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matrixpartners.com.cn

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Investments

798

Portfolio Exits

46

Funds

7

Partners & Customers

1

About Matrix Partners China

Matrix Partners China is committed to building long-term relationships with outstanding entrepreneurs and helping them build significant, industry-leading companies. Affiliated with Matrix Partners, a premier U.S. venture capital firm, Matrix Partners China was founded in 2008 to focus exclusively on investments in China.

Matrix Partners China Headquarter Location

Suite 2601, Taikang Financial Tower No.38, East 3rd Ring Road North, Chaoyang District

Beijing, Beijing, 100026,

China

+86-10-6500-0088

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The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Matrix Partners China

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Matrix Partners China in 3 Expert Collections, including Banking.

B

Banking

44 items

Based on CB Insights Research Brief: https://www.cbinsights.com/blog/industry-market-map-landscape/#retail banking

U

Unicorns- Billion Dollar Startups

113 items

C

CB Insights Consumer Smart Money Investors - 2020

25 items

Track the world's top-performing VC investors in consumer. Firms are presented in alphabetical order.

Latest Matrix Partners China News

China VC Weekly: AI, Gen Z and More

Dec 28, 2021

China VC Weekly: AI, Gen Z and More (Source: Yowu) In last week’s VC news, AI application company Singularity Systems closes A+ round of financing, streetwear retailer Knowin secures several hundred million yuan in a round led by Alibaba , self-driving solutions provider Senior Auto receives $16 million with ByteDance as lead investor, and more. AI Startup Singularity Systems Closes Series A+ Financing AI application company Singularity Systems Inc.  announced on Friday that it had received an injection of tens of millions of dollars in an A+ round of financing. The round was led by Ince Capital and followed by BitRock Capital, with Yuanyi Capital acting as the exclusive financial adviser. Previously, it received a strategic investment of tens of millions of yuan from Huatai Innovation, a subsidiary of Huatai Securities. Singularity Systems is an international AI enterprise with world-leading natural language processing (NLP), intelligent image processing and big data analysis and prediction technologies. It mainly focuses on financial services and is committed to developing light-sized, agile and efficient technologies and solutions. About Singularity Systems Founded in 2019, Singularity Systems is headquartered in Princeton, New Jersey, and has offices in Beijing and Shanghai. Its customers include many leading global commercial banks, insurance companies, investment banks, world mining giants, oil and gas energy giants, and leading advanced manufacturing enterprises. Cloud Native Basic Engine Provider Galaxy Future Bags Tens of Millions of Dollars in Financing This financing includes the initial angel round, led by Future Capital and Chuxin Capital, and an angel+ round, led by Matrix Partners China and followed by Future Capital and Chuxin Capital. Huang Dongxu, CTO of PingCAP, and He Ting, Vice President of Products of  Agora , also participated in the round. The fresh funds will be mainly used for the establishment of an R&D team, the development of cloud native basic engine products, an open-source community and market development. In addition to the domestic market, Galaxy Future plans to expand internationally within one or two years to participate in the globally surging open-source, cloud-native digital transformation. About Galaxy Future Galaxy Future was established in June 2021. Its founder and CEO Liu Daoru has served as the head of R&D for Chinese microblogging platform Weibo’s feed stream product line, as well as the head of its infrastructure department. Other major members of Galaxy Future come from various infrastructure departments or core R&D teams of well-known companies in the industry such as  Alibaba , ByteDance, Weibo, Kuaishou and Didi. Semiconductor Storage Firm DERA Secures Nearly $157 Million in Round C Financing This round was jointly led by the Phase II Fund of China Reform Fund and CICC’s Chuanhe Fund, followed by Unicom CICC, Hongta Venture Capital, CITIC New Future Investment, Shenzhen Capital and Yihua Capital. Old shareholders such as Xianfeng Venture Capital and Yunhang Capital also joined in. This is the second financing round obtained by DERA this year. The firm was established in 2015 with headquarters in Beijing, as well as R&D centers and customer technical support centers in Shanghai, Wuhan and Shenzhen. About DERA As the pioneer in the R&D of enterprise SSD controllers in China, DERA has created a complete link from design, manufacturing, packaging, testing and module manufacturing to marketing and services, to provide safe and reliable high-performance storage products for enterprises’ data centers, cloud computing platforms and other fields. Commercial Robot Maker Jingwu AI Receives $1.5 Million in Series A Financing Jingwu AI, a commercial robot company based in China , has received 10 million yuan ($1.57 million) in round A of financing. The round was led by SOSV-SCGC China Fund while Extremex Capital continued to serve as the exclusive financial consultant. The proceeds of this round of funding will be mainly used for product R&D and market expansion. Currently, the company’s delivery robots have reached extensive cooperation with chain groups such as Home Inn, Jinjiang and Huazhu, as well as hotel giants such as Marriott and Hilton. About Jingwu AI Founded in 2019 Jingwu AI mainly focuses on the development of hotel robots and works to provide customers with robotic and systemic solutions to reduce overall costs and increase income. Chinese Streetwear Retailer Knowin Secures Several Hundred Million Yuan, Led by Alibaba Knowin, a one-stop trends and lifestyle brand geared towards Gen Z customers, announced  its completion of a new round of financing  worth several hundred million yuan. This round was led by  Alibaba , followed by previous shareholders Sky9 Capital, Matrix Partners and Zhen Fund. Palm Capital Asia Partners continues to serve as the exclusive financial advisor. At the early stage of its establishment, the company obtained an angel round of investment led by  Bilibili . Wang Sicong, as an early investor, also helped the growth of Knowin. In May 2021, the company received nearly 200 million yuan ($31.39 million) in A-round financing. This new round is the third one completed by Knowin this year. About Knowin Founded in 2020, Knowin aims at young people aged 20-30. The company constantly explores and meets the needs of young customers and brings together people with the same tastes. The firm also aims to create a space for the brand to interact with its customers and is a one-stop trends and lifestyle platform integrating exhibitions and brand marketing. Chinese Autonomous Driving Company Qiangua Technology Rakes in $31.4 Million From Baidu Motors Qiangua Technology, a Chinese autonomous driving truck company , has recently completed financing of about 200 million yuan ($31.4 million), and is now valued at over 1 billion yuan. Investors in this round are SF Express,  Baidu About Qiangua Technology Qiangua Technology was established in July this year as a startup that provides logistics and transportation services based on automated driving technology. Its founders are Sun Haowen and Ding Fei. Hydrogen Fuel Cell Developer Cemt Secures Nearly $31.39 Million in B Round of Financing Chinese tech firm Cemt Co., Ltd.  received nearly 200 million yuan ($31.39 million) in a Series B round of financing, with investors including Oriza Prior, CCB Trust and Moom Group. Scale Partners acted as the company’s capital consultant. Since the middle of this year, Cemt has continuously obtained Series A and B financing from many investment institutions including Fresh Capital, China Capital Management and Xiaoxiang Capital. Xu Liming, Chairman of Cemt, said that the company will continue to invest in R&D and reducing the costs of production. It will also hire more talent, so as to prepare for the large-scale production of fuel cell stacks and to further develop the hydrogen energy industry. About Cemt Cemt, established in 2016, is one of the few hydrogen fuel cell system suppliers with mass production capacity of fuel cell metal bipolar plates and membrane electrodes in China, and is currently the only high-tech enterprise with manufacturing capacity of fuel cell systems and a whole-equipment production line in China. Gen Z-Focused Consumer Electronics Brand Yowu Wraps Up Pre-A Round of Financing, Led by Xiaomi , and followed by Pop Mart. Long Valley Capital acted as the financial adviser. Wang Hao, CEO of Yowu, said that the brand is not simply engaged in product design, but also investing in technology and production. Yowu has R&D teams in Shanghai and Shenzhen, and seeks to better integrate hardware solutions. In terms of headset lighting and app control technology, Yowu is also investing its resources in independent R&D. About Yowu Founded in Shanghai in 2018, Yowu focuses on the development and innovation of emerging electronic consumer goods, with the post-90s youth as its core focus. Previously, Yowu received exclusive investment from its angel investor Borchid Capital. NASN Automotive Electronics Secures $78.47 Million in C-Round Financing NASN Automotive Electronics, a manufacturer of chassis electronic control components, completed  a C round of financing worth 500 million yuan ($78.47 million) , with joint investment from BOCG Investment, GL Ventures, CATL and CMG-SDIC Capital. Tao Zhe, founder of NASN, revealed that the company has reached agreements with many leading automakers such as BAIC New Energy, BYD, Changan Automobile and Great Wall Motors. The company claims to have abundant orders and is accelerating the expansion of its manufacturing bases. After this round of financing, NASN will work with its partners to strengthen new product development, production investment and customer service. About NASN Founded in 2016, NASN focuses on the R&D of core technologies related to automotive chassis, intelligent driving and new energy vehicles. The company integrates R&D, production and sales. AI-Based Drug Development Company Xbiome Completed B Round of Financing of Nearly $100 Million Xbiome Biotech Co., Ltd., an AI-based microbiome drug development company in Shenzhen, China, announced  the completion of a B-round of financing totaling nearly $100 million. The company says this is one of the highest financing rounds in the domestic microbial industry. Its investors include famed investment institutions such as Legend Capital, Gaorong Capital, 5Y Capital Capital, Primavera Capital Group, Wuyuan Capital, Chunhua HIKE Capital Capital and Tiantu Capital. Xbiome says the funds are earmarked for the clinical trials of drugs, IND application projects in the US and China, and the R&D of candidate drug lines. The new investment is also meant to help introduce commercial authorization and cooperation with large drug companies, and to accelerate the company’s upgrading process. About Xbiome Founded in 2017, Xbiome is an industry-leading AI-based microbiome drug development company in China. The firm is dedicated to the development of microbiome therapies such as fecal microbiota transplantation (FMT) and mini-FMT for the alleviation and treatment of intestinal and other related disease. 3D Printing Firm UnionTech Completes Round D of Financing Worth $31 Million UnionTech, an industrial-grade 3D printing enterprise , has completed round-D financing worth 200 million yuan ($31 million). This round was led by Dening Capital, followed by Cash Capital, Yingke Private Equity, Dragonrise Capital, Evonik Venture Capital Gmbh and others. About UnionTech  UnionTech has developed a series of its own software,  including data pre-processing software Polydevs, printing control software RSCON/DSCON, process algorithm software BP and digital production management collaborative system Unionfab. Senior Auto Receives $16 Million in Series A Round Financing Led by ByteDance Senior Auto, a provider of driverless solutions and operation services in the pan-port field, announced that it had received 100 million yuan ($16 million) in a Series A round of financing. The lead investor was Beijing-based tech giant ByteDance, while co-investors included existing shareholders such as Guangfa GF Xinde Investment Management, Jinbang Capital and Chentao Capital. CVCapital acted as exclusive financial adviser for the deal. The funds have been earmarked for R&D, daily operations and market expansion. About Senior Auto Senior Auto was founded in April 2020. Previously, the company completed an angel investment round and a pre-A financing round in May 2020 and February 2021, respectively. MedTech Firm Synapsor Bags Tens of Millions of Dollars in Financing Round Led by Xiaomi AI-powered chronic disease treatment platform Synapsor completed a fresh round of financing worth tens of millions of dollars, with  Xiaomi  reportedly serving as lead investor, alongside co-investors Source Code Capital and Shunwei Capital. The funds are to be used for R&D of core products and algorithms, capacity improvement and business expansion in both the Chinese and overseas markets. Previously, Synapsor received angel investment as high as tens of millions of yuan from Source Code Capital. This fundraising attracted  Xiaomi  and Shunwei Capital, and retained existing shareholder Source Code Capital. In 2021, Synapsor has raised nearly 100 million yuan in financing. About Synapsor Synapsor was founded by a technical team of Oxford University alumni on October 25, 2019. The company is committed to the R&D and manufacturing of AI-powered smart medical wearable devices.

Matrix Partners China Investments

798 Investments

Matrix Partners China has made 798 investments. Their latest investment was in DP Technology as part of their Series B on January 1, 2022.

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Matrix Partners China Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/17/2022

Series B

DP Technology

No

6

1/13/2022

Seed VC

Xinhua Biology

Yes

6

1/11/2022

Series B

Starfield

$100M

No

2

1/5/2022

Series A - II

Subscribe to see more

Subscribe to see more

10

1/4/2022

Series B - II

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Subscribe to see more

10

Date

1/17/2022

1/13/2022

1/11/2022

1/5/2022

1/4/2022

Round

Series B

Seed VC

Series B

Series A - II

Series B - II

Company

DP Technology

Xinhua Biology

Starfield

Subscribe to see more

Subscribe to see more

Amount

$100M

New?

No

Yes

No

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

6

6

2

10

10

Matrix Partners China Portfolio Exits

46 Portfolio Exits

Matrix Partners China has 46 portfolio exits. Their latest portfolio exit was Senti Biosciences on December 20, 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

12/20/2021

Acq - Pending

$99M

3

8/30/2021

IPO

$99M

2

7/12/2021

IPO

1

4/9/2021

IPO

Subscribe to see more

$99M

Subscribe to see more

10

3/16/2021

IPO

Subscribe to see more

$99M

Subscribe to see more

10

Date

12/20/2021

8/30/2021

7/12/2021

4/9/2021

3/16/2021

Exit

Acq - Pending

IPO

IPO

IPO

IPO

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

3

2

1

10

10

Matrix Partners China Fund History

7 Fund Histories

Matrix Partners China has 7 funds, including Matrix Partners VI.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/26/2021

Matrix Partners VI

$1,200M

4

12/4/2018

Matrix Partners China V-A

$99M

10

6/20/2018

Matrix Partners China V

$99M

10

10/11/2016

Matrix Partners China IV-A

$99M

10

2/4/2016

Matrix Partners China IV

$99M

10

Closing Date

1/26/2021

12/4/2018

6/20/2018

10/11/2016

2/4/2016

Fund

Matrix Partners VI

Matrix Partners China V-A

Matrix Partners China V

Matrix Partners China IV-A

Matrix Partners China IV

Fund Type

Status

Amount

$1,200M

$99M

$99M

$99M

$99M

Sources

4

10

10

10

10

Matrix Partners China Partners & Customers

1 Partners and customers

Matrix Partners China has 1 strategic partners and customers. Matrix Partners China recently partnered with Danhua Capital, Ontology, Sequoia Capital China, and ZhenFund on April 4, 2018.

Date

Type

Business Partner

Country

News Snippet

Sources

4/5/2018

Partner

Danhua Capital, Ontology, Sequoia Capital China, and ZhenFund

United States, United Kingdom, and China

Ontology Announces Cooperation with Sequoia China, Danhua Capital, Matrix Partners China and...

Speaking on the dawn of the ecosystem incubation with the new partnerships , Jun Li , Founder of Ontology , said , `` We are very thankful for the support and trust from Sequoia China , Danhua Capital , Matrix Partners China China and ZhenFund .

1

Date

4/5/2018

Type

Partner

Business Partner

Danhua Capital, Ontology, Sequoia Capital China, and ZhenFund

Country

United States, United Kingdom, and China

News Snippet

Ontology Announces Cooperation with Sequoia China, Danhua Capital, Matrix Partners China and...

Speaking on the dawn of the ecosystem incubation with the new partnerships , Jun Li , Founder of Ontology , said , `` We are very thankful for the support and trust from Sequoia China , Danhua Capital , Matrix Partners China China and ZhenFund .

Sources

1

Matrix Partners China Team

4 Team Members

Matrix Partners China has 4 team members, including current Managing Partner, Xu Chuansheng.

Name

Work History

Title

Status

Bo Shao

Founder

Current

Xu Chuansheng

Managing Partner

Current

David Su

Managing Partner

Current

Ying Zhang

Managing Partner

Current

Name

Bo Shao

Xu Chuansheng

David Su

Ying Zhang

Work History

Title

Founder

Managing Partner

Managing Partner

Managing Partner

Status

Current

Current

Current

Current

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