At This Year's Year-End Party, My Colleague Got Upstaged by AI | A Yunqi Capital Holiday Gathering Notes
AI, and each other
Using AI to assist with sector analysis, using AI to design year-in-review decks, using AI to produce video performances — even front-, middle-, and back-office teams taking turns pitching their favorite AI tools...
If we had to tag this year's Yunqi Capital year-end party with one label, the standout would be: extremely high AI content.
As a technology-driven VC firm, we're not only immersed in evaluating AI trends but also genuinely integrating AI into our daily collaboration and decision-making. This year-end week, where silicon-based and carbon-based intelligence were deeply intertwined, was a concentrated showcase of how Yunqi people actually work.
Of course, this year's gathering wasn't all about AI. Yunqi, approaching its 12th zodiac year, is becoming richer and more diverse. Immersive collaboration, immersive visibility, and immersive joy were also defining keywords of this annual assembly.
Humans and AI shared the stage, lights and algorithms took turns, and one highlight after another unfolded...
Retrospectives and Sharing
Yunqi maintained its high-density, high-intensity pace over the past year. We completed 30+ new investments, made progress on exits for multiple portfolio companies, and advanced fundraising efforts.
Behind the numbers lies the hard work of every colleague. From overall progress across fundraising, investing, portfolio management, and exits, to functional modules and business dynamics in different roles — work scattered across different systems and rhythms came together in departmental discussions and all-hands meetings.
Meanwhile, we thoroughly dissected and calibrated our judgment frameworks through retrospectives on portfolio companies, investment sectors, and missed deals, providing clearer reference frameworks for subsequent decisions.
Systematically exchanging ideas and sharing new knowledge is a long-standing "annual tradition." Beyond aligning on investment strategy and priorities, this year's AI tool-sharing session was particularly lively.
Unlike previous years, colleagues from front, middle, and back offices all "shilled" their favorite AI tools. From advanced use of mainstream tools like GPT and Perplexity to practical assistants for work scenarios, life hacks, and even Yunqi-style parenting... speakers kept planting ideas, collectively refreshing our sense of where efficiency boundaries lie.
Seeing Collaboration
In recent years, "change" and "uncertainty" have been near-constant themes across the industry and markets. Amid so many variables, how do we achieve sharp judgment, resolute execution, and flexible adaptation?
At the second stop of our journey — "See You · Workshop" — we spent an afternoon running a simulation about change and uncertainty.
Rich game formats built a space for full collaboration, and teammates' collaboration "secrets" emerged organically:
Some took on organizational roles, establishing foundations for teamwork; others rapidly constructed coordinate systems, categorizing and integrating scattered fragments; some spoke up first in information blind spots, setting direction with decisive judgment; others flexibly filled gaps, adapting to the flow.
The workshop's core segment concluded with an intense team challenge. Though it ended with a 3% error rate, we focused more on teammates' organized coordination and information sharing throughout the collaboration, and on the true meaning of "retrospective" — returning to root causes, identifying improvable items, and doing our best. Daring to judge, continuously iterating, and thinking from multiple perspectives — these are the crucial traits that make us better over time.
At the workshop's close, three managing partners shared reflections on investing, collaboration, and teamwork in a "press conference" Q&A.
Chen Yu, Managing Partner, Yunqi Capital
- Investing inherently means venturing into the unknown. My investment philosophy is somewhat idealistic — I look forward to continuing to focus more energy on future technologies.
- Our AI portfolio has delivered beyond expectations. MiniMax hit a hundred-billion market cap on its listing day. But this is just the beginning. I believe 2026 will bring more milestone achievements from portfolio companies, and I look forward to continuing with the team to invest in that unknown future.
Huang Yubin, Founding Managing Partner, Yunqi Capital
- Achieving 97% in this challenge was already no small feat. Trial and error itself is the beginning of the path to better results next time.
- I think we're like the Monkey King — different backgrounds, different personalities, but unstoppable when we work together.
- Whether making judgments or using AI tools, there's no need to fixate on a single perspective — let different models, people from different backgrounds dialogue and calibrate with each other. That's when answers become more complete.
Mao Chengyu, Founding Managing Partner, Yunqi Capital
- The more turbulent the times, the more you need to hold steady at your core. As long as the core doesn't change, everything else can be gradually adapted and absorbed.
- In an era where information asymmetry is being flattened, the offline relationships formed through working and living together are irreplaceable. The more important long-term value is how many people you still have by your side who can truly stand shoulder-to-shoulder with you.
- Being able to work together, experience things together, and walk through changes together is itself a way to combat anxiety and cross cycles.
From Yunqi to Yootopia
As night fell, Yunqi switched to Yootopia mode. Yunqi people once again made "work hard, play harder" concrete.
A Zootopia-inspired celebration let Yootopia's "species diversity" fully unfold. From Yunqi versions of Judy, Nick, and Officer Clawhauser to Spider-Man, the Green Snake, and the Crane Immortal... characters from different stories shared the stage, imagination maxed out.
As games and performances progressed, the typically professional and rigorous Yunqi people were "unlocked" in another way for one night.
Notably, this was also the most AI-heavy year-end dinner in Yunqi history. Over 60% of the evening's performances were "completed on stage" by AI.
From daytime discussions and sharing to the nighttime stage, AI quietly wove itself in, becoming part of Yootopia and adding a distinctly contemporary footnote to the revelry.
Next Stop: The Future
Amid celebration and well-wishes, the year-end week drew to a close. This annual gathering brought greater clarity to all of us, and greater conviction about the road ahead.
In 2026, Yunqi entering its zodiac year will continue to its next stop. Together, we forge ahead into the future!
Keep moving forward. We look forward to seeing more possibilities and creating more surprises.
On the journey to explore the future
We're also calling for new partners to join us
Highlights!!
The following positions remain open:
- Hard Tech Investor
- AI Investor
Please send resumes to: hr@yunqi.vc
