Dayone Capital

Dayone Capital (日初资本) is an investment fund with a focus on Chinese companies going global. Ruan Fei served as head of its overseas business, drawing on more than a decade of VC experience in cross-border investment . In a 2025 discussion on navigating tariff pressures, Ruan advised portfolio companies to gradually raise prices over six months with the aim of having U.S. customers absorb 70% of tariff costs while the company shoulders 30%, then watch for market share shifts . The fund's founding and managing partner Chen Feng, in a year-end 2024 reflection, described the firm's posture as "continuing to review projects and make investments steadily" while "remaining vigilant in prosperity" . Ruan has since departed to launch his own fund: as of April 2026, he was raising a tens-of-millions first close for a solo GP vehicle, with a USD fund targeting similar size in parallel .