HongShan, the Chinese investment firm spun off from Sequoia Capital in 2023, is aggressively expanding into Europe and North Asia due to shrinking options domestically.
The firm secured $9 billion in capital commitments two years ago but has frustrated limited partners with the slow pace of deploying that capital.
HongShan is taking a bigger stake in existing Chinese companies like ByteDance and Xiaohongshu, while also targeting startups in robotics and AI.
Having opened offices in London and Tokyo, HongShan is venturing abroad, potentially competing with its former partner, Sequoia, which also operates in London.
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