Industry Newsroom

Softbank, PICC, and Morningside VC Lead USD319m Series C for Chinese AI-Enabled Drug Developer XtalPi

Softbank Vision Fund 2, PICC Capital, and Morningside Venture Capital led a USD319m Series C for XtalPi, a China-based pharmaceutical firm that uses AI to develop new drugs, with participation from existing investors Tencent Holdings, Sequoia Capital China, China Life, and SIG. New investors include CICC Capital, China Merchants Bank International, Mirae Asset, CITIC Securities, CITIC Capital, Shunwei Capital, Oceanpine Capital, Foursquare Capital, and IMO Ventures. Read more