The young entrepreneur gains a hefty $60 million fund
Fintech market has a history of young entrepreneurs breaking ground. A recent addition in this list is Yubo Ruan. He is the Beijing based 21-year-old founder and CEO of 8 Decimal Capital, a venture capitalist firm. Ruan created a benchmark in the Fintech sector by propelling his company towards $60 million Assets Under Management(AUM) within a year.
Ruan’s knack for programming, business and resourcefulness come from an early age. He developed his first pet-project a gesture-controlled robot to assist his grandfather ailing from Parkinson’s. In 2006, he launched Alisimba: a smart robot-based piggybank to make students financially erudite.
Later, Yubo set out on a path to gain investors. Eventually, in 2014, he collaborated with Mr Yin a software and hardware expert and started a company Alisimba Technology Co. Ltd. He gained funds from the Technology Commission, Shenzhen Municipal Government Innovation and multiple angel investors. The company finished its final product development during this crucial year.
Yubo’s move to the US directed him towards Venture Capital Investment. As a young investor, he studied the industrial opportunities thoroughly, and his search ended with blockchain and machine learning. In 2017, Ruan officially launched 8 Decimal Capital based on token and equity investments in blockchain space and managed the aforementioned fund. The company was ranked second amongst 51 active cryptocurrency funds.
To young entrepreneurs, Yubo says that “real change always happens when risks are taken.”
