Chris Lai, ex-venture partner at Sinovation Ventures, has moved to Shunwei Capital, a venture capital firm founded by Xiaomi’s founder Lei Jun.
Lai, who previously worked at Sinovation and Morningside Ventures, will focus on early-stage investments across mobile Internet, smart hardware and other sectors at Shunwei Capital, according to the firm’s announcement on its official WeChat account.
Since 2007, Lai has been focused on backing start-ups in the mobile Internet, automobile, education and IoT sectors. He led and participated in investing in chauffeured car service provider Yidao Yongche, smartphone and selfie app developer Meitu Inc., and K-12 online education platform VIPKID.
Lai was also once founder and CEO of automotive start-up Jiadao. He holds a B.A. degree from Tsinghua University and an MBA degree from the Chinese University of Hong Kong.
Founded by Lei Jun and Tuck Lye Koh in 2011, Shunwei Capital manages three U.S. dollar funds worth US$1.75 billion and two RMB funds worth RMB2 billion (US$313 million).
Founded by former president of Google China Kai-Fu Lee, Sinovation Ventures manages US$1.8 across both U.S. dollar and RMB funds.