Loyal Valley Capital (LVC) is a private equity firm based in Shanghai, China, established in 2015. It specializes in growth investments in middle market companies, focusing on sectors that are poised for transformation in the Chinese market, particularly in consumer technology, healthcare, and advanced manufacturing. With over $1.6 billion in assets under management, LVC employs a rigorous research-driven investment process that combines top-down and bottom-up analysis to identify promising investment themes. The firm aims to act as a trusted shareholder, driving value creation and growth through strategic initiatives supported by a robust network of business leaders. LVC manages capital for a diverse group of international institutional investors, including sovereign wealth funds and family offices, as well as prominent entrepreneurs associated with China's Fortune 500 companies. The firm was founded by Andy Lin, who has a notable background in investment and entrepreneurship.
Managing Director and Head of Healthcare Investments
Lisa Ye
Partner
Yang Yi
Executive Director
Jason Zhao
Managing Director
Past deals in Shanghai
Surgerii Technology
Series C in 2023
Beijing Surrey is a technology company founded by an industry elite active in China's medical equipment. Relying on the core technology of the new generation of flexible continuum robotic arm, running through the implementation paradigm of many types of clinical minimally invasive surgery, and harnessing the powerful system design and integration capabilities, Beijing Shurui is committed to becoming the first independent independent research and development, production and sales in China.
Medilink Therapeutics
Series B in 2022
MediLink Therapeutics is a biotechnology company based in Suzhou, China, specializing in the development of next-generation antibody-drug conjugates (ADCs). The company aims to address significant unmet medical needs in China by creating innovative therapeutics that target cancer while minimizing damage to healthy cells. MediLink Therapeutics is committed to enhancing patient outcomes through its research and development efforts, which include conducting multicenter clinical trials and engaging in cross-border collaborations to generate global value. By focusing on ADCs, the company strives to improve the efficacy of cancer treatments while ensuring patient safety during therapy.
Leads Biolabs
Series C in 2021
Leads Biolabs is a biotechnology company focused on developing innovative antibody-based therapeutics to address unmet medical needs in oncology and immunological diseases. Founded in 2014 and headquartered in China, the company has established a strong research and development pipeline featuring over ten projects centered on monoclonal and bispecific antibodies for cancer immunotherapy. By concentrating on tumor immunotherapy, Leads Biolabs aims to enhance treatment outcomes and access for patients globally, thereby improving their medical conditions and overall quality of life.
EdiGene
Series B in 2021
EdiGene Inc. is a biotechnology company based in Beijing, China, with additional offices in Guangzhou and Cambridge, Massachusetts. Founded in 2015, EdiGene specializes in the development of advanced genome editing technologies aimed at addressing various genetic diseases and cancer. The company focuses on both ex vivo and in vivo gene-editing therapies, utilizing proprietary platforms for modifying genetic information in human cells. Their innovative approaches include gene knockout, knock-in, and targeted mutations, which facilitate the creation of safer and more effective gene therapies. EdiGene also supports pharmaceutical research by providing high-throughput genome screening and drug target analysis, enhancing drug discovery efforts in the industry. Through its commitment to translating genome editing into therapeutics, EdiGene aims to improve human health outcomes and advance scientific research.
Arctic Vision
Series B in 2021
Arctic Vision is a clinical-stage specialty ophthalmology company based in China, focused on developing innovative therapies to address unmet clinical needs in the treatment of ophthalmic diseases. The company boasts a portfolio of breakthrough technologies aimed at providing effective solutions for patients with rare eye conditions. Founded by prominent life sciences investors, Arctic Vision is led by an experienced team of industry veterans skilled in research and development as well as the commercialization of eye care products. Its commitment to advancing ophthalmic medicine positions it as a key player in both the Asian and global markets.
Medilink Therapeutics
Series A in 2021
MediLink Therapeutics is a biotechnology company based in Suzhou, China, specializing in the development of next-generation antibody-drug conjugates (ADCs). The company aims to address significant unmet medical needs in China by creating innovative therapeutics that target cancer while minimizing damage to healthy cells. MediLink Therapeutics is committed to enhancing patient outcomes through its research and development efforts, which include conducting multicenter clinical trials and engaging in cross-border collaborations to generate global value. By focusing on ADCs, the company strives to improve the efficacy of cancer treatments while ensuring patient safety during therapy.
CARsgen Therapeutics
Series C in 2020
CARsgen Therapeutics, Ltd. is a clinical-stage immunotherapy company based in Shanghai, China, focused on developing chimeric antigen receptor T-cell (CAR-T) therapeutics for various cancers, including liver, lung, stomach, and brain cancers. The company specializes in CAR-T technology that enables T cells to target and destroy cancer cells by recognizing specific cell surface proteins. Notably, CARsgen’s therapies are designed to treat late-stage hepatocellular carcinoma (HCC) and lung squamous cell carcinoma. The company has also made significant advancements in clinical trials, having completed the world's first dose-ascending injection tests for HCC and exclusive tests for glioblastoma multiforme (GBM) in China. CARsgen collaborates with institutions such as the Shanghai Cancer Institute and Shanghai Renji Hospital, and is supported by prominent venture capital funding, positioning it to introduce innovative cancer treatments both in China and globally.
Sinovent
Series C in 2020
Sinovent Inc. is a biopharmaceutical company established in 2016, with its headquarters in Suzhou, China, and additional offices in Beijing and Boston. The company focuses on developing innovative treatment methods through its advanced biotechnology platform and extensive management experience. Sinovent aims to address global healthcare challenges by combining expertise in science, management, and finance. Currently, it has 12 products in development, primarily targeting oncology, autoimmune diseases, and infectious diseases.
JW Therapeutics
Series B in 2020
JW Therapeutics (Shanghai) Co., Ltd. is a biotechnology company based in Shanghai, China, that specializes in developing, manufacturing, and promoting cell-based immunotherapies aimed at treating cancer. The company leverages advanced technologies, including chimeric antigen receptor (CAR) and T cell receptor (TCR) therapies, to enhance the body's immune response against cancer. JW Therapeutics focuses on addressing both hematological cancers and solid tumors, with its leading product candidate being relmacabtagene autoleucel, designed as a potential superior anti-CD19 CAR-T therapy. The company's mission is to improve patient outcomes and quality of life for those battling cancer through innovative treatment solutions.
HYGEIA Healthcare Group
Private Equity Round in 2020
Hygeia Healthcare Group is a leading oncology-focused healthcare group in China. The company operates its own hospitals, provides third-party radiotherapy service, and manages partner hospitals. Its core business consists of 7 oncology hospitals and 3 managed hospitals in in 6 provinces in China. In addition, the company provides services to 15 hospital partners (including managed hospitals) in 9 provinces of China on its radiotherapy centers.
Mabwell Biotech
Series A in 2020
Mabwell Biotech is a Chinese innovative biopharmaceutical company based in Shanghai Zhangjiang Hi-Tech Park. Since its establishment in 2017, it has absorbed and newly established nine biopharmaceutical R&D and production enterprises. At present, the company focuses on the development and manufacturing of macromolecular drugs such as therapeutic monoclonal antibodies and long-acting recombinant proteins. There are more than thirty varieties of drugs at different stages of development covering tumor, autoimmunity, anti-infection and ophthalmic diseases. Among them, six of them have entered the clinical stage, and three of them are in Phase III clinical trials.
POP Mart
Series F in 2020
Pop Mart is a Chinese company specializing in the design, development, and retail of designer toys, particularly in the pop culture and entertainment sectors. It operates an integrated platform that encompasses the entire industry chain of these collectibles. The company sells its products primarily through retail stores, but also generates revenue from roboshop sales, wholesale, and online channels. Pop Mart's operations are divided into two main segments: Mainland China and the regions of Hong Kong, Macao, Taiwan, and other international markets. By leveraging a diverse sales strategy, Pop Mart aims to enhance its presence in both domestic and overseas markets.
Perfect Diary
Venture Round in 2020
Perfect Diary is an e-commerce-based cosmetic brand. The company is committed to exploring the trends in international cosmetics and the frontiers of fashion to provide easy-to-use cosmetics products for young Asian women.Perfect Diary is professional in branding and online traffic management. By launching co-branded cosmetic products with KOLs, idols and even some famous organizations like the British Museum
Abbisko Therapeutics
Series C in 2020
Abbisko Therapeutics Co. Ltd. is a clinical-stage biopharmaceutical company based in Shanghai, China, focused on discovering, developing, and manufacturing innovative immuno-oncology therapies. Founded in 2016 by a team with extensive experience in drug research and management, the company specializes in small molecule therapies for various conditions, including cancer, metabolic diseases, liver diseases, viral infections, and central nervous system disorders. Abbisko's notable products include ABSK011 and ABSK021, which are designed to treat hepatocellular carcinoma, as well as CSF1R, aimed at addressing solid tumors. The company is dedicated to advancing its pipeline of therapeutics to improve patient outcomes in oncology and beyond.
RemeGen
Venture Round in 2020
RemeGen, Ltd. is a biopharmaceutical company based in Yantai, Shandong Province, China, specializing in the research, development, manufacture, and commercialization of novel biologics, particularly monoclonal antibodies and antibody-drug conjugates. The company focuses on addressing unmet medical needs for patients with life-threatening conditions, offering products such as Telitacicept for systemic lupus erythematosus and Disitamab Vedotin for various cancers. RemeGen's innovative therapies target major diseases, including autoimmune disorders, oncology, and ophthalmology. With additional laboratories and offices in Beijing and California, RemeGen primarily operates in China while also maintaining a presence in the United States, where it derives a significant portion of its revenue.
Akeso Biopharma
Series D in 2019
Akeso Biopharma, based in Zhongshan, China, operates as a contract research organization (CRO) specializing in the discovery and development of antibody and protein drugs. Founded in 2012, the company provides comprehensive CRO services to both domestic and international pharmaceutical clients, focusing on areas such as protein expression, antibody generation, assay development, and humanization. Akeso has developed an extensive biopharmaceutical research and development platform, with a robust product pipeline that includes over 30 drugs targeting cancers, autoimmune diseases, inflammation, and cardiovascular conditions. Among these, 17 drugs have progressed to clinical stages, including two first-in-class bi-specific antibody drugs. The company collaborates with various pharmaceutical firms to innovate and develop new drug candidates, establishing itself as a leader in the industry through its advanced facilities and expertise.
Mahua Fun Age
Post in 2019
Happy Twist, the largest drama agency in China, was founded in 2003 and has created a large amount of popular dramas, including “Clown Loves Beauty”, “Count of Mountain Wulong”, “Dream of those Years”, etc. In Oct 2015, Happy Twist’s first movie, “Xialuo’s trouble” earned nearly 1.5 billion RMB box office with 20 million RMB production cost. In Oct 2016, its second movie, “Donkey water” came into existence and achieved a high reputation. With more than 20 high quality original shows (IPs owned by the company), Happy Twist had over 1,600 tour shows across China in 2016.
NetEase Cloud Music
Private Equity Round in 2019
NetEase Cloud Music operates an online music platform and offers streaming services. It also develops music applications for smartphones. William Lei Ding founded NetEase Cloud in 2013, with its headquarters in Beijing in China. NetEase Cloud Music operates as a subsidiary of NetEase.
EVE Energy
Private Equity Round in 2019
EVE Energy Co., Ltd., established in 2001 and headquartered in Huizhou, China, specializes in the development, production, and sales of lithium batteries. The company offers a diverse range of products, including lithium primary batteries, such as lithium thionyl chloride and lithium-manganese dioxide batteries, as well as various types of lithium-ion batteries, including cylindrical, pouch, and prismatic cells. EVE Energy also provides power systems for electric vehicles and energy storage solutions, catering to applications in smart homes, telecommunications, and emergency preparedness. As a national high-tech enterprise, EVE Energy has positioned itself as a leader in the lithium primary battery sector in China and is recognized globally for its expertise in lithium thionyl chloride battery manufacturing. The company has invested significantly in energy storage technologies, employing advanced manufacturing techniques to enhance service delivery to its clients.
Abbisko Therapeutics
Series B in 2019
Abbisko Therapeutics Co. Ltd. is a clinical-stage biopharmaceutical company based in Shanghai, China, focused on discovering, developing, and manufacturing innovative immuno-oncology therapies. Founded in 2016 by a team with extensive experience in drug research and management, the company specializes in small molecule therapies for various conditions, including cancer, metabolic diseases, liver diseases, viral infections, and central nervous system disorders. Abbisko's notable products include ABSK011 and ABSK021, which are designed to treat hepatocellular carcinoma, as well as CSF1R, aimed at addressing solid tumors. The company is dedicated to advancing its pipeline of therapeutics to improve patient outcomes in oncology and beyond.
Innocare
Private Equity Round in 2019
InnoCare is a biopharmaceutical company based in China, focused on discovering, developing, and commercializing innovative treatments for cancer and autoimmune diseases. The company boasts a skilled scientific team with extensive experience in drug innovation from both the U.S. and China, supported by an accomplished Scientific Advisory Board comprised of experts from prominent universities, hospitals, and the pharmaceutical sector. InnoCare's product pipeline includes several key therapies, such as orelabrutinib, ibrutinib, zanubrutinib, and tafasitamab, targeting hematological tumors, solid tumors, and autoimmune disorders. The company is also dedicated to addressing autoimmune diseases linked to abnormal B-cell or T-cell functions, positioning itself as a leader in advancing medical treatments and tackling complex health challenges.
Linklogis
Series C in 2018
Linklogis is a technology solution provider for supply chain finance in China, focusing on developing a financial service platform that integrates big data, artificial intelligence, and blockchain technology. This platform facilitates direct connections between asset holders and funding sources, enabling small-sized companies to access financing more conveniently. Linklogis operates in two primary segments: Supply Chain Finance Technology Solutions, which includes offerings like Anchor Cloud and FI Cloud, and Emerging Solutions, comprising Crossborder Cloud and SME credit tech solutions. The company's mission is to enhance the efficiency of supply chain financing while aiming to become a leading financial services provider in China.
Teligene
Series C in 2018
Teligene Ltd. is a pharmaceutical research and development company based in Jiangsu, China, established in 2011. The company specializes in the development of small-molecule drugs, particularly innovative treatments for oncology. Teligene's focus is on the research, development, and industrialization of small molecule targeted anti-tumor drugs, utilizing advanced drug development technologies. The experienced management team is well-versed in contemporary trends and practices in drug development both domestically and internationally. Teligene aims to create original anti-tumor drugs with independent intellectual property rights, addressing emerging areas of research and development in the pharmaceutical field.
Shanghai Henlius Biotech
Venture Round in 2018
Shanghai Henlius Biotech, Inc. is a biopharmaceutical company based in Shanghai, China, specializing in the research, development, production, and commercialization of biologics, particularly monoclonal antibody (mAb) biosimilars and novel therapies. Founded in 2010, the company focuses on oncology and autoimmune diseases, offering products such as HLX01, a biosimilar for treating non-Hodgkin lymphoma. Henlius is actively advancing its pipeline, with multiple products under review for regulatory approval, alongside conducting numerous clinical studies for various therapies. The company collaborates with partners, including agreements to develop treatments for COVID-19 and eye diseases. Shanghai Henlius Biotech is a joint venture between Shanghai Fosun Pharmaceutical and Henlius Biopharmaceuticals, established in 2009, and operates out of the Shanghai Caohejing High-Technology Park.
Sinovent
Series A in 2018
Sinovent Inc. is a biopharmaceutical company established in 2016, with its headquarters in Suzhou, China, and additional offices in Beijing and Boston. The company focuses on developing innovative treatment methods through its advanced biotechnology platform and extensive management experience. Sinovent aims to address global healthcare challenges by combining expertise in science, management, and finance. Currently, it has 12 products in development, primarily targeting oncology, autoimmune diseases, and infectious diseases.
Children's House Of Virtues
Venture Round in 2018
The #1 international kindergarten in Beijing
JW Therapeutics
Series B in 2018
JW Therapeutics (Shanghai) Co., Ltd. is a biotechnology company based in Shanghai, China, that specializes in developing, manufacturing, and promoting cell-based immunotherapies aimed at treating cancer. The company leverages advanced technologies, including chimeric antigen receptor (CAR) and T cell receptor (TCR) therapies, to enhance the body's immune response against cancer. JW Therapeutics focuses on addressing both hematological cancers and solid tumors, with its leading product candidate being relmacabtagene autoleucel, designed as a potential superior anti-CD19 CAR-T therapy. The company's mission is to improve patient outcomes and quality of life for those battling cancer through innovative treatment solutions.
Fortune Finance
Venture Round in 2017
Leading financial and insurance technology company in China
Gaosi Education Group
Series C in 2017
Gaosi Education Group is a Chinese educational and training institution. It is a domestic extracurricular tutorial institution that provides services for middle and primary schools. Gaosi Education Group offers courses for gifted children from primary school to junior high school. It has set up personalized one-to-one teaching centers, where mathematics competitions for primary, secondary, and high schools are one of the featured courses. Gaosi currently has nearly 10,000 students and 100 full-time teachers and personnel of teaching and researching teams. The institution was founded in December 2009 and is headquartered in Gaosi Education Building, Wudaokou, Haidian District, Beijing.
Linklogis
Series B in 2017
Linklogis is a technology solution provider for supply chain finance in China, focusing on developing a financial service platform that integrates big data, artificial intelligence, and blockchain technology. This platform facilitates direct connections between asset holders and funding sources, enabling small-sized companies to access financing more conveniently. Linklogis operates in two primary segments: Supply Chain Finance Technology Solutions, which includes offerings like Anchor Cloud and FI Cloud, and Emerging Solutions, comprising Crossborder Cloud and SME credit tech solutions. The company's mission is to enhance the efficiency of supply chain financing while aiming to become a leading financial services provider in China.
Pipilu
Series B in 2017
Pipilu is a company based in China that specializes in providing entertainment content and products for children. It focuses on producing original publications, movies, animations, and various consumer products designed to engage and entertain young audiences. By prioritizing quality in its offerings, Pipilu aims to deliver enriching and enjoyable experiences for children through its diverse range of entertainment options.
iDreamSky Technology
Private Equity Round in 2017
iDreamSky Technology is a Shenzhen-based company founded in 2009, recognized as a leading smartphone application developer in China. The company specializes in the game publishing market, offering a diverse portfolio that includes role-playing games, endless running games, matching puzzle games, and casual competition games. iDreamSky operates a digital entertainment platform that focuses on providing game and information services, catering to both developers and gamers. The company has established significant partnerships with major clients such as Lenovo, China Telecom, and HTC. In 2011, it received a seed investment to launch Skynet, a one-stop solution aimed at helping game developers expand and establish their presence in the Chinese market.
Luogic Thinking
Series C in 2016
Luogic Thinking is China’s #1 online producer of educational podcasts.
Shanghai Junshi Biosciences
Venture Round in 2016
Shanghai Junshi Biosciences Co., Ltd. is a biopharmaceutical company based in Shanghai, China, focusing on the discovery, development, and commercialization of innovative drugs. The company operates in various therapeutic areas, including oncology, metabolic disorders, autoimmune diseases, and neurologic conditions. Junshi's notable products include JS001, a recombinant humanized anti-PD-1 monoclonal antibody marketed as TUOYIR for several cancers, and UBP1211, a biosimilar of Humira currently in Phase I clinical trials for rheumatoid arthritis and related conditions. Additionally, the company is advancing other drug candidates, such as JS002, a monoclonal antibody for hyperlipidemia, and several others in early-phase trials targeting various diseases. Junshi has established collaborations with leading pharmaceutical companies, including Eli Lilly and Merck, to develop therapeutic antibodies and explore new treatment combinations. Founded in 2012, Shanghai Junshi Biosciences is committed to addressing unmet medical needs through its extensive research and development initiatives.
China Mercy Health Group
Series A in 2016
China Mercy Health Group, founded by Liu Xiaocheng, focuses on enhancing the operational efficiency of medical institutions in China. Originating from the TEDA International Cardiovascular Hospital, which is recognized as a top-tier cardiovascular facility, the group offers a comprehensive range of services. These include hospital architecture and design, management consultancy, training for hospital staff, and procurement and logistics for medical devices and drugs. By providing these specialized services, China Mercy Health Group aims to create healthier environments for patients and improve the overall quality of healthcare in the region.
Wenzhou Kangning Hospital
Private Equity Round in 2016
Kangning Hospital is a specialized mental health center in China that focuses on providing comprehensive medical care for patients with various mental disorders. The hospital offers a wide range of services, including forensic psychiatry, women's psychiatry, addiction treatment, geriatric psychiatry, and mental health services. It also features specialized clinics for depression and sleep disorders, as well as a child and adolescent psychology center. Additionally, Kangning Hospital provides teleconsultation services to ensure accessible care for its patients. The organization operates a network of healthcare facilities, generating revenue primarily through its hospitals and related healthcare services.
Linklogis
Series A in 2016
Linklogis is a technology solution provider for supply chain finance in China, focusing on developing a financial service platform that integrates big data, artificial intelligence, and blockchain technology. This platform facilitates direct connections between asset holders and funding sources, enabling small-sized companies to access financing more conveniently. Linklogis operates in two primary segments: Supply Chain Finance Technology Solutions, which includes offerings like Anchor Cloud and FI Cloud, and Emerging Solutions, comprising Crossborder Cloud and SME credit tech solutions. The company's mission is to enhance the efficiency of supply chain financing while aiming to become a leading financial services provider in China.
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