  • Geography: Indonesia, Thailand, Singapore

Investor stats

  • Total investments: 47
  • Round size: Seed $800k–$5.3M; Series A $2.6M–$28M; Series B $18M–$45M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Praktis — PTS Supply Chain is lending brand owners a helping hand in managing day-to-day operational activity.
  • SIRCLO — SIRCLO is an e-commerce enabler in Indonesia that helps businesses sell online. SIRCLO offers solutions that are divided into 2 main categories; the entrepreneur (SIRCLO Store, IbuSibuk) and enterprise solutions (SIRCLO Commerce, ICUBE by SIRCLO, Sooplai, and Orami).Today SIRCLO has served more than 100.000 brands to grow their business online,with a team of 1.000 employees and representatives based in Bandung, Yogyakarta and Surabaya.
  • SoLeLands — SoLeLands provides children with future-ready skills, virtues, and applied competences and inspires children to love learning.
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Indus Valley Capital
VC Fund · Karachi, Sindh, Pakistan · 4 investments in Asia Retail startups

Indus Valley Capital is an early stage venture capital fund investing in Pakistani startups. We help founders build Pakistan's future.

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Investment focus

  • Industry: Retail, Fitness, Marketplace
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Pakistan

Investor stats

  • Total investments: 19
  • Round size: Seed $1M–$10M; Pre-Seed $1.3M–$2.1M
  • Lead/follow: 74% lead, 26% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Paismo Inc — Paismo HR & Payroll is the Next-Gen Human Capital Management software giving you access to Schedule Management, Time Off, Timesheets, Payroll, etc.
  • Remotebase — Remotebase | Hire silicon valley caliber developers remotely | Remote software engineers jobs
  • Zyp Technologies — Zyp Technologies produces electric motorcycles intended to accelerate a net-zero carbon emission world. The business provides consumers with electric vehicle models and a broadened battery swap network that makes the switch to electric motorcycles simple.
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Frees Fund
VC Fund · Beijing, Beijing, China · 4 investments in Asia Retail startups, 11 in the past 12 months

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, E-Commerce, Health Care
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 143
  • Round size: Seed $1.4M–$11M; Angel $412k–$5.8M; Series A $1.4M–$28M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — last raise 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.
  • Yanming Biology — Pyrotech pharmaceuticals is a biotechnology company that focuses om development for drugs for the treatment of inflammation and tumors.
  • Optical Standard Technology — Optical Standard Technology focuses on the design and manufacture of optical computing chips and optical computing boards for use in scenarios requiring large amounts of AI computing power, such as large model reasoning and training, autonomous driving, smart cities, quantitative finance, AI security.
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Mekong Capital
VC Fund · Ho Chi Minh City, NA - Vietnam, Vietnam · 4 investments in Asia Retail startups

Mekong Capital is a Vietnam-focused Private Equity firm, specializing in consumer driven businesses. Mekong Capital’s investee companies are typically among the fastest growing and market leading companies in Vietnam’s consumer-driven sectors such as retail, restaurants, consumer products and distribution.Established in 2001, Mekong Capitalhas the most extensive private equity track record in Vietnam. Our funds have completed 30 private equity investments, of which 22 have been fully exited and 1 has been partially exited. Mekong Capital has managed 5 funds, one of which is currently making new investments. Mekong Capital has a team of 50+ full-time people in our offices in Ho Chi Minh City, Hanoi, who have an average tenure at Mekong Capital of around 6 years. Three Partners with combined 31 years at Mekong Capital.Mekong Capital invests in fast-growing companies, with ambitious expansion plans, and a strong commitment to building management teams that will apply best practices and successfully execute on those expansion plans. These companies are typically well-established companies in their sectors, but which typically operate in fragmented and fast growing markets which present attractive growth opportunities.Mekong Capital is strongly committed to adding significant value at each of its investee companies – through operational improvements, building management teams, introduction of best practices and outside experts, and applying other elements of our Vision Driven Investing framework.

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Investment focus

  • Industry: Manufacturing, Retail, Service Industry
  • Stage:Private Equity, Series A
  • Geography: Vietnam, Hong Kong

Investor stats

  • Total investments: 42
  • Round size: Private Equity $5.4M–$15M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $246M in 2019

Portfolio highlights

  • Rever.vn — Rever is a technology company operating in the field of Real Estate, officially launched in early 2016. With a team of senior personnel in many fields, Rever develops online real estate distribution system based on the map, providing the perfect brokerage service, creates a smart and high-performance process of buying, selling, renting real estate,based on a combination of modern technology and commodity consultants. head.
  • LiveSpo Global — LiveSpo is a brand focusing only on R&D, manufacturing, and distribution brand of Spobiotics for digestive and respiratory health.
  • Gene Solutions — Gene Solutions is a genetic testing company in Vietnam and the market leader for reproductive health tests, which respond to critical healthcare needs, such as helping parents detect chromosomal disorders during pregnancy, or preventing genetic problems, and helping to conceive a child (in-vitro fertilization – IVF).
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Green Pine Capital Partners
VC Fund · Shenzhen, Guangdong, China · 4 investments in Asia Retail startups, 7 in the past 12 months

Green Pine Capital Partners is a venture capital firm.

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Investment focus

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

Investor stats

  • Total investments: 135
  • Round size: Angel $412k–$2.1M; Series A $1.4M–$89M; Series B $9.6M–$150M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $137M in 2019

Portfolio highlights

  • Biodep — Biodep produces probiotics and derivatives, which are used in meals, healthy foods, cosmetics, environmental remediation, contemporary agriculture, and other industries.
  • Readline — Readline is a biological immobilized enzyme catalysis technology application service provider.
  • Guorui Xiechuang — Guorui Xiechuang is a joint venture subsidiary of Betterray New Materials Group Co., Ltd., provides power + energy storage products and system integration solutions for global customers.
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Insignia Ventures Partners
VC Fund · Singapore, Central Region, Singapore · 4 investments in Asia Retail startups, 11 in the past 12 months

Insignia Ventures Partners is a venture capital firm that specializes in startup investment. Insignia Ventures Partners is an investment firm managed by a former Sequoia Asia partner, Yinglan Tan.

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Investment focus

  • Industry: Financial Services, FinTech, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: Indonesia, Singapore, Vietnam

Investor stats

  • Total investments: 122
  • Round size: Seed $50k–$6.5M; Series A $4M–$20M; Series B $12M–$131M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Bloomo Investment — Bloomo Investment is a software company that specializes in the development of smart and fun investment apps.
  • BroilerX — BroilerX is a poultry tech startup offering precision, sustainable, and scalable poultry technology and business to smallholder poultry farmers. By having an extensive poultry farming experience and reliable smart poultry technology, we aim to enhance poultry output and work with the poultry farmers and farming practitioners to understand thechallenges they face then tap into smart technology for solutions. We have been working with poultry farmers on a contractual basis since 2020. We provide smart tech services and technical expertise, as well as live birds and feed supplies, while the poultry farmers provide the labor, housing, and utilities to support the birds. This benefits the farmers because it protects the poultry farmer from the risk of changing market prices for poultry and feed ingredients such as corn and soybean meal, which represents most of the cost of raising poultry and helps keeping the price of nutritious poultry affordable for millions of families and the foodservice industry in Indonesia.We proudly work with thousands of independent poultry farmers every day, bringing quality protein from family farms to family tables.
  • Story Protocol — Story Protocol is building open IP infrastructure to grow the creativity of the internet era.
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K2VC
VC Fund · Beijing, Beijing, China · 4 investments in Asia Retail startups, 13 in the past 12 months

K2VC (Xianfeng Evergreen) was founded in 2010, focused on early stage investment in technology start-ups in China, focus on promoting change and technological progress, innovative business models and lifestyles.

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Investment focus

  • Industry: E-Commerce, Health Care, Software
  • Stage:Series A, Angel, Seed
  • Geography: China, United States, Japan

Investor stats

  • Total investments: 135
  • Round size: Seed $1M–$12M; Angel $412k–$2.7M; Series A $1.4M–$23M
  • Lead/follow: 13% lead, 87% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Spatomics — Spatomics is focusing on creating a cutting-edge multi-omics tool platform for single cells.
  • Aocai — Aocai is an E-commerce company that offers various items.
  • Cornerstone Robotics — Cornerstone Robotics operates to improve the accessibility of high-end medical services in China.
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Meridian Capital
VC Fund · Shanghai, Shanghai, China · 4 investments in Asia Retail startups

Meridian Capital is the leading TMT field of venture capital institution in China. They have a wide range of investment layout in the mobile Internet and media entertainment field and they have a vibrant and experienced investment team.Meridian Capital’s investment area is relatively concentrated, and its investment can be regarded as investmentwithin the industry. They have a wide range of layout-oriented investments in the core areas of industry such as culture and entertainment, consumption upgrades, Internet finance, and enterprise services, with the flow of inputs and realization methods. It has a clear view of development in the industry and sub-industries. Social, online-business, education, health care, real-estate, car business, digital reading, digital marketing, music, film and television, games, entertainment community and etc, industrial cluster effect is obvious.Since its inception in 2008, Meridian Capital is committed to focusing on investment in culture new media fields, currently it is mainly concerned with culture entertainment, consumption upgrading, Internet finance, and corporate service fields, it has issued 5 RMB funds, and 2 Singapore currency funds, whose total management size topped RMB 5 billion yuan, more than 100 Internet startup enterprises are its beneficiaries. Meridian Capital’s concern for culture new media field is consistently prominent.

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Investment focus

  • Industry: Internet, Software, Information Technology
  • Stage:Series A, Angel, Series B
  • Geography: China, Latvia, Seychelles

Investor stats

  • Total investments: 110
  • Round size: Angel $412k–$8.2M; Series A $412k–$15M; Series B $2.7M–$55M
  • Lead/follow: 41% lead, 59% follow

Portfolio highlights

  • Stardust.AI — Stardust is a company built by machine learning experts to provide one-stop training data solutions for AI modeling and applications. Its services include image/video annotation, audio transcription, as well as OCR recognition. Stardust built highly optimized production lines for various application scenarios like autonomous driving, facialrecognition, NLP, search relevance, and chatbot to name a few. Stardust have proudly served world-class companies and educational institutions like Tencent, Baidu, Face++, Xiaomi, CUHK, Huazhong University of Science and Technology, etc.
  • Hi after school — Hi after school is an interactive entertainment and performance company.
  • Yuanlian Technology — Yuanlian Technology is an industrial internet platform that provides integrated infrastructure for localized intelligent manufacturing.
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Share Capital
VC Fund · Shenzhen, Guangdong, China · 4 investments in Asia Retail 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: Medical, Health Care, Biotechnology
  • Stage:Series A, Series B, Angel
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 72
  • Round size: Angel $412k–$824k; Series A $1.4M–$10M; Series B $2.7M–$55M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Clounix — Clounix manufactures customizable silicon network chips and cloud native software technology solutions.
  • Jodell Robotics — Jodell develops intelligent robotic equipment designed to serve in automotive and logistics industries.
  • Help Stem Cell Innovations — 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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Alibaba Group
VC Fund · Hangzhou, Zhejiang, China · 4 investments in Asia Retail startups, 10 in the past 12 months

Alibaba Group’s mission is to make it easy to do business anywhere. They enable businesses to transform the way they market, sell, operate, and improve their efficiencies. They provide the technology infrastructure and marketing reach to help merchants, brands, and other businesses to leverage the power of new technology to engage with theirusers and customers and operate in a more efficient way.Their businesses are comprised of core commerce, cloud computing, digital media and entertainment, and innovation initiatives. In addition, Ant Financial, a company in which they have agreed to acquire a 33% equity stake, provides payment and financial services to consumers and merchants on their platforms. An ecosystem has developed around their platforms and businesses that consists of consumers, merchants, brands, retailers, other businesses, third-party service providers, and strategic alliance partners.

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Investment focus

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

Investor stats

  • Total investments: 167
  • Round size: Series A $1.4M–$600M; Series B $6M–$300M; Series C $17M–$400M
  • Lead/follow: 67% lead, 33% follow
  • Last fund: May invest from a new fund soon — last raise in 2015

Portfolio highlights

  • Mirauge3D — Mirauge3D is a fully automatic, efficient, 2D and 3D integrated image intelligent modeling system. They offer software that supports multi-core parallel processing architectures and GPU cluster computing.
  • Lazada Group — Lazada is the number one online shopping and selling destination in Southeast Asia – present in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Lazada helps more than 100,000 local and international sellers, as well as 2,500 brands, serve the 560 million consumers in the region through its marketplace platform, supportedby a wide range of tailored marketing, data, and service solutions. Lazada offers an excellent customer experience through a wide network of logistics partners and it's own first- and last-mile
  • Hengyu Medical — Hengyu Medical is a medical device firm focused on R&D and production of IVUS and optical coherence tomography, and catheter equipment.
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GSR Ventures
VC Fund · Palo Alto, California, United States · 4 investments in Asia Retail startups, 25 in the past 12 months

GSR Ventures is a venture capital firm focused on early-stage technology companies developing AI-enabled enterprise software, consumer platforms, and healthcare technology.The firm backs entrepreneurs building disruptive businesses that have the potential to dominate multi-billion dollar markets. GSR Ventures currently manages about $3 billionacross its funds.

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Investment focus

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

Investor stats

  • Total investments: 273
  • Round size: Seed $1.6M–$7M; Series A $2.7M–$25M; Series B $10M–$74M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • ZetaChain — An EVM-compatible L1 blockchain that connects everything: Build interoperable dApps that span any chain including Bitcoin, access all chains from one place.
  • Orbital — We bridge the gap between traditional and crypto financial solutions, providing a regulated, secure and frictionless experience for global businesses.
  • Mindigital Group — Mindigital is a leading global Fintech firm specialzing in providing Banking As A Service to local institutions in each country. We have served clients from different continents in countries including US, Spain, Brazil, China, India, Indonesia, Pakistan, Philippines and Vietnam. Mindigital has consistently helped our partners to upgrade theirdigital infrastructure, improve profit , control risk and save operation cost.
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Alpha JWC Ventures
VC Fund · Jakarta Pusat, Jakarta Raya, Indonesia · 4 investments in Asia Retail startups

Alpha JWC Ventures is an Indonesia-focused value-adding venture capital firm with expertise in FinTech and the Consumer tech sector. Alpha JWC Ventures is an independent and institutional firm that believes in investing in a disciplined manner combined with an active portfolio management approach. The firm was founded in 2015 and is based inJakarta Pusat, Jakarta Raya, Indonesia.

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Investment focus

  • Industry: E-Commerce, Information Technology, Financial Services
  • Stage:Seed, Series A, Series B
  • Geography: Indonesia, Singapore, Vietnam

Investor stats

  • Total investments: 99
  • Round size: Seed $1.5M–$8M; Series A $3.5M–$40M; Series B $14M–$131M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • KarirLab — Cari kerja dan magang, buat resume ATS-friendly, evaluasi resume oleh ahli, dan ikuti webinar persiapan kerja #MulaidariKarirLab
  • Mythic Protocol — Mythic Protocol is an entertainment company that develops games, media and platforms.
  • Venti Technologies — Venti Technologies is a safe-speed autonomous vehicles developer company.
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Plum Ventures
VC Fund · Changzhou, Zhejiang, China · 4 investments in Asia Retail startups

Plum Ventures is a venture capital company that aims to encourage young people to become entrepreneurs. It specializes ins providing seed and early-stage investments in the technology, new media, and telecommunications industry. The firm was founded in May 2014 and is based in Changzhou, China.

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Investment focus

  • Industry: Software, E-Commerce, Internet
  • Stage:Angel, Series A, Seed
  • Geography: China, United States, Japan

Investor stats

  • Total investments: 147
  • Round size: Seed $1.4M–$6.9M; Angel $412k–$4.1M; Series A $1.4M–$16M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • PINPHON — PINPHON is an industrial and commercial energy storage equipment research and development and energy storage system solution provider.
  • Mobi Youchuang — Mobi Youchuang is an online electronic mall platform. They offer household and daily necessities. Their services include a shopping guide and after-sales service.
  • Guangyin Technology — Guangyin Technology focuses on the research and development and production of perovskite photovoltaics. Guangyin Technology provides low-cost renewable and clean energy solutions.
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Hejun Capital
VC Fund · Beijing, Beijing, China · 4 investments in Asia Retail startups

Hejun Capital is a private equity and venture capital firm.

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Investment focus

  • Industry: Food and Beverage, Information Technology, E-Commerce
  • Stage:Angel, Series A, Series B
  • Geography: China

Investor stats

  • Total investments: 48
  • Round size: Angel $275k–$2.7M; Series A $1.4M–$5.5M; Series B $2.7M–$69M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Kitchen core — Chu Xin was founded in 2016 to focus on the intelligence of the kitchen, and is dedicated to building a clean and hygienic kitchen brand for the restaurant chain.The intelligent dishwasher can complete the cleaning, disinfection and drying process in one minute.The core of the kitchen core smart dishwasher is "technology-driven + machinenetworking", by introducing artificial intelligence and data monitoring into the tableware cleaning scene Distinguish a single inefficient dishwashing process for manual dishwashing, and integrate "high-pressure stain removal, three-dimensional washing, intelligent temperature sterilization, and full-dimensional drying" into one linkComplete the cleaning, sterilization and drying process in one minute, and the tableware is washed and used immediately, which greatly improves efficiency and ensures cleanliness and hygiene. At the same time, distinguishing traditional dishwashers, the kitchen core applies cutting-edge Internet of Things and big data technologies to continuously improve the standard and experience of smart cleaning services.
  • Yunwujie — Yunwujie is a provider of trading platform and SaaS management. It focuses on cross-border e-commerce logistics industry, provide trading platform + SaaS management.
  • Shishilian — Shishilian provides agricultural products such as mushrooms, vegetables, meat, fish, flowers, fruit, grains, tea, coffee, seafood, and alcoholic beverages.
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SIG China (SIG Asia Investments)
VC Fund · Shanghai, Shanghai, China · 4 investments in Asia Retail startups

SIG's China venture capital and private equity activities are operated through SIG Asia Investments, LLLP (SAI) and its wholly foreign owned enterprise (WFOE) based in Shanghai with a branch office in Beijing. The SIG China team seeks to commit the firm’s capital to venture capital and private equity investments in China.SAI is a member ofthe Susquehanna International Group of companies (SIG), which has evolved over the past 20+years into a leading financial institution focusing on trading and market making, institutional sales and research, private equity, and venture capital. With more than 1,400 employees across offices worldwide, SIG’s professionals develop ideas in an entrepreneurial environment, taking full advantage of SIG’s cutting edge technology and quantitative research.SIG is committed to expanding its global businesses in China. As part of that effort SAI has been mandated to commit SIG's proprietary capital in VC and PE investments in companies operating in the PRC.

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Investment focus

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

Investor stats

  • Total investments: 193
  • Round size: Series A $3.1M–$40M; Series B $10M–$100M; Series C $25M–$100M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: May invest from a new fund soon — last raise in 2009

Portfolio highlights

  • Insgeek — Insgeek is a one-stop service platform for corporate employee welfare insurance and health management. It is committed to providing intelligent employee benefits insurance and health management solutions through technological innovation. It integrates the products of various insurance companies, covering accidents, female births, and criticalillnesses, and provide a variety of cost-effective protection combinations.Founded in 2014, the company is headquartered in Beijing, China and currently has branches in Shanghai, Guangzhou, Wuhan, Xi'an, and other places, covering the whole country.
  • RapidBox — Rapidbox is ecommerce website for footwear and fashion accessories
  • Enjoy Shop — Enjoy Shop is a franchise chain one-stop collaboration empowerment platform to help brands improve the efficiency of franchise management.
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Global Founders Capital
VC Fund · Berlin, Berlin, Germany · 4 investments in Asia Retail startups, 36 in the past 12 months

Over the past two decades, GFC have backed over five hundred entrepreneurs worldwide, e.g. Facebook, LinkedIn, Slack, and Away Travel.

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Investment focus

  • Industry: Financial Services, Software, FinTech
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Germany, United Kingdom

Investor stats

  • Total investments: 751
  • Round size: Seed $1.1M–$7.2M; Pre-Seed $725k–$5M; Series A $3.3M–$30M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Kaso — Elkaso is the leading Order and Procurement Management Tool for Restaurants and Suppliers in the Middle East.
  • Momento — Momento is an insurtech company with the objective of revolutionizing the insurance industry in Latin America, starting with car insurance. We want to make insurance easy and accessible for the underserved population in LATAM.
  • Equilibrium Energy — Equilibrium Energy operates at the intersection of grid variability, market volatility, economic optimization, commercial structuring, trading, and risk management, across the end-to-end power value chain. Their ambition is to become a next-generation clean power company that reshapes the energy industry. They address inquiries through onlineapplications.
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Sinovation Ventures
VC Fund · Beijing, Beijing, China · 3 investments in Asia Retail startups, 17 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 201
  • Round size: Seed $770k–$7.8M; Series A $1.4M–$27M; Series B $10M–$110M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • MetaCene — MetaCene is a blockchain company that aims to create an accessible Web3 world for the masses, with a focus on player-centric entertainment.
  • Ruishi Technology — Ruishi Technology develops Myopia prevention and control medical devices.
  • True Talents For China (TTC) — True Talents For China (TTC) is a digital and intelligent professional talent service company that provides digital platforms, business platforms, data platforms, enterprise cloud services, and other services.
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Chuxin Capital
VC Fund · Beijing, Beijing, China · 3 investments in Asia Retail startups

Chuxin Capital is an early-stage fund that actively deploys emerging formats centered on technology and consumption upgrades. It specializes in early-stage investments into companies within the enterprise services, technology, entertainment, and consumer products and services industries.Chuxin Capital was established in 2015 and is headquarteredin Beijing, China.

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Investment focus

  • Industry: E-Commerce, Information Technology, Internet
  • Stage:Angel, Series A, Seed
  • Geography: China, Hong Kong

Investor stats

  • Total investments: 37
  • Round size: Angel $412k–$4.1M; Series A $412k–$40M
  • Lead/follow: 14% lead, 86% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • QuickCEP — QuickCEP is a one-stop SaaS platform for cross-border e-commerce.
  • BoundaryX — BoundaryX is a network security firm that gives cloud security protection products, top-level offensive and defensive system construction.
  • Smartway — Smartway is a high-tech enterprise that focuses on research and development, production & sales of flexible organic light-emitting materials & packaging materials.
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GF Xinde Investment Management
VC Fund · Guangzhou, Guangdong, China · 3 investments in Asia Retail startups

GF Xinde Investment Management Co., Ltd. was established in 2008 through the approval of the China Securities Commission on Direct Investment, with registered capital of RMB 2.3 billion. GF Xinde is one of the leading direct investment brokerages in China. Through a deep understanding of capital markets, known for integrity, professionalservice, and possessing an abundance of industry resources; GF Xinde not only provides strong financial support to investing corporations, but imparts a wealth of advanced management experience and access to a national business network. Supported by the comprehensive strengths of GF Securities, GF Xinde will assist the invested enterprise with establishing a strategic, long-term plan for growth by increasing their management efficiency, building the ideal capital structure, and a strong platform necessary for a successful IPO. All possible types of investments, merger and acquisitions, business, and technical cooperation opportunities will be provided for the invested enterprise. This will ensure the mutual benefits of both the Company and the invested enterprise are financially sound and increase the overall investment value through business synergies.As a direct investment brokerage, GF Xinde provides distinct advantages in regards to investment resources, market research, professional expertise, mergers and acquisitions and IPO experience. As of December 2014, GF Xinde’s accumulated total assets under management exceeded RMB 5 billion, with 16 successful IPOs, ranking first amongst the industry in both scale and number of successful public offerings.Currently, the Company has successfully created a number of diverse management funds: mezzanine funds, merger and acquisition funds, private equity funds, and other investment funds, covering but not limited to a wide range of industries, such as medicine, consumer stocks, and the internet.

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Investment focus

  • Industry: Manufacturing, E-Commerce, Information Technology
  • Stage:Series A, Series B, Angel
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 94
  • Round size: Angel $412k–$1.4M; Series A $1.4M–$25M; Series B $2.7M–$56M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — last raise in 2016

Portfolio highlights

  • InventChip — Inventchip provides power conversion solutions based on SiC power devices, SiC driver IC and SiC power modules. Applications: Wind Inverter, PV Inverter, Industrial Power Supply、 HEV/EV, Motor Drive, Charging Pile and other fields, and many.
  • GenScript ProBio — GenScript ProBio is a one-stop biopharmaceutical R&D and production platform. It provides end-to-end services for cell and gene therapy drugs, vaccine and biopharmaceutical discovery, antibody protein drugs.
  • Xincheng Semiconductor — Xincheng Semiconductor manufactures integrated circuit packaging substrates. Semiconductor is a provider of integrated circuit packaging substrate solutions. It focuses on the research and development and mass manufacture of high-density flip-chip packaging substrates, filling a gap in domestic high-end substrates and assisting the domesticsemiconductor industry chain in becoming autonomous and controllable.
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QF Capital
VC Fund · Shenzhen, Guangdong, China · 3 investments in Asia Retail startups, 9 in the past 12 months

QF Capital is a fund management company that focuses on private equity investments.

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Investment focus

  • Industry: E-Commerce, Internet, Software
  • Stage:Series A, Angel, Seed
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 104
  • Round size: Seed $1.4M–$10M; Angel $412k–$1.5M; Series A $1.4M–$15M
  • Lead/follow: 46% lead, 54% follow

Portfolio highlights

  • Yunshuo IoT — Yunshuo IoT provides artificial intelligence industrial application services ranging from decision-making monitoring to product development. Yunshuo IoT products are applicable to ships, rail transit, automobiles, home appliances, and heavy equipment.
  • Yunchuang Shuan — Yunchuang Shuan focusing on "lightweight, one-click deployment, one-click compliance" security products offers integrated data security solutions for enterprises.
  • Qianhai Yueshi Information Technology — Qianhai Yueshi is a heavy vertical service provider in China's cold chain industry. The company is committed to building an artificial intelligence cold chain supply chain management platform, empowering the cold chain supply chain industry ecology with technology, and improving the comprehensive services of my country's cold chain supplychain industry as a whole Ability and efficiency. Recently completed 390 million yuan of A round of financing, venture workshop, Qifu Capital, Zijingang Investment, Wanxing Venture Capital, Jinzheng Shares, Changhe Capital, Tuohua Capital, and Chuanwazi founder Tang Lei jointly invested. Extreme Capital acted as financial advisor.
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Mizuho Capital
VC Fund · Tokyo, Tokyo, Japan · 3 investments in Asia Retail startups, 11 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 263
  • Round size: Series A $7.8M–$130M; Series B $25M–$343M
  • Lead/follow: 2% lead, 98% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • Funds — Funds is an online marketplace for lending funds.
  • Bloomo Investment — Bloomo Investment is a software company that specializes in the development of smart and fun investment apps.
  • LexxPluss — LexxPluss develops an automatic transfer software system and robot hardware.
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Ping An Ventures
VC Fund · Pudong, Shandong, China · 3 investments in Asia Retail startups

Ping An Ventures is a professional VC under Ping An Insurance (Group) Company of China, Ltd. with focused interest in start-ups of emerging innovation. It is committed to growing with the partners and driving success by provision of both funds and managerial expertise, resources and a platform."

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Investment focus

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

Investor stats

  • Total investments: 86
  • Round size: Angel $412k–$1.6M; Series A $412k–$76M; Series B $3.5M–$96M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Xiaoqule — Xiaoqule (Happy Community) is a Chinese community-focused e-commerce platform. It is a subsidiary of Gejia.Xiaoqule helps local businesses provide cost-effective products and services to the local community. On the platform, the consumer can order food such as seasonal fruits and vegetables from local businesses. Xiaoqule connects localbusinesses with local consumers, which shortens transportation time and maintains quality of goods. Xiaoqule also serves as a logistical company, providing transportation, technology, marketing and customer support.
  • Zhangshang Tangyi — Zhangshang Tangyi is a health management platform with a focus on diabetes. It allows patients to upload their own health data to their mobile app and receive treatment guidance from doctors. Zhangshang Tangyi was founded in 2014 and is based in Hangzhou, Zhejiang.
  • Xgene Pharmaceutical — Xgene Pharmaceutical is a pharmaceutical company.
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K3 Ventures
VC Fund · Singapore, Central Region, Singapore · 3 investments in Asia Retail startups, 6 in the past 12 months

K3 Ventures provides venture capital for technology startups in various sectors such as finance, education, healthcare, food and agriculture and others. The firm is headed by Kuok Meng Xiong.

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Investment focus

  • Industry: Financial Services, FinTech, Software
  • Stage:Series A, Seed
  • Geography: Singapore, United States, Indonesia

Investor stats

  • Total investments: 85
  • Round size: Seed $874k–$20M; Series A $2M–$100M
  • Lead/follow: 8% lead, 92% follow

Portfolio highlights

  • Abound — Fintern is a lending startup looking to offer an AI-driven alternative to costly payday loans. It aims to expand access to low-cost personal credit by using the UK’s new Open Banking standard to analyze consumers’ historical bank statement data. Open Banking data allows us to build a granular view of customers’ financial circumstances, properlyunderstand their affordability, and place less reliance on credit reference agency scores.The company was founded in 2020 and is based in London, United Kingdom.
  • Sending.Me — SendingMe is Web3 native community chat software that engages, transacts, and compensates users.
  • Fable Food — Noun - A tasty story with animals as characters, not dishes . Open your eyes to the incredible taste, texture and goodness of Fable.
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Magic Capital
VC Fund · Shanghai, Shanghai, China · 3 investments in Asia Retail startups

Magic Capital is an investment firm focused on supporting Chinese Internet companies. The company's founders are working cross a broad range of sectors, from education to media to healthcare to SaaS to AI to e-commerce to game to social networking service.

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Investment focus

  • Industry: Apps, Education, Internet
  • Stage:Series A, Angel, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 30
  • Round size: Seed $137k–$3M; Angel $412k–$8.3M; Series A $2.7M–$14M
  • Lead/follow: 17% lead, 83% follow
  • Last fund: May invest from a new fund soon — raised $13M in 2009

Portfolio highlights

  • Weiming Smart — Weiming Smart is a technology company focused on machining intelligent manufacturing.The company is deeply involved in the precision processing industry, creatively integrating production management software and Internet platform technology into production management, building a comprehensive data information system on the production sitethrough equipment networking and data collection, and combining sensors, edge computing, cloud computing, and other technologies.
  • Grand Voyage Holdings — A Globe Online Shopping Marketplace/ Known as Frissonlife
  • APstem Therapeutics, Inc. — With APstem Therapeutics’ breakthrough discovery of Adult Pluripotent Stem Cells (APSCs™), we are on a mission to eradicate difficult-to-heal diseases and conquer the challenges of aging.
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Crystal Stream Capital
VC Fund · Beijing, Beijing, China · 3 investments in Asia Retail startups

Crystal Stream Capital specializes in making early-stage investments in the technology, media, and telecommunications sector.

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Investment focus

  • Industry: E-Commerce, Fashion, Internet
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Egypt

Investor stats

  • Total investments: 63
  • Round size: Seed $1.6M–$2.9M; Series A $1.4M–$15M; Series B $6.9M–$30M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Huang Xiaozhu — Huang Xiaozhu is a convenient fresh food brand that is positioned to cut from Chinese fresh porridge, integrate modern processing and production and patented fresh-keeping technology, to provide young consumers with convenient, healthy and nutritious "light cooking" fresh food. Huang Xiaozhu has now developed four light luxury series ofporridge products, including abalone seafood porridge, bird's nest and white fungus porridge, ginseng chicken porridge, sea cucumber millet porridge, and plans to go online in early April.
  • Qiutian Manman — Qiutian Manman is a professional brand engaged in developing nutritious food for babies and children, sets a “daily dietary nutrition clock” for babies and children, and assists parents to establish a new concept of nutritious meals for their offspring. The brand offers nutritious products designed for breakfast, lunch, and dinner, as well asnutritional supplements for the morning and afternoon, in a bid to guarantee babies and children aged 3-12 can have a reasonable intake of nutrition 24 hours a day to ensure their healthy growth every day.
  • Joes Future Food — Joes Future Food develops, manufactures, tests, and sells raw and auxiliary materials for food and biological products. Founded in 2019.
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Kickstart Ventures
VC Fund · Makati, Manila, Philippines · 3 investments in Asia Retail startups

We invest in early- to growth-stage start-ups who offer solutions to existing pain points and provide forward-looking innovations that will help shape the future we believe in.

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Investment focus

  • Industry: E-Commerce, Software, Financial Services
  • Stage:Seed, Series A
  • Geography: Philippines, Singapore, United States

Investor stats

  • Total investments: 41
  • Round size: Seed $30k–$550k; Series A $4.5M–$10M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — last raise in 2015

Portfolio highlights

  • SariSuki — SariSuki is a community selling platform that helps you become an online neighborhood grocery store.
  • PickUp Coffee — PickUp Coffee is a start-up that aims to increase the accessibility of espresso and milk-based beverages. PickUp Coffee is located in Taguig, Philippines.
  • Transcelestial Technologies — Secure, last mile connectivity with fiber-like speeds using next gen Wireless Fiber Optics or Lasercomms, at a fraction of the deployment time and cost of fiber.
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Joy Capital
VC Fund · Changyang, Beijing, China · 3 investments in Asia Retail startups

JOY CAPITAL invests in startups of both early and growth stages and focuses on TMT and innovative consumption sectors. “Do Hard Things with JOY”. JOY CAPITAL keeps partnering with entrepreneurs for helping them make right decisions at key moments during a startup’s developments and sharing the hardship and joy with them while starting theirbusiness. Founding partners of JOY CAPITAL have invested in more than 80 startups and over 10 portfolios they’ve invested in are unicorns.

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Investment focus

  • Industry: E-Commerce, Food and Beverage, Software
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Israel

Investor stats

  • Total investments: 95
  • Round size: Series A $1.4M–$39M; Series B $10M–$150M; Series C $50M–$500M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: Likely still investing — raised $549M in 2022

Portfolio highlights

  • Qidi — The foundation of digital industries such as 5G, artificial intelligence, and big data has rapidly evolved, as have the underlying technologies for smart glasses such as displays, interaction, algorithms, and computing power.
  • Legend Energy — Legend Energy provides clean, low-carbon, safe, and efficient smart energy storage products and solutions.
  • Qidi Technology — QIDI Tech is an advanced 3D printer company that able to manufacturing a full series of high-quality FDM printer. X-Max3,X-Plus3,X-Smart3 High Speed Printers New Released. Biger build volume, Faster Speed, High-Flow,Firmware:Klipper. Controlled Temperature Chamber And Drying Box,Independent Heating.
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Vertex Ventures Southeast Asia & India
VC Fund · Singapore, Central Region, Singapore · 3 investments in Asia Retail startups

Vertex Ventures Southeast Asia and India invests in high-growth start-ups seeking their first round of institutional venture capital funding in Southeast Asia and India, with a primary focus on Singapore, India, Indonesia, Thailand and other emerging hubs of innovation across the region. It has a long and strong track record of investing in early-stage startups and building champions like Grab, Patsnap, 17Live, Nium, FirstCry, Licious, AsianParent, Validus, Warung Pintar, and others.

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Investment focus

  • Industry: E-Commerce, FinTech, SaaS
  • Stage:Series A, Series B, Seed
  • Geography: India, Singapore, Indonesia

Investor stats

  • Total investments: 94
  • Round size: Seed $1.5M–$5.5M; Series A $3.3M–$14M; Series B $6.4M–$45M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Speedoc — Speedoc is an industry leader in the digital health space with a mission to provide accessible and affordable healthcare to patients. As a virtual clinic and hospital care provider combining physical-digital services to challenge the traditional centralized, facility-based model, Speedoc believes that this will be the solution to the agingpopulation faced by many countries in the region as the demand for medical care increases. Their services include house call doctors, nurses, medications delivery; and is complemented by telemedicine, remote diagnostics and health monitoring. With Speedoc, home medical services need not be limited to only certain groups of patients, but to everyday people who may require GP or A&E visits for themselves or their loved ones.
  • Fairatmos — Create your Green House Gasses sequestration project proposal, verify for credits, support projects and buy credits all in one platform.
  • Validus — Validus offers fast SME working capital loan in one day, free SME business account for growing businesses and startups, and instant corporate debit cards.
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Saison Capital
VC Fund · Singapore, Central Region, Singapore · 3 investments in Asia Retail startups, 14 in the past 12 months

They invest in Seed to Series A companies across South East Asia and India. Although they have a sector agnostic fund mandate, they particularly like to work with founders that are building ecosystems with the potential to distribute financial services to the unbanked.

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Investment focus

  • Industry: Financial Services, FinTech, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Singapore, Indonesia, Philippines

Investor stats

  • Total investments: 60
  • Round size: Seed $1.8M–$9M; Pre-Seed $1.5M–$6M; Series A $10M–$16M
  • Lead/follow: 20% lead, 80% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • HELIX — Gain access to curated alternative investment opportunities and make your crypto do more today. Helix is an accredited marketplace utilising blockchain technology to provide access to off-chain private credit in emerging markets.
  • Cryptoworth — Cryptoworth is a cryptocurrency solution and consultancy company working hard at the intersection of cryptocurrencies, blockchains, business and people to better-serve the fin-tech industry. Cryptoworth was created to reduce the complexity of cryptocurrency adoption, usage, and management. Cryptoworth provides the best cryptocurrency and blockchainsolutions for use cases spanning from single users to large institutions.
  • Mythic Protocol — Mythic Protocol is an entertainment company that develops games, media and platforms.
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MindWorks Capital
VC Fund · Central, Hong Kong Island, Hong Kong · 3 investments in Asia Retail startups

Founded in 2013, with an AUM of over $700 million, MindWorks Capital invests in early-stage Pan-Asia venture capital across Greater China and Southeast Asia. In Greater China, MindWorks' emphasis is on seeking innovative and disruptive companies, taking technology and business model risk, typically at Series A. In Southeast Asia, the emphasisis on investing in proven business models from the West and China, typically at Series B. MindWorks' investment thesis and outlook are theme-based and continually revised on a six-month basis, with the current target sectors including logistics, fintech, and enterprise tech.MindWorks has a team of 12 investment professionals across three offices including Hong Kong, where it is headquartered, Beijing, and Jakarta. The team often provides value-add to its portfolio companies, including helping businesses to scale, forming partnerships, and acquiring follow-on funding from strategic investors.

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Investment focus

  • Industry: Financial Services, FinTech, Logistics
  • Stage:Seed, Series A, Series B
  • Geography: Hong Kong, China, United States

Investor stats

  • Total investments: 59
  • Round size: Seed $500k–$15M; Series A $1.4M–$10M; Series B $5M–$150M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely still investing — raised $250M in 2022

Portfolio highlights

  • Finture — Finture is the first Neobanking fintech company to provide Credit card and Credit payment business in SEA
  • Jumppoint — Founded in Hong Kong since 2020, Jumppoint developed in house its own multi-layer dynamic routing algorithm, jumppoint.ai, to offer highly efficient yet cost-saving logisitics services to B2B and B2C users, with real-time logisitcs data embeded. Beyond Hong Kong headquarters and R&D centre, Jumppoint also has extensive presence in Asia suchas Kuala Lumpur, Taipei and Southeast Asia headquarters, Singapore, providing localised logsitics services.
  • Sending.Me — SendingMe is Web3 native community chat software that engages, transacts, and compensates users.
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Vertex Ventures
VC Fund · Palo Alto, California, United States · 3 investments in Asia Retail startups, 7 in the past 12 months

Vertex US is an early stage VC that backs fearless founders building a smarter digital economy through B2B software.

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Investment focus

  • Industry: Software, Information Technology, E-Commerce
  • Stage:Series A, Series B, Series C
  • Geography: United States, China, Israel

Investor stats

  • Total investments: 352
  • Round size: Series A $2M–$28M; Series B $4.7M–$41M; Series C $8.9M–$100M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • CloseFactor — CloseFactor uses machine learning to reimagine the business to business sales process, bringing the benefits of greater automation and precision targeting to sales teams.
  • ElevateBio — We provide the tools, time, and environment to innovate and accelerate development of life-saving Cell and gene therapies.
  • Ledge — Automate your finance operations with Ledge and gain full payments visibility, automated reconciliation, and a single source of payments truth. Say goodbye to manual work and financial data chaos. Get started in minutes, integrate with your existing payments stack, and focus on strategic tasks with confidence.
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Mitsubishi UFJ Capital
VC Fund · Tokyo, Tokyo, Japan · 3 investments in Asia Retail startups, 8 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 253
  • Round size: Series A $11M–$96M; Series B $12M–$330M
  • Lead/follow: 3% lead, 97% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • GITAI — GITAI is a robotics startup for space development. The company aims to replace astronauts with robots that can work for a long time while being remotely controlled from earth while in low earth orbit space stations to decrease the burden on astronauts, shorten the time it takes to perform work in space, and reduce costs.
  • Vark — ActEvolve develops Blitz Freak, a multi virtual reality game. It began operation in 2017, with its headquarters in Tokyo in Japan.
  • LexxPluss — LexxPluss develops an automatic transfer software system and robot hardware.
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Gaorong Capital
VC Fund · Wangjing, Beijing, China · 3 investments in Asia Retail startups, 14 in the past 12 months

Investors of Gaorong Capital include world-class sovereign wealth funds, university endowment funds, family foundations, pension funds and fund of funds, as well as successful entrepreneurs, including founders and managements of Tencent, Alibaba, Baidu, JD, Xiaomi, Focus Media and VIPShop. They will provide with valuable industry resources,entrepreneurial experience, and global perspectives.

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Investment focus

  • Industry: Software, E-Commerce, Information Technology
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 201
  • Round size: Series A $2.7M–$69M; Series B $14M–$100M; Series C $28M–$500M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2020

Portfolio highlights

  • MKSEMI — MKSEMI is a low-power ultra-wideband (UWB) company, provides a complete high precision location solution for device OEMs and ODMs.
  • Cholesgen — Cholesgen is a biopharmaceutical company dedicated to developing original innovative drugs. The company focuses on new disease targets based on biochemistry, disease biology, medicinal chemistry, and clinical translational medicine.
  • Lattice Microelectronics — Lattice Microelectronics promote the design and development, module manufacturing and vehicle application of power semiconductors.
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Volcanics Venture
VC Fund · Changning, Shanghai, China · 3 investments in Asia Retail startups

Volcanics Venture was founded in May 2016. They identify, invest in, and serve the most promising companies and outstanding entrepreneurs in Internet Innovation, Intelligent Technology and Healthcare industry. Managing Partners Suyang Zhang, Yeshun Dong and Ying Wu have been working closely for years as first-class USD/RMB fund managers.They have more than 60 years of aggregated VC investment and corporate management experience, as well as in-depth understanding of three focused fields. Volcanics Venture brings a powerful combination of global perspective and local experience to investment management, striving to provide sustainable value-added service to their portfolio companies and bring superior return to their limited partners.

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Investment focus

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

Investor stats

  • Total investments: 84
  • Round size: Seed $350k–$14M; Series A $1.4M–$14M; Series B $5.5M–$30M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Fabrie — Fabrie develops collaboration tool for designers that has functions such as multi-person collaboration, table and diagram association, cloud storage and sharing.
  • Aiagain — Aiagain is the provider of an online WeChat management platform for WeChat sellers.
  • Fengtai Technology — Focusing on industrial information security, Fujian and Taiwan technology mainly provides professional, standard chemical control safety consulting and evaluation services to ensure information security of key industrial information infrastructure and improve security protection solutions. It mainly serves the government, industry customers, designinstitutes, research institutes, institutes, integrators and hardware and software manufacturers. Through visual, process and customized tools and methods, it helps users to carry out effective risk management and reliable operational support. .
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Hillhouse Capital Group
VC Fund · Changyang, Beijing, China · 3 investments in Asia Retail startups, 16 in the past 12 months

Hillhouse Capital Group is an investment management firm that invests with a long-term time horizon. Hillhouse owns companies across equity stages, spanning the range from new start-ups to the world’s most established public companies. It may invest in a company as a start-up and continue to hold it in the portfolio as a public equity investment.This stage-agnostic investment style allows them to focus on multi-year results, rather than on quarterly earnings.Hillhouse Capital Group invests globally, with a particular focus on Asia. Independent, proprietary research lies at the heart of our investment process. Our team members are sector experts in consumer, Internet, media, and healthcare. Hillhouse Capital Group was founded in 2005 and is based in Beijing, China.

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Investment focus

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

Investor stats

  • Total investments: 312
  • Round size: Series A $1.4M–$120M; Series B $14M–$230M; Series C $14M–$310M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Immorna — Immorna specializes in the production of RNA-based therapeutics.
  • Xingmai Innovation — Xingmai Innovation creates, develops, and sells intelligent swimming pool cleaning robots.
  • Deep Vision Intelligence — Deep Vision Intelligence is a developer of embedded machine vision products.
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Century Oak Capital
VC Fund · Vaduz, Vaduz, Liechtenstein · 3 investments in Asia Retail startups

Century Oak Capital GmbH is a venture capital firm specializing in early-stage investments in Europe and Emerging Markets.

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Investment focus

  • Industry: Retail, E-Commerce, Software
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Pakistan, Kenya, Switzerland

Investor stats

  • Total investments: 21
  • Round size: Seed $600k–$2.6M; Pre-Seed $750k–$1M; Series A $5M–$37M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Unbox — Unbox is the branded commerce operating system for SMEs helping them to sell online and increase their sales. We provide a ready to sell platform that allows entrepreneurs to digitize their business in less than 5 minutes - fully integrated with social commerce channels and our payment and shipping solutions, helping SMEs to save costs andcentralizing sales into a single platform.
  • SnappRetail — SnappRetail aims to create the largest virtual retail franchise across Pakistan, through deployment of its POS hardware/software, focusing on:1. Traditional trade Analytics for brands and retailers 2. Order Aggregation for manufacturers and distributors 3. Payment Solution for customers 4. Fintech enablement for small merchantsTheSnappRetail POS application has been carefully curated keeping the retailer in mind, the application focuses on digitizing his shop operations and cash flow and creating a real-time tertiary sales data lake.
  • Dastgyr Technologies — Making trade and capital seamless and reliable
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Gentree Fund
VC Fund · 3 investments in Asia Retail startups

Gentree Fund is a VC Fund for Philippine startups that invests in early and growth stage, providing startup funding and key connections of Sy family principals.

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Investment focus

  • Industry: Retail, Food and Beverage, E-Commerce
  • Stage:Seed, Series A
  • Geography: Philippines, Indonesia

Investor stats

  • Total investments: 9
  • Round size: Seed $1M–$3M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Elfie — We fight high blood pressure and increase treatment adherence by rewarding patients for self-monitoring. World #1 app for hypertension. Download now.
  • PickUp Coffee — PickUp Coffee is a start-up that aims to increase the accessibility of espresso and milk-based beverages. PickUp Coffee is located in Taguig, Philippines.
  • Fit Hub Indonesia — Fit Hub Indonesia is a Health & Wellness Startup in Indonesia.
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OTB Ventures
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 3 investments in Asia Retail startups

OTB Ventures is a venture capital fund investing in technology with unique IP, links to the CEE region. OTB Ventures typically provides series A funding to empower and support talented entrepreneurs to scale their businesses, while keeping the focus on technology advancement. It was founded in 2017 and headquartered in Amsterdam, Noord-Holland.

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Investment focus

  • Industry: Artificial Intelligence, Software, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: United States, United Kingdom, Singapore

Investor stats

  • Total investments: 29
  • Round size: Series A $3.2M–$15M; Series B $8.8M–$40M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • Veridion — Soleadify provides business data enrichment with unprecedented coverage of SMBs, accurate classification and in-depth insights based on real-time updates.Always driven by the complexity of AI and Machine Learning, we build more efficient ways of getting more data and get more out of it. Urged on reliability and complete-ness, our datasets haveyet to be beaten in terms of accuracy and classification by industry mammoths.
  • ClearSpace — A mission to make space sustainable ClearSpace
  • SettleMint — SettleMint is a Blockchain technology company (with offices in Belgium, United Arab Emirates, Saudi Arabia, India and Singapore) & was incorporated in 2016 by Matthew Van Niekerk & Roderik van der Veer. They met in 2013 while devising & developing blockchain applications for KBC Securities, a large Belgian financial institution. Theyvery quickly realised that the promise of Blockchain technology far exceeded the boundaries of the financial world & would permeate industry & society entirely in the years to come. With the realisation that the technology will benefit organisations large and small, unlock incredible opportunities for society and move from a nascent to prevalent technology over the next 5 to 10 years, Matthew and Roderik set up SettleMint with a simple purpose, to make it easy for developers to integrate blockchain technologies into their applications. This product vision addresses the single biggest inhibitor to adoption, developer capabilities.SettleMint's core technology 'Mint' accelerates the path to leveraging the benefits of blockchain technology: whether those enterprises are looking to improve efficiency, to extend their current products to a new client segment or to completely reinvent an existing business model.Mint is a chain-agnostic node-wrapping technology including a suite of APIs, developer tools and frameworks that enable any software developer to build new Blockchain based applications or integrate Blockchain functionalities into existing solutions. Mint encapsulates years of R&D on the technical, operational & organisational aspects of Blockchain technology & packages this in fully documented APIs, micro-services, browser components and templates that strips away complexity and providing developers with the building blocks required to build full stack applications.Based on our development of 35+ fully functioning Blockchain applications & after having researched more than 500 known use cases, Mint covers 85% of the use cases for Blockchain technologies and radically reduces the time to market for users. Using Mint, integrating blockchain technologies into an application can take as little as 3 hours.So in short, it doesn’t matter if you are a startup or a big corporation, if you have decided that Blockchain technology should be part of your business or your vision for the future there is no faster solution to get you there.
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