# BAI Capital

> BAI Capital is a VC fund in Chaoyang backing iOS, Social and Android. See 14 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Chaoyang, China
- Total investments: 14
- Last investment: Feb 2024
- Lead investor: 36%
- Last fund: Jul 2022
- Last updated: Aug 2026
- Website: https://baifund.com/#/

BAI Capital is an investment arm of German media mogul Bertelsmann. Its notable investments include electric vehicle upstart Nio, Southeast Asia’s popular live streaming app Bigo, and China’s shared bike pioneer Mobike, which was acquired by Meituan. BAI Capital was founded in 2008 by German businessman Carl Bertelsmann.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $2M–$50M |
| Series A | $1.6M–$100M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| iOS | 2 | 14% |
| Social | 2 | 14% |
| Android | 2 | 14% |
| Hardware | 2 | 14% |
| Software | 2 | 14% |

30 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 8 | 57% |
| Seed | 4 | 29% |
| Series B | 2 | 14% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| China | 7 | 50% |
| Taiwan | 1 | 7% |
| Hong Kong | 1 | 7% |
| United States | 1 | 7% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Merlin Chain | Merlin Chain offers a native scaling solution. |  | Seed | Feb 05, 2024 |  |
| CIX Technology | This Core Technology offers next-generation intelligent computing solutions, designing and developing spec intelligent computing systems. | $50M | Seed | Jul 18, 2022 |  |
| Speedfox | Speedfox is a home cleaning smart home company. | $15.8M | Series A | Mar 11, 2022 |  |
| CYGNUSEMI | Cygnus Semi is a semiconductor chip technology company that focuses on 5G IoT applications. | $100M | Series A | Feb 25, 2022 |  |
| TRLab | TR Lab is a blank slate platform for discovering and collecting NFT art from the artists. The company offers NFT works to collectors and art lovers. TR Lab was founded in 2021 and is headquartered in Hong Kong. | $4.2M | Seed | Jan 26, 2022 |  |
| Hongsong Xuetang | Hongsong Xuetang provides professional solutions for corporate strategic decisions. | $15.7M | Series A | Jan 05, 2022 |  |
| Milly Rock Group | Milly Rock Group is a fashion brand incubation platform that helps in building personal IP, popularity, and establishing your brand. | $10M | Series A | Dec 16, 2021 |  |
| Trendy | Chaowanzu is a blind box community where users can customize toys according to their personal preferences through this platform. The products mainly include Happy Train and Wedding Flower Girl series. |  | Series B | Dec 10, 2021 |  |
| QianDao App | QianDao App develops blind box toy and garage kit trading software designed for youth. Users can order customize toys according to their personal preferences on the platform this company developed. The products mainly include Happy Train and Wedding Flower Girl series, providing a community for Garage Kit followers and collectors in China.Thecompany was founded in 2019 and is headquartered in Putuo District, Shanghai, China. | $90M | Series B | Dec 10, 2021 |  |
| WAT | WAT is a cocktail and spirits brand that provides bottled cocktails packaged in a futuristic way. |  | Series A | Oct 27, 2021 |  |

10 of 14 investments shown.

## Co-investors
- [K2VC](https://shizune.co/investors/profile/k2-vc) — VC Fund, 3 deals together
- [HSG](https://shizune.co/investors/profile/sequoia-capital-china) — VC Fund, 3 deals together
- [Gaorong Capital](https://shizune.co/investors/profile/banyan-capital) — VC Fund, 2 deals together
- [HSG](https://shizune.co/investors/profile/hsg-cap) — VC Fund, 2 deals together
- [IDG Capital](https://shizune.co/investors/profile/idg-capital-partners) — VC Fund, 2 deals together
- [Matrix Partners China](https://shizune.co/investors/profile/matrix-partners-china) — VC Fund, 2 deals together

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### Similar country
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## FAQ

### What does BAI Capital invest in?

BAI Capital invests primarily in iOS, Social and Android startups, most often at Series A and Seed stage. Most of the 14 investments tracked by Shizune back companies in China. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is BAI Capital's check size?

BAI Capital typically joins rounds of $2M–$50M at Seed and $1.6M–$100M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds BAI Capital participates in.

### When did BAI Capital last invest?

The most recent investment recorded for BAI Capital closed in Feb 2024. Shizune tracks 14 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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