BlueRun Ventures

BlueRun Ventures is an early-stage venture capital firm that officially rebranded its English name to Lanchi Ventures in 2023, though it continues to operate in Chinese as 蓝驰创投 . The firm manages over RMB 15 billion in assets and has backed nearly 200 companies across hard tech, enterprise technology, consumer technology, and biotech . Its investment approach centers on identifying what it calls "new species that redefine the future" — getting in early, often before a startup's business model has fully taken shape .

The firm is led by managing partners Jui Chan (陈维广) and Terry Zhu (朱天宇) . Chan has spoken publicly about the need for AI startups to think about business model integration from day one , while Zhu has acknowledged that current market valuations in the sector are elevated .

BlueRun's track record includes five consecutive rounds in Li Auto , as well as investments in Moonshot AI , the embodied intelligence startup AgiBot (智元机器人) , and Galaxy Universal (银河机器人), where it was the earliest backer and participated in three rounds . In 2024, it led a $60 million seed round for Kun Jing's new AI venture and invested in Yuaiweiwu, an AI education company founded by a former GSX executive . The firm has also led rounds in biotech, including AllinkBio's $42 million Series A , and in legal-tech startup PowerLaw AI .