MiraclePlus

The full-time partnership — Lu Qi, Luan Yunming, Cao Xuwen, and Mao Shengbo — evaluates applications and conducts in-person interviews in Beijing before making funding decisions. The firm states it gives suggestions but does not force teams to adopt them, and specifically disclaims any intent to control portfolio companies.

Founders apply directly through an online form on the firm's website. Selected teams are invited to Beijing for interviews. MiraclePlus then admits a batch and invests initial funding in exchange for a small equity stake. The firm's closed-door alumni network and its extended fellowship of 300-plus researchers across 20 countries also function as a sourcing channel.

It is an accelerator structured as an asset manager. Unlike a traditional VC fund that makes follow-on bets across stages, MiraclePlus concentrates its resources on a single seed check and a three-month program built around weekly operational mentorship, a closed-door speaker series, and a culminating Demo Day. It does not seek board seats or operational control.

MiraclePlus writes direct checks exclusively into the startups accepted into its accelerator batches. Its public materials make no mention of fund-of-funds commitments or investments in other venture capital vehicles.

MiraclePlus partner Cao Xuwen was a founder in Y Combinator twice, and his second startup was acquired by Microsoft. MiraclePlus's batch-based, Demo Day-anchored structure is patterned on the YC model, but the firm operates independently with an emphasis on the mainland China regulatory and market environment, including a full-time government-relations function.

The firm does not publicly disclose its LP base or its total assets under management. Its AUM and funding source remain opaque. The accelerator model is internally funded, deploying initial checks from its own balance sheet into each cohort.

Yes. The MiraclePlus Fellow Program is a remote, part-time initiative for young researchers, with over 300 participants from universities including Stanford, MIT, and Tsinghua, and from companies such as Google and NVIDIA. It functions as a talent community and sourcing funnel rather than a philanthropic vehicle.