Jenny Xiao & Jay Zhao & and Liang Wu — Leonis Capital - The Leonis AI 100 - November 2025

Free

Benchmarking the Most Important AI Startups of 2025

FreeFree tier

Type

Open Source

Founded

2021

Company

Leonis Capital

Visit Website GitHub (38 stars)

About Jenny Xiao & Jay Zhao & and Liang Wu — Leonis Capital - The Leonis AI 100 - November 2025

The Leonis AI 100 is a research report published by Leonis Capital that benchmarks the most important AI-native startups of 2025. Based on analysis of over 10,000 companies from 2022 to 2025, it identifies the top 100 fastest-growing AI startups and provides insights on founder backgrounds (PhDs, Olympiad medalists, top AI lab alumni), team structures (small, high revenue per employee), business performance (multiple startups crossing $10M ARR in under 18 months via product-led growth), and market sequence (horizontal tools first, then vertical applications in healthcare, legal, and finance). The report is authored by Jenny Xiao, Jay Zhao, and Liang Wu and is intended for founders and investors seeking to understand the AI startup landscape and patterns of success.

Key Features

Analysis of over 10,000 AI-native companies from 2022 to 2025

Identifies top 100 fastest-growing AI startups

Insights on founder backgrounds: PhDs, Olympiad medalists, top AI lab alumni

Data on revenue velocity and product-led growth adoption

Market sequence analysis: horizontal tools to vertical applications

Guidance for founders and investors on building and evaluating AI companies

Pros & Cons

Pros

Data-backed analysis from a large dataset (10,000+ companies)
Provides specific benchmarks (e.g., ARR milestones, revenue per employee)
Covers both horizontal and vertical AI markets
Authored by experienced venture investors at Leonis Capital

Cons

Limited to startups founded or tracked up to 2025; may become outdated
Focuses on AI-native companies, not applicable to non-AI startups
Report is a PDF download; no interactive or real-time data

Best For

For founders exploring AI startup playbooks and market entry timingFor investors seeking pattern recognition and evaluation benchmarksFor researchers studying AI-native business models and performance metricsFor entrepreneurs looking to understand revenue per employee benchmarks and pivot strategies

FAQ

What is the Leonis AI 100?

The Leonis AI 100 is a report by Leonis Capital that identifies and analyzes the top 100 fastest-growing AI-native startups of 2025 based on a dataset of over 10,000 companies.

Who authored the report?

The report is authored by Jenny Xiao, Jay Zhao, and Liang Wu of Leonis Capital.

What key insights does the report provide?

Key insights include: founders are deeply technical (PhDs, Olympiad medalists, AI lab alumni), teams are small but highly productive (5–10x revenue per employee vs. SaaS), multiple companies can scale side by side in the same market, and the market sequence unfolds from horizontal tools to vertical applications.

How can I use this report?

Founders can use it as a roadmap for building AI-native companies, including when to pivot and how to approach product-led growth. Investors can use it for pattern recognition and updated performance benchmarks.

Is the report free?

Yes, the report is available for free download as a PDF from the Leonis Capital website.