Svmuu News: Ye Su, founding partner of ArkStream Capital, posted on X, stating: “Li Bojie approached us during his fundraising round. At the time, we thought the project had a solid background and expressed our interest. Later, during the due diligence (DD) phase, we discovered that Li Bojie had intentionally blurred the distinction between funds that were interested and those that had already invested. Furthermore, the contract he sent over was extremely unprofessional. The team hadn’t even figured out how to structure the vesting schedule—one moment they’d reply, ‘We’ll decide when the time comes,’ and the next, ‘We can set something for now.’ So we decided to pass. ”
Ye Su also mentioned: “After eight years in venture capital, my deepest realization is that a founder’s character has absolutely nothing to do with their talent. Founders are often very humble when they’re struggling or raising funds, but it’s only when they’ve achieved success that their true character is revealed. Li Bojie is a prime example of this—the fact that he even dared to respond shows he’s completely unapologetic about scamming people out of their money.”