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About Ondine Capital
Ondine Capital is a venture capital firm founded in 2019. It is primarily based out of Huangpu, China. As of May 2026, Ondine Capital is an active investor, having invested in 31 companies, with 1 new investment in the last 12 months. It primarily invests in Series B round in China based startups. Its investments are spread across a wide range of sectors from Consumer to High Tech and Enterprise Applications. Most recently it participated in the $***** Series B round of Zeron Truck Overall, Ondine Capital portfolio has seen 1 unicorn and 3 IPOs including key companies like Valens, CARSOME and SigmaStar Technology. A lot of funds co-invest with Ondine Capital, with names like 500 Global sharing a substantial percentage of its portfolio. Ondine Capital has team of 7 people including 3 partners.Key Metrics
Team Members
Portfolio Count
Rounds of Entry
Seed, Series A & 4 more
Portfolio IPOs
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Ondine Capital's List of Top Investments
Ondine Capital has a portfolio of 31 companies, one of which is a Unicorn. Their most notable investments are in HiScene and iMotorbike.Their portfolio spans across China, Singapore, Indonesia and 6 more locations. They have invested in Consumer, High Tech, Enterprise Applications and 13 other sectors, across stages such as Seed, Series A and 4 more. Here is the list of top investments by Ondine Capital:
1. Valens
Provider of communication ICs for HD connectivity. It develops microchips to enable HD devices, which allows for plug-and-play real-time digital connectivity & wireless data transmission between ultra-HD video sources and remote displays. Its product is complementary to the HDMI standards, while acts as an alternative to RF, coaxial cable, S-Video, SCART, or VGA. It caters to audio-video and automotive sectors.
Key facts about Valens
- Founded Year: 2006
- Location: Hod Hasharon (Israel)
- Stage: Public
- Total Funding till date: $167M
- Employee Count: 225 as on Aug 31, 2026
- Investors: Kreos Capital, EG Capital Advisors and 22 Others
- Latest Funding Round: Series D, Nov 06, 2018, $*****
- Highlight: Public
2. Love Bonito
Internet first brand of apparel for women. The product catalog includes dresses, tops, bottoms, outerwear, shoes, and more. The portal also provides fashion-related content.
Key facts about Love Bonito
- Founded Year: 2010
- Location: Singapore (Singapore)
- Stage: Series C
- Total Funding till date: $63M
- Employee Count: 903 as on Aug 31, 2026
- Investors: Primavera, Openspace Capital and 7 Others
- Latest Funding Round: Series C, Oct 27, 2021, $*****
- Highlight: Editors' Pick
3. Sayurbox
E-grocery platform specializing in fresh produce delivery. It connects farmers directly to consumers, emphasizing farm-to-table freshness with options for organic, hydroponic, and conventional fruits, vegetables, proteins, and ready-to-cook packages.
Key facts about Sayurbox
- Founded Year: 2016
- Location: Jakarta (Indonesia)
- Stage: Series C
- Total Funding till date: $140M
- Employee Count: 559 as on Aug 31, 2026
- Investors: ASTRA, Syngenta Group and 12 Others
- Latest Funding Round: Series C, Mar 21, 2022, $*****
- Highlight: Editors' Pick
4. Snapask
Provider of online tutoring and educational resources for primary and secondary students. It offers 1-on-1 online tutoring, regular classes, intensive courses, and access to video courses and Q&A support. The platform provides bite-sized video lessons, quizzes for concept reinforcement, and homework assistance. Tutors are rigorously screened and possess strong academic credentials. The platform aims to facilitate effective learning at the student's own pace.
Key facts about Snapask
- Founded Year: 2015
- Location: Hong Kong (China)
- Stage: Series B
- Total Funding till date: $50M
- Employee Count: 58 as on Aug 31, 2026
- Investors: Greater Bay Area Homeland Investments, SOSV and 12 Others
- Latest Funding Round: Series B, Feb 26, 2020, $*****
- Highlight: Editors' Pick
5. CARSOME
App based marketplace for used cars. It collects vehicle-related data from individual sellers, sends its staff for inspection, holds auctions for dealers, and delivers the cars to buyers. It provides a platform for buying and selling pre-owned cars. Refurbishment processes are applied to improve vehicle condition.
Key facts about CARSOME
- Founded Year: 2015
- Location: Petaling Jaya (Malaysia)
- Annual Revenue: $500M - $1B as on Dec 31, 2023
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $838M
- Employee Count: 1,844 as on Jun 30, 2026
- Investors: Innoven Capital, MediaTek and 41 Others
- Latest Funding Round: Series F, Mar 17, 2026, $*****
- Highlight: Editors' Pick
Ondine Capital's Year-on-Year Investment Trends
Ondine Capital has invested in 31 companies over the last 7 years, with an average of 2 new investments annually in the last 5 years. In 2025, it made 2 investments, while as of May 2026, it has made 2 investments in this year. Its most recent first time investment was in Aboard and most recent follow-on round was in Zeron Truck.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 1 | 2 |
2025 | 1 | 1 | 2 |
2024 | 0 | 1 | 1 |
2023 | 3 | 0 | 3 |
2022 | 3 | 0 | 3 |
2021 | 4 | 1 | 5 |
2020 | 3 | 1 | 4 |
2019 | 2 | 1 | 3 |
Ondine Capital's Investments by Stage
Ondine Capital has made 7 investments in Seed stage with an average round size of $25.1M, 4 investments in Series A stage with an average round size of $20.7M and 3 investments in Series B stage with an average round size of $22.6M.Stage of entry | No. of Investments |
|---|---|
Seed | 7 |
Series A | 4 |
Series B | 3 |
Angel | 1 |
Conventional Debt | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Ondine Capital's Investments by Sector
Ondine Capital has a diverse portfolio, with companies operating in the Consumer, Auto, Transportation and Logistics Tech, Auto Tech and Retail. Notably, it has invested in 23 Tech companies, 15 Enterprise (B2B) companies, 11 Software companies and at least 10 companies focusing on Tech hardware.Sector | No. of Investments |
|---|---|
Consumer | 7 |
Auto | 4 |
Transportation and Logistics Tech | 4 |
Auto Tech | 3 |
Retail | 3 |
Others | 18 |
Note: We have considered here, only first round of investments
Ondine Capital's Investments by Geography
Ondine Capital has made most investments in China (6), followed by Singapore where it has made 4 investments.Country | No. of Investments |
|---|---|
China | 6 |
Singapore | 4 |
Indonesia | 3 |
Malaysia | 2 |
Thailand | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Ondine Capital's recent investments
Ondine Capital has made 2 investments in 2026 so far - Zeron Truck and Aboard.Here are the most recent investments by Ondine Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
May 26, 2026 | China | Series B | 9843 | [+9] | |
May 21, 2026 | United States | Seed | 8960 | ||
Jul 23, 2025 | China | Series A | 7028 | [+8] | |
Jan 22, 2025 | Singapore | Series A | 7141 | [+4] | |
Jan 02, 2024 | Indonesia | Series A | 9881 |
Unicorns in Ondine Capital's Portfolio
Ondine Capital has 1 unicorn in its portfolio - CARSOME. The most recent unicorn in their portfolio is CARSOME which became a unicorn in 2021, 1 years after Ondine Capital first invested in it.Here is a list of unicorns in Ondine Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
57 | App based marketplace for used cars | 2015 | Petaling Jaya | Series F | jvfhygt |
IPOs and Publicly Listed companies in Ondine Capital's Portfolio
3 of Ondine Capital's portfolio companies have become public. SigmaStar Technology got listed on the Shenzhen Stock Exchange (SZSE), in Mar 2024 at marketcap of $941M and Valens got listed on the New York Stock Exchange (NYSE).Here are Ondine Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 28, 2024 | - | - | 4212 | |
Oct 01, 2021 | - | - | 2007 | |
Dec 30, 2010 | - | - | 9597 |
Team profile of Ondine Capital
Ondine Capital has a team of 7 members including 3 Partners and 1 Venture Partner located in China. Ondine Capital's team does not sit on the board of any company as of now.Here is a list of all team members in Ondine Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Shanghai | - | ||
Partner | Jinzhong | - | ||
Partner | - | - | ||
Venture Partner | - | - |
Co-investors of Ondine Capital
Over the past 7 years, 176 investors have co-invested in Ondine Capital's portfolio companies. This includes funds and angels.
- Invested before Ondine Capital: 500 Durians, Vynn Capital and 56 others have invested in rounds before Ondine Capital. There are 2 companies where 500 Durians has invested before Ondine Capital and 2 companies where Vynn Capital has invested before Ondine Capital.
- Top Co-investors of Ondine Capital: 70 investors entered a company along with Ondine Capital. These include investors like 500 Global (2 companies).
- Invested after Ondine Capital: A total of 48 investors have invested in Ondine Capital's portfolio after their investments. Top Investors include Alpha JWC Ventures (1 company), IFC (1 company) and Northstar Group Services (1 company).
Recent News related to Ondine Capital
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Aboard has raised $13 Million in new fundingintelligence360•Jun 29, 2026•Ondine Capital, Aboard, Llama Ventures
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Aboard Secures $13M in Pre-Series A Funding Led by Ondine Capital and Llama VenturesMassinvestor•May 21, 2026•Ondine Capital
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Chinese self-driving truck startup Zeron secures $70m funding
Tech in Asia•Jul 23, 2025•Zeron Truck, Chentao Capital, Vision Plus Capital, Ondine Capital and 2 others
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Indonesia’s EV Startup Swap Energi Secures $22 Million Series A FundingAsiaTechDaily•Jan 03, 2024•Swap, Notable Capital, Ondine Capital, Qiming Venture Partners and 1 other
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iMotorbike Raises RM12mil in Series A Round, accelerating preowned motorcycles tradingWorld Business Outlook•Jun 28, 2023•iMotorbike, Gobi Partners, Ondine Capital, Penjana Kapital and 6 others
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Malaysia’s iMotorbike raises $2.6M in Series A round led by Gobi Partners and Ondine CapitalTechNode•Jun 27, 2023•iMotorbike, Gobi Partners, Ondine Capital, Penjana Kapital and 8 others
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Energy Swap Reportedly Receives Additional Pre-Series A FundingDailysocial•Apr 03, 2023•Orbit, Swap, New Energy Nexus, Ondine Capital and 3 others
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Indonesian furniture startup Dekoruma said to have raised fresh fundingShareandstocks•Nov 16, 2022•Dekoruma, Ondine Capital, OCBC, Nexter Ventures and 1 other
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Ondine Capital plans $100m fund, new SG office to step up dealmaking in SE AsiaShareandstocks•May 16, 2022•Ondine Capital
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Haulio raises $9.43m Series A led by Temasek’s Heliconia CapitalSingapore Business Review•Jan 17, 2022•Ondine Capital, Heliconia Capital Management, Haulio, PSA unboXed and 12 others
