In the past two years, a lot of internal and external events have been affecting how the world reviews China, it also affects how we review ourselves, however, from long-term perspective, we believe the economy always has its own cycle, and it have further assured us that investment requires perseverance through these cycles.

At the same time, we continually have observed that even in these difficult times, there are still many explorers choose to become entrepreneurs. What we see in them is ambition, resilience, and optimism. We hope to walk with them and look forward to seeing the direction they adhere to become the new wave of tomorrow.

As we step into the new year of 2024, we are very pleased to call back the highlights in the year 2023 with you:

- KEEP

On 12th, July, 2023, the first Unicorn in sports Keep Inc. was listed on the Hong Kong Stock Exchange, officially becoming “China’s First Listed Fitness Company "! Ventech China and Keep became acquainted in 2015, and became its A-round leading investor.

- E-Health Now 

In May, Ventech China’s A round portfolio company E-Health Now, officially announced the completion of the B round of financing. The next step for the company is to upgrade its AI digital medical and health service platform.

- UFOU

In June, UFOU, a local vanguard furniture designer brand, announced that it successfully closed its first round of financing from Ventech China. This is the first time that UFOU has brought in investors since its establishment. In Double Eleven, UFOU ranked First on Tmall’s Automatic Lift Table Sales & JD’s Furniture Category’s Top Ten Sales.

- Summer Farm

In October, Summer Farm was awarded as one of the "Top 200 High-Growth High-tech Enterprises in Zhejiang Province in 2023"! In early 2024, Summer Farm successfully completed new financing round. At present, the Summer Farm has covered 130+ cities across the country, providing services to 300,000+ clients. 

- SwitchBot

During the Black Friday, SwitchBot's new product Mini robotic vacuum K10+ took the lead in taking the top 1 spot on the best-selling list of robotic vacuum during the pre-sale period on the Amazon Japan site. IoT line products continued to take four of the top 10 best-selling lists in the DIY tools category. According to Statista data, SwitchBot’s market share in Japan’s Smart Home market has reached 26%.

- Z2D

In November, Lenovo officially releases the world's first 27-inch 4K naked-eye 3D display, which is developed and produced by Z2D. The monitor has a large 27-inch, 4K (2D state, 2K for 3D) screen size and is designed for more immersive creation, connection and collaboration.

The explore of technology innovation: Ventech China RMB Tech Fund adheres to discover early-stage start-ups that have breakthrough technology even in the international market:

- Renxin

Renxin is a start-up focusing on automotive high-speed SerDes chip, has completed the Pre-A+ round in August 2023. In late 2022, Ventech China RMB fund invested in Angel round. It is worth mentioning that Ventech has partially exited this project in this round and achieved a return of nearly 3x.  The rise of domestic automotive chip industry

- Volant

In September, Volant got “VE25-100 Type Certificate”, which is the first passenger manned eVTOL project accepted by the East China Regional Administration of Civil Aviation of China. In December, Volant successfully completed A-round financing. Currently, Volant has received nearly 600 intended orders with approximately US$280 million. 

- ICD

In August, ICD, a domestic cutting-edge display screen chip designer successfully completed Pre-A round of financing. Ventech China is the Angel-round investor in ICD in 2021 and continues to support this round. 

Thrive Growth through People: It is always about  ‘Connection’ & ‘Communication’

• 「Re-learn China, Re-build Confidence, Re-commit Investment」: At the beginning of 2023,  Ventech held an online panel transcending both China and Europe side to explore macro-economic trends, new investment opportunities, and the potential risks that come after the gate's opening.

• 「Rebound Opportunities」: In March, Ventech China gathered first-tier luxury brands, various retail players and online platforms to discuss the rebound opportunities after rapid recovery. The downward impact on the consumption and retail industry has not been eliminated. However, we have observed that the luxury industry has shown strong resilience and strong rebound performance.

• 「Future Consumption: Recovery , Transformation, and Confidence」:In June, at the plenary meeting of the FBIF2023 Forum, a Managing Partner of Ventech China, Mr. Curt Ferguson, together with Mr. Che, Director of Master Kong Beverages and other guests, held a roundtable talk.

We can foresee that the coming year will be full of challenges, but it also heralds more opportunities. 

It is crucial for us to Keep Learning, Being Perseverant, and Stay Optimistic to face the new economy cycle. Let’s forge ahead together.

Meanwhile, we wish you a Dragon Year filled with happiness and good health!