LAV (Lilly Asia Ventures) is a leading biomedical venture capital firm that originated in 2008 as the corporate venture capital arm of Eli Lilly before spinning off into an independent investment management company. With offices in Shanghai, Hong Kong, and Palo Alto, LAV invests in healthcare and life sciences companies across early and growth stages globally.
38% of their portfolio is in Biotech & Life Sciences. Deal activity increased 100% year-over-year (14 deals in the last 12 months). Average disclosed round size is $94.3M (across 137 rounds with reported amounts).
Portfolio
101
Fund Size
$700M
Top Stage
Series B
Last 12 Mo
14
Team
Fei Chen
Managing Partner
Tao Yu
Managing Director
Jieyu Zou
Partner
Dezhi Kang
Vice President
Hansen Xu
Vice President
Judith Li
Investment Professional
Lilian Wan
Investment Professional
Stacie (Zongxi) Li
Life Sciences Investment
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
| Company | Round | Amount | Date |
|---|---|---|---|
 ClinChoice | Seed | $150M | Sep 2026 |
 NextCure | Series B | $500M | Aug 2026 |
 Khartis Therapeutics | Series B | $50M | Aug 2026 |
 Alebund | Series C | — | Jun 2026 |
| AAccro | Series C | $50M | May 2026 |
 Stairmed | Growth | — | Apr 2026 |
| SSyneron Bio | Series B | $150M | Mar 2026 |
 Pinnacle Medicines | Series B | $89M | Mar 2026 |
| Pinnacle Medicines | Series B | $89M | Mar 2026 |
 QuantX Biosciences | Series B | $85M | Feb 2026 |
| QQuantX | Series B | $85M | Feb 2026 |
| GGluBio | Strategic | $30M | Feb 2026 |
| GGluBio Therapeutics | Strategic | $30M | Feb 2026 |
 Precede Bio | Series B | $63.5M | Jan 2026 |
 Caldera Therapeutics | Series A | $75M | Jan 2026 |
| QQuantX | Series B | $130M | Jan 2026 |
 Pulnovo Medical | Unknown | $115M | Jan 2026 |
| QuantX Biosciences | Series B | $85M | Jan 2026 |
 Avenzotx | Series B | $60M | Sep 2025 |
| RRonovo | Series D | $67M | Sep 2025 |
 Ronovo Surgical | Series D | $67M | Sep 2025 |
 OTR Therapeutics | Series A | $100M | Jun 2025 |
 EnChannel Medical | Series B | $82.2M | May 2025 |
| UUnited InnoMed | Unknown | $20M | Apr 2025 |
| Pulnovo Medical | Series C | $100M | Mar 2025 |
Top Co-Investors
Last updated: 7 October 2026