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Chinese venture capital firms inked 209 deals in April with a total value of $15.59 billion, and IDG Capital leader was among the lead investors with five deals valued at $119 million. Recent IDG Capital investments include Informatics, an AI-powered digital pathology company; Castbox, a San Francisco-based global podcast app; PatPat, a cross-border infant product e-tailer; Youxi, which owns and operates Chinese movie-themed hotels; and Easylinkin, which designs Low Powered Wide Area Network (LPWAN) products for wireless communication.
In a wide-ranging interview, Jim Breyer, an early investor in Facebook, discusses why he's now focused on artificial intelligence (AI) in both the U.S. and China. Since first joining forces with IDG Capital in 2005, Breyer, who manages Breyer Capital, and IDG Capital have jointly co-invested in more than 200 Chinese companies.
Ping An Good Doctor, China's leading online healthcare service platform, has raised $1.12 billion in an initial public offering on the Hong Kong Exchange. With 193 million users, the Shenzhen-based company provides medical consultations, health checkups and other healthcare products. IDG Capital joined Good Doctor's 2016 financing round.
Video gaming company Razer recently formed a partnership with Singaporean mobile network operator Singapore Telecommunications (SINGTEL) to begin deploying a digital payment system in Southeast Asia. IDG Capital was an early investor in Razer. The company went public in Hong Kong in 2017.
Cryptocurrency trading platform Coinbase will start offering block trading services on its crypto exchange platform. With a daily trading volume of $315 million, the Coinbase exhange, GDAX, is now the world's ninth largest crypto exchange. IDG Capital was an angel investor in Coinbase.
Half of China's 1.3 billion people resides in rural China and so-called "lower-tier" cities with populations of only several million and are unconnected to the Internet. Pinduoduo, a group-buying e-commerce platform, is now targeting this much neglected market. The platform currently has 156 million monthly active users. IDG Capital has joined Pinduoduo's Series B funding round.
Blockchain-based cryptocurrency fintech firm Circle recently introduced Zcash, an open-source cryptocurrency product to help users manage assets on its Circle Invest platform. IDG Capital led Circle's Series C and D funding rounds.
Infront, a Swiss sports media and entertainment firm, is making an investment in COPA90, a London-based digital football content company.The cash infusion will support COPA90's international expansion into Latin America and China and also improve its audience data analysis. China's Dalian Wanda Group acquired Infront in 2015. IDG Capital is also an investor.
NIO, based in Shanghai and San Jose, has begun delivering its new ES8 electric vehicle. During the 2018 Beijing Auto Show, the ES8, which offers advanced AI-empowered capabilities, attracted massive press attention. IDG Capital joined NIO's Series B+ funding round.
San Francisco-based blockchain firm Ripple has formed partnerships with five financial institutions in three countries-the U.K., Georgia, and Malaysia. The arrangement will help Ripple's partners reduce transaction failure rates and lower processing fees. IDG Capital was an angel investor in Ripple.
IDG Capital participated in the most recent financing round for Lepur, a popular Chinese handmade yogurt brand. Coca-Cola led the round, its first major strategic investment in Asia. The new investment will help Lepur expand its offline distribution channel and also support new product design and distribution.
Nasdaq-listed travel platform Ctrip has announced it will invest in Denver-based jet startup Boom Supersonic. Boom plans to offer flights soon on aircraft capable of flying 1,451 miles an hour, fast enough to reduce the flight time from San Francisco to Shanghai from 11 hours to six. Defined by Ctrip as an "investment in the future", the partnership will also allocate the Shanghai travel service up to 15 seats on Boom's first supersonic flight. IDG Capital was an early investor in Ctrip.
Millennials are increasingly renting and sharing luxury high-end fashion, IDG Capital's Partner Jeacy Yan told the Global Fashion Innovation and Investment Forum in Beijing. IDG Capital has recently invested in two innovative startups: Y-Closet, which offers luxury clothes to share, and second-hand e-commerce site Plum. Previously, IDG Capital also invested in London-based e-tailer Farfetch and Moncler, based in Milan, two leading global fashion companies.
The BUild Lab IDG Capital Student Innovation Center at Boston University (BU) held its first annual IDEA Conference this week. The conference is designed to help BU students explore innovation and entrepreneurship. Both IDG Capital and its global chairman Hugo Shong, a BU alumnus, underwrote the construction of the on-campus lab. Officially launched in February, BUild has already hosted over 70 events for student innovators and entrepreneurs.
IDG Capital, an early investor in cross-platform podcasting app Castbox, has also joined the firm's $13.5 million Series B funding round. Based in Beijing, San Francisco and Hong Kong, Castbox uses natural language processing to help 15 million users search podcast content for specific words. The app now offers its members a total inventory of 50 million podcast episodes and is now also developing its own original content.
As China embraces specialty video streaming, Bilibili, a Nasdaq-listed online entertainment platform offering anime-themed content, is taking a leadership role in the market. IDG Capital invested in Bilibili in 2014 and the company is currently valued at $3.11 billion.