Finding Your Market — June & July Bimonthly Report

The return on any asset can be decomposed into two parts: Beta — the broad market, and Alpha — excess returns. The Beta of our lives is the trajectory of the era. When the times change dramatically, expectations are meant to be adjusted, models are meant to be broken, and it's hard not to feel like life is but a sojourn.

But this past July, in the Great Sea Road of Hami, Xinjiang, we saw what endures — after eons of tectonic shifts, continuous earthen mountains stand tall, with layers of wind-scoured scratches upon them. Time lets ephemeral wind cleave through solid rock.

Vast deserts and long rivers, sunset over the Gobi, eternal since time immemorial. Nothing stays the same, yet in a sense, nothing ever changes. Just as we press forward on undefined paths, carrying summer in our hearts, blazing ahead.

BlueRun Ventures Exclusive Investment

VITURE Closes Nearly $10 Million Series A+

This round was led exclusively by BlueRun Ventures. VITURE positions its products as high-end consumer XR glasses, with content focused on AAA console gaming and immersive cinematic experiences. The funding of nearly $10 million will be directed toward two areas: enriching the XR experience through OTA updates; and mass production.

Xinchen AI

Receives Additional Strategic Investment from Talking Tom

This round exceeds 100 million RMB. Both parties will accelerate the application and deployment of large language models. BlueRun Ventures was the lead investor in Xinchen AI's angel round and has continued to invest in subsequent rounds. Additionally, Xinchen AI has officially launched its self-developed general-purpose large language model — "Xihu Large Model."

ZeroG Aircraft Industry

Completes New Funding Round

ZeroG Aircraft Industry is an innovative enterprise in manned electric vertical take-off and landing (eVTOL) aircraft, led by an academician and technologically advanced. This angel round raised nearly 100 million RMB, which will be used for the R&D and flight testing of ZeroG's flagship model ZG-T6 (6-seat, tiltrotor configuration) full-scale technology demonstrator, and to further support production and airworthiness work for other models. BlueRun Ventures was the exclusive seed-round investor in ZeroG.

BioMap

Launches Authoritative Life Science Benchmark "Life Science Leaderboard"

The "Life Science Leaderboard" evaluation covers 26 representative and cutting-edge tasks across 6 directions. Meanwhile, BioMap's "xTrimo" large model system achieved SOTA performance across all 26 tasks. As an efficient, scalable pre-training framework, xTrimoGene achieves at least 3x speed improvement compared to previous single-cell pre-training models (such as scBERT). The scFoundation research explored the framework's specific improvements for additional single-cell downstream tasks.

TCab Tech

Unveils E20 eVTOL Prototype

The E20 eVTOL is a domestically developed electric vertical take-off and landing manned aircraft, adopting a leading tiltrotor configuration with self-developed tilt control laws; it reduces noise, improves charging speed, and increases cruise range and speed, effectively enhancing safety, improving structural efficiency, and making the entire aircraft more lightweight.

Boray Data Launches Vector Storage Query Engine and LLMOps Platform The vector storage query engine (Rapids VectorDB) features data vectorization storage and vector indexing capabilities, enabling enterprises to efficiently and easily apply large language models perfectly suited to business scenarios based on general-purpose LLMs, thereby achieving domain-specific knowledge Q&A, recommendation ranking, anomaly detection, and other functions and applications. Meanwhile, Boray Data was again recognized as a national-level "Little Giant" specialized and sophisticated enterprise, and named an "IDC Innovator" in China's data intelligence field by IDC.

Vack Security

Launches VackGPT Large Model

VackGPT is built on high-quality Chinese cybersecurity corpora and premium source code data, with a parameter scale of 7 billion, making it a specialized large model for the cybersecurity domain. VackGPT focuses on the cybersecurity vertical, tracking professional cybersecurity forums to obtain knowledge on current hot cybersecurity incidents, providing high-quality, trustworthy knowledge output. Meanwhile, Vack Security was selected for the "Top 100" in the 2023 China Fintech Enterprise Competitiveness Report.

Energy Singularity

Completes Development of Honghuang-70 Tokamak TF Magnets

Recently, the first toroidal field (TF) coil for the Honghuang-70 high-temperature superconducting tokamak device was completed. A single TF magnet resembles the capital letter D in shape, formed from high-temperature superconducting tape through winding, insulation, impregnation, and other processes. Twelve TF magnets of identical dimensions and parameters will together form the toroidal magnetic field of the Honghuang-70 tokamak.

TCab Tech

Unveils E20 eVTOL Prototype

The E20 eVTOL is a domestically developed electric vertical take-off and landing manned aircraft, adopting a leading tiltrotor configuration with self-developed tilt control laws; it reduces noise, improves charging speed, and increases cruise range and speed, effectively enhancing safety, improving structural efficiency, and making the entire aircraft more lightweight.

Youibot

Receives Multiple Recognitions

National "Little Giant" Specialized and Sophisticated Enterprise

Innox Shenzhen | 2022 Shenzhen Potential Tech Unicorn Enterprise

Shenzhen Municipal Industry and Information Technology Bureau | First Batch of Shenzhen Intelligent Robot Application Demonstration Typical Cases

Gaogong Mobile Robot Industry Summit | 2023 Mobile Robot Industry TOP30 List

Minhang AI Industry Innovation Summit and Intelligent Robot Summit Forum | Outstanding Industrial Robot Enterprise

Signed strategic cooperation agreement with Shenzhen Unicom

PPIO

Partners with Tianjin University

to Establish Joint Innovation Lab

The joint innovation lab will combine both parties' advantages in edge computing, leveraging an integrated innovation model led by outstanding research teams and computing enterprises, driving the dual engines of scientific research and talent cultivation, jointly pursuing high-quality industrial development, and exploring new paradigms for integrated industry-academia-research development in edge computing.

Additionally, PPIO received multiple recognitions:

CAICT | 2023 "Distributed Cloud Technology Innovation Pioneer Case"

CAICT | 2023 "Edge Computing Best Practice Pioneer Case"

IDC | Consistently ranked in China Edge Cloud Reports

WAYZ.AI and Founder

Receive Shanghai Science and Technology Award The Shanghai Municipal Party Committee and Government convened the Shanghai Science and Technology Award Conference, honoring scientific and technical workers who have made outstanding contributions to the nation and Shanghai's scientific and technological undertakings and modernization. WAYZ.AI's major participation in the project "High-Density Urban Public Space Health Examination Key Technology Integration and Application" won the Shanghai Science and Technology Progress Award, and WAYZ.AI founder Dr. Tao Chuang was honored as a Shanghai Science and Technology Progress Award recipient.

Botree Recycling

Reaches Cooperation with Multiple Organizations

Joined the Global Battery Alliance (GBA), with CEO Dr. Lin Xiao serving on the GBA Battery Passport Steering Committee.

Joined the UN Global Compact (UNGC), committing to support UNGC's ten principles across four areas: human rights, labor standards, environment, and anti-corruption.

Signed strategic cooperation framework agreement with Suzhou Colepen Mechanical Technology Co., Ltd.

Signed cooperation agreement with Ant Group Digital Technology to jointly serve the low-carbon digitalization of the battery industry and develop a characterized carbon footprint accounting SaaS platform aligned with battery industry methodologies.

Machenike

Partners with JAC Motors to Advance Intelligent Driving Mass Production

Machenike and JAC Motors formally signed a comprehensive deepening strategic cooperation agreement in Hefei. Under the agreement, both parties will collaborate on intelligent driving technology mass production and forward-looking R&D, achieving complementary strengths and mutual development, and building a sustainable strategic partnership.

Additionally, Machenike received multiple recognitions:

Yanzhi Auto "Zhiding Award" | Intelligent Electric Vehicle Technology Innovation Award (Intelligent Driving Domain)

6th Zhongguancun International Frontier Technology Innovation Competition | Intelligent Connected Vehicles TOP10

2023 Gaogong Intelligent Auto Developer Conference | Intelligent Driving Domain Controller Front-Mount Local Supplier TOP10

2022 Auto Electronics Science and Technology Award | Technology Invention Award & Most Investment-Worthy Technology Invention Award

China Intelligent Connected Vehicle Innovation Achievement Conference | China Intelligent Connected Vehicle Innovation Achievement Award

Gaussian Robotics

Receives German Design Award The German Design Award represents new trends in German design development. Due to its authoritative nomination and selection mechanism, it is known as the "prize of prizes" in the design field. German Brand and Design Council General Manager Dr. Martin Lockl and Greater China General Manager Wang Lei visited Gaussian Robotics to formally present the German Design Award.

Cloud Storage New Energy

Wins Silver Medal at 2023 Paris Invention Fair

The "5G Communication Digital Power Supply System Based on Digital Energy Computing Technology," developed by Cloud Storage New Energy Founder and Chief Scientist Dr. Ci Song, was selected for exhibition as part of the Chinese delegation's inventions, and successfully won the silver medal at the 2023 Paris Invention Fair.

Blue芯 Technology

Receives "CAA Science and Technology Progress Award"

Blue芯 Technology's participation in the project "Key Technologies and Applications of Cluster Collaborative Soft Packaging Intelligent Manufacturing Based on Intelligent Perception and Autonomous Control" won the 2022 CAA Science and Technology Progress Award (Second Prize) from the Chinese Association of Automation.

Cloud Saint Intelligence

Honored as Tianjin Gazelle Enterprise This is high recognition of Cloud Saint Intelligence's remarkable achievements in innovation, development, and growth over the past five years, as well as an expectation for the company to continue playing an industry-leading role in the future.

Anxin Shield

Receives China Cybersecurity Industry Alliance Award

China Cybersecurity Industry Alliance (CCIA) | 2023 China Cybersecurity Industry Competitiveness Top 50, Rising Star, Potential Star

BlueRun Ventures Hosts

Hong Kong "Explorer Day"

BlueRun Ventures hosted Explorer Day for global entrepreneurs in Hong Kong. The event, themed "AI Reaches the Singularity Moment: Capturing the Next Trillion-Dollar Era," featured BlueRun Ventures Managing Partners Jui Chan and Terry Zhu, along with outstanding portfolio company representatives. They engaged with over 100 venture capital professionals from local enterprises, government associations, academia, and investment institutions, sharing insights on AI, robotics, biotechnology, fintech, and other fields. This was the third Explorer Day following events in Silicon Valley and Singapore.

BlueRun Ventures Hosts

"AI + Human-Computer Interaction" Online Salon

The salon, themed "AI-Driven Human-Computer Interaction," explored what human-computer interaction will look like under AI-driven paradigms. The salon invited Tian Feng, human-computer interaction expert at the Chinese Academy of Sciences and Deputy Director of the Human-Computer Interaction Special Committee of the China Computer Federation; Li Haoqian, CEO of Oladance; Jiang Gonglue, CEO of VITURE; Huang Haowen, Senior Developer Evangelist at Amazon Web Services; Fan Xiangmin, CEO of Sinorythm; and Liu Yitong, CEO of Yuanlai Technology.

PEDaily

Jui Chan | 2023 PEDaily TOP100

36Kr

"Most Welcomed by Entrepreneurs"

"Most Influential / Most Growth Potential" List

BlueRun Ventures | Most Welcomed by Entrepreneurs Early-Stage Investment Institution TOP2 BlueRun Ventures | Most Influential Early-Stage Investment Institution TOP10 Jui Chan | Most Welcomed by Entrepreneurs Investor TOP100

TMTpost

2023 H1 Pioneer List

BlueRun Ventures | Early-Stage Investment Institution Fundraising Pioneer TOP10 BlueRun Ventures | Early-Stage Investment Institution Investment Pioneer TOP10 BlueRun Ventures | Early-Stage Investment Institution Exit Pioneer Top10 BlueRun Ventures | Post-Investment Management Pioneer Top20 BlueRun Ventures | AI Sector Investment Pioneer TOP20 BlueRun Ventures | Advanced Manufacturing Sector Investment Pioneer TOP20 BlueRun Ventures | Enterprise Services Sector Investment Pioneer TOP10

Rongzhong Caijing

2023 China Industrial Investment List

BlueRun Ventures | 2022-2023 China's Best Early-Stage Investment Institution in New Consumption TOP5 BlueRun Ventures | 2022-2023 China's Best Early-Stage Investment Institution in Advanced Manufacturing TOP10

Diyixinsheng

2023 Q2 China's Most Active Institutions List

BlueRun Ventures | Most Active Early-Stage Investment Institution TOP30 BlueRun Ventures | Most Active Institution in AI TOP20

Previous Content

Originating in Silicon Valley, BlueRun Ventures was established in 2005 as a venture capital firm focused on early-stage startups.

Currently, BlueRun Ventures manages multiple USD and RMB dual-currency funds in China, with assets under management exceeding 15 billion RMB, making it one of the largest early-stage funds domestically. The firm invests primarily at Pre-A and Series A stages, covering hard tech and innovative interaction, enterprise technology, new consumption, and healthcare. It has cumulatively invested in over 150 startups, including Li Auto, Waterdrop, QingCloud, Guazi Used Car, Qudian, Songguo Mobility, Ganji.com, Energy Monster, Yuntu Semiconductor, Machenike, Cloud Saint Intelligence, Anxin Shield, BioMap, and others.

BlueRun Ventures has been ranked #1 in Zero2IPO's "China Top 30 Early-Stage Investment Institutions" and ChinaVenture's "China Best Early-Stage Venture Capital Institutions TOP30," and was named among Preqin's Top 10 globally consistent high-return VC fund managers.

Additionally, BlueRun Ventures has consecutively received honors from Forbes China, 36Kr, Cyzone, Caixin Media, CBNweekly, Jiemian, and other media organizations, including "China's Best Early-Stage Institution of the Year," "China's Top Venture Capital Firm," "Most Welcomed by Entrepreneurs Early-Stage Investment Institution of the Year," and "Most Influential Early-Stage Investment Institution of the Year."