Yipin Ng

Yipin Ng is a co-founder and Managing Partner of Yunqi Partners, a Shanghai-based venture capital firm he helped establish in 2014 with fellow managing partner Michael Mao. He has more than two decades of investing experience and is one of the more recognized enterprise-tech investors working across the US–China corridor. He was named to the Forbes China Midas List (Forbes Midas 100) in consecutive years — 2017, 2018 and 2019.

Before founding Yunqi, Yipin spent roughly ten years (2004–2014) at GGV Capital as a partner. He worked out of GGV's Silicon Valley office from 2004 to 2008, where he helped build the firm's smart-hardware / smart-device investment practice in the US, before relocating to GGV's China office in 2008. He began his investing career around 2000 at GIC, Singapore's sovereign wealth fund. Earlier in his career he worked as an engineer at Sun Microsystems and served in the military before moving into technology and finance.

Yipin's academic background spans Asia and the US: a bachelor's degree from the University of San Francisco, an MBA from Nanyang Business School (Nanyang Technological University, Singapore), and a master's degree from Stanford University. He splits his time between China and the United States, and has focused specifically on enterprise technology since Yunqi's founding in 2014, positioning the firm as an early mover in Chinese enterprise/B2B software at a time when consumer internet still dominated Chinese VC.

Under his leadership, Yunqi has grown to manage a family of RMB and USD funds. The firm closed its oversubscribed Fund III at over US$300 million and has subsequently raised additional vehicles, backing roughly 80 startups with a track record that includes multiple unicorns, IPOs and acquisitions.

• Enterprise-tech specialist, by design. Yipin frames China's industrial digitization as a durable macro theme: *"After 40 years of manufacturing and consumer-led growth, the digitization of industries in China is a big macro trend and will last for another 10–15 years."*
• Invests across a three-layer enterprise stack: upstream (semiconductors, IaaS, 5G, hardware), midstream (operating systems, databases, software infrastructure), and downstream (application software and vertical/industry solutions).
• Stage & entry point: early stage — seed and Series A — with the ability to follow on. Yunqi is an early-stage fund and typically comes in as an early institutional lead.
• What makes him say yes: deep technical differentiation and category-leading potential in infrastructure/SaaS and DeepTech; he stresses that *"details are crucial to success"* and favors specialized, sector-expert investing because enterprise verticals differ so much from one another.
• Views downturns as entry opportunities: in a Forbes China interview he argued that an economic downturn brews opportunities for disciplined early-stage investors.
• Open-source and infrastructure conviction: repeatedly cited open-source and infra SaaS (e.g., databases) as core areas where China can produce globally competitive companies.