Join us for a conversation with Lei Yang, founder of Particle Future Venture Capital and one of China’s pioneering deep tech investors. In this episode, Lei reflects on his journey—from McKinsey, to leading advanced technology investments at NLVC, to launching Particle Future.

We explore the grit and resilience behind China’s HardTech ecosystem, the evolving mindset of founders, and why focus and product-market fit matter more than ever. Lei also shares stories, lessons for entrepreneurs, and his outlook on the future of deep tech, AI, and global innovation from a China perspective.

• The early challenges and strategic bets behind deep tech investing in China
• How “day one” mindset and grit separate exceptional founders from the rest
• Why Lei launched Particle Future venture fund
• Trends shaping China’s HardTech, AI, and IPO landscape today