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bluelakecap.com

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Investments

82

Portfolio Exits

3

Funds

3

About Blue Lake Capital

Blue Lake Capital is a venture capital firm that invests in high-growth startups.

Blue Lake Capital Headquarter Location

Peace International Financial Center, BF, #2606 Xinyuan South Road, No.3, Chaoyang District

Beijing, Beijing, 100027,

China

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Latest Blue Lake Capital News

Chinese Storytelling Platform Kuaidian Secures US$100M Series C

Jul 8, 2020

Chinese interactive entertainment platform Kuaidian Yuedu has raised almost US$100 million in its Series C round of financing, according to a statement. Led by Sequoia Capital China Fund, the funding round saw participation from venture investment firms GGV Jiyuan Capital and Morningside Capital, in addition to other existing backers, the statement from Blue Lake Capital, a previous investor, said. Beijing-based Kuaidian Yuedu (translated as Quick Reading) is an immersive storytelling app that allows users to narrate short plots through text, audio and video formats, and monetize their content as well. With intellectual property-protected content, the user-generated content platform has created a ‘new creator ecology’, CEO of Kuaidian Zhang Rui said in the statement, driven by smart and interactive scripts. Kuaidian’s official version launched in 2017, positioned as a “conversational fiction platform” focused on storytelling amongst young readers. In the following years, Kuaidian added rich media interaction features, such as dubbing functionalities and full-speech dialogue novels, and piloted video formats through vertical-screen short dramas through text and audio. According to the statement, 20% of the platform’s online community participate in content creation every month, and 50% engage and interact with the content. The platform currently features 30,000 short dramas, consumed by 70% of the platform’s users, with 5 million daily active users in total. Kuaidian has plans to monetize the content platform, through advertising and value-added benefits for members, aiming for a monthly turnover of RMB 10 million (US$1.4 million at current rates). It is planning to release between 20 to 30 original dramas this year, the statement added. It also aims to expand its user base by including more formats such as live broadcasts. “Kuaidian in the past two years has successfully proved that dialogue novels, on the production side, are the content form with the lowest threshold for creation, and continue to accumulate a large amount of valuable [intellectual property],” Zhang said in the statement. “On the consumer side, short video is the media form with the highest user ceiling. Now that Kuaidian has the opportunity to use differentiated content to enter this market, then we must bravely try,” he added. Prior to this fundraise, Kuaidian had previously raised $47.1 million from GGV Capital, Morningside Group, and Blue Lake Capital, according to data from Crunchbase . Over half of this was raised in a venture round in 2019, from GGV Capital.

Blue Lake Capital Investments

82 Investments

Blue Lake Capital has made 82 investments. Their latest investment was in ShopAstro as part of their Series A on March 3, 2022.

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Blue Lake Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/28/2022

Series A

ShopAstro

Yes

Hillhouse Capital Management, Shenjin Capital, and Undisclosed Investors

2

3/24/2022

Seed VC - II

Yundong Cloud

$15.71M

No

2

3/8/2022

Seed VC

ZKNOW

$11.08M

Yes

5

1/28/2022

Series A

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$99M

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10

11/27/2021

Series C

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$99M

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10

Date

3/28/2022

3/24/2022

3/8/2022

1/28/2022

11/27/2021

Round

Series A

Seed VC - II

Seed VC

Series A

Series C

Company

ShopAstro

Yundong Cloud

ZKNOW

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Amount

$15.71M

$11.08M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Hillhouse Capital Management, Shenjin Capital, and Undisclosed Investors

Sources

2

2

5

10

10

Blue Lake Capital Portfolio Exits

3 Portfolio Exits

Blue Lake Capital has 3 portfolio exits. Their latest portfolio exit was Acotec on August 24, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/24/2021

IPO

2

7/23/2021

IPO

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$99M

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10

6/3/2019

Acquired

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10

Date

8/24/2021

7/23/2021

6/3/2019

Exit

IPO

IPO

Acquired

Companies

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Valuation

$99M

Acquirer

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Sources

2

10

10

Blue Lake Capital Fund History

3 Fund Histories

Blue Lake Capital has 3 funds, including Blue Lake Capital Fund III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/18/2020

Blue Lake Capital Fund III

$201.7M

2

7/27/2018

Blue Lake Capital Fund II

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$99M

10

12/31/2014

Blue Lake Capital Fund I LP

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$99M

10

Closing Date

12/18/2020

7/27/2018

12/31/2014

Fund

Blue Lake Capital Fund III

Blue Lake Capital Fund II

Blue Lake Capital Fund I LP

Fund Type

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Status

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Amount

$201.7M

$99M

$99M

Sources

2

10

10

Blue Lake Capital Team

1 Team Member

Blue Lake Capital has 1 team member, including current Founder, Lei Hu.

Name

Work History

Title

Status

Lei Hu

Founder

Current

Name

Lei Hu

Work History

Title

Founder

Status

Current

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