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We are entrepreneurs who happen to be venture capitalists

Our Mission

We search for visionary entrepreneurs, build partnership with them, and maximize their success with our capital, experience, network and global vision. In order to move fast and be responsive, we keep our organization lean and focus only on big ideas. Currently we are managing about $1.2 billion USD assets, and typically invest between 1 and 30 million USD (or RMB equivalent) per company.

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Investment Thesis

1

Networks, platforms or channels that enjoy network effect or economy of scale

Companies like Microsoft, Taobao, Kuaishou and Meicai.cn benefit from network effects and economy of scale. As they grow in scale, their user experience gets better and(or) cost gets lower.

2

Applications that produce data that can be used to enhance their user-experience and performance

Google is an example - a vast number of users input keywords and click on the links on the site every day, feeding Google the data to train its search engine and continually improve its user experience. By doing this, Google builds a barrier of entry that gets higher and higher over time.

3

Self-reinforcing brands

Brands like MIT and Stanford University attract talented students and researchers from all over the world, and these talents reinforce the university's brand.

We believe that such companies are best positioned to create long-term value in structural changes, and we strive to find and work with entrepreneurs with great vision and extraordinary leadership to drive the changes.

XVC Team

Boyu HuPartner

An entrepreneur and product geek, Boyu co-founded China’s largest lending software company, Amarsoft (SHE:300380), where he led the development of core product lines and helped the company achieve dominance in a highly competitive market before it eventually went public.

After being an entrepreneur and engineer for 10 years, he became a venture capitalist. Before XVC, he worked for DCM and Blue Lake Capital, where he singled out multiple "big ideas" at early-stage - Meicai, Youxinpai (NASDAQ:UXIN), Kuaishou, 51talk (NYSE: COE), and Wandoujia (acquired by Alibaba). These companies have raised an average of 400 million USD in follow-on rounds and valued at $4 billion on average.

Boyu is not only a geek but also an “indoorsman”. He got his MBA from Kellogg School on the shore of beautiful Lake Michigan, but he spent most spare time either doing research in his room or auditing classes he wasn't in. As a venture capitalist, he still spends lots of time indoors – reading books on mobile devices, shopping online, or reading for his little son and daughter. He might have grown mushrooms on his forehead were it not for an indoor sport he has been enjoying for almost twenty years – badminton.

Leo LuPartner

In Leo’s perspective, technology could make our world better. He will either do something to change the world himself, or he will enable some others to do so.

Before joining XVC, Leo did in-depth study of multiple industries while he was working at Bluelake Capital with Boyu, and invested and managed several great startups. Before that, he worked at Bain & Company Shanghai and Sydney Office. His work included due diligence for Top 10 private fund worldwide and marketing, operations and sales strategy consulting for Top 500 companies.

Since age 11, internet has played an important role in Leo’s life. He has received many website development awards whileilin high school. During his study in the software engineering department at Fudan University, he led scientific and technological development in Fudan Guanghua Company, making 1 million revenue out of several website development projects. Taking off the suit, Leo is an outdoor enthusiast, he climbed most of the snow mountains in Tibet and dived around world. During the time in Kellogg Business School, he finished his first marathon. For now, he has two more challenges, meet the Boston Marathon standard ( 3 hours 5 minutes in 2015), and finish 100 marathons before age 80.

Rickey YaoPartner

Rickey dreams to live in the future today. Nothing thrills him more than to bring into reality the wild imaginations that change the world for the better.

Before joining XVC, Rickey worked at GGV Capital and The Carlyle Group. In 2014, he transitioned into venture capital from private equity because he was inspired by innovative yet grounded entrepreneurs, and wanted to build long-lasting partnerships with them. At GGV, his emphasis was new population, new interaction and new consumption. He engaged in investment projects such as Zuiyou, Hellobike, Tangdou, Musical.ly, Zuoyebang, Chushou.tv, Kuaidian, Citybox and Philm.

During his college days at Fudan University, Rickey served as president of the Fudan Photography Association. He was also an early member of the Fudan Security Investment Association and founded the Fudan Consulting Club. These experiences taught Rickey much about execution: he believes that investment is not just about strategic judgement, but about providing hands-on support that will help portfolio companies grow and thrive.

In his free time, Rickey enjoys reading (though he always buys more books than he can read), practices modern archery (though he often damages the arrows on the target with new shots), and hangs out in shopping malls (under the pretense of understanding new consumer trend). But most commonly, you will find him scrolling through Bilibili and Zuiyou before he goes to sleep.

Neo YangOperating Partner

Neo is a “non-typical accountant”. He believes in rationality, logic and numbers, while he considers himself to be a Stoic and a pessimistic optimist.

Neo was an accounting graduate from Renmin University of China. After graduation he worked in Ernst & Young as an auditor. This very experience with product managers and IT engineers made him to choose to work with dedicated, interesting people to deal with challenges. He also worked in Geek Founders, an angel fund, for 2 years, in charge of fund operation.

While he is responsible for risk control, his passion lies in motorbike which is deemed extreme dangerous in China. He always pleads for motorcycle riders. He asserts he only takes calculated risk and measures have been take to hedge the risk. But most of the time, he is a typical “indoorsman”. He loves Bilibili where he used to preach that “Attack on Titan” is the best ever or watch “Rick and Morty” one more time.

Testimonials

  • “XVC is our initial-round investor. At a time when most people were having doubts about programming for kids and AI-based teaching, XVC made a strong commitment to us. Since the investment, XVC has given us a lot of help in terms of industry analysis and business insight and has provided us with solid support.”  Pengxuan Zeng
  • “XVC has a profound understanding of the industry landscape and the nature of business. The team is proactive, pragmatic, and meticulous. In addition, XVC has a mature and systematic understanding of business operations and management, which has been of great help to me. I would recommend XVC to all entrepreneurs who are determined to create something extraordinary.”  Larry
  • “The XVC team has helped Shi Yi grow with its sharp industry insight, rich management experience, and unique strategic vision. Even when we were faced with some unexpected difficulties, the XVC team managed to pull some strings and helped us solve the problem. I think we were quite lucky to meet an investor like XVC who is “always helping and never causing any trouble.” We look forward to creating more value with XVC in the future.”  Hao Pan
  • “Among all the investment teams I have met, XVC is the fastest in iterating its underlying business logic. Every two months, I would exchange ideas with the team about the most advanced business models out there. This allowed me to iterate my knowledge and cognition without losing focus on the current business. I’m grateful to XVC for always thinking and making decisions from the perspective of entrepreneurs. When moody was faced with cash flow problems, XVC made it possible for us to receive a loan the very next day. This gave us essential leeway, and I will never forget this. ”  Ran Ci
  • “On the one hand, XVC is a very young and vigorous team, and on the other hand, the XVC team is rigorous and attentive to details. They are fully informed and confident about the fields that they already know about, and they have a strong curiosity to explore fields that are new to them. It is these characteristics that allow XVC to give entrepreneurs the kind of support they really need. Throughout our cooperation, I have treated the XVC team as our partners. I believe that XVC will work with its portfolio companies to become an agent of change in the industry and the driving force of social progress while delivering high returns to all its partners.”  Yingqi Wang
  • ”Every time I talk with the XVC team, it is a pleasant and brain-mangling experience! Apart from exchanging novel ideas with us, the XVC team has never failed to dig deeper and find the hard facts and inner laws behind the surface. This kind of input is extremely valuable in an age when entrepreneurship is defined by a cognitive revolution. Being able to improve your cognitive level—that’s more valuable than any other help, although XVC has never let us down whenever we were in need.“  Chuanzong Zhang
  • ”Entrepreneurs need partners who are rational and pragmatic, who are able to spark inspiration, and who dare to challenge. XVC has all of these qualities. As an early investor, XVC has been our faithful partner as we discussed strategies, discussed organization development, convinced key team members to get on board, and faced the ups and downs of the capital market together. They have the same passion, tenacity, and perseverance as we have. Behind XVC’s wise choices is their wonderful ability to “fly close to the ground.” Thank you, XVC, for accompanying us along this journey!“  Zhe Ren
  • ”XVC is an extremely professional investment team with the logic and perspective of entrepreneurs as well as the acumen and sharpness of investors, making them the perfect sounding board. The overall style of XVC is quite distinctive: agile, pragmatic, and able to stand in the shoes of the other party. They see themselves as partners of the entrepreneurs, not just investors.“  Bin Wang
  • ”XVC is a VC team with a strong entrepreneurial spirit. The first time we met, XVC convinced me that they were the kind of “partner/shareholder” I was looking for. So far, the XVC team has indeed been like a partner. XVC was the first to offer us help in our most difficult times, and XVC has also given us timely and practical advice and support on strategy, tactics, talent, and marketing when we were developing at high speed.“  Junjie Zhang
  • ”The XVC team has given Guangliang a unique perspective. It’s fair to say that XVC is a very distinctive kind of investor. Instead of “investors” or “shareholders,” I think of them as “partners” since they have always helped me and Guangliang analyze pros and cons and make calm and objective predictions. Fortunately, our predictions have been correct most of the time.“  Xiaopu Zhao
  • ”I’m very glad to have worked with XVC. Our partners at XVC are determined and insightful. They are strategic thinkers who empathize with entrepreneurs, making them the ideal partners in any entrepreneurship journey.“  Ming Yan

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Address: 2nd Floor, Building 77, 4th Yard Gongti North Road, Chaoyang District, Beijing
Postcode: 100600

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