# Decheng Capital: portfolio, investments and team > Decheng Capital is a vc firm based in United States. 17 investments on record, 2 in the last 12 months, latest Sept 2026. Source: https://millionrounds.com/fund/decheng-capital (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Decheng Capital Last cheque observed Sep 2026; 17 cheques on record. Email Deploying now New fund $149M, Oct 2026 VC firm Seed Series A Series B Life Sciences Healthcare Follow Decheng Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fdecheng-capital) Deploying now **100%** of best year **2** **cheques in 12 months**, 17 on record Since the last cheque **47** days **00** hrs **00** min **00** sec Median round **$35M** Rounds led **3 of 17** Sole investor **6 rounds** Exits **1 from the portfolio** Mostly in **United States, 69%** Pitch Decheng Capital ## Decheng Capital highlights - 01 2 cheques in the last 12 months - 02 Mostly Series A and Series B: 69% of its rounds - 03 Sole investor in 6 rounds, median $19M - 04 1 exits from the portfolio ## What they do > Decheng Capital is an investment firm that provides capital and strategic support to early-stage life science companies with revolutionary technologies and growth stage healthcare companies with strong market presence. From their own website - **Type:** VC firm (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Seed Series A Series B Growth Pre-IPO - **Sectors:** Life Sciences Healthcare - **Based in:** Menlo Park, United States - **Cold pitches:** Not accepted ## The record Every round we can evidence, newest first **17 appearances** - **2026** 2 rounds - **Sept** **[Nutshell Therapeutics](https://millionrounds.com/company/nutshell-therapeutics)** Series C · CN · TechStartups **Undisclosed** *Led* - **Apr** **[Syneron Bio](https://millionrounds.com/company/syneron-bio)** Series B · Ventureburn **$150M** *Led* - **2024** 1 round - **Dec** **[Ottimo Pharma](https://millionrounds.com/company/ottimo-pharma)** Series A · GB · Firms' own news pages **$140M** With 9 others - **2019** 4 rounds - **Dec** **[KeChow Pharma](https://millionrounds.com/company/kechow-pharma)** Series C · CN · China Money Network **$45M** *Led* - **Oct** **[Mynosys Cellular Devices](https://millionrounds.com/company/mynosys-cellular-devices)** US · Massdevice **$25M** Sole investor - **May** **[AnHeart](https://millionrounds.com/company/anheart)** Series A · CN · Bioportfolio **$15M** Sole investor - **May** **[Baoyuan Biomedical](https://millionrounds.com/company/baoyuan-biomedical)** Series A · CN · Voice **$15M** Sole investor - **2018** 3 rounds - **Sept** **[VelosBio](https://millionrounds.com/company/velosbio)** Series A · US · FinSMEs **$58M** With 4 others - **Aug** **[Apexigen](https://millionrounds.com/company/apexigen)** Series C · US · FinSMEs **$7.3M** Sole investor - **Jul** **[Omniome](https://millionrounds.com/company/omniome)** Series B · US · FinSMEs **$60M** With 6 others - **2017** 2 rounds - **Nov** **[Arcus Biosciences](https://millionrounds.com/company/arcus-biosciences)** Series C · US · Businesswire **$107M** With 5 others - **May** **[Aadi Biosciences](https://millionrounds.com/company/aadi-biosciences)** Series A · US · FinSMEs **$23M** With 4 others - **2016** 1 round - **Sept** **[ReadCoor](https://millionrounds.com/company/readcoor)** Series A · US · FinSMEs **$23M** Sole investor - **2014** 2 rounds - **Oct** **[Invitae](https://millionrounds.com/company/invitae)** Series F · US **$120M** With 13 others - **Jun** **[GeneWEAVE](https://millionrounds.com/company/geneweave)** Series B · US **$12M** With 2 others - **2013** 1 round - **Nov** **[Genapsys](https://millionrounds.com/company/genapsys)** Series B · US · finsmes.com **$37M** With 2 others - **2012** 1 round - **Feb** **[GeneWEAVE](https://millionrounds.com/company/geneweave)** Series A · US · live-pr.com **$12M** With 2 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **5 named** FY **Fengying Yu** Manager i Filing they signed HB **Hongbo Bao** Chief Compliance Officer i Form ADV XC **Xiangmin Cui** Director of General Partner i Filing they signed XM **Xiangmin Min** Director of General Partner i Filing they signed YQ **Yuheng Qiu** Manager i Filing they signed We also hold **18** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law **$2.7B** assets it manages Oct 2026 **4+** funds on file numbered funds in its name **Registered** investment adviser full reporting to the SEC - **Legal name:** Decheng Capital LLC - **SEC number:** CRD 293073 Funds on its Form ADV **5** private funds, **$1.8B** in gross assets · filed Aug 2024 Venture **4** Hedge **1** - Decheng Capital China Life Sciences USD Fund III, L.P. *Venture* 34 investors $612M - Decheng Capital Global Life Sciences Fund IV, L.P. *Venture* 42 investors $511M - Decheng Capital China Life Sciences USD Fund II, L.P. *Venture* 38 investors $376M - Decheng Capital Global Healthcare Fund (Master), L.P. *Hedge* 16 investors $166M - Decheng Capital China Life Sciences USD Fund I, L.P. *Venture* 21 investors $126M ## What they claim to have backed From their own portfolio page (on their website) **29** of 55 we have independently watched raise [ACELYRIN](https://millionrounds.com/company/acelyrin)[Adaptive Biotechnologies](https://millionrounds.com/company/adaptive-biotechnologies)[Adela](https://millionrounds.com/company/adela)[Alpine Immune Sciences](https://millionrounds.com/company/alpine-immune-sciences)[AnHeart Therapeutics](https://millionrounds.com/company/anheart-therapeutics)[Arcus Biosciences](https://millionrounds.com/company/arcus-biosciences)[Ark Biosciences](https://millionrounds.com/company/ark-biosciences)[CG Oncology](https://millionrounds.com/company/cg-oncology)[Cellares](https://millionrounds.com/company/cellares)[Cue Health](https://millionrounds.com/company/cue-health)[EpimAb Biotherapeutics](https://millionrounds.com/company/epimab-biotherapeutics)[Everest Medicines](https://millionrounds.com/company/everest-medicines)[GRIT Biotechnology](https://millionrounds.com/company/grit-biotechnology)[Hummingbird Bioscience](https://millionrounds.com/company/hummingbird-bioscience)[IMPACT Therapeutics](https://millionrounds.com/company/impact-therapeutics)[ImmPACT Bio](https://millionrounds.com/company/immpact-bio)[Invitae](https://millionrounds.com/company/invitae)[KeChow Pharma](https://millionrounds.com/company/kechow-pharma)[LevitasBio](https://millionrounds.com/company/levitasbio)[Mammoth Biosciences](https://millionrounds.com/company/mammoth-biosciences)[Mirvie](https://millionrounds.com/company/mirvie)[Nalu Medical](https://millionrounds.com/company/nalu-medical)[Omniome](https://millionrounds.com/company/omniome)[PackGene Biotech](https://millionrounds.com/company/packgene-biotech)[Polares Medical](https://millionrounds.com/company/polares-medical)[Scynexis](https://millionrounds.com/company/scynexis)[Terns Pharmaceutical](https://millionrounds.com/company/terns-pharmaceuticals)[Upstream Bio](https://millionrounds.com/company/upstream-bio)[Watchmaker Genomics](https://millionrounds.com/company/watchmaker-genomics) 3SBio AK Medical Aadi Aadi Accuragen Albireo Pharma BCFoods BeyondSpring Pharmaceuticals Bioheng Centricity Vision ConjugateBio Encodia Equillium Bio Firefly Biologics GRAIL Harton Therapeutics Insight Lifetech Kind Pharmaceuticals LYNK Pharmaceuticals Medical Creations SINO Medical Sciences Technology Shanghai Legend Medical Take2 USCI Medical Laboratory VintaBio Zentalis Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded. ## Exits from the portfolio Companies it backed that were later bought or listed **1 in all** **[GeneWEAVE](https://millionrounds.com/company/geneweave)** Bought by Roche **$425M** Aug 2015 An exit counts when it came after the firm's first round in the company. From historical deal records. New fund on file **$149M** raised in Oct 2026 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Seed Series A Series B Median round joined **$35M** the round, not its cheque Alone, median **$19M** Led 3 of 17 rounds **18%** - **Sole investor:** 6 rounds - **Last cheque:** Sept 2026 - **Exits:** 1 from the portfolio Rounds by stage said on their site - Series A said *7* - Series B said *4* - Series C *4* - Series F *1* - Seed said *-* - Growth said *-* - Pre-IPO said *-* Cheques by month Led Joined Dec 2023 Nov 2026 Often in the room with - [Claremont Creek Ventures](https://millionrounds.com/fund/claremont-creek-ventures) 2 - [OrbiMed](https://millionrounds.com/fund/orbimed) 2 - [XSeed Capital](https://millionrounds.com/fund/xseed-capital) 2 **Pitching Decheng Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Decheng Capital. A count of rooms they were both in, not a relationship either has claimed. [**Claremont Creek Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/claremont-creek-ventures)[**OrbiMed** Private equity **2** rounds together](https://millionrounds.com/fund/orbimed)[**XSeed Capital** VC firm **2** rounds together](https://millionrounds.com/fund/xseed-capital) ## Recently backed The latest companies Decheng Capital put money into. [**Nutshell Therapeutics** Sept 2026](https://millionrounds.com/company/nutshell-therapeutics)[**Ottimo Pharma** $140M · Dec 2024](https://millionrounds.com/company/ottimo-pharma)[**Apexigen** $7.3M · Aug 2018](https://millionrounds.com/company/apexigen)[**Arcus Biosciences** $107M · Nov 2017](https://millionrounds.com/company/arcus-biosciences) ## Quick answers about Decheng Capital ### What does Decheng Capital invest in? Decheng Capital invests most often at Series A and Series B (69% of the rounds on record), in sectors such as Life Sciences and Healthcare. ### How active is Decheng Capital? 17 investments on record, 2 of them in the last 12 months, and it led 3. The most recent was in Sept 2026. ### What has Decheng Capital invested in recently? Its most recent investments on record: Nutshell Therapeutics (Series C, Sept 2026), Syneron Bio (Series B, Apr 2026) and Ottimo Pharma (Series A, Dec 2024). ### How big are Decheng Capital's cheques? The median round it joins is $35M. ### Does Decheng Capital lead rounds? Yes: it led 3 of its 17 investments on record (18%). ### Where does Decheng Capital invest? Most of the companies it backs are in the United States (69%), China (25%) and the United Kingdom (6%). ### Is Decheng Capital investing now? Yes: it is actively investing, with 2 investments in the last 12 months. ### Who does Decheng Capital invest alongside? Most often Claremont Creek Ventures (2 rounds together), OrbiMed (2 rounds together) and XSeed Capital (2 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=decheng-capital) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=decheng-capital)