BlueRun Ventures China, the Chinese affiliate of Silicon Valley-based venture capital house BlueRun Ventures (BRV), has given up the English name it shares with its US counterpart, in a fresh sign of the bifurcation of venture capital in the world’s two largest economies.
BRV China, which manages over 15 billion yuan (US$2 billion) in assets, has changed its English brand to Lanchi Ventures, the Beijing-based company said in a statement on Wednesday. Lanchi is the romanisation of the firm’s Chinese name.
Lanchi said in its statement that it has been operating “independently” in China since 2010, but it kept the BlueRun brand until now to reflect its “same investment philosophy” and “profound friendship” with the US firm. Absent from the statement was any mention of the tense geopolitical environment that tech investors in China are now navigating.
The rebrand also came with a new website, which lists two offices in Beijing and Shanghai.
Last month, Biden announced new measures that would restrict US venture capital and private equity investments in Chinese companies in the same three fields.
Compared with some other companies, geopolitical risks are “less of an issue” for Lanchi because it has been operating separately for years, Tan said at the time. Lanchi’s decisions are made independently, without any sharing of profits or back-office services, he said.
BRV was the fourth-largest US investor in China’s AI industry between 2015 and 2021 by number of transactions, according to a report published in February this year by Georgetown University’s Centre for Security and Emerging Technology (CSET). Out of the 24 AI investment deals it made in that period, 20 went to Chinese firms, CSET said. GGV Capital took the top spot with 43 investments into Chinese AI.
The news is published by EMEA Tribune & SCMP