IDG Capital has led a $70 million Series B financing round in ZhenGe Biotechnology, a Contract development and manufacturing organization firm based in Shanghai. Established in 2017, ZhenGe has served over 80 clients for clinical-stage production and investigational new drug application projects. The company’s offerings include treatments towards vaccine products, antibody-drug conjugate and fusion protein. ZhenGe will use the proceeds to develop the construction of manufacturing facilities within Shanghai Pilot Free Trade Zone.

As one of the earliest investor in Chinese search giant Baidu, IDG Capital has joined a funding round in Kunlun, Baidu’s artificial intelligence (AI) semiconductor business, at a valuation of $2 billion. This is another financing support for Baidu’s business after iQiyi and DuerOS. Kunlun 1 chip was developed in 2019 and have been deployed in various businesses, including industrial production, traffic control and smart city . Kunlun 2 chip, which has better performance improvement than Kunlun 1, will also be mass-produced in the second half of 2021.

IDG Capital has co-led a $14 million seed financing round in Delonix Bioworks, a Shanghai-based biotechnology company that develops vaccines with synthetic biology approaches. Delonix's synthetic biology and antigen discovery platforms enable rational design and programming of bacteria into more safe and effective vaccines. Current lead programs target anti-microbial resistance (AMR). The financing will be used to accelerate the building of synthetic biology vaccine platforms and advance pipelines of synthetic vaccines to clinical trials.

Italian luxury apparel manufacturer Moncler is poised for growth, thanks to a focus on China and a push for younger customers through the acquisition of Stone Island. Moncler has also invested heavily in technology, and last year brought its e-commerce business in-house, which means it has better control over its customer base and inventory levels. The Milan-based firm employs 4,569 people and has a market value of €13.2 billion. IDG Capital was an early investor in Moncler, which went public in Milan in 2013.

IDG Capital has co-led a $100 million funding round in Biotheus, a Chinese biotech firm focusing on the treatment of malignant tumors and autoimmune diseases. Founded in 2018, Biotheus has developed a product pipeline of over 10 novel monoclonal and multispecific antibodies. With the new financing, Biotheus plans to further increase investment into research activities, targeting five novel drugs into clinical development and to drive multiple programs into late-stage clinical development.

San Francisco-based bike-sharing provider Lime is investing $50 million in its e-bike business, which includes rolling out new and improved hardware and making the service available in 25 more cities this year. Lime says people took more than 3 million rides on its e-bikes in 2020 amid the coronavirus pandemic, and it expects that number will rise significantly this year. The company plans to roll out new and improved hardware, with its latest e-bike set to come out this summer. IDG Capital joined Lime's Series A funding round in 2017.

Online luxury retailer Farfetch achieved revenue growth by 64% to $1.7 billion in 2020 as locked-down fashionistas shopped from home. CEO José Neves said that in 2020 the firm "cemented our leadership as the largest global online destination for luxury fashion" and highlighted that Farfetch reached profitability in the fourth quarter - a "key milestone" for the company. Farfetch also plans to leverage “our incredible achievements to date and our unique platform capabilities to go after the significant growth opportunities we see” both online and offline. IDG Capital led Farfetch's Series F funding round in 2016. The company went public in 2018.

IDG Capital has led a Series C funding round in Lyvgen, a biopharmaceutical firm focused on oncology immunotherapy. Headquartered in Shanghai, Lyvgen develops proprietary medicines and therapies for lung cancer, melanoma and gastrointestinal cancer. The company said that the proceeds of the latest funding will help accelerate the development and Lyvgen expects the innovative drugs can benefit cancer patients soon.

Italian luxury apparel manufacturer Moncler has acquired the remaining 30% of high-end sportswear maker Stone Island for $419 million. The two Italian brands will continue to remain separate, autonomous entities, but the acquisition will see the brands share information on how to best capture the American and Asian markets, as well as amplifying their DTC (direct-to-consumer) channels for the new luxury customer. IDG Capital was an early investor in Moncler, which went public in Milan in 2013.

Norway-based web browser Opera launches Dify, an in-browser cashback payments solution and standalone wallet. Dify will offer customers in-browser services such as e-commerce cashback integration when shopping through Opera’s partner websites. With 380 million global active users, the company aims to target the younger generations of “power shoppers” with its new Dify app. IDG Capital joined Opera's pre-IPO financing round.

IDG Capital has led a $390 million Series A funding round in Fenbi Education, an ed-tech startup that provides vocational education online and offline. Founded in 2015, Fenbi serves users who prepare for the civil service entrance test, teachers’ qualification certificate and postgraduate exam. Fenbi said the capital will be used to hire talent as well as to develop its products and technology. As of January, the company had accumulated 48 million registered users and 7 million paid users since its inception.

Pony.ai, an autonomous driving startup based in China and Silicon Valley, has raised a $100 million extension to its last funding round. Pony.ai, founded in 2016, makes an autonomous driving system called PonyAlpha aimed at facilitating driverless operations. The company is now valued at $5.3 billion, up from $3 billion in February 2020. IDG Capital was a seed investor in Pony.ai and also joined a $112 million Series A funding round in 2018.

IDG Capital has led a $300 million financing round in the autonomous driving unit of Didi Chuxing, a leading ride-hailing platform based in China. The company started testing and developing autonomous vehicles in 2016 and has gained open-road testing licenses in California, Beijing, Shanghai and Suzhou. Didi’s autonomous driving unit raised over $500 million in May last year.

Chinese electric carmaker Xpeng has started rolling out its new autonomous highway driving feature called the Navigation Guided Pilot. The feature allows drivers to automatically change lanes, speed up or slow down, overtake cars as well as enter and exit highways. Eligible customers can download the new software via WiFi. The Guangzhou-based company is trying to highlight its software and autonomous driving capabilities as a way to differentiate from domestic rivals. IDG Capital co-led Xpeng's $348 million Series B round in 2018.

Huohua Siwei, a Beijing-based firm providing online education services for children aged 3 to 12, has announced the completion of its series E funding round that raised $400 million in total, as online tutoring grows in popularity. The new funding comes at a time when the company tries to expand beyond its key offerings of online math and science courses by developing multi-disciplinary online classes involving Chinese and English language acquisition. IDG Capital joined Huohua’s Series B+ round, another $15 million funding round in 2018 and its Series D equity financing round in 2019.

Chinese e-cigarette company RELX Technology has debuted on the New York Stock Exchange (NYSE) under the symbol “RLX”, becoming the first Chinese e-cigarette brand to start public trading. The market value of the NYSE-debuted company reached $45.8 billion on the debut day. Founded in 2018, the Shenzhen-based company has achieved a market share of 62.6% in China, with about 40% gross profit margin. IDG Capital was an investor in RELX Technology.