# Lilly Asia Ventures: portfolio, investments and team

> Lilly Asia Ventures is a vc firm based in Hong Kong SAR China. 118 investments on record, 24 in the last 12 months, latest Sept 2026.

Source: https://millionrounds.com/fund/lilly-asia-ventures (Millionrounds; every figure on the page links to its filing or article)

Hong Kong SAR China · [Investor](https://millionrounds.com/investors)

# Lilly Asia Ventures

Last cheque observed Sep 2026; 118 cheques on record.

Email

Deploying now New fund, Mar 2015 VC firm

Series B Series A Venture Biotechnology Health Care

Follow Lilly Asia Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Flilly-asia-ventures)

Deploying now

**89%** of best year **24** **cheques in 12 months**, 118 on record

Since the last cheque **60** days **00** hrs **00** min **00** sec

Median round **$62M** Rounds led **0 of 118** Sole investor **16 rounds** Mostly in **United States, 80%**

Pitch Lilly Asia Ventures

Another investor of this name exists, and we could not establish from the rounds which of them the press meant. Treat the record below as possibly belonging to either. [Tell us which](https://millionrounds.com/corrections?slug=lilly-asia-ventures) if you know.

## Lilly Asia Ventures highlights

- 01 24 cheques in the last 12 months
- 02 Mostly Series B and Series A: 59% of its rounds
- 03 Sole investor in 16 rounds, median $30M

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Sectors:** Biotechnology Health Care
- **Based in:** Hong Kong SAR China
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **118 appearances**

- **2026** 16 rounds
- **Sept** **[Cornerstone Robotics](https://millionrounds.com/company/cornerstone-robotics)** Venture · HK **$700M** With 3 others
- **Sept** **[Connexus Therapeutics](https://millionrounds.com/company/connexus-therapeutics)** Series A · HK **$5.0M** With 1 other
- **Sept** **[Tempest Therapeutics](https://millionrounds.com/company/tempest-therapeutics)** US **$2.5M** With 4 others
- **Aug** **[Khartis Therapeutics](https://millionrounds.com/company/khartis-therapeutics)** Series B · US · Ventureburn **$50M** With 5 others
- **Jun** **[Legend Biotech](https://millionrounds.com/company/legend-biotech)** US **$226M** With 2 others
- **May** **[ArriVent](https://millionrounds.com/company/arrivent)** US **$250M** With 4 others
- **Mar** **[Excalipoint Therapetics](https://millionrounds.com/company/excalipoint-therapetics)** Seed · HK **$28M** With 3 others
- **Mar** **[Inhibrx](https://millionrounds.com/company/inhibrx)** Debt · US **$75M** With 4 others
- **Feb** **[GluBio Therapeutics](https://millionrounds.com/company/glubio-therapeutics)** Venture **$30M** With 4 others
- **Feb** **[QuantX Biosciences](https://millionrounds.com/company/quantx-biosciences)** Series B · US **$85M** With 3 others
- **Jan** **[XellSmart](https://millionrounds.com/company/xellsmart)** Venture **Undisclosed** With 3 others
- **Jan** **[Precede Biosciences](https://millionrounds.com/company/precede-biosciences)** Series B · US **$64M** With 2 others
- **Jan** **[NeuShen Therapeutics](https://millionrounds.com/company/neushen-therapeutics)** Venture **Undisclosed** Sole investor
- **Jan** **[Caldera Therapeutics](https://millionrounds.com/company/caldera-therapeutics)** Series A · US **$38M** With 4 others
- **Jan** **[Alumis](https://millionrounds.com/company/alumis)** US **$345M** With 6 others
- **Jan** **[Just - Evotec Biologics](https://millionrounds.com/company/just-evotec-biologics)** Venture · US **Undisclosed** With 3 others
- **2025** 24 rounds
- **Dec** **[Syneron](https://millionrounds.com/company/syneron)** Series A **$100M** With 2 others
- **Dec** **[Akura Medical](https://millionrounds.com/company/akura-medical)** Series C · US **$53M** With 1 other
- **Dec** **[SciNeuro](https://millionrounds.com/company/scineuro)** Venture · US **$53M** With 3 others
- **Dec** **[Structure Therapeutics](https://millionrounds.com/company/structure-therapeutics)** US **$748M** With 6 others
- **Dec** **[Terns Pharmaceuticals](https://millionrounds.com/company/terns-pharmaceuticals)** US **$650M** With 3 others
- **Nov** **[Sonoma Biotherapeutics](https://millionrounds.com/company/sonoma-biotherapeutics)** Grant · US **$300K** With 4 others
- **Nov** **[Fine Vision](https://millionrounds.com/company/fine-vision)** Venture **Undisclosed** Sole investor
- **Nov** **[NextCure](https://millionrounds.com/company/nextcure)** US **$22M** With 4 others
- **Oct** **[Starna Therapeutics](https://millionrounds.com/company/starna-therapeutics)** Series B **$42M** With 3 others
- **Sept** **[Ronovo Surgical](https://millionrounds.com/company/ronovo-surgical)** Series D **$67M** With 2 others
- **Jul** **[ArriVent](https://millionrounds.com/company/arrivent)** US **$75M** With 4 others
- **Jun** **[OTR Therapeutics](https://millionrounds.com/company/otr-therapeutics)** Series A **$100M** Sole investor
- **Jun** **[Kelun Biotech](https://millionrounds.com/company/kelun-biotech)** **$250M** With 2 others
- **Apr** **[Heyuan Medical Devices](https://millionrounds.com/company/heyuan-medical-devices)** Series A **$14M** Sole investor
- **Apr** **[Dizal Pharma](https://millionrounds.com/company/dizal-pharma)** **$246M** With 1 other
- **Apr** **[Enchannel](https://millionrounds.com/company/enchannel)** Series B **$82M** Sole investor
- **Apr** **[Novlead Biotech](https://millionrounds.com/company/novlead-biotech)** Venture **Undisclosed** With 2 others
- **Mar** **[Rona Therapeutics](https://millionrounds.com/company/rona-therapeutics)** Series B **$25M** Sole investor
- **Feb** **[ADARx Pharmaceuticals](https://millionrounds.com/company/adarx-pharmaceuticals)** Venture · US **Undisclosed** With 6 others
- **Jan** **[Cornerstone Robotics](https://millionrounds.com/company/cornerstone-robotics)** Series C · HK · Alpha JWC Ventures **$70M** With 8 others
- **Jan** **[Alebund Pharmaceuticals](https://millionrounds.com/company/alebund-pharmaceuticals)** Series C **$75M** With 2 others
- **Jan** **[Inhibrx](https://millionrounds.com/company/inhibrx)** Debt · US **$150M** With 4 others
- **Jan** **[Verdiva Bio](https://millionrounds.com/company/verdiva-bio)** Series A · GB **$411M** With 4 others
- **Jan** **[Timberlyne Therapeutics](https://millionrounds.com/company/timberlyne-therapeutics)** Series A · US **$180M** 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 **1 named**

YS **Yi Shi** Sole Director i Filing they signed

We also hold **2** 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

**3+** funds on file numbered funds in its name

New fund on file

**Raised**

a new fund in Mar 2015

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Series B Series A Venture

Median round joined **$62M** the round, not its cheque Alone, median **$30M**

Led 0 of 118 rounds **0%**

- **Sole investor:** 16 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Series B *29*
- Series A *25*
- Venture *17*
- Series C *17*
- Debt *3*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [HSG](https://millionrounds.com/fund/hsg) 15
- [OrbiMed](https://millionrounds.com/fund/orbimed) 14
- [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) 12
- [Hill House Capital](https://millionrounds.com/fund/hill-house-capital) 11
- [Vivo Capital](https://millionrounds.com/fund/vivo-capital) 10
- [Cormorant Asset Management](https://millionrounds.com/fund/cormorant-asset-management) 9

**Pitching Lilly Asia Ventures?** 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 Lilly Asia Ventures. A count of rooms they were both in, not a relationship either has claimed.

[**HSG** VC firm **15** rounds together](https://millionrounds.com/fund/hsg)[**OrbiMed** Private equity **14** rounds together](https://millionrounds.com/fund/orbimed)[**Qiming Venture Partners** VC firm **12** rounds together](https://millionrounds.com/fund/qiming-venture-partners)[**Hill House Capital** Family office **11** rounds together](https://millionrounds.com/fund/hill-house-capital)[**Vivo Capital** Private equity **10** rounds together](https://millionrounds.com/fund/vivo-capital)[**Cormorant Asset Management** Private equity **9** rounds together](https://millionrounds.com/fund/cormorant-asset-management)[**ARCH Venture Partners** VC firm **8** rounds together](https://millionrounds.com/fund/arch-venture-partners)[**Matrix Partners China** VC firm **8** rounds together](https://millionrounds.com/fund/matrix-partners-china-2)[**RA Capital Management** Private equity **7** rounds together](https://millionrounds.com/fund/ra-capital-management)[**Foresite Capital** Private equity **6** rounds together](https://millionrounds.com/fund/forsite-capital)[**General Atlantic** Private equity **5** rounds together](https://millionrounds.com/fund/general-atlantic)[**Legend Capital** VC firm **5** rounds together](https://millionrounds.com/fund/legend-capital)

## Recently backed

The latest companies Lilly Asia Ventures put money into.

[**Cornerstone Robotics** $700M · Sept 2026](https://millionrounds.com/company/cornerstone-robotics)[**Tempest Therapeutics** $2.5M · Sept 2026](https://millionrounds.com/company/tempest-therapeutics)[**Legend Biotech** $226M · Jun 2026](https://millionrounds.com/company/legend-biotech)[**ArriVent** $250M · May 2026](https://millionrounds.com/company/arrivent)[**Excalipoint Therapetics** $28M · Mar 2026](https://millionrounds.com/company/excalipoint-therapetics)[**QuantX Biosciences** $85M · Feb 2026](https://millionrounds.com/company/quantx-biosciences)

## Quick answers about Lilly Asia Ventures

### What does Lilly Asia Ventures invest in?

Lilly Asia Ventures invests most often at Series B and Series A (59% of the rounds on record), in sectors such as Biotechnology and Health Care.

### How active is Lilly Asia Ventures?

118 investments on record, 24 of them in the last 12 months. The most recent was in Sept 2026.

### What has Lilly Asia Ventures invested in recently?

Its most recent investments on record: Cornerstone Robotics (Venture, Sept 2026), Connexus Therapeutics (Series A, Sept 2026) and Tempest Therapeutics (Undisclosed round, Sept 2026).

### How big are Lilly Asia Ventures's cheques?

The median round it joins is $62M.

### Does Lilly Asia Ventures lead rounds?

Rarely, if at all: none of its 118 investments on record names it as the lead.

### Where does Lilly Asia Ventures invest?

Most of the companies it backs are in the United States (80%) and Hong Kong SAR China (16%).

### Is Lilly Asia Ventures investing now?

Yes: it is actively investing, with 24 investments in the last 12 months.

### Who does Lilly Asia Ventures invest alongside?

Most often HSG (15 rounds together), OrbiMed (14 rounds together) and Qiming Venture Partners (12 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=lilly-asia-ventures) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=lilly-asia-ventures)