Jenny Xiao is a partner at Leonis Capital, a research-focused AI fund based in Silicon Valley. She invests in seed and pre-seed companies in AI-powered verticals, ML developer tools, and AI-driven enterprise SaaS. She is also an AI industry researcher and a leading expert in the LLM ecosystem. Previously, she conducted Ph.D. research at Columbia University where her dissertation explored the LLM landscape in the U.S. and China. Her research has been featured in the WSJ, the Economist, and Foreign Affairs.