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Forbes named IDG Capital’s Xiaojun Li (#23), Quan Zhou (#78) and Young Guo (#99) to its 2018 Midas List, an annual ranking of the world’s top 100 venture capitalists in high tech and life sciences. Jim Breyer (#57), an early investor in Facebook and a longtime IDG Capital’s strategic advisor, was also on this year’s list. In January, Forbes included two IDG-backed companies, Xiaomi and Meituan-Dianping, on its list of the top 10 companies driving value for investors in 2017.
Ctrip, a Nasdaq-listed online travel service provider, has obtained a license from the Chinese city of Tianjin to launch a nationwide ride-hailing service in China. Ctrip has also been collaborating with other Chinese ride-sharing and car rental operators since 2015. IDG Capital was an early investor in Ctrip which had revenue of $2.9 billion in 2016.
IQiyi, Baidu’s video streaming service, raised $2.25 billion through its recent public offering on Nasdaq. The Bejing-based video platform has close to 60.1 million paying subscriber and 421.3 million active monthly users. IDG Capital joined iQiyi’s $1.53 billion financing round in 2017.
Chinese online entertainment and gaming website Bilibili has raised nearly $500 million through its initial public offering on Nasdaq. The Shanghai-based company currently has 75 million active monthly users, 80 percent of whom are millennials born between 1990 and 2009. Previously, IDG Capital led Bilibili’s Series A funding round and also joined the company’s A+ and B rounds.
Artsy, a New York-based art aggregator website, now averages 2.5 million visitors and $20 million per month in art sales. The nine-year-old startup currently lists 800,000 pieces of art from roughly 80,000 artists who are represented by more than 2,000 galleries around the world. IDG Capital joined Artsy’s $16 million Series B funding round in 2014.
Chinese unicorn SenseTime is pushing the frontiers of artificial intelligence (AI) technology by teaching computers to distinguish between romance and disaster scenes in movies. The company recently demonstrated its image recognition capabilities in an AI-based analysis of the movie Titanic at MIT Technology Review’s EmTech Digital conference in San Francisco. IDG Capital joined SenseTime’s $410 million Series B funding round in 2017.
Motivated by new consumption patterns in China, IDG Capital is now investing in real estate. Recent investments include an elderly care project that combines hospital, rehabilitation centre and villas, an aged care fund aiming to build integrated elderly care community, and the construction of Wuzhen, where the World Internet Conference holds every year.
Chinese smartphone maker Xiaomi, whose early investors included IDG Capital, has launched its first gaming laptop product. Its new Mi Gaming Laptop line will compete with Razer, a San Francisco- and Singapore-based gaming hardware company also backed by IDG Capital.
Cryptocurrency startup Circle is now profitable. The Boston-based startup recently announced it had processed more than $75 billion worth of transactions over a three-month period ending in February, generating $250 million in revenues. IDG Capital led Circle’s Series C and D funding rounds and also facilitated the company’s recent acquisition of Poloniex, another Boston-based startup and one of the largest cryptocurrency exchanges in the world.
Beijing recently issued its first self-driving car license to Baidu, authorizing the company to test-drive autonomous vehicles on city roads. An early investor in Baidu, IDG has also invested in NIO, an autonomous vehicle startup, which recently received permission from the city of Shanghai to conduct open-road tests.
Hangzhou-based artificial intelligence startup Rokid is developing robots, equipped with AI functions for Werewolf, a popular group game. The U.S. patent office recognized Rokid’s AI capabilities in 2017. An angel investor in Rokid, IDG Capital joined the company’s Series A and B funding rounds in 2014 and 2016 and also recently participated in another $100 million financing round.
Wecash, a Beijing-based credit assessment solutions provider, has raised a $160 million for its most recent Series D round. With its 130 million users, Wecash now serves move than 50 financial institutions around the world. In 2014, IDG Capital led Wecash’s $6.6 million Series A funding round.
In partnership with IDG Capital, Jim Breyer, best known as an early investor in Facebook, has been investing in Chinese startups for over a decade. In 2005, Breyer also played a role in the creation of the IDG-Accel fund. The founder of Breyer Capital and now an IDG Capital strategic advisor, Breyer is focused these days on the blockchain industry. He and IDG Capital recently co-invested in Boston-based blockchain startup Circle, which has acquired Pholoniex, a major bitcoin asset exchange.
Gaming hardware manufacturing company Razer has signed a two-year agreement to supply Team Queso, a Spanish mobile e-sports team, with its Razer Phone and other hardware. IDG Capital-Accel China invested $50 million in Razer in 2011. Razer went public in Hong Kong in 2017.
IDG Capital is participating in a $3.78 million Pre-A funding round for Startdt, a Hangzhou-based retail technology service provider that uses big data and cloud-based solutions to manage and integrate online and offline retail activity. The company will use the new funding for talent acquisition, research and product development. Startdt currently has more than 100 clients in a variety of industries, including property management, maternal and child products, apparel and entertainment.