XiaoXiao Fund

XiaoXiao Fund is a solo-GP venture capital fund run entirely by Xiang Xiaohan, possibly the world's smallest VC at $3.3 million under management . The fund writes checks of just $200,000–$300,000 per deal and operates on less than $66,000 in annual management fees—meaning Xiang serves simultaneously as investor, analyst, legal, finance, and HR . elsewhere's reporting notes that the financial model remains unproven, with some LPs questioning whether a fund this size can be viable . elsewhere's corpus does not cover the fund's specific investment thesis or portfolio beyond its structural profile.