FREES FUND

Founded 2015
Founders Ben Lin Feng Li

Overview

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This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.
Total investments 126
Average round size
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The average size of a deal this fund participated in
$11M
Portfolio companies 92
Rounds per year 21.00
Lead investments 14
Follow on index
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How often the fund supports its portfolio startups at next rounds
0.25
Exits 6
Key employees 4
Stages of investment
Early Stage Venture
Late Stage Venture

Areas of investment

  • E-Commerce
  • Artificial Intelligence
  • Internet
  • Health Care
  • Blockchain
Summary

FREES FUND appeared to be the VC, which was created in 2015. The company was established in Asia in China. The leading representative office of defined VC is situated in the Beijing.

The fund was created by Ben Lin, Feng Li. We also calculated 4 valuable employees in our database.

This FREES FUND works on 27 percentage points less the average amount of lead investments comparing to the other organizations. When the investment is from FREES FUND the average startup value is 500 millions - 1 billion dollars. The real fund results show that this VC is 8 percentage points more often commits exit comparing to other companies. The fund is generally included in 13-24 deals every year. The increased amount of exits for fund were in 2016. The high activity for fund was in 2018. Despite it in 2019 the fund had an activity. The common things for fund are deals in the range of 10 - 50 millions dollars.

The standard case for the fund is to invest in rounds with 3-4 partakers. Despite the FREES FUND, startups are often financed by ZhenFund, Yunqi Partners, TAL Education Group. The meaningful sponsors for the fund in investment in the same round are ZhenFund, Shunwei Capital, Matrix Partners China. In the next rounds fund is usually obtained by IDG Capital, Matrix Partners China, ZhenFund.

Besides, a startup needs to be aged 2-3 years to get the investment from the fund. For fund there is a match between the country of its foundation and the country of its the most frequent investments - China. Among the most popular fund investment industries, there are Internet, Education. The fund has no exact preference in some founders of portfolio startups. In case when startup counts 4 or 5+ of the founder, the chance for it to get the investment is meager. Among the most popular portfolio startups of the fund, we may highlight Unity Technologies, Huasheng Haoche, Club Factory.

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Notable deals

CompanyIndustryRound SizeDateInvestorsLocation

XellSmart

Biopharma
Biotechnology
Pharmaceutical
$11M08 Sep 2021 Minhang, Shanghai, China

NeuralGalaxy

Health Care
$77M29 Aug 2021 Dongcheng District, Beijing, China

Kolmostar

Autonomous Vehicles
Cloud Computing
GPS
Indoor Positioning
Internet of Things
Software
$15M15 Jun 2021 Fremont, California, United States

Sensedeal

09 May 2021 Haidian, Beijing, China

OnQuality Pharmaceuticals

Biopharma
Biotechnology
Therapeutics
$20M31 Mar 2021 Shanghai, Shanghai, China

Bluepha

Biotechnology
Industrial Manufacturing
Manufacturing
$30M26 Feb 2021 Dongcheng District, Beijing, China

Artificial Intelligence
Big Data
Insurance
Machine Learning
27 Jan 2021 Shanghai, China

Upicto

Beauty
E-Commerce
E-Commerce Platforms
Fashion
$10M24 Sep 2020 Shangcheng District, Zhejiang, China

Saturnbird Coffee

Coffee
$15M02 Sep 2020 Rudong County, Jiangsu, China
News
OnQuality Pharmaceuticals Announces Closing of $35 Million Series A+ Financing

– OnQuality Pharmaceuticals LLC (“OnQuality”), a targeted cancer supportive care company developing medications to address specific side effects and improve the quality of life for patients receiving anti-cancer medications, today announced the closing of its Series A+ financing round securing an additional $20 million in funding. This brings the total amount of capital raised in Series A and A+ to $35 million.
– This financing round included participation from Shiyu Capital, Matrix Partners China, BioTrack Capital, CASH Capital, Sinovation Ventures, FreeS Fund, and additional biotech veterans.
– Proceeds from the financing will support the ongoing Phase II clinical trial of the company’s leading compound OQL011, as well as multiple additional targeted cancer supportive care programs anticipated to enter different phases of clinical development over the next 18 months.
OnQuality also announced the appointment of pharmaceutical executive Michael McCullar, Ph.

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