Meituan Dianping, an IDG Capital backed on-demand service provider for food delivery and many other services in China, grew revenue by 44% in Q3 2019 to $3.9 billion. Q3 profits totaled $270 million during the same time frame. The news spurred Meituan’s stock price to rise more than 10% the next day, pushing the company’s market cap to $72.8 billion. Meituan now owns 65.8% of China's food delivery market, according to research firm Trustdata IDG Capital was an early investor in Meituan, which went public on the Hong Kong Stock Exchange in 2018.

IDG Capital joined a $142 million series D+ round of financing in Medbanks, a Beijing-based medical service platform aggregating oncology data. Founded in 2014, Medbanks offers professional tumor database, clinical research support, patient community support and intelligent pathology systems for health institutions. The firm now operates in 30 Chinese provinces. Previously, IDG Capital led Medbanks’ Series C funding round and also joined a $57 million Series D round. Chinese internet leader Tencent, another IDG Capital investment, led Medbanks’ D+ round.