# BAI capital: portfolio, investments and team

> BAI capital is a vc firm based in China. 34 investments on record, 1 in the last 12 months, latest Jan 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/bai-capital (Millionrounds; every figure on the page links to its filing or article)

China · [Investor](https://millionrounds.com/investors)

# BAI capital

Last cheque observed Jan 2026; 34 cheques on record.

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Deploying now New fund $334M, Jan 2022 VC firm

Seed Series A Series B Entertainment Fintechs Art

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Deploying now

**100%** of best year **1** **cheques in 12 months**, 34 on record

Since the last cheque **291** days **00** hrs **00** min **00** sec

Median round **$55M** Rounds led **0 of 34** Sole investor **7 rounds** Exits **1 from the portfolio** Mostly in **China, 84%**

Pitch BAI capital

## BAI capital highlights

- 01 1 cheques in the last 12 months
- 02 Mostly Series A and Series B: 75% of its rounds
- 03 Sole investor in 7 rounds, median $3.0M
- 04 1 exits from the portfolio

## What they do

> BAI Capital is committed to finding and continuously supporting market leaders, innovative pioneers, and trendsetters from early to growth stages. Translated from Chinese, from their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Entertainment Fintechs Art
- **Based in:** Beijing, China
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **34 appearances**

- **2026** 1 round
- **Jan** **[VelaFi](https://millionrounds.com/company/velafi)** Series B · LatamList **$20M** With 7 others
- **2024** 1 round
- **Dec** **[usdx.money](https://millionrounds.com/company/usdx-money)** Seed · HK · TechStartups **$45M** With 4 others
- **2019** 1 round
- **Nov** **[OPay](https://millionrounds.com/company/opay)** Series B · NG · FinSMEs **$120M** With 9 others
- **2016** 1 round
- **Nov** **[Xiaozhu](https://millionrounds.com/company/xiaozhu)** CN · DealStreetAsia **$65M** With 2 others
- **2015** 5 rounds
- **Nov** **[Meili Jinrong](https://millionrounds.com/company/meili-jinrong)** Series A · JP **$65M** With 2 others
- **Sept** **[Zhai.Me](https://millionrounds.com/company/zhai-me)** Series B · CN **$35M** With 5 others
- **Sept** **[Mioji Travel](https://millionrounds.com/company/mioji-travel)** Series B **$20M** With 4 others
- **Feb** **[Tantan](https://millionrounds.com/company/tantan)** Series A · JP **$5.0M** Sole investor
- **Jan** **[OptAim](https://millionrounds.com/company/optaim)** Series A · CN **$10M** With 1 other
- **2014** 7 rounds
- **Aug** **[Laguo](https://millionrounds.com/company/laguo)** Series B · CN **$25M** With 2 others
- **Aug** **[MemBlaze](https://millionrounds.com/company/memblaze)** Series C · CN **$20M** With 2 others
- **Jul** **[Gtxh](https://millionrounds.com/company/gtxh)** Series A · CN **$10M** Sole investor
- **Jun** **[UCloud Information Technology](https://millionrounds.com/company/ucloud-information-technology)** Series B · CN **$50M** With 1 other
- **Jun** **[Dayima](https://millionrounds.com/company/dayima)** Series C · CN **$30M** With 2 others
- **Apr** **[Laguo](https://millionrounds.com/company/laguo)** Series A · CN **$5.0M** With 1 other
- **Jan** **[YOHO](https://millionrounds.com/company/yoho)** Series C · CN **$30M** With 3 others
- **2013** 5 rounds
- **Sept** **[Dayima](https://millionrounds.com/company/dayima)** Series B · CN **$10M** With 1 other
- **Aug** **[mo9 (moKredit)](https://millionrounds.com/company/mo9-mokredit)** Series B · US · technode.com **$1.0M** With 1 other
- **Apr** **[Youxinpai](https://millionrounds.com/company/youxinpai)** Series A · CN **$30M** With 3 others
- **Apr** **[Dayima](https://millionrounds.com/company/dayima)** Series A · CN **$1.0M** Sole investor
- **Mar** **[Chunyu Yisheng](https://millionrounds.com/company/chunyu-yisheng)** Series B · CN **$1.0M** Sole investor
- **2012** 3 rounds
- **Jul** **[Transfer Course Computer System (Beijing)](https://millionrounds.com/company/transfer-course-computer-system-beijing)** Series A · CN **Undisclosed** Sole investor
- **May** **[Secoo](https://millionrounds.com/company/secoo)** Series A · CN **$30M** With 1 other
- **Jan** **[Mogujie](https://millionrounds.com/company/mogujie)** Series B · CN **$10M** With 1 other
- **2011** 6 rounds
- **Dec** **[Transfer Course Computer System (Beijing)](https://millionrounds.com/company/transfer-course-computer-system-beijing)** Seed · CN **Undisclosed** Sole investor
- **Sept** **[Douban](https://millionrounds.com/company/douban)** Series C · CN **$50M** With 3 others
- **Sept** **[Yippee Arts](https://millionrounds.com/company/yippee-arts)** Series A **Undisclosed** Sole investor
- **Jun** **[Yohobuy](https://millionrounds.com/company/yohobuy)** CN **Undisclosed** With 1 other
- **May** **[Mogujie](https://millionrounds.com/company/mogujie)** Series A · CN **$1.0M** With 1 other
- **Feb** **[Mogujie](https://millionrounds.com/company/mogujie)** Seed · CN **$1.0M** With 1 other
- **2009** 2 rounds
- **Nov** **[Phoenix New Media](https://millionrounds.com/company/phoenix-new-media)** Series A · CN · venturebeat.com **Undisclosed** With 1 other
- **Jul** **[Bitauto Holdings](https://millionrounds.com/company/bitauto-holdings)** Series D · CN **$17M** With 2 others
- **2008** 2 rounds
- **Aug** **[YOHO](https://millionrounds.com/company/yoho)** Series A · CN **Undisclosed** With 1 other
- **May** **[CDEL](https://millionrounds.com/company/cdel)** Series B · CN **Undisclosed** With 1 other

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **6 named**

EE **Elizabeth Eng** Director i Filing they signed

JS **Jason Sneah** Director i Filing they signed

JS **Jingyuan Sun** Chief Operating Officer i Form ADV

PL **Ping Li** CFO i Form ADV

YZ **Yichen Zhao** Director i Form ADV

YL **Yu Long** Director i Filing they signed

We also hold **10** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$354M** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** BAI Capital Management Limited
- **SEC number:** CRD 312869

## Exits from the portfolio

Companies it backed that were later bought or listed **1 in all**

**[Mogujie](https://millionrounds.com/company/mogujie)** Bought by [Alibaba](https://millionrounds.com/fund/alibaba) **Undisclosed** Oct 2013

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$334M**

raised in Jan 2022

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$55M** the round, not its cheque Alone, median **$3.0M**

Led 0 of 34 rounds **0%**

- **Sole investor:** 7 rounds
- **Last cheque:** Jan 2026
- **Exits:** 1 from the portfolio

Rounds by stage said on their site

- Series A said *13*
- Series B said *11*
- Series C *4*
- Seed said *3*
- Series D *1*
- Growth said *-*
- Pre-IPO said *-*

Cheques by month Led Joined

Dec 2023 Nov 2026

Often in the room with

- [BAI Capital](https://millionrounds.com/fund/bai-capital-2) 4
- [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 4
- [CDH Investments](https://millionrounds.com/fund/cdh-investments) 3
- [DCM Ventures](https://millionrounds.com/fund/dcm-ventures) 3
- [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) 3
- [Trustbridge Partners](https://millionrounds.com/fund/trustbridge-partners) 3

**Pitching BAI capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as BAI capital. A count of rooms they were both in, not a relationship either has claimed.

[**BAI Capital** Investment firm **4** rounds together](https://millionrounds.com/fund/bai-capital-2)[**Sequoia Capital** VC firm **4** rounds together](https://millionrounds.com/fund/sequoia-capital)[**CDH Investments** Private equity **3** rounds together](https://millionrounds.com/fund/cdh-investments)[**DCM Ventures** Private equity **3** rounds together](https://millionrounds.com/fund/dcm-ventures)[**Qiming Venture Partners** VC firm **3** rounds together](https://millionrounds.com/fund/qiming-venture-partners)[**Trustbridge Partners** Growth equity **3** rounds together](https://millionrounds.com/fund/trustbridge-partners)[**Dragonfly Capital Partners** VC firm **2** rounds together](https://millionrounds.com/fund/dragonfly-capital-partners)[**Gaorong Capital** VC firm **2** rounds together](https://millionrounds.com/fund/gaorong-capital)[**Legend Capital** VC firm **2** rounds together](https://millionrounds.com/fund/legend-capital)[**Morningside Group** VC firm **2** rounds together](https://millionrounds.com/fund/morningside)

## Recently backed

The latest companies BAI capital put money into.

[**VelaFi** $20M · Jan 2026](https://millionrounds.com/company/velafi)

## Quick answers about BAI capital

### What does BAI capital invest in?

BAI capital invests most often at Series A and Series B (75% of the rounds on record), in sectors such as Entertainment, Fintechs and Art.

### How active is BAI capital?

34 investments on record, 1 of them in the last 12 months. The most recent was in Jan 2026.

### What has BAI capital invested in recently?

Its most recent investments on record: VelaFi (Series B, Jan 2026), usdx.money (Seed, Dec 2024) and OPay (Series B, Nov 2019).

### How big are BAI capital's cheques?

The median round it joins is $55M.

### Does BAI capital lead rounds?

Rarely, if at all: none of its 34 investments on record names it as the lead.

### Where does BAI capital invest?

Most of the companies it backs are in China (84%) and Japan (6%).

### Is BAI capital investing now?

Yes: it is actively investing, with 1 investments in the last 12 months.

### Who does BAI capital invest alongside?

Most often BAI Capital (4 rounds together), Sequoia Capital (4 rounds together) and CDH Investments (3 rounds together).

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