# Anew Labs

> ByteDance-spun AI drug-discovery company — Reuters reported a $290 million inaugural external raise at $1.5 billion; ByteDance and investors did not comment.

## Why it is interesting

September 16, 2026 Reuters (two people, not public): Shanghai-headquartered Anew Labs completed a $290 million fundraising after being spun out of ByteDance, at a $1.5 billion valuation. Leads named: HSG (formerly Sequoia China), IDG Capital, Hillhouse Investment, with 5Y Capital as co-lead. ByteDance retains 56% after the raise, per a second source. ByteDance and the investors did not immediately respond to Reuters. This is reported, not company-disclosed. HSG is not Sequoia Capital’s US /fund/sequoia page.

## Profile

- **Latest funding:** Inaugural external (reported) — $290M (September 2026)
- **Latest known valuation:** $1.5B (September 2026)
- **Total disclosed equity funding:** $290M
- **Stage:** other
- **Status:** private
- **Industries:** N/A
- **Coverage:** full
- **Last updated:** 2026-09-16
- **Latest funding investors:** HSG, IDG Capital, Hillhouse Investment, 5Y Capital

## Key facts

- Sep 16, 2026 Reuters: $290M at $1.5B — two people; company silent
- HSG, IDG Capital, Hillhouse led; 5Y Capital co-lead (sources)
- ByteDance 56% after the raise (second source)
- HSG ≠ Sequoia Capital US

## Funding history

- Inaugural external (reported) · $290M · September 2026
  Source: Https://www.reuters.com/legal/transactional/bytedance-completes-290-million-fundraising-ai-drug-unit-after-its-spin-off-2026-09-16/

## Related articles

- https://venturecapitaltracker.com/2026-anew-labs-290m-1-5b-hsg-idg
- https://venturecapitaltracker.com/2026-september-15-16-investment-news-grab-pulley-jack-jill
- https://venturecapitaltracker.com/2026-september-vc-news

**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.

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Source: https://venturecapitaltracker.com/startup/anew-labs