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rpvchina.com

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Investments

150

Portfolio Exits

10

Funds

4

About Redpoint Ventures China

Redpoint Ventures China, established by Redpoint, is a venture capital fund that primarily focuses on investments in the TMT and IT industries in China.

Redpoint Ventures China Headquarter Location

Room 1801, Jingan Kerry Centre 2 1539 Nanjing West Road, Jing’an District

Shanghai, Shanghai,

China

+86 021-62887757

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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.

Latest Redpoint Ventures China News

Tencent-backed AI startup Enflame Bags US$100M Series B

May 11, 2020

Chinese artificial intelligence (AI) startup Enflame (Suiyuan) Technology, which develops cloud-based deep learning chips for AI training platforms, raised almost US$100 million in its Series B funding round led by Summitview Capital, a Beijing-based VC fund that focuses on semiconductor investments in China, according to a company statement on Thursday. Existing investors who participated in the round include Internet giant Tencent Holdings, SHIVC, a VC fund established by the Shanghai government, Redpoint Ventures China , Oceanpine Capital , Delta Capital, and Wanwu Capital. “We are firmly optimistic about China’s hard technology development and industry upgrade direction. In the exploration of industrial Internet strategies and cutting-edge technologies such as artificial intelligence, Tencent and Suiyuan also have a strong synergy effect,” said Tencent Investment Managing Director Yao Leiwen. “During the landing process, Tencent’s technical team and Suiyuan launched a comprehensive cooperation to help the company greatly accelerate the research and development process. We believe that companies with good products and leading technologies can continue to drive long-term growth,” he added. According to Crunchbase data, Enflame raised seed funding of close to $1.3 million (RMB 9.5 million) in 2018, closely followed by a pre-A series funding of approximately $48 million (RMB 40 million), led by Tencent in the same year. It raised another $42 million (RMB 300 million) in its Series A funding round in 2019. With the latest investment, the startup’s total funding has reached almost $191.3 million at a valuation of $734 million (RMB 5.2 billion) . The company said it aims to increase its valuation to approximately $990 million (RMB 7 billion) in its next round of fundraising. According to the company statement, the latest investment will be utilized to scale Enflame’s business, mass produce its chips, expand its tech support team, and to fund research and development of second-generation cloud training and related products. Founded in March 2018, Enflame develops programmable low-cost deep learning chips for cloud data centers, that are positioned on artificial intelligence training platforms. The chips adopt an innovative architecture that is independently developed, features a high computing power and energy efficiency ratio, and provides support for mainstream machine learning frameworks, designed and optimized for cloud AI training. Enflame launched its first cloud data center-oriented AI training chip, Suisi Deep Thinking Unit, in December last year. “We are working hard to become the first reliable supplier of AI hardware for cloud computing and break the foreign monopoly in the field,” said Enflame Co-founder and CEO Zhao Lidong. “At the same time, we are cooperating with multiple upstream and downstream partners to implement the national ‘new infrastructure’ strategy,” he added. Co-founder of Summitview Capital Wu Ping said, “The three major elements of artificial intelligence are algorithms, computing power and data. As a big and powerful country in artificial intelligence, China has never fallen behind in terms of algorithms and data.”   “But in terms of computing power, the high-performance cloud training chip has not broken through for a long time. Enflame’s ability to break this situation is of far-reaching significance for the healthy development of the artificial intelligence industry,” he added.

Redpoint Ventures China Investments

150 Investments

Redpoint Ventures China has made 150 investments. Their latest investment was in Youbu as part of their Seed VC on October 10, 2021.

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Redpoint Ventures China Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/14/2021

Seed VC

Youbu

Yes

4

10/13/2021

Seed VC

iROS

Yes

1

9/15/2021

Series B

Vision Technology

$15.49M

Yes

3

9/1/2021

Series A

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$99M

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10

8/31/2021

Series B

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$99M

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10

Date

10/14/2021

10/13/2021

9/15/2021

9/1/2021

8/31/2021

Round

Seed VC

Seed VC

Series B

Series A

Series B

Company

Youbu

iROS

Vision Technology

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Amount

$15.49M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

4

1

3

10

10

Redpoint Ventures China Portfolio Exits

10 Portfolio Exits

Redpoint Ventures China has 10 portfolio exits. Their latest portfolio exit was Xiaolu Chinese Medicine on August 17, 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

8/17/2021

Acquired

5

7/9/2021

Acquired

$991

17

7/22/2019

IPO

2

00/00/0000

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10

00/00/0000

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$991

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10

Date

8/17/2021

7/9/2021

7/22/2019

00/00/0000

00/00/0000

Exit

Acquired

Acquired

IPO

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Companies

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Valuation

$991

$991

Acquirer

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Sources

5

17

2

10

10

Redpoint Ventures China Fund History

4 Fund Histories

Redpoint Ventures China has 4 funds, including ACE Redpoint Opportunity China.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/22/2019

ACE Redpoint Opportunity China

$100M

5

1/22/2019

ACE Redpoint Ventures China II

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$99M

10

3/18/2018

Redpoint China RMB Fund I

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$99M

10

10/12/2016

ACE Redpoint Ventures China I

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$99M

10

Closing Date

1/22/2019

1/22/2019

3/18/2018

10/12/2016

Fund

ACE Redpoint Opportunity China

ACE Redpoint Ventures China II

Redpoint China RMB Fund I

ACE Redpoint Ventures China I

Fund Type

Subscribe to see more

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Status

Amount

$100M

$99M

$99M

$99M

Sources

5

10

10

10

Redpoint Ventures China Team

1 Team Member

Redpoint Ventures China has 1 team member, including current Founder, Managing Partner, David Yuan.

Name

Work History

Title

Status

David Yuan

Founder, Managing Partner

Current

Name

David Yuan

Work History

Title

Founder, Managing Partner

Status

Current

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