PhiSkin Partners with Leading Chinese and U.S. Investors in Strategic Financing Round Led by Legend Capital to Advance the 'Beauty Economy'

PhiSkin Signs Strategic Investment Agreement with Legend Capital and Risheng

VCBeat has learned that on May 26, the Shangri-La Hotel in Jing’an District, Shanghai, hosted a celebration of aesthetic excellence. PhiSkin, a leader in China’s medical aesthetics industry, joined hands with leading healthcare investment firms such as Legend Capital. This financing round for PhiSkin was led by Legend Capital, with participation from Ares Management Corporation, Zhengqi Finance, and Shiyu Capital. Joy Capital served as the exclusive financial advisor.

The strategic alliance among these leading players signals that PhiSkin will assume the role of an industry leader, facilitating the standardized development of China’s medical aesthetics sector. This collaboration also serves as a positive catalyst for the overall development trends of the medical aesthetics industry in 2017.A Highly Anticipated Event for Industry Professionals。

At the press conference, a detailed overview was presented of PhiSkin’s development journey and future vision as a leader in China’s medical aesthetics industry, covering its origins, growth, and strategic layout for the future.

In addition to the lead investor, Legend Capital, the event attracted leading enterprises from various industries. Attendees included H&Q Asia Pacific, a well-known investment firm and shareholder of the company; Ares Management Corporation, one of the world’s largest asset management firms; and CPIC-Allianz, jointly established by two Fortune Global 500 companies, China Pacific Insurance (Group) Co., Ltd. and Allianz SE, among other renowned enterprises.

Also in attendance were such prominent figures as Wu Danru, a best-selling author and TV host from Taiwan, China; Ken Muskat, CEO of SkySea Cruise Line; Zheng Yi, President of esee Model Management; Gong Yuan, Senior Partner at Korn Ferry; and Gao Shan, General Manager of OMG-ASIA Media Group, who all witnessed PhiSkin’s growth journey firsthand.

Ms. Kang Yajun, Partner and CEO of PhiSkin Fuyi Medical

At this launch event, PhiSkin partnered with Taiping Allianz to introduce the “Ai” brand’s introductory experience concept, aiming to establish itself as China’s premier destination for safe medical aesthetics. Centered on the consumer’s “first-time medical aesthetics experience,” the theme highlights PhiSkin’s standardized services by examining the psychological journey of first-time clients—transitioning from nervousness to delight and ultimately to trust—thereby cultivating a reputation-driven brand image for PhiSkin in the medical aesthetics sector.

Kang Yajun, Partner and CEO of PhiSkin Medical; Zhang Haodong, Partner and CIO of PhiSkin Medical; Huang Kan, Partner and COO of PhiSkin Medical; Ouyang Xiangyu, Managing Director at Legend Capital; Ge Xin, Partner at Ares Management Group; and Shen Yifeng, Managing Director at H&Q Asia Pacific, each delivered inspiring remarks. Dr. Xiang Leihong, Chief Consultant of PhiSkin Medical, Chief Physician and Doctoral Supervisor in the Department of Dermatology at Huashan Hospital, also sent a congratulatory video message.

Following the successful signing ceremony of PhiSkin’s strategic investment agreements with Legend Capital and Risheng, a high-profile forum on the “Beauty Economy,” attended by distinguished guests, brought the event to its climax.

“The Beauty Economy” concept originates from the economic theory of “attention economy.” It is a specialized economic model in which companies attract user attention and cultivate loyal customer bases by creating aesthetically appealing products, with the aim of generating profits.

In fact, the “appearance economy” has given rise to booming blue-ocean markets—such as aesthetic hospitals, the cosmetics industry, and selfie-editing apps—by catering to people’s demand for physical attractiveness.

As a standalone segment of the press conference, the forum was attended by Kang Yajun, Partner and CEO of PhiSkin Medical; Ouyang Xiangyu, Managing Director at Legend Capital; Mr. Ken Muskat, CEO of SkySea Cruise Line; Gao Shan, General Manager of OMG-ASIA Media Group; Zheng Yi, President of Esee Model Management; Wu Danru, a renowned television host and author from Taiwan, China; and Gong Yuan, Senior Partner at Korn Ferry.

CEOs from Fortune 500 companies and prominent figures from the investment and entertainment industries shared their insightful perspectives on this topic, fully demonstrating the broad development prospects of the “beauty economy” sector.

Ms. Kang Yajun, Co-founder and CEO of PhiSkin, stated, “The medical aesthetics industry has emerged against the backdrop of the vast ‘appearance economy’ market, driven by advancements in technology and shifting lifestyle trends. Since its inception, PhiSkin has been championing a new philosophy: beauty is not merely a one-time transformation, but rather a proactive mindset and healthy habit centered on long-term management.”

She emphasized that aesthetics is not a rigid standard, but rather an application of wisdom to understand and enhance the unique traits inherent to each individual. Choosing medical aesthetic services was once fraught with concerns over safety, pricing, and public controversy. PhiSkin, however, has emerged as the first fully standardized chain brand in China, employing more effective medical approaches to proactively manage one’s skin, appearance, and body shape, while offering lighter and safer solutions.

VCBeat has learned that this year, PhiSkin has joined forces with top-tier investment firms both in China and abroad to jointly promote its new “Smart Aesthetic Medicine” philosophy and the “Ai’s First Experience” initiative to a wider audience.

Mark Hsu, Managing Director of Han Ding Asia Pacific, stated, “The introduction of an experienced management team, coupled with our support and initial investment, has enabled Fuyi Medical to achieve rapid growth in China. This has helped the company attract renowned investors such as Legend Capital and Ruisheng, and successfully secure its second round of financing, which will support Fuyi Medical’s next phase of growth.”

Ouyang Xiangyu, Managing Director at Legend Capital, stated, “The medical aesthetics industry is currently undergoing multiple transformations in terms of users, channels, and service systems, creating opportunities for the emergence of light-asset chain brands that differ from past models. PHI Care emphasizes medical quality and user service experience, striving to build a specialized niche brand focused on dermatological medical aesthetics and minimally invasive procedures. The company’s team possesses extensive experience in chain operations, brand marketing, and the medical aesthetics industry, making it a rare new-wave cross-disciplinary team within the sector.”

Ge Xin, Partner at Ascend Management Group, stated: “As a rapidly growing mid-to-high-end medical aesthetics institution, Facei Medical has achieved high-standard, professional management through a meticulous and scientific operational system, making it one of the few true medical aesthetics chain institutions in China.”

Clearly, by maintaining a sustained focus on and rigorous control over the quality of medical services and customer consumption experience, Phieye has distinguished itself among numerous domestic medical aesthetic institutions, earning an excellent industry reputation and accumulating a large base of loyal users.

FuAi has meticulously built a robust medical team composed of renowned dermatology and plastic surgery experts across China, as well as an advisory and training team comprised of internationally acclaimed aesthetic medicine specialists. This has established a professional and rigorous image among physician peers, laying a solid foundation for the company’s sustained expansion in the future.

In response, Ding Yameng, Founding Partner of Haoyue Capital, stated, “As the spending power of China’s urban population grows and awareness of appearance management strengthens, the medical aesthetics industry requires truly safe and reliable professional institutions. We believe that Phiskin, by establishing a standardized chain management system and a physician training program covering the entire industry, will genuinely earn the trust and recognition of a broader urban demographic.”

From left to right: Gao Yuan, Zheng Yi, Mo Fusheng (Ken Muckat), Ouyang Xiangyu, Kang Yajun, Gong Yuan, Wu Danru, Gao Shan

The press conference drew to a close amidst insightful discussions by industry leaders. PhiSkin’s securing of investment from prominent firms such as Legend Capital has undoubtedly provided a positive impetus to the development of the entire medical aesthetics industry in 2017, garnering widespread attention and affirmation from professionals in the field.

PhiSkin’s annual brand campaign, “First Experience with Ai,” further demonstrates the brand’s high-end positioning and aspirations, leveraging its strong capital backing, professional service quality, and user-centric design philosophy.

PhiSkin, originating from the United States, is a premium medical institution specializing in skin management and minimally invasive aesthetic procedures. Since entering the Chinese market in 2012, PhiSkin has become China’s leading chain of professional skin and appearance management institutions. To date, it operates six specialized clinics and three high-end Medical Spas across Beijing, Shanghai, Hangzhou, and Ningbo, and is home to the world’s first anti-aging center located at sea.

PhiSkin has simultaneously established the PhiAi Academy, which boasts the industry’s premier international academic exchange platform and multiple high-end overseas medical collaboration projects. It is currently a leading enterprise in China’s medical aesthetics industry.

Additionally, PhiSkin boasts a professional medical team and robust medical support. The PhiSkin Academy integrates top global experts and international academic resources, striving to build the most professional medical aesthetics education platform in the Asia-Pacific region, tailored specifically for Asian populations.

Meanwhile, the partnership with Taibao Allianz ensures a secure experience for customers. In developing customized, differentiated offerings, PhiSkin has introduced a third-party authoritative insurance platform—alongside its advanced devices, expert physicians, and premium services—to strive to create a unique, high-quality service platform in the current medical aesthetics market.

PhiSkin is dedicated to bringing cutting-edge medical devices and the golden ratio aesthetics of facial beauty to every discerning woman, offering bespoke solutions for facial contouring, facial rejuvenation, and skin appearance management tailored for elites and new affluent individuals.

Legend Capital, a member of Legend Holdings, was established in 2001 and manages total assets exceeding RMB 30 billion in US dollars and Renminbi. Since 2008, Legend Capital has been strategically positioning itself in the healthcare sector. It established an investment team dedicated to healthcare in 2010 and raised a dual-currency (USD and RMB) specialized healthcare investment fund in 2016. The fund primarily focuses on domestic investments, while also engaging in cross-border and M&A investments.

To date, Legend Capital’s total investment in the healthcare and life sciences sector has exceeded $400 million. Its portfolio spans multiple sub-sectors, including healthcare services, biopharmaceuticals, diagnostics, gene technology, medical devices, and mobile health, with deep strategic holdings in disease areas such as cardiac medicine and surgery, neurosurgery, diabetes, and oncology.

Ares Management is one of the world’s largest asset management firms, with $100 billion in assets under management. Headquartered in Los Angeles, Ares employs approximately 955 people across more than a dozen offices in the United States, Europe, Asia, and Australia.

In the healthcare services and consumer retail sectors, Apex has invested in numerous well-known companies across the United States and Europe, while also committing to providing value-added services—such as international resource integration, market expansion, and technology introduction—to rapidly growing Chinese enterprises.

Ares Management Corporation was listed on the New York Stock Exchange in May 2014 (ticker symbol: ARES), becoming one of the few publicly traded asset management firms.

The Danqing Medical Fund (hereinafter referred to as the "Danqing Fund"), initiated by Shiyu Capital, is a long-term value investment fund adhering to the principle of "One Innovation, Two Specializations" (innovation, professionalism, and focus). It primarily invests in frontier innovations in life sciences, such as biopharmaceuticals, innovative medical services, and precision medicine. Currently, it has established investments in specialized hospitals, retail pharmacies, innovative drugs, and CRO companies within their industrial chains.

The limited partners (LPs) of Danqing Fund are primarily prominent entrepreneurs in the healthcare and medical sector, with its cornerstone investor being Mr. Zhu Jiman, Chairman of Yuheng Pharmaceutical (SZSE: 002437), a leading listed pharmaceutical company on the A-share market.

Established in October 2012 and wholly owned by Legend Holdings Corporation in Hefei, the company has a registered capital of RMB 2.547 billion. It is a financial holding company dedicated to providing financing services for small and medium-sized enterprises (SMEs) and engaging in innovative financial businesses. The company operates nine major business units: financing guarantees, microfinance, pawnbroking, financial leasing, commercial factoring, equity investments, capital market services, asset management, and internet finance.

In December 2016, Zhengqi Finance successfully introduced two strategic investors—Xiamen ITG Group Corp., Ltd. and Cinda Feng Investment Management Co., Ltd.—securing RMB 800 million in financing, with a post-money valuation of RMB 9.3 billion.