VC firm Lanchi bets on China AI, Hong Kong potential after parting ways with BlueRun
- Lanchi Ventures, which has over 200 portfolio companies in the technology, consumer, and healthcare sectors, expands to Hong Kong in global outreach
A year after parting ways with US venture capital (VC) firm BlueRun, its former China arm, VC firm Lanchi Ventures is looking to build on its new identity.
The early-stage VC firm is now expanding to Hong Kong, aspiring to leverage the city’s financial center status and talent pool to connect the newest generation of Chinese artificial intelligence (AI) entrepreneurs with global markets, Jui Tan and Terry Zhu, managing partners at Lanchi Ventures, said in an interview with the Post.
“One of our key goals is to position ourselves as a truly global VC fund,” said Tan in their newly-rented office in Admiralty. “Despite the geopolitical tensions, or perhaps because of them, both investors and entrepreneurs are more driven than ever to adopt a global perspective.”
“Many more Chinese companies are thinking globally from day one, asking themselves, ‘How can we create a world-class product?’ and we want to support that spirit,” Tan added.
Tan joined BlueRun in Silicon Valley in 2001 and set up its China operations in 2005 with headquarters in Beijing. Over the years, it grew into a powerhouse that now manages over 15 billion yuan (US$2.1 billion), and has placed bets on more than 200 start-ups across technology, consumer, and healthcare sectors.
Some of its most notable portfolio companies include electric vehicle maker Li Auto, in which Lanchi invested for five rounds before its listing in 2021 and now boasts of a US$21 billion market capitalisation.