Zhihe Bio Raises Tens of Millions in Pre-A Funding to Advance New Quality Productive Forces, with WinX Capital as Exclusive Financial Advisor

May 20, 2024 08:00 CST Updated 08:00

ZhiHe Biotechnology

Synthetic Biology Manufacturer of Lipid Chemicals

SUNZ FUND

Professional Institutions with Fund Management Qualifications

Shunwei Capital

Venture Capital Institution

dingxin capital

Venture Capital Institution

WinX Capital

Investment Institutions in the Greater Health Field

VCBeat learned at the earliest opportunity that, in recent days,ZhiHe Biotechnology (Changzhou) Co., Ltd. (hereinafter referred to as “ZhiHe Biotechnology”) announced the completion of its Pre-A financing round, raising tens of millions of yuan. The round was jointly invested by Changzhou High-Tech Zone Science and Technology Talent Fund, Xingkong Capital, Yinxinggu Capital, Sunz Venture Capital, Dingxin Capital, and Unifortune Group, with existing shareholder Shunwei Capital continuing to increase its investment. WinX Capital served as the exclusive financial advisor for this financing round.

Oils and fats, as a category of nutritional chemicals, are widely used in food, health supplements, pharmaceuticals, animal feed, and other fields. The global market size reaches hundreds of billions, and with rapid economic development and rising living standards, the market holds immense growth potential.

ZhiHe Biotechnology leverages technologies such as synthetic biology to focus on the microbial manufacturing of lipid-based chemicals. Since its establishment, ZhiHe Biotechnology has built a full-chain synthetic biology manufacturing platform encompassing strain development, fermentation control, and separation and purification. Targeting lipid products, the company has established a directed breeding platform for high-yield strains and constructed various types of high-yield chassis cells. This has overcome challenges such as the difficulty of directional regulation and low yields in the biosynthesis of lipid compounds, significantly optimizing manufacturing processes.

ZhiHe Biotechnology will continue to focus on human and societal health and sustainable development, continuously developing oleochemicals closely related to human and animal nutrition, accelerating disruptive transformations in the manufacturing processes of oleochemicals, striving to achieve breakthroughs in and commercialize original, forward-looking, and revolutionary technological innovations, and accelerating the development of new quality productive forces.

The company has previously settled into the Changzhou Institute of Synthetic Biology at Nanjing Normal University. Established in April 2023, the Institute is a new-type R&D institution jointly founded by Nanjing Normal University and the Xinbei District of Changzhou City, integrating technological R&D, achievement transformation, enterprise incubation, and capital operation. The Institute aims to continuously introduce innovative enterprises, talent, and cutting-edge synthetic biology technologies to Changzhou, and has now established an innovation chain spanning from key technological innovations at the industrial frontier to the incubation and transformation of achievements, and finally to green industry demonstration.

Photos from the Signing Ceremony

The signing ceremony for the ZhiHe Biotechnology project was successfully held at the launch event of the Yangtze River Delta Synthetic Biology Innovation and Entrepreneurship Competition, which took place recently. Attendees included Sheng Lei, Mayor of Changzhou; Huang He, Academician of the Chinese Academy of Engineering and Vice President of Nanjing Normal University; and Roger Kornberg, Nobel Laureate in Chemistry and President of the World Laureates Association. The signing of this agreement marks a further strengthening of exchange and cooperation in the synthetic biology industry in Changzhou and the Yangtze River Delta region, jointly creating a new pattern of coordinated regional development in synthetic manufacturing.

Regarding the Changzhou High-Tech Zone Science and Technology Talent Incubation Guidance Fund

Changzhou National Hi-Tech District Science and Technology Talent Incubation Guidance Fund is an angel fund established by Changzhou National Hi-Tech District to invest in and attract high-quality talent and cultivate hardcore innovative teams. With a scale of RMB 500 million, the fund focuses on investing in the “Two Specialties, Three New Industries, and One Intelligence” sectors—namely smart new energy, new materials, new energy vehicles and core automotive components, next-generation information technology, new pharmaceuticals and medical devices, and high-end intelligent equipment manufacturing—as well as laying out future industries. By integrating resources in talent, technology, capital, and policy, the fund aims to boost the growth of talent-led entrepreneurial projects and promote the high-quality economic development of Changzhou National Hi-Tech District.

About Xingkong Capital

Starry Sky Capital focuses on early-stage investments in the pharmaceutical, healthcare, and life sciences sectors. The team combines extensive equity investment experience with deep professional expertise in biomedicine. Through years of investment practice, it has accumulated rich project experience and valuable industry resources, developing a profound understanding of the sector and superior investment capabilities. It has invested in numerous outstanding enterprises in innovative medicine, biotechnology, and related fields, covering cardiovascular and cerebrovascular drugs, anti-tumor drugs, innovative vaccines, radiopharmaceuticals, assisted reproductive technologies, AI-driven drug discovery, CGT, AIGC, biopharmaceuticals, and interventional medical devices.

About Yinxinggu Capital

Yinxinggu Capital was established in 2013. Initiated by a leading enterprise in China’s manufacturing sector and founded by an investment team with deep expertise in the semiconductor industry, it began its journey exploring digital manufacturing. It has since grown into a top-tier domestic institution focused on early-stage investments in technology and data. The investment team has incubated over 300 early-stage technology companies, with more than 20 going public. In the life sciences sector, it has invested in nearly 20 enterprises, including Sizherui, Qitan Technology, and Element Drive. Yinxinggu Capital serves as the chair unit of the Zhejiang Angel Investment Professional Committee and has been consecutively ranked among the Top 30 Early-Stage Investors in China by Zero2IPO and CVSource, as well as in the Top 10 Early-Stage Venture Capital Firms for Best Returns.

About Sunz Venture Capital

Sunz Venture Capital, established in 2008, is a council member of the Venture Capital Professional Committee of the China Investment Association and a council member of the Pharmaceutical Chamber of Commerce of the All-China Federation of Industry and Commerce. It also serves as a vice-presidential unit of the Guangdong Venture Capital Promotion Association and the Hunan Equity Investment Association. The company focuses on investments in forward-looking sectors such as healthcare and technological innovation, covering multiple stages including start-up, growth, and development phases. It has built a comprehensive investment operation and management ecosystem. Sunz Venture Capital has been recognized as one of the “Top 100 Best Venture Capital Firms in China” by VCBeat; one of the “Top 30 Best Healthcare Investment Firms in China,” “Top 50 Best VC Funds in China,” and “Top 50 VC Funds with Best Returns” by the China Fund of Funds Alliance; one of the “Top 10 Most Influential Private Equity Firms in Hunan”; the “Best VC Firm” at the Securities Times China Venture Capital Golden Eagle Awards; and one of the “Top 100 Venture Capital Firms in China” by Zero2IPO. Committed to providing personalized value-added investment and operational services to portfolio companies, Sunz Venture Capital adheres to the philosophy of “San Sheng Wan Wu, Ze Run Zhong Sheng” (From Three Come All Things; Benefiting All Beings), diligently safeguarding corporate development.

About Dingxin Capital

Dingxin Capital, established in 2014, boasts a core team with profound composite backgrounds in finance and industry. Guided by the corporate mission of driving social progress through investment, Dingxin Capital focuses on early-stage, specialized investments in healthcare and hard technology. It has led or participated in the early-stage financing of over 40 high-quality projects, earning recognition on prestigious industry lists such as “China’s Best Early-Stage Venture Capital Firms,” “Best Investment Institutions in Healthcare,” and “China’s Best Early-Stage Investment Institutions in Semiconductors and Integrated Circuits.” Currently, Dingxin Capital’s cumulative assets under management exceed RMB 10 billion. Its limited partners include institutional investors such as government guidance funds, insurance companies, listed companies and their shareholders, large enterprise groups, and market-oriented fund-of-funds. In 2021 and 2022, Dingxin Capital was consecutively rated as a Class A equity fund manager for insurance capital investment, the highest annual rating category.

About Unifortune

Unifortune Group was established in 2011. Upholding the philosophy of “integrating industry with finance and serving the nation through real economy,” it has deeply participated in China’s economic development and industrial upgrading, striving to become a comprehensive holding group that drives innovation through technology and serves the real economy. Unifortune focuses on asset management and investment businesses, including equity investment, industrial investment, and special opportunity investment. The group owns several member enterprises, such as Unifortune Investment Fund Management Co., Ltd., which focuses on pharmaceuticals, medical technology, advanced manufacturing, and new energy, as well as China Xinxing Asset Management Co., Ltd., a mixed-ownership reform enterprise. In the healthcare sector, Unifortune strategically invests in high-quality segments such as innovative drugs, innovative medical devices and equipment, medical services, and health technology. Its portfolio includes premium projects such as Mabwell, Bette Pharmaceuticals, Tsingke Biotechnology, and Zhonghui Yuantong.

About Shunwei Capital

Shunwei Capital was founded in 2011 by Mr. Lei Jun and Mr. Xu Dalai. It currently manages dual-currency funds in USD and RMB with a total scale of nearly $6 billion. Its limited partners primarily consist of global top-tier institutional investors, including sovereign wealth funds, family offices, funds of funds, and university endowments. Shunwei Capital focuses on key sectors such as deep technology, intelligent manufacturing, Internet Plus, smart hardware, consumer goods, enterprise services, and the electric vehicle ecosystem. The firm has invested in over 600 outstanding companies, with notable portfolio companies including Xiaomi Corporation, Ninebot, Southchip Technology, iQIYI, NIO, Roborock, and Lalamove. Through investing in visionary enterprises from the early to growth stages, Shunwei Capital aims to make our lives better.

About WinX Capital

WinX Capital is a leading investment bank in China’s healthcare sector, headquartered in Beijing and Shanghai, with coverage of over 3,000 active institutional investors and industrial groups. WinX Capital has received numerous accolades, including being ranked No. 1 Financial Advisor in the Healthcare Sector for 2022 and 2023 by First New Voice; Top 2 Best Financial Advisor in the Healthcare Sector for 2021–2022 by Qimingpian & New Voice Innovation Services; and Annual Healthcare Financial Advisor at VCBeat’s “Top 100 Future Healthcare Companies” from 2022 to 2024.