---
title: "Anew Labs $290M at $1.5B Is Reuters Sources — ByteDance Did Not Comment"
description: "Reuters reported on September 16, 2026 that ByteDance’s spun-off AI drug unit Anew Labs completed a $290 million inaugural external raise at $1.5 billion. Two people; ByteDance and the investors did not immediately comment. HSG, IDG Capital, and Hillhouse were named as leads; ByteDance retains 56%. HSG is not Sequoia Capital US."
date: 2026-09-16T00:00:00.000Z
source: https://venturecapitaltracker.com/2026-anew-labs-290m-1-5b-hsg-idg
---

# Anew Labs $290M at $1.5B Is Reuters Sources — ByteDance Did Not Comment

> Reuters reported on September 16, 2026 that ByteDance’s spun-off AI drug unit Anew Labs completed a $290 million inaugural external raise at $1.5 billion. Two people; ByteDance and the investors did not immediately comment. HSG, IDG Capital, and Hillhouse were named as leads; ByteDance retains 56%. HSG is not Sequoia Capital US.

**Anew Labs’ $290 million raise at $1.5 billion is [Reuters](https://www.reuters.com/legal/transactional/bytedance-completes-290-million-fundraising-ai-drug-unit-after-its-spin-off-2026-09-16/), two people, September 16, 2026 — not a company blog.** ByteDance and the named investors **did not immediately comment**. Last verified **September 16, 2026**.

**Unexpected truth:** treat this as a **reported** inaugural external round inside a **ByteDance-controlled** vehicle. A second source told Reuters ByteDance **keeps 56%** after the fundraising. There is **no** series letter, **no** pre/post label, and **no** pipeline or revenue print in that item.

HSG is **formerly Sequoia China**. It is **not** [Sequoia](/fund/sequoia). Same disambiguation as [Clipto](/2026-clipto-15m-250m-hsg-local-video-search).

## Five-minute decision

| If you need… | Verdict |
| --- | --- |
| What happened | **Reported close.** $290M at **$1.5B**. Sep 16 Reuters. |
| Company confirmation | **None** in that story. |
| Control | ByteDance **56%** after (second source). |
| Leads (sources) | HSG, IDG Capital, Hillhouse; 5Y Capital **co-lead**. |
| Series / ARR / assets | **Unknown.** |
| `/fund/` pages | **None** for the named China firms. |

**Investigate further when:** a company or investor statement lands, or you already diligence ByteDance healthcare as a separate P&L.

**Wait or pass when:** you need a primary release, a series letter, or US Sequoia on the cap table.

## What Reuters printed

| Field | Detail |
| --- | --- |
| Company | [Anew Labs](/startup/anew-labs); Shanghai; AI drug discovery (Reuters description) |
| Amount / mark | **$290M** · **$1.5B** · inaugural external |
| Structure | Spin-off from ByteDance so drug discovery can run on different “industry logic” (source) |
| Other names | Gaorong, Primavera, Boyu, SBP Group, Shanghai Future Industries Fund |
| IDG overlap on this site | [PHYMI](/startup/phymi) ~$100M seed — **different** deal |

No product metrics. No named molecules. No comment from the company. Confidence is **reported**.

Entity: [Anew Labs](/startup/anew-labs). Day index: [September 15–16](/2026-september-15-16-investment-news-grab-pulley-jack-jill).

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** September 16, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.