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Venture Capital
qingsongfund.com

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Investments

152

Portfolio Exits

7

Funds

5

About QingSong Fund

QingSong Fund is a venture capital firm.

QingSong Fund Headquarter Location

Room 1903, A8 Music Building 99 Gaoxin South 9th Ave., Nanshan District

Shenzhen, Guangdong,

China

+86 0755-33326333

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Latest QingSong Fund News

Ninetech Bags Tens of Millions of Yuan in Round-A Financing

Mar 15, 2022

(Source: SmartRPA) Ninetech, a RPA (robotic process automation) solutions provider based in China, has recently secured tens of millions of yuan in a round A of financing led by Qingsong Fund and followed by Jinshajiang Venture Capital. Yuanhe Capital acted as the financial advisor for the deal. The new funds will reportedly be used to upgrade the firm’s products and expand its team. Ninetech’s official website shows that it was jointly established in 2020 by China Merchants Group (CMG) and Jinshajiang Venture Capital. It was originally an innovative RPA + AI project initiated by the fintech subsidiary of CMG. Since its establishment, the company has been focusing on providing an enterprise-level agile application platform and providing digital transformation and upgrading solutions for large state-owned enterprises and other major firms. RPA is described as an “AI digital employee,” specially aimed at large-scale, repetitive and mechanized manual operations within enterprises. The technology automates such work by simulating human workflow. The development and application of RPA products generally needs to go through three stages. First, developers have to gain insight into customer needs and restore business processes. Then, they will select automated links and build automated processes. Finally, developers will realize practical applications and process management. Focusing on these three stages, Ninetech upgraded a single RPA product and launched three innovative products in September, 2021, including a “bit-Miner” process mining platform, a “bit-Worker” RPA process automation robot and a “bit-Builder” low-code development platform. The firm then built a complete enterprise-level agile application platform. Through big data analysis and model algorithms, the bit-Miner platform can help enterprises find their best automation path, and avoid subjectivity and one-sidedness that cannot be avoided in traditional consulting analysis. The bit-Builder low-code development platform reduces development and service costs and shortens overall service delivery time. In terms of technology, Ninetech has nearly 20 intellectual property rights, and its agile application platform has fully supported mainstream domestic operating systems and office software. The products have also been applied in many domestic IT industry manufacturers such as Kirin, Kunpeng, Phytium, WPS and Huawei Cloud. RPA industry achieved rapid development in 2019. With the increase of market penetration rate, the scope of its operations is gradually expanding. According to the “Insight Report on China’s RPA Industry in 2021” by RPA.cn , it is estimated that the RPA market in China will reach 2.42 billion yuan ($379.3 million) in 2021. The report also predicts that China’s RPA market will reach 8.18 billion yuan in 2024.

QingSong Fund Investments

152 Investments

QingSong Fund has made 152 investments. Their latest investment was in .bit as part of their Series A on August 8, 2022.

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QingSong Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/15/2022

Series A

.bit

$13M

Yes

1

7/7/2022

Seed VC - III

Best Care+

No

1

6/30/2022

Seed VC - II

VOLANT

Yes

2

4/13/2022

Seed VC

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10

4/13/2022

Seed VC

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10

Date

8/15/2022

7/7/2022

6/30/2022

4/13/2022

4/13/2022

Round

Series A

Seed VC - III

Seed VC - II

Seed VC

Seed VC

Company

.bit

Best Care+

VOLANT

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Amount

$13M

New?

Yes

No

Yes

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Co-Investors

Sources

1

1

2

10

10

QingSong Fund Portfolio Exits

7 Portfolio Exits

QingSong Fund has 7 portfolio exits. Their latest portfolio exit was Zhangmen on June 08, 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

6/8/2021

IPO

$99M

Public

8

1/15/2021

Acquired

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$99M

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10

11/28/2020

Shareholder Liquidity

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$99M

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10

7/8/2020

IPO

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$99M

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10

7/2/2019

Acquired

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$99M

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0

Date

6/8/2021

1/15/2021

11/28/2020

7/8/2020

7/2/2019

Exit

IPO

Acquired

Shareholder Liquidity

IPO

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

8

10

10

10

0

QingSong Fund Fund History

5 Fund Histories

QingSong Fund has 5 funds, including Qingsong Fund IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/31/2021

Qingsong Fund IV

$152M

2

12/19/2019

青松智慧基金 (Qingsong Intelligent Fund)

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$99M

10

12/31/2017

Qingsong Fund III

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10

12/31/2014

Qingsong Fund II

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10

6/1/2012

Qingsong Fund I

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$99M

10

Closing Date

3/31/2021

12/19/2019

12/31/2017

12/31/2014

6/1/2012

Fund

Qingsong Fund IV

青松智慧基金 (Qingsong Intelligent Fund)

Qingsong Fund III

Qingsong Fund II

Qingsong Fund I

Fund Type

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Status

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Amount

$152M

$99M

$99M

Sources

2

10

10

10

10

QingSong Fund Team

2 Team Members

QingSong Fund has 2 team members, including current Managing Partner, Zhanbin Dong.

Name

Work History

Title

Status

XiaoSong Liu

Founder

Current

Zhanbin Dong

Managing Partner

Current

Name

XiaoSong Liu

Zhanbin Dong

Work History

Title

Founder

Managing Partner

Status

Current

Current

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