HongShan

Founded in 2005 by Neil Shen as Sequoia Capital China, the firm separated from Sequoia in 2023 and rebranded as HongShan ('redwood' in pinyin). It manages roughly $56 billion across venture, growth, buyout and infrastructure strategies, with offices spanning Beijing, Hong Kong, Shanghai, Shenzhen, Singapore, London and Tokyo. Its Sequoia-era track record includes many of China's defining internet companies, and it has been an active backer of the current generation of Chinese AI labs.