HongShan
Venture capitalHong Kong · Pre-Seed–Late Stage · 4 people tracked
Also known as HONGSHAN CAPITAL ADVISORS LIMITED · HSG ADVISORS (SG) PTE. LTD
Investment thesis
HSG (formerly Sequoia China) is a leading global venture capital and private equity firm founded in 2005, investing across technology, healthcare, and consumer sectors. It operates a fully integrated platform spanning seed, venture, growth, buyout, and infrastructure investing as well as public equities. Managing over USD 61 billion for institutional investors, HSG has backed more than 1,700 companies, with over 180 going public and more than 140 reaching unicorn status. The firm emphasizes long-term partnership, offering entrepreneurs relationships, industry insight, and experience accumulated over two decades of investing.
Source: firm website, verified Aug 3, 2026.
Team · 4 people
from curated & public directories
What they invest in
from 4 of 10 portfolio companiesAI & Machine Learning ×2Cloud Computing ×2Enterprise Software ×2SaaS ×2B2B Marketplaces ×1Biotech ×1Construction Tech ×1E-commerce ×1
HQs:China×1Japan×1Singapore×1United States×1
Investments · 10 tracked
founders shown can be your intro path
Alibaba Group is a large multinational conglomerate operating in e-commerce, cloud computing, digital payments, and logistics sectors globally.
AI & Machine LearningB2B MarketplacesCloud ComputingE-commerceEnterprise SoftwareHangzhou, CN
Jack Ma(Founder)Joseph Tsai(Founder)
Global group of recognized and respected sports and outdoor brands.
Clinical-stage biopharmaceutical company focused on identifying, developing and commercializing differentiated medicines for cancer patients.
BiotechMedical DevicesNewtown Square, US
Brent Rice(Chief Commercial Officer)Jason Zhang(Director)Cong Xu(Director)Zhengbin (Bing) Yao(Executive Officer, Director)Stuart Lutzker(Director)
Global clinical-stage biopharmaceutical company with centers of excellence in Rockville, Maryland and Shanghai, China.
Global leading player in intelligent robotics (Beijing & Munich)
Luxury apparel house for men and women.
Provider of R&D and one-stop production services to leading pharmaceutical companies worldwide.
Fund performance · per public LP disclosures · 11
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| HONGSHAN CAPITAL EXPANSION FUND I LPLPs: California Public Employees' Retirement System, Carnegie Corporation of New York, University of Texas Investment Management Company | 2024 | — | — | 0.95x | 0.00x |
| HONGSHAN CAPITAL GROWTH FUND VII LPLPs: California Public Employees' Retirement System, John D. and Catherine T. MacArthur Foundation, University of Texas Investment Management Company | 2023 | — | — | 0.81x | 0.00x |
| HONGSHAN CAPITAL SEED FUND III LPLPs: California Public Employees' Retirement System, John D. and Catherine T. MacArthur Foundation, University of Texas Investment Management Company | 2022 | — | -11.1% | 0.85x | 0.00x |
| HONGSHAN CAPITAL VENTURE FUND IX LPLPs: California Public Employees' Retirement System, John D. and Catherine T. MacArthur Foundation, University of Texas Investment Management Company | 2022 | — | -11.2% | 0.87x | 0.00x |
| HongShan China Growth VILPs: The Regents of the University of California | 2020 | — | 1.2% | 1.04x | 0.01x |
| HongShan China Seed IILPs: The Regents of the University of California | 2020 | — | -0.2% | 0.99x | 0.00x |
| HongShan China Venture VIIILPs: The Regents of the University of California | 2020 | — | -3.2% | 0.89x | 0.00x |
| HongShan GGF III China AnnexLPs: The Regents of the University of California | 2020 | — | 3.0% | 1.09x | 0.02x |
| HongShan China Growth Fund V, L.P.LPs: The Regents of the University of California | 2018 | — | 12.2% | 1.95x | 0.28x |
| HongShan China Seed Fund I, L.P.LPs: The Regents of the University of California | 2018 | — | 4.0% | 1.24x | 0.00x |
| HongShan China Venture Fund VIILPs: The Regents of the University of California | 2018 | — | 3.0% | 1.18x | 0.29x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What stage does HongShan invest at?
- HongShan invests at the Pre-Seed, Seed, Series A, Series B, Series C, Growth, Late Stage stages.
- What is HongShan's typical check size?
- HongShan typically writes checks of $100K – $50M.
- What sectors does HongShan focus on?
- HongShan focuses on AI & Machine Learning, Consumer, Deep Tech, Healthtech, Sector Agnostic.
- Where is HongShan located?
- HongShan is headquartered in Hong Kong, HK.
- Does HongShan lead rounds?
- Yes, HongShan leads investment rounds.
Media · Podcasts & interviews
featuring the teamHongShan's Founding & Managing Partner Neil Shen shares insights
FII Institute · Neil Shen
Straight Talk: Investment Guru Neil Shen on Going Global
CGTN · Neil Shen
Images
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