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zhenfund.com

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Investments

698

Portfolio Exits

34

Funds

16

Partners & Customers

2

About ZhenFund

ZhenFund was established in 2006 by Xu Xiaoping, one of New Oriental's co-founders, with the aim of promoting innovation among young people in China. Just as New Oriental empowered thousands of Chinese students to study abroad, ZhenFund likewise hopes to create a bridge for overseas returnees to pursue entrepreneurship in China, as well as support domestic entrepreneurs with global vision and integrity to realize their entrepreneurial dreams. Prior to November 2011, ZhenFund was an investor in Shiji Jiayuan, Lightinthebox, Jumei.com, and almost eighty other early stage companies in Mainland China. In December 2011, ZhenFund partnered with Sequoia Capital China on "ZhenFund 2.0" to invest 200mm RMB in early-stage Chinese start-ups. Partnering with Sequoia allows ZhenFund to harness more comprehensive resources for portfolio companies including strategic advice, human resources, legal, and financial assistance - helping portfolio companies start smoothly and scale rapidly.

ZhenFund Headquarter Location

Beijing, Beijing,

China

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Expert Collections containing ZhenFund

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

Find ZhenFund in 1 Expert Collection, including Synthetic Biology.

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Synthetic Biology

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Page Views per Million (PVPM)
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Research containing ZhenFund

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned ZhenFund in 2 CB Insights research briefs, most recently on Jun 11, 2020.

Latest ZhenFund News

Chinese cellular agriculture startup CellX closes $4.3M seed funding in early 2021

Sep 5, 2021

September 5, 2021 Led by ZhenFund, a close partner of  Sequoia Capital  China, Chinese cellular agriculture startup CellX just closed its second funding round of $4.3 million. The fundraising came half a year after the Shanghai-based cultivated meat startup’s initial pre-seed round in late 2020. Other investors participating include Sky9 capital, K2VC, Lever VC, Better Bite Ventures, and others. CellX aspires to bring cultivated meat products to consumers in China and around the world. With over half of global pork supply consumed in China, and as Chinese government commit to cut carbon agressively in the next few decades, cultivated meat is considered a solution for China’s pork crisis and food security issue. It can significantly contribute to low carbon transition of the country in the long term as well as the nascent industry get to scale. The company’s 25 scientists and impact entrepreneurs works out of its headquarter in Shanghai Zhangjiang, a leading biotech hub in China. The company has developed multiple prototypes, including structured products with scaffolding and 3D bioprinting technologies. CellX is led by four cofounders with diverse backgrounds across the field of business and scientific research. CEO Ziliang is a former consultant from Boston Consulting Group with experience advising top executives from Fortune 500 companies. Scientific lead Dr. Ning Xiang was a postdoc fellow in David Kaplan's lab at Tufts University, researching tissue engineering for cultivated meat. She received her PhD from Purdue University and has more than ten years of experience in food science. Dr. Binlu Huang is also a scientific lead who received her Ph.D. from Tsinghua University and was a postdoc fellow at the University of Basel and Chinese Academy of Sciences. Before joining CellX, Dr. Huang worked in the CAR-T industry in China. Cofounder Ran Liu received his MBA from Stanford University and is a serial entrepreneur in deep tech. As the only team from China, CellX was selected as a semifinalist in XPRIZE Feed the Next Billion Competition. The $15 million competition, launched in December 2020, is aimed at reinventing how humanity will feed future generations. Cultivated Meat in China In May 2020, during China’s annual Two Sessions, cultivated meat was discussed as a major solution to make China’s food supply more sustainable and crisis-resilient. Cellular agriculture is well positioned to help China solve its food security issues and achieve carbon neutrality. China is the world's largest meat market. Worldwide meat consumption is projected to grow by 88% from 2010 to 2050 ( WRI ). As wealth accumulates, the demand for animal protein in China increased from 2000 to 2019 by 32% per capita. More than 50% of global pork is consumed by the Chinese, and with insufficient and volatile domestic supply,  6.4 billion dollars worth of imported pork was sold in 2019 in China  ( USDA ). The demand for animal protein in China is bound to increase with the addition of around 120 million middle class households in the next decade ( USDA ), but domestic resources in animal feed, arable land and freshwater supply cannot suffice such demand. Cultivated meat provides a promising solution to reduce the need for animal protein from factory farming, and a stable supply of high quality protein from local sources can relieve China's reliance on meat importation. Although China has been the world's largest meat market, cellular agriculture in the country  is still an emerging field. Given food security concerns, complexity in the regulatory approval process,  better access to local consumer tastes and dietary patterns, Chinese cultivated meat companies are considered to have advantages over its global peers in the local market. As of today, CellX is one of the only three cultivated meat companies in China. As a pioneer in the field, CellX is rapidly expanding and hiring top-notch scientists and form partnership with institutions globally.

ZhenFund Investments

698 Investments

ZhenFund has made 698 investments. Their latest investment was in Weiming Shiguang as part of their Seed VC - II on November 11, 2021.

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ZhenFund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/8/2021

Seed VC - II

Weiming Shiguang

$7.82M

No

4

11/4/2021

Seed VC - II

Sense Games

Yes

1

10/28/2021

Seed VC

LinkZill

Yes

7

10/26/2021

Series A

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$99M

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10

10/21/2021

Series A

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$99M

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10

Date

11/8/2021

11/4/2021

10/28/2021

10/26/2021

10/21/2021

Round

Seed VC - II

Seed VC - II

Seed VC

Series A

Series A

Company

Weiming Shiguang

Sense Games

LinkZill

Subscribe to see more

Subscribe to see more

Amount

$7.82M

$99M

$99M

New?

No

Yes

Yes

Subscribe to see more

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Co-Investors

Sources

4

1

7

10

10

ZhenFund Portfolio Exits

34 Portfolio Exits

ZhenFund has 34 portfolio exits. Their latest portfolio exit was Waterdrop on May 07, 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

5/7/2021

IPO

$991

11

4/23/2021

Acquired

1

3/4/2021

Acquired

1

00/00/0000

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$991

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10

00/00/0000

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Subscribe to see more

10

Date

5/7/2021

4/23/2021

3/4/2021

00/00/0000

00/00/0000

Exit

IPO

Acquired

Acquired

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Companies

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Valuation

$991

$991

Acquirer

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Sources

11

1

1

10

10

ZhenFund Fund History

16 Fund Histories

ZhenFund has 16 funds, including Zhen Fund COIX.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/23/2020

Zhen Fund COIX

$4.7M

1

10/8/2019

Zhen Fund COVII

$3.5M

1

7/30/2019

Zhen Fund COV

$18M

1

12/31/2018

Zhen Partners Fund V

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$99M

10

1/7/2015

Zhen Partners Fund III

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$99M

10

Closing Date

3/23/2020

10/8/2019

7/30/2019

12/31/2018

1/7/2015

Fund

Zhen Fund COIX

Zhen Fund COVII

Zhen Fund COV

Zhen Partners Fund V

Zhen Partners Fund III

Fund Type

Subscribe to see more

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Status

Amount

$4.7M

$3.5M

$18M

$99M

$99M

Sources

1

1

1

10

10

ZhenFund Partners & Customers

2 Partners and customers

ZhenFund has 2 strategic partners and customers. ZhenFund recently partnered with Rocktree Capital on November 11, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

11/26/2019

Partner

Rocktree Capital

United States

1

4/5/2018

Partner

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10

Date

11/26/2019

4/5/2018

Type

Partner

Partner

Business Partner

Rocktree Capital

Country

United States

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News Snippet

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Sources

1

10

ZhenFund Team

3 Team Members

ZhenFund has 3 team members, including current Chief Financial Officer, Chongmi Park.

Name

Work History

Title

Status

Qiang Wang

Founder

Current

Chongmi Park

Chief Financial Officer

Current

Xiaoping Xu

Founding Partner

Current

Name

Qiang Wang

Chongmi Park

Xiaoping Xu

Work History

Title

Founder

Chief Financial Officer

Founding Partner

Status

Current

Current

Current

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