A significant leadership change has been announced at Yida Capital, a prominent domestic venture capital firm. On May 7th, the company confirmed that Chairman Ying Wenlu has retired, with President and Founding Partner You Jinbai succeeding him as the new Chairman. This marks a formal generational transition for the major VC player.

Mr. Ying Wenlu's career began at Nanjing Iron and Steel Group in 1984 as a junior accountant. He later held various positions, including director and chief accountant, and led the initial public offering of Nanjing Iron and Steel, marking his first deep engagement with capital markets. In 2005, he joined Jiangsu High-Tech Investment Group (JSHTIG), where he played a pivotal role. Facing initial challenges with a limited team, Mr. Ying spearheaded the recruitment of key professionals, including Mr. You Jinbai, who was the first hire at the end of 2005.

The founding of Yida Capital in 2014 was a landmark event, originating from an internal reform initiative at JSHTIG. Mr. Ying led 78 core team members to establish the new firm, embracing a market-oriented model where the management team held a 65% stake—a groundbreaking move at the time. This reform was highly successful, later recognized as one of "China's Top Ten Reform Cases of 2017."

Under Mr. Ying's 12-year leadership, Yida Capital grew from a regional team into a national industry leader. Starting with assets under management (AUM) of 4.8 billion yuan, the firm's AUM has now surged to 121.3 billion yuan. It has invested in 1,068 companies, 90% of which are small and medium-sized tech enterprises, including over 290 national-level "Little Giant" specialized firms. More than 200 portfolio companies have achieved listings domestically and internationally, with 30 on the STAR Market, accounting for approximately 5% of the total. Notably, in 2025 alone, Yida secured 11 IPOs.

Mr. Ying was known for his strategic foresight, particularly during market downturns. In 2018, he championed a full pivot to technology investment, emphasizing it was essential rather than optional. This move allowed Yida to capitalize on the establishment of the STAR Market. Even during the industry slump of 2024, he advocated for aggressive investment, leading to 83 rapid investments in sectors like AI chips and synthetic biology over the following six months.

Succeeding him, Mr. You Jinbai, born in 1973, is a founding partner who has served as President for over a decade. He has been instrumental in managing Yida's SME funds and investments in cleantech and sustainability. A notable success under his leadership was the early investment in Lianxun Instruments, which saw a 875% surge on its STAR Market debut in April, generating over 200 times unrealized gains for Yida.

As the new Chairman, Mr. You outlined three strategic priorities: First, steadfastly supporting "hard tech" companies aligned with national strategies. Second, deepening regional integration as an "industrial partner" to local economies. Third, continuing to drive market-oriented reforms. He committed to advancing Yida's mission with deeper, more detailed operations to deliver long-term value.

This transition represents a planned, internal succession. Reflecting on his tenure, Mr. Ying noted that the success of Yida was not due to any single individual but to the collective belief in pursuing challenging yet correct paths, confident that time would prove them right.