BAI Capital

BAI Capital is a venture capital fund founded and managed by Long Yu (龙宇), who serves as its Founding and Managing Partner . The firm has built a distinctive track record in fintech, having systematically invested in the sector since 2014 with a portfolio that includes over 20 companies, more than half of which became segment leaders, 10 reaching scale profitability, and 7 attaining unicorn status or going public .

The fund is particularly notable for its early and sustained bet on Mexico. In 2020 it led the A+ round for Mexican fintech Stori and continued to lead subsequent rounds, eventually backing six Mexican companies in total—a concentration 暗涌Waves described as making BAI "probably the only fund among Chinese investors that became increasingly determined to invest in Mexico" . This geographic focus grew from the team's conviction that Chinese fintech capabilities were globally leading and exportable to emerging markets .

BAI's approach to global investing evolved between 2015 and the early 2020s, shifting from backing "China-based global companies"—Chinese entrepreneurs exporting supply chain and model advantages—to seeking "China-based international companies" founded by Chinese entrepreneurs who compete directly in overseas markets from day one . As Long Yu put it, China's two unchallengeable advantages for the coming decade are supply chain and engineering talent .