What We Discussed with Silicon Valley Founders: BlueRun Ventures Hosts "Web3 & SaaS Explorer Day"

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On June 26, BlueRun Ventures hosted "Web3 & SaaS Explorer Day" in Silicon Valley, drawing over 100 Bay Area founders, entrepreneurs, and industry professionals, as well as university researchers and students interested in tech innovation and startups.

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At the event, BlueRun Ventures shared its perspectives on current market conditions and investment theses. Founders and executives from PingCAP, WhaleOps, Luchen Tech, BackCloud, Anchain.ai, and MetaForce, Inc. exchanged views on trends and innovation opportunities in Web3, enterprise services, open source, and cloud computing.

In his opening remarks, Jui Chan, Managing Partner of BlueRun Ventures, said: "The BlueRun team has been committed to early-stage tech investing for 20 years, across multiple startup cycles. We've observed that globalization and distributed models are becoming increasingly pronounced. As cross-disciplinary innovations emerge in Web3 and smart hardware, startup teams are more inclined to distribute themselves around the world. Chinese entrepreneurs now have a broader international perspective, and their connections to global markets have grown stronger."

BlueRun Ventures has deep roots in Silicon Valley. BlueRun Ventures was founded there in 1998, and BlueRun Ventures China was established in 2005. As a dual-currency fund, BlueRun Ventures manages over RMB 15 billion in assets, making it one of China's largest early-stage funds. It has invested in more than 150 startups, with portfolio companies including Li Auto, QingCloud, WhaleOps, and Jishi Design.

On the motivation behind this event, Chan said: "Tough times are often better for entrepreneurship. Many great companies were born during economic slowdowns. This is a good opportunity for us to gather and exchange ideas."

At the event, Shao Jiaping, Investment Partner at BlueRun Ventures, also noted: "During periods of slow economic growth, entrepreneurs should tackle harder problems. Only by doing so can they seize opportunities when markets improve, and make themselves less vulnerable to competitors."

BlueRun's further thinking on the market and Web3 includes:

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The future market will inevitably be global, and future outstanding companies will target global markets — because the digital world and its derivative products know no borders

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Pessimistic markets call for optimistic investors. BlueRun has several hundred million dollars ready to deploy into cloud computing, Web3, and their intersections

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The convergence of cloud computing and Web3 presents enormous opportunity. The cloud computing market is projected to grow rapidly from $33.1 billion in 2022 to $106 billion by 2029, at a CAGR of 18%. Meanwhile, cloud infrastructure and applications are being restructured for decentralized scenarios

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Entrepreneurship must ultimately create value for society, not zero-sum games. The combination of cloud computing, AI, and the real economy can generate concrete value. We believe Web3's full value release will come through integration with the real economy in both consumer and enterprise contexts

During the panel discussions, founders and executives from PingCAP, WhaleOps, and Luchen Tech, as well as from BackCloud, Anchain.ai, and MetaForce, Inc., engaged in lively discussions on enterprise services and open source development, and on the revolutionary opportunities brought by decentralization and Web3.

This event marked BlueRun Ventures' inaugural Silicon Valley salon focused on Web3 and SaaS. Going forward, BlueRun Ventures will continue to strengthen its presence and partnerships in North America, building an entrepreneurial ecosystem with local founders and industry experts, and maintaining its global focus on frontier innovation and commercialization — together, defining future technology and life from zero to one.

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Further Reading

BlueRun Ventures Closes New RMB 5.5 Billion Dual-Currency Fund

Bubble or Opportunity? We Say NO to the Metaverse | BlueRun Insights

BlueRun Ventures was established in Silicon Valley in 1998. BlueRun Ventures China was founded in 2005 as a venture capital firm focused on early-stage startups.

BlueRun Ventures China currently manages multiple USD and RMB dual-currency funds, with over RMB 15 billion in assets under management. It is one of the largest early-stage funds in China, concentrating on Pre-A and Series A rounds across hard tech and innovative interaction, enterprise technology, new consumer, and healthcare. It has invested in over 150 startups, including Li Auto, Waterdrop, QingCloud, Guazi Used Cars, Qudian, Songguo Travel, Ganji.com, Energy Monster, Yuntu Semiconductor, Machenike, CloudShen Intelligence, Anxin Wangdun, and BioMap.

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

The firm has also received consecutive honors from Forbes China, 36Kr, Cyzone, Caixin Media, CBNweekly, Jiemian, and other media outlets, including "China's Best Early-Stage Firm of the Year," "China's Top Venture Capital Firm," "Early-Stage Firm Most Welcomed by Entrepreneurs," and "Most Influential Early-Stage Firm of the Year."