BAI Capital
BAI资本
BAI Capital is a venture capital fund founded and managed by Long Yu (龙宇); its disclosed positions include leading investments in Stori and Trubit, and it also appears as an LP in Joy Capital. That's roughly the extent of what elsewhere's corpus covers — the fund shows up mainly as a name in other funds' LP rosters and deal announcements, so details like fund size, founding year, and broader strategy aren't documented here.
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Coverage
Three-Hour Interview with Juanjuan: From Douyin to AI 3D, the Rollercoaster of Entrepreneurship, Ambitions to Become Manufacturing OS, and Why Foundation Models Won't Swallow Everything!
"What Makes You Love an Industry for 15 Years?" | A Conversation with Wang Tianfan: I Want to Invest in True Joy, the Purest Vision, and the Brilliance of Human Nature [Highway Podcast]
"What Makes You Love an Industry for 15 Years?" | A Conversation with Tianfan Wang: I Want to Invest in True Joy, the Purest Vision, and the Brilliance of Human Nature [Highway Podcast]
Meshy Closes Nearly $400 Million Series B, Source Code Capital Continues to Double Down
Source Code Capital led the company's Series A round in 2021, and continued to increase its investment in subsequent rounds, providing long-term support for the company's growth.
Global payments and monetization platform Waffo has raised over $15 million in a Series A round, co-led by Gaorong Ventures
Provides global payment and monetization infrastructure for companies in gaming, AI, SaaS, digital content, and other industries.
Gen Z, UC Berkeley Dropout, Backed by Hillhouse, BAI, and MiraclePlus: Li Wenxuan's Escape Route and AI Gamble
Can't someone born after 2000 be obsessed with cash flow?
Where Did the Money Go? Who's Still Writing Checks? A 2025 VC Debrief With Jing Liu
VC takes a certain amount of instinct.
After Raising Over 400 Million, This B2B Company Rejected the Grand Startup Narrative | Linear Voice
Business itself is also a complex hard science.
After Raising $60 Million, Whaley Technology's Shengxu Ye Says Business Model Is the Starting Point of Everything
Reject grandiose startup narratives.
A Spring Weekend Evening Discussing AI Progress and Opportunities in 2025 | Shanghai Offline Salon Recap
We talked until 11 p.m. again.
[Shanghai Offline Salon] AI's First 100 Days of Upheaval: After DeepSeek, Manus, and GPT-4o, Where Does VC Go in 2025?
开年到现在的这 100 天，AI 领域风起云涌，从 [**DeepSeek 的突破**](https://mp.weixin.qq.com/s?__biz=MzAxMDMxOTI2NA==&mid=2649090936&idx=1&sn=3eb049d79d7d950c8f66408dd05c27e
"If you bloom, butterflies will come" — How Hillhouse and ZhenFund Partners See New AI Startup Opportunities
If you bloom, butterflies will come.
Crossing March Offline Salon Recap: What AI Startup Opportunities Exist in the Post-DeepSeek Era?
We recently pulled off "something big."
2024, When Everyone Stands at a Crossroads: 96 Investors' Decisions
Deciding is easy. Waiting is hard.
To AI Founders: In 2025, Go to These VCs for Funding | Debriefing a Year in Primary Markets with Jing Liu of "Waves"
"2024: Who's Still Actively Investing in AI?"
Long Yu and Her Twenty Friends in Mexico | Waves World View
Someone said, "My whole life has been elevated."
A Chinese-American Company's Mexican Gold Rush | Dark Tide Goes Global
A new specimen rising on a complex new continent.
Chinese Investors Who Got to Mexico First | Dark Tide Goes Global
There will always be more people rushing in to take their place.
MaKe | MaHui Member Stori Raises Another $212 Million, Deepening Its Leadership in Mexico's Financial Sector
Stori, a trailblazer in financial inclusion, continues pressing forward on its mission.
Two Roads Diverge, But You Can't Travel Both | 2024 · Under 36
Make your choice.
Rongbao | Major Acquisition in Innovative Drugs; Laser Chips, Quantum Computing, and Global Payment Platform Secure New Funding
"Every step forward feels like a bloom."
14 Tips on Mexico
Waiting for the wind in Mexico.
BAI's Penglan Zhao: In Mexico, Waiting for a World-Class Tailwind
Harder but more profitable.
A Globalization Guide for Chinese Founders: Slicing the World Horizontally
The word "globalization" — so brief, yet it encompasses so many narratives.
Two Masterstrokes in NIO's Fundraising History
There is no successful fundraising, only fundraising of the times.
"You're only 36. You can be anyone you want to be."
Never stop moving forward.
From the Big League to the Niche: The Glory Days of a Generation of Chinese VCs
How they will rethink fame, cycles, and investment.
Standing Firm in European Venture Capital Amid the Sound of Gunfire
This is more than a gold rush — it's a shift in the underlying logic of the global venture capital story.
9 Funding Rounds from Spring | FreeS Family Funding News · Vol 9
Walk alongside more outstanding founders.
April: Imagination Is the Courage with Which We Face the World | 5Y News Monthly
The big news from last month.
Metaverse Ecosystem Platform Oasis Raises Tens of Millions of Dollars in Series B Funding | Led by Oasis Capital
Hearts of Iron
5Y News | Metaverse Ecosystem Platform *Oasis* Raises Tens of Millions of Dollars in Series B Funding
Explore and create new order.
Taichi Graphics Raises $50 Million in Series A Funding Led by Source Code Capital
Dedicated to empowering every ordinary person to create their own digital world.
November: Foresight and Boundless Imagination | 5Y News Monthly
The big news from last month.
5Y News | ClickPaaS Announces Completion of Tens of Millions of Dollars in B+ Round Funding, Doubling Down on Low-Code Ecosystem Development
Accelerate enterprises' digital transformation.
Source Code Capital Portfolio Company Mannkando Raises Nearly $10 Million in Pre-A Round, with Source Code Capital Continuing to Increase Its Stake
Supply chain advantages were scaled up further through deep partnerships with nearly 200 premium European repair shops.
Biotech Firms Raise Nearly 4 Billion Yuan, Consumer Companies Land Over 1.4 Billion | FreeS Family Funding Roundup · August
We've also released three short videos this week — follow us to check them out.
September, When Hope Will Break Through Like the Sun | 5Y News Monthly
The big news from last month.
Source Code Capital portfolio company Galixir announced the completion of a new funding round, with existing shareholder Source Code Capital continuing to increase its stake.
Continuously exploring the application of AI technology to empower innovative drug R&D
5Y News | Galixir Completes New Strategic Funding Round, Continues Advancing Drug R&D Pipeline
5Y Capital continues to watch for opportunities where information technology can be applied in healthcare and medicine.
As Fierce as August | 5Y News Monthly
The big news from last month.
5Y News | Neox Biotech Completes Tens of Millions of Dollars in Series A+ Funding to Advance Innovative Drug Pipeline
5Y Capital continues to provide support.
5Y News | After Raising Hundreds of Millions in Three Consecutive Rounds, "Yahaha" to Build Real-Time Digital Entertainment UGC Platform
A no-code, multiplayer interactive entertainment creation platform for global users.
Rongbao · May | Pinduoduo Enters the Era of 800 Million Users, Waterdrop Inc. Debuts on the NYSE
Meeting the needs of China's vast user base for a better life.
Innovusion, a global leader in image-grade LiDAR, has completed a $64 million Series B funding round.
Committed to delivering safer, smarter, and more efficient transportation and mobility.
April, When All Things Grow | 5Y News Monthly
Looking back at last month's big events, ready to take on Q2 with full confidence.
To Better Kick Off March | 5Y News Monthly
The major events of February.
5Y News | Low-Code Platform ClickPaaS Closes Tens of Millions of Dollars in Series B Funding, 5Y Capital Continues Support
Empowering enterprise digitalization through standardized capabilities.
5Y News｜Neox Biotech Completes $30 Million Series A Round, 5Y Capital Continues Support
Exploring the most cutting-edge drug modalities.
5Y News｜Keep Closes $360 Million Series F Round, 5Y Capital Continues Backing
Exercise is just a Keep moment.
Galixir, a Source Code Capital portfolio company, raises tens of millions of dollars in funding, with existing investor Source Code Capital continuing to increase its stake
Galixir's technical capabilities are built on sophisticated AI models, enabling end-to-end coverage of drug discovery from hit compounds to preclinical candidates.
5Y News | Galixir Announces Completion of Tens of Millions of USD in Funding, with Continued Backing from 5Y Capital
Breaking the Bottleneck in New Drug R&D with "AI+"
Mexican Digital Bank Stori Announces $10 Million Series A+ Round Co-Led by Source Code Capital
Stori also announced the official launch of the Stori digital credit card in Mexico, adding a market-leading fully online application and usage experience to its existing physical credit card that can be used on global credit card networks.
!["What Makes You Love an Industry for 15 Years?" | A Conversation with Wang Tianfan: I Want to Invest in True Joy, the Purest Vision, and the Brilliance of Human Nature [Highway Podcast]](/_next/image?url=https%3A%2F%2Fkkcktdhgzddmdjdjoenc.supabase.co%2Fstorage%2Fv1%2Fobject%2Fpublic%2Fmedia%2Fimages%2F874d29c6-c8ee-483f-b3b3-b65ebcb898aa%2Fe67a6b48f52b.jpg&w=384&q=75)
!["What Makes You Love an Industry for 15 Years?" | A Conversation with Tianfan Wang: I Want to Invest in True Joy, the Purest Vision, and the Brilliance of Human Nature [Highway Podcast]](/_next/image?url=https%3A%2F%2Fimage.xyzcdn.net%2FFsmE9i8BOUSYw-Y4cgTaDsaAcG3Y.png&w=384&q=75)
![[Shanghai Offline Salon] AI's First 100 Days of Upheaval: After DeepSeek, Manus, and GPT-4o, Where Does VC Go in 2025?](/_next/image?url=https%3A%2F%2Fkkcktdhgzddmdjdjoenc.supabase.co%2Fstorage%2Fv1%2Fobject%2Fpublic%2Fmedia%2Fimages%2F874d29c6-c8ee-483f-b3b3-b65ebcb898aa%2F6b0037f0b673.jpg&w=384&q=75)
