BlueRun Ventures

BlueRun Ventures, now formally rebranded as Lanchi Ventures, is an early-stage Chinese venture capital firm that formally severed its shared English name with Silicon Valley's BlueRun Ventures in September 2023 to operate as an independent brand . The firm is led by managing partners Jui Chan (陈维广) and Terry Zhu (朱天宇), with Chan explaining the move as a way to better serve founders amid the global ambitions of Chinese entrepreneurs .

The firm styles itself around betting on "new species" ahead of consensus, and has built a track record of consecutive bets on breakout companies: it backed Li Auto across five consecutive rounds , was the first investor in Galbot (银河通用) and followed on for three rounds , and secured a spot in AgiBot (智元机器人) . In AI, it was the first to issue a term sheet for Moonshot AI's Series A1 round despite internal debate over founder Yang Zhilin's relative inexperience, a bet that paid out as Moonshot's valuation climbed to $3 billion by mid-2024 . As of late 2023, Lanchi managed over RMB 15 billion across nearly 200 portfolio companies spanning hard tech, enterprise software, consumer tech, and biotech .