Razer, a $438 million global gaming hardware maker, plans to dispense its locally produced masks in Singapore through a network of vending machines across the city-state. Razor is among companies that have modified or set up new factory lines to meet a surge in demand for medical products, with a monthly production of 10 million. The initial five million masks will be free for citizens and residents aged 16 and over. IDG Capital-Accel China invested $50 million in Razer in 2011. Razer, based in Singapore, went public on the Hong Kong Stock Exchange in 2017.

Kingsoft Cloud, a Chinese cloud storage and distribution firm, debuted this week on NASDAQ – with shares rising 40% during its first day of trading. As the only Chinese cloud service company listed in the US, Kingsoft Cloud benefits from a boom in China’s cloud services market. During the company’s initial transformation from cloud storage service, IDG Capital was the earliest external investor in Kingsoft Cloud and has joined its multiple financing rounds since Series B+.

IDG Capital-backed rehabilitation robots developer Fourier Intelligence has completed a Series B+ funding round this week. Fourier currently supplies products to more than 500 hundred hospitals and research institutions in China. The Shanghai-based company said the new funding will boost the company’s capability to deliver innovative, cost-efficient products and services. In 2018, IDG Capital joined Fourier's $4.8 million Series A funding round.

Shanghai-based electronics chips developer ASR Microelectronics has raised $119 million in a Series D+ round of financing, reaching a valuation of over $1.6 billion. ASR designs and develops chips for mobile communication terminals, Internet of Things applications and consumer electronics. In 2018, IDG Capital co-led ASR’s $100 million Series B funding round.

Chehaoduo, one of China’s largest car trading platforms, has raised another $200 million in an extended Series D round of financing. The company has realized profitability in Q4 2019 and said the addition of funding has endorsed the firm’s risk-resistance capacity under the impact of the coronavirus pandemic. Last February, the company’s valuation exceeded $9 billion. IDG Capital joined Chehaoduo's Series C round in 2018.

NIO, a Shanghai-based manufacturer of electric autonomous vehicles, has received $1 billion investment from state-owned companies in Hefei. Besides its current factory operation in Heifei, the company also agreed to establish headquarters in Hefei with R&D, sales, service and supply chain. NIO said this decision enables it to improve operational efficiency and to sustain its growth and competitiveness in the long run. Previously, IDG Capital joined the firm's Series B+ funding round.

Guangzhou-based electric vehicle (EV) startup Xpeng unveiled its P7 sports sedan, which has become the longest-range electric vehicle currently made in China. “Today is a milestone in the 5-year history of Xpeng Motors,” said He Xiaopeng, Chairman & CEO of Xpeng, “The P7’s launch solidifies Xpeng Motors’ leading position in China’s smart EV market.” The company said that the P7 also had the strongest autonomous driving architecture among production vehicles in China. Previously, IDG Capital co-led Xpeng's $348 million Series B round in 2018.

The Delaware Public Employees’ Retirement System committed $30 million to IDG China Venture Capital Fund VI, a venture capital fund managed by IDG Capital. The $11 billion pension fund devotes 13.39% of its full investment portfolio to private equity. Previously in 2017, Delaware’s $10.4 billion fund, which has offices in the city of Dover, also committed up to $30 million to IDG China Venture Capital Fund V.

Razer, a San Francisco- and Singapore-based manufacturer of gaming peripherals, has launched a new Razer Blade Stealth 2020 model. That model is aimed more at content creation professionals, but both displays cover 100% of the sRGB space and are calibrated from the factory to deliver accurate colors. IDG Capital-Accel China invested $50 million in Razer in 2011. Razer went public on the Hong Kong Stock Exchange in 2017.

Huohua, a Beijing-based online education platform specialized in math and science teaching, has received $30 million investment from Kuaishou, a Beijing-based short video app. As of August 2019, the education startup has attracted over 60,000 students and about 1,800 teachers. Previously, IDG Capital joined Huohua’s Series B+ round, another $15 million funding round in 2018 and its Series D equity financing round in 2019.

Boston-based cryptocurrency fintech firm Circle said the firm had seen growing interest and growth in USDC, a stablecoin Circle issued in partnership with San Francisco-based cryptocurrency exchange Coinbase. New signups have come from diverse sectors, including e-commerce marketplaces, advertising networks, peer-to-peer lending platforms and more. According to CoinMetrics, USDC’s market capitalization has jumped 65 to $734 million at press time. IDG Capital was the lead investor in Circle’s Series C and Series D funding rounds and was also an angel investor in Coinbase.

Forbes has named IDG Capital’s Xiaojun Li (#19) and Young Guo (#85) again to its 2020 Midas List, an annual ranking of the world’s top 100 venture capitalists. Besides seven portfolio public offerings, including online entertainment firm BiliBili and social e-commerce company Pinduoduo, Li retains his place in the top 20 with two more exits: AMEC and Amlogic, both of them semiconductor companies that listed on the Shanghai Stock Exchange last year. Guo retains his place with his investment in autonomous vehicle firms: multi-billion-dollar Silicon Valley startups Zoox and Pony.ai raised a combined $700 million.

Autonomous driving startup Pony.ai is collaborating with Los Angeles-based e-commerce platform Yamibuy to launch an autonomous delivery service in Irvine, California. Through the partnership, Pony.ai will use its autonomous fleets to deliver packages and groceries to Yamibuy customers. It’s the first time the Fremont-based firm has deployed its vehicles for goods delivery and each robo-taxi is expected to carry about 100 orders a day. Previously, IDG Capital was a seed investor in Pony.ai and also joined its Series A funding round.

IDG Capital has donated 10,000 protective masks to Olympique Lyonnais, a French professional football club based in Lyon, for the area's emergency needs. The club has distributed the masks to several beneficiaries in Lyon, including the Rhone Red Cross and the Alynea association. In 2016, IDG Capital took a 20 percent stake in Olympique Lyonnais for $110 million.

Bilibili, an IDG Capital-backed Chinese video-sharing platform, has received $400 million investment from Japanese multinational conglomerate Sony Corporation for 4.98% stake. With over 130 million users, Bilibili targets China’s Generation Z market, which comprises people born between 1990 and 2009. Bilibili and Sony say they will pursue collaboration opportunities in China’s entertainment sector, including animation and mobile game apps. Prior to Bilibili’s listing on Nasdaq, IDG Capital led Bilibili's Series A funding round and also joined its A+ and B rounds.

IDG Capital has joined a $51 million Series A round in ZhenGe Biotech, a Shanghai-based macromolecular pharmaceutical contract development and manufacturing organization (CDMO). Founded in 2017, Zhenge Biotech has hired more than 110 employees, including seven scientists and engineers educated overseas. The company will use the proceeds to expand its Shanghai R&D center and build a GMP production base in Shanghai, as well as expanding its US lab.