Investor type Private Equity Firm
Founders Chris Gradel


Unlock datapoints

Portfolio analytics



News & Media

Add fund to favorites
Save this fund for later to form your own custom list of funds
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 24
Average round size
The average size of a deal this fund participated in
Portfolio companies 20
Rounds per year 1.20
Lead investments 8
Follow on index
How often the fund supports its portfolio startups at next rounds
Exits 5
Key employees 42

Areas of investment

  • E-Commerce
  • Pharmaceutical
  • Finance
  • Financial Services
  • Biotechnology

In 2002 was created PAG, which is appeared as VC. The venture was found in Asia in Japan. The leading representative office of defined VC is situated in the Tokyo.

The increased amount of exits for fund were in 2019. The real fund results show that this VC is 26 percentage points more often commits exit comparing to other companies. Comparing to the other companies, this PAG performs on 21 percentage points less the average number of lead investments. The fund is constantly included in less than 2 investment rounds annually. Deals in the range of more than 100 millions dollars are the general things for fund. The high activity for fund was in 2017.

Among the most popular portfolio startups of the fund, we may highlight Universal Studios Japan, Chezhibao, Dashu Finance. We can highlight the next thriving fund investment areas, such as Pharmaceutical, Trading Platform. The fund has no specific favorite in a number of founders of portfolio startups. Besides, a startup needs to be aged 6-10 years to get the investment from the fund. For fund there is no match between the country of its foundation and the country of its the most frequent investments - China.

The typical case for the fund is to invest in rounds with 2-3 participants. Despite the PAG, startups are often financed by Sequoia Capital China, Bitmain, Gobi Partners. The meaningful sponsors for the fund in investment in the same round are Sequoia Capital China, China Venture Capital, Advantech Capital. In the next rounds fund is usually obtained by Sequoia Capital, Regent Capital, Primavera Capital Group.

This organization was formed by Chris Gradel. Besides them, we counted 42 critical employees of this fund in our database.

Read more

Related Funds

Funds investing in previous rounds
These funds often invest in the rounds preceeding the rounds of PAG:
Typical Co-investors
PAG is more likely to invest in rounds together with the following funds:
There are no funds here. If we find new data, we will add it here.
Funds investing in following rounds
These funds have a tendency to invest in the following rounds after PAG:
There are no funds here. If we find new data, we will add it here.

Look at other 50 related and similar funds Collapse list
Fund NameLocation
Brizan Investments -
Dolphin Asset Management New York, New York, United States
FIH Mobile China, Hebei, Langfang
Gemini Group Bad Axe, Michigan, United States
Jianke China, Guangdong Province, Panyu District
Mingwei Group China, Guangdong, Shenzhen
Nazara Games -
The Clark Estates New York, New York, United States
Wasabi Ventures Manchester, New Hampshire, United States

Notable deals

CompanyIndustryRound SizeDateInvestorsLocation

NMS Group

Consumer Research
$216M21 Jan 2022 Lombardia, Lombardy, Italy

Inceptio Technology

Freight Service
$270M03 Aug 2021 Shanghai, China


Ad Network
Mobile Advertising
13 Jan 2021 China, Hunan

$100M31 Dec 2020 Futian District, Guangdong Province


Health Diagnostics
$105M03 Mar 2020 Boston, Massachusetts, United States

Yi Zizhu

Customer Service
Service Industry
$15M06 Feb 2020 Jiangsu

BioRay Pharmaceutical

$540M01 Sep 2019 Taizhou, Jiangsu, China

Alphamab Oncology

Clinical Trials
Health Care
$60M28 May 2019 China, Jiangsu


$380M01 Jan 2019 Xuanwu District, Jiangsu, China
Inceptio Technology Raises US$270M in Series B Financing

– Inceptio Technology is a Shangai, China-based autonomous driving truck technology and operating company.
– Company closed a US$270m Series B equity financing.
– The round was led by JD Logistics (02618.HK), Meituan (03690.HK), and PAG with participation from Deppon Express (603056.SH), IDG Capital, CMB International, SDIC, Mirae Asset, Eight Roads, and Broad Vision Funds, as well as existing shareholders GLP Hidden Hill Capital, CATL (300750.SZ), NIO Capital and Eastern Bell Capital.
– The company intends to use the funds to accelerate the development of its self-developed full-stack autonomous driving system “Xuanyuan”, and speed up its deployment in electrification.


  • No reviews are submitted yet.
Do you want more?
We provide dozens of additional datapoints about this fund.
Sign up and get access to full fund profile and advanced analysis.
Full team
Industries heatmap
Stages heatmap
Georgaphy breakdown
Portfolio analysis
Performance indexes
Latest highlights
Unlock all data
Do you represent PAG?
Get access to manage this page
Get in touch
Found incorrect info? Let us know!

You can raise money with us faster

Get matched with relevant funds

Find decision makers data

Connect with investors by email

Remind me later
...and save more than 200 hours*
*-Our recommendation and outreach system saves up to 200 hours of founder time on fundraising for seed and series A+ startups
We use LinkedIn only to verify your account. We don't import or message your contacts, nor post on your behalf.
By creating an account, you agree to our Terms of Service and Privacy Policy.
Crunchbase icon

Content report

The following text will be sent to our editors: