Junjie Yan
闫俊杰
Junjie Yan is the founder and CEO of MiniMax, the Chinese AI company that listed on the Hong Kong Stock Exchange in January 2026 . Before founding MiniMax, he was a vice president at SenseTime, where he had already established himself as a prominent figure in the industry . Yunqi Capital, his earliest backer, first met him in spring 2021 before he had formally started the company—at a time when "foundation model" was not yet an industry buzzword—and went on to become MiniMax's sole angel-round investor . In early 2026, Yan outlined a strategic shift for MiniMax from "a large-model company" toward "an AI-era platform company" . His internal nickname at the company is "IO" (Input/Output) .
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Coverage
Yunqi Capital's Chen Yu: When Technology Paradigms Shift, Long-Term Opportunities Never Arrive Linearly | Yunqi Insights
Seeing the Long Term in Variables
云启资本·Booster Robotics' Portfolio Company MiniMax Kicks Off A-Share IPO: ARR Doubled in Two Months as AI Leader Accelerates Evolution | Yunqi Partners
Advancing Toward an AI-Era Platform Company
云启资本·The Unforgettable Series C Funding of Moonshot AI
A stroke of genius.
elsewhere别处发生·A Conversation with Manycore's Huang Xiaohuang: Fifteen Years as a Founder, Still a Youngster at Heart
A story about trust, growth, and mutual success.
线性资本·MiniMax Surges Over 356% in 108 Days, First Post-IPO Earnings Beat Expectations | Yunqi Capital
Model leap + commercial validation: continuous companionship, continuous evolution!
云启资本·Yunqi Capital Portfolio Company MiniMax Founder and CEO Junjie Yan Participates in Premier Li Qiang's Symposium
Growing Steadfast Through the Waves
云启资本·The Fundraising Stories of China's "Six Little Tigers": Six Paths, Six Lives
If Kimi ever goes public, will the bell-ringing photo look very different?
elsewhere别处发生·Congratulations to Yunqi Capital portfolio company *MiniMax* on its successful listing on the Hong Kong Stock Exchange! | Yunqi Capital
Never Stop Moving, Witnessing Growth
云启资本·Yunqi Capital Doers | MiniMax's Junjie Yan and Yonghao Luo's Four-Hour Deep Dive on "Hard but Right"
Before consensus emerges, choose the hardest path.
云启资本·On Y Transformers, We Spent 20 Questions with Crossroads You Care About | Please Answer 1998
Not Just Investing in People, But Recruiting Them Too
云启资本·Yunqi Family at WAIC: New Products, New Trends, New Connections — All in One Place | Yunqi Capital x World Artificial Intelligence Conference
Models Get Smarter, Agents Work Harder, Robots Stay Busier
云启资本·WAIC Opens Today, Yunqi Capital Lineup Is Ready | Yunqi Capital x World Artificial Intelligence Conference
This schedule is worth bookmarking.
云启资本·Ten Years of Entrepreneurship: The Stories of People Coming and Going in Kai Yu's Eyes at Horizon Robotics | Linear Voice
The only way to change the script is to change yourself.
线性资本·MiniMax Open-Sources Its First Unified Visual RL Framework, Launches Orsta Model Series | Yunqi Capital
Recently, **Yunqi Capital portfolio company MiniMax**, a leading domestic model startup, officially open-sourced its first unified framework for visual-task reinforcement learning (RL) — **V-Triune** — and simultaneously released the new **Orsta model series (7B–32B)** trained on this framework, which demonstrated significant performance gains on the MEGA-Bench Core benchmark.
云启资本·Yunqi Capital's Chengyu Mao in Conversation with SenseTime's Xu Li: 2025 — Is AI Entrepreneurship Getting Harder?
Run with a marathoner's mindset — just keep going.
云启资本·Yunqi Capital's Back-to-Work Special: 2025 — Talking Confidence with Tech Founders and Partners
The Lunar New Year holiday just past was anything but quiet in the global tech world. DeepSeek — that "mysterious force from the East" — shattered the assumption that top-tier AI performance requires top-tier computing power, reshaping the global AI landscape through a series of technical innovations and planting a seed of confidence for the year of innovation ahead.
云启资本·Five Embodied Intelligence Founders on Business Logic, Breaking Through Bottlenecks, and Differentiation Strategies | Yunqi Capital Practitioners --- *Note: This is a title/header translation. The full article content was not provided for translation. If you share the complete Chinese text, I can translate the entire piece following all specified guidelines.*
Chatting with Yunqi Capital, Astribot, Noematrix, Keenon Robotics, and RealMan Robotics
云启资本·MiniMax Drops New Model: New Architecture, and It's Open Source | Yunqi Capital
Becoming the "Ready Player One" of the Agent Era
云启资本·Yunqi Capital in Conversation with MiniMax's Junjie Yan: Looking Back at 2024, What Changed and What Stayed the Same in AI Entrepreneurship | Yunqi Doers
On Original Innovation Intent, Technical Roadmap, and Product Portfolio
云启资本·Wisdom Cultivates the New, Striding Forward on Ten Years | Yunqi Capital 2024 Investor Annual Meeting
Seize the present, embrace the future.
云启资本·VAST Closes New Funding Round: Is 3D the Last Ticket for AIGC?
Will 3D Be the Future?
暗涌Waves·Back-to-School Review: Is MiniMax's New "Multimodal Family Bucket" Any Good? | Yunqi Capital
Video, music, voice — it can do it all. Let's test it out together.
云启资本·Becoming China's Most Daily-Interaction Heavy AI Company: 15 Things MiniMax Got Right
There are two optimistic signals regarding large language models.
暗涌Waves·3 Yunqi Capital Portfolio Founders Named to *Fortune* "40 Under 40" China Business Elite List | Yunqi Capital News
Riding the Current with Innovators Beneath the Surface
云启资本·WAIC 2024 Observations: AI Comes Down to Earth | Yunqi Capital Attent!on Tech Notebook
Robots, foundation models, AI applications — what new heights are they reaching in China's race to the top?
云启资本·You've Got an Invitation | Yunqi Capital X WAIC
For three years running, we've come.
云启资本·Consensus Within Non-Consensus: A Conversation Among China's LLM Investors | Yunqi Tech π
New Wave, New Future
云启资本·Minimax's Yan Junjie in Conversation with Huang Mingming: AGI, There's Only One Path — the Hardest One
A Conversation on Non-Consensus and Long-Term Optimal Solutions
暗涌Waves·Yunqi Capital's Chen Yu: How He Became the Earliest Investor in MiniMax | "Attent!on" Crossover with "Jun Zhang's Business Talks"
Let's Talk About the Present and Future of LLM Venture Capital
云启资本·Vol.04 Yunqi Capital's Chen Yu: First to Bet on MiniMax, Behind the Scenes of LLM Investing | Crossover with *Zhang Xiaojun Jùn | Business Talk*
云启资本·Yunqi Capital Spring-Summer Issue | In the Bright Season, Innovation Grows with Wanwu Capital
AGI Practice, Business Breakthroughs, and Reflections This Spring and Summer
云启资本·MiniMax Founder Junjie Yan: First Principles on the Path to AGI | Yunqi Capital
What really needs to be done is to make technology and product iterate fast enough.
云启资本·Yunqi Capital | Let Ordinary People Use AI — Angel-Round Investee MiniMax Launches "Hailuo AI"
Ready-to-Go "Life Buddy"
云启资本·Yunqi Capital | In Conversation with MiniMax's Junjie Yan: AGI Isn't a Weapon — It's a Product Ordinary People Use Every Day
MiniMax is already one of China's most highly valued large language model companies.
云启资本·China's LLM Funding War: The Quick Death of Romance
Do the investors regret it?
暗涌Waves·
