PeopleofSuperintelligence

Public voice

Lan Xuezhao

Also known as Xuezhao Lan

Lan Xuezhao is a venture capitalist and the founder of Basis Set Ventures, a San Francisco firm that was one of the earliest to specialize in early-stage AI startups. Trained in statistics and psychology at the University of Michigan, she completed a Ph.D. there in 2009, founded a brain-training games startup for children and worked at McKinsey before joining Dropbox in 2013 to build its Corporate Development Strategy team. After a first seed investment in Scale in 2016, she founded Basis Set in 2017 and announced a $136 million first fund for machine intelligence startups in August 2017. The firm built its own software, such as the Pascal system for finding startups, and raised later funds of $165 million in 2021, $185 million in 2023 and $250 million in January 2026. She is the firm's founder and partner, and Business Insider named her to its 2026 Seed 40 list of the best female early-stage investors.

Now at
Basis Set Ventures and University of Michigan
Badges
Links
X and LinkedIn

Timeline

  1. 2008–2009

    Statistics and psychology at Michigan

    After ranking in the top 0.001% at a top school in China, she comes to the U.S. with full scholarships, a suitcase and $20. At the University of Michigan, she earns an M.A. in Statistics in 2008 and a Ph.D. in Psychology in 2009. Her doctoral research focuses on quantitative cognitive science and appears in journals including Science.

  2. By 2013

    Brain-training games and McKinsey

    After her 2009 Ph.D., she founds a startup that develops brain-training games for children, which is later acquired. She then works at McKinsey & Company as an engagement manager and leads teams there after the company's exit.

  3. 2013

    Corporate development at Dropbox

    She joins Dropbox in 2013, starting in its BizOps group of consultants. After CFO Sujay Jaswa asks her to help build a corporate development team, she builds and runs the Corporate Development Strategy team and oversees mergers and acquisitions strategy.

  4. 2016–2017

    Founding Basis Set Ventures

    In 2016, she makes her first seed investment, in Scale, before her firm formally has a fund. She founds the San Francisco firm Basis Set Ventures in 2017 and announces a $136 million first fund for machine intelligence startups in August 2017.

  5. 2021

    A $165 million second fund

    In April 2021, Basis Set announces a $165 million second fund, two times oversubscribed. Its internal Pascal system for finding startups has reviewed roughly 9,000 software deals, and its HyperGrowth tool links portfolio companies with Bay Area mentors. By July 2021, the firm has raised $301 million across two funds.

  6. 2023–2024

    A $185 million third fund

    Basis Set raises a $185 million third fund in 2023 and announces it in February 2024. Foundry and Melinda French Gates' Pivotal Ventures are publicly named as investors in the firm.

  7. 2026

    Fund IV and the Seed 40

    In January 2026, she announces Basis Set's $250 million Fund IV, writing that the firm has been early in AI since its founding in 2017. The new fund brings its assets under management to over $850 million. Business Insider names her to its 2026 Seed 40 list of the best female early-stage investors.

  8. As of October 2026

    Founder and partner at Basis Set

    She is founder and partner of Basis Set Ventures, one of the earliest firms to specialize in early-stage AI startups, and one of the earliest investors in dozens of startups, often taking the lead in their seed rounds. Its portfolio includes Scale AI, Path Robotics, Quince, Drata and Cusp. She also serves as a board member at the University of Michigan School of Information.

Career

  1. Since 2017Basis Set VenturesFounder, Partner
  2. NowUniversity of MichiganBoard Member
  3. Until 2013McKinsey & CompanyEngagement Manager
  4. From 2013DropboxCorporate Development Strategy team lead

Education

  1. 2009University of MichiganPh.D. in Psychology
  2. 2008University of MichiganM.A. in Statistics

From the biography.

  1. 23% of people shaping AI who left a university for a company later returned to a universityIncludes Lan Xuezhao. We estimate that 468 of the 2,011 people shaping AI who left a university for a company (23%) later returned to a university after a median of 5 years, and 163 of 829 (20%) made the reverse round trip.
  2. 11% of AI doctorate holders from 2010 to 2016 founded or led a company or lab by 10 years after graduationIncludes Lan Xuezhao. We estimate how often AI doctorate holders founded or led a company or lab by 10 years after graduation, how waiting times compare between founders and top jobs, and which universities trained the most.
  3. Universities had a net outflow of 2,068 moves in AI careersIncludes University of Michigan. Our estimates of career flows and median h-index across universities and companies in AI, including the role of joint appointments and earlier academic jobs.
  4. The Massachusetts Institute of Technology trained or employed 44 of the 187 AI major-prize winners, more than any other universityIncludes University of Michigan. The Massachusetts Institute of Technology trained or employed 44 of the 187 AI major-prize winners, more than any other university. We compare doctorate and 5+ year employment links, career timing and current workplaces for 187 major-prize and 1,111 best-paper winners.

Colleagues

People with dated positions at the same organization in the same years.

Sources and credits

Photo: We have no published photo of Lan Xuezhao yet. Send us a free-licensed photo.

  1. Dr. Lan Xuezhao | Founder & Partner basisset.com. Checked 20 October 2026.
  2. Lan Xuezhao - Wikipedia en.wikipedia.org. Checked 20 October 2026.
  3. Venture Confidential | Ep. #21, Feat. Lan Xuezhao of Basis Set Ventures | Heavybit heavybit.com. Checked 20 October 2026.
  4. Announcing Our $250M Fund IV | Basis Set basisset.com. Checked 20 October 2026.
  5. Basis Set Ventures - Wikipedia en.wikipedia.org. Checked 20 October 2026.
  6. Basis Set Ventures gets real to get to the heart of AI startups | TechCrunch techcrunch.com. Checked 20 October 2026.
  7. At Basis Set Ventures, merging venture capital and software development yields a $165 million new fund | TechCrunch techcrunch.com. Checked 20 October 2026.
  8. Lan Xuezhao of Basis Set Ventures on using data science and human behavior to guide investments, finding LP/GP fit, Founder super powers, and conviction base investments ventureunlocked.substack.com. Checked 20 October 2026.