Oceanpine Capital Hits $400Mn Final Close of Fund II

BEIJING,Dec. 28,2020 -- This is the first time Oceanpine has sought funding from external LPs since its inception in Dec 2016. That year,the firm set up its$400 milliondebut fund using GP's internal capital. FounderDave Chenn,who previously established a multi-billion-dollar conglomerate companyin 2005,has participated as an LP in 15 technology-focused venture capital and private equity funds,and has co-invested in a number of highly successful deals.

The final closing LPs included the GP management team itself and other top-tier international institutional investors from U.S. and Asia,including reputable insurance pockets,prominent technology company leaders (mostly listed) and their founders,asset management allocators,family offices,and seasoned Midas List venture capitalists.

Oceanpine has investedover $1 billionacross more than 40 companies in bothChinaand the US with Fund I and other investment vehicles. Among them are AI computing-power specialist Enflame Technology,Ansun Biopharma,Horizon Robotics,Black Sesame,and US graphical database platform TigerGraph. Fund I has been fully invested and has secured two full exits and four IPOs with 50% DPI. Three more companies will file for IPO in the next twelve months.

Oceanpine is investing its Fund II in a number of innovative companies following DeepTech-focused remit of its predecessor. About$200 millionhas already been deployed across ten deals,including a Series B for Enflame,drug developer Apexigen,Enterprise Software provider XforcePlus,leading AI solution provider Black Sesame,innovative biopharmaceutical leader Apollomics,advanced bio-tech player Creative Biosciences,Series C & C+ for clinical stage biologics company Sinovent,AI pharmaceutical technology company XtalPi,next-gen AI recruiting super platform Hiretual,and a top domesticIC equipment supplier BEST. Five more companies are expected to go public within 2021.

About Oceanpine Capital

With offices inBeijing (headquarters),Hong Kongand Silicon Valley,Oceanpine Capital was formed in 2016 to invest in category-defining market leaders in semiconductor,AI,5G,IoT,big data,enterprise software,as well as Biotech companies. Our sweet spots are early to late growth companies that distinguish themselves with applied disruptive technologies and proven innovative business model that address mass market demand.

Oceanpine's seasoned and indigenous investment team,combined with in-depth industrial knowledge,network,and business relationships with top business enterprises inChinaand U.S.,enable us to have significant advantage in deal creation and value-add service. Team's capital market insights and experience is another critical aspect of Oceanpine's competitive advantage. As a result,Oceanpine is able to deliver tremendous value to the portfolio companies and grow together.

Michelle Chen

Executive Director,Oceanpine Capital

michelle.chen@oceanpine.com

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