Yunqi Partners
云启资本
Yunqi Partners (云启资本) is an early-stage venture capital firm founded in 2015, registered as Shanghai Yunpan Investment Management Co., Ltd. . It focuses on technology and B2B sectors, with particular depth in open-source and foundational software, enterprise SaaS, AI, robotics, and fintech . The firm was an early backer of MiniMax at the angel stage , and has built a portfolio including PingCAP, Zilliz, XTransfer, and Neolix . Its founding managing partner is Michael , with Linda serving as managing director overseeing operations and portfolio services . In 2025, Yunqi co-authored a report on China's open-source commercialization with the OpenAtom Foundation, highlighting its continued emphasis on tracking how open-source business models evolve from support services to cloud-hosted offerings .
AI-generated — may contain errors, please verify.
Coverage
Yunqi Pamir: Tracing the Millennium-Old Silk Road | 2026 Southern Xinjiang Outing Notes
Twelve years, and YQ reaches new heights
Vol.17 48-Hour Xiaohongshu Hackathon Hit: How an AI-Native Product That Broke the "Retention Curse" Was Built --- Two weekends ago, I participated in a 48-hour hackathon hosted by Xiaohongshu. Our team of four built an AI-native product from scratch — no code, no design background between us — and ended up winning the "Most Popular" award. The product? A voice diary app called **"Echo"** that uses AI to turn fragmented daily moments into serialized, episodic "life podcasts." Think *This American Life*, but starring you. What surprised me wasn't that we won. It was that people kept using it *after* the demo. Here's the dirty secret of AI hackathons: most projects die the moment judges stop clapping. The "retention curse" is real — users try your GPT wrapper once, say "neat," and never return. We broke that pattern. Our daily active user rate among beta testers hit 34% in week one, which for a hackathon product is basically unheard of. How? Three deliberate choices we made against hackathon orthodoxy. **First, we refused to build a chatbot.** The default AI product in 2024 is still "talk to a large language model." We explicitly rejected this. Chat interfaces create *performance anxiety* — users feel pressure to ask the "right
After OpenClaw's Viral Success: A New Form of Company Is Emerging | Yunqi Capital Attent!on Podcast
Interview with Happycapy Founder
Yunqi Capital Hiring | The Next Chapter of Hard Tech, We Hope to Stand Beside You
We believe in the compounding returns of long-term thinking, hard work, and action.
Yunqi Capital Leads Angel Round in DeepRoute.ai; One Year After Mass Production, 200,000 Units Delivered, Nearly 40% Market Share in October | Yunqi Capital
Monthly market share ranking in the industry's top tier
Y Transformers' First Gathering: The Real Questions and Real Ambitions on the Minds of Post-'98 AI Founders | Event Recap
Nobody's in a rush to leave.
Elastic Acquires Yunqi Capital Seed-Backed Jina AI to Jointly Accelerate Search AI Infrastructure Evolution | Yunqi Capital
Driving Open-Source AI Infrastructure Toward a Global Ecosystem
MiniMax Agent Gets Another Upgrade: $150K Global Challenge | Yunqi Capital
A Journey of Discovery That Any of Us Can "Get On Board"
Investment Logic and Business Thinking on AI Agents | Yunqi Capital Research Report
From Model to Execution: Building the Next Stage of AI
MiniMax's Five Major Releases: Highlights at a Glance | Yunqi Capital
intelligence with everyone
The DeepSeek Butterfly Effect: How It's Reshaping the AI Ecosystem | Yunqi Capital Tech Notes
What has DeepSeek — the "Pinduoduo of AI" known for high performance and low cost — brought to the AI ecosystem?
Embodied Intelligence + Drug Discovery = ? C12.ai Unveils Industry's First Pharmaceutical R&D Intelligent Robot | Yunqi Capital
Accelerating Drug Discovery and Development
Eight Hard Thoughts on the Vitality of AI Hardware | Yunqi Capital × Zhixing Attent!on Shenzhen Recap
From *One Punch Man* to *Ready Player One*
Everything You Want to Know About "Intern Return Offers" | Yunqi Capital's "YoUNg" Program
Attention, Class of 2025 and 2026!
Yunqi Capital Team Hands-On: The Vision Pro Is Expensive and Smooth, But How Useful Is It Really? | FutureScope
Ready for a parallel universe?
Back to Reality! Sora Breaks Through — 4 Key Questions We're Watching | Yunqi FutureScope
Creating Virtual Worlds, Returning to Real-World Problems
Yunqi Capital Daily Intern Recruitment
YQ Tech Growth, Fueling Youth
Vol. 01 Decoding Room-Temperature Superconductor LK-99: Real or Fake, Replication Controversies, and Is Energy Freedom Here?
"Yunqi · Silicon Valley FutureScope" In the LLM Era, Who Is the World's Most Powerful Influencer?
Yunqi Capital Investors' Silicon Valley Trip: A Firsthand Account
"Deep Winter" and "Spring Light": Where Is the Path Forward for Enterprise Software in 2023? | Enterprise Software Notes
A Deep Dive into the China-US Software Markets
Probably the most distinctive Christmas tree on Anfu Road
Blossoms of silver light, peace and joy 🎅
