Organization · Venture Capital
HSG
HSG (HongShan Capital Group) is a global venture capital and private equity firm based in Hong Kong, focusing on technology, healthcare, and consumer sectors. The firm manages approximately $56 billion in assets and has invested in over 1,600 companies.
Overview
What HSG does
What HSG is
HSG (HongShan Capital Group) is a global venture capital and private equity firm based in Hong Kong, focusing on technology, healthcare, and consumer sectors. The firm manages approximately $56 billion in assets and has invested in over 1,600 companies.
How it participates in the startup ecosystem
The current public profile supports funder capabilities. Each capability below is shown separately so organization identity and role-specific information do not get conflated.
Operational profile
Organization status and context
Organization status describes the entity itself. Funding and program availability appear within the relevant capability profile.
- Operational status
- Active
- Organization type
- Venture Capital
- Founded
- Founded in 2005
- Approximate age
- About 21 years
- Structured capabilities
- Funder
- Last reviewed
- March 27, 2026
Official channels
Find HSG elsewhere
Open the official website or a supported primary organization account.
Capability profile
HSG as a funder
Investment thesis
HSG, formerly Sequoia Capital China, is a multi-strategy investment platform focusing on transformative technologies and high-growth potential across various sectors globally, with a recent pivot towards European buyouts.
Focus narrative
HSG invests across all stages of a company's growth, from seed to growth equity and buyouts. The firm seeks to identify and support companies with high-growth potential and innovative business models, adapting its strategy to include opportunities outside of China, particularly in Europe and Southeast Asia.
Value beyond capital
HSG provides strategic support to its portfolio companies through its extensive network, industry expertise, and resources, helping them navigate growth challenges and capitalize on market opportunities.
Terms and economics
- Typical check
- $1,000,000–$2,500,000,000
- Sweet spot
- $1,000,000,000
Focus and fit
- Stages
- Friends and Family · Angel · Accelerator · Pre-seed · Seed · Seed+ · Series A · Series A+ · Series B · Series B+ · Series C · Series C+ · Series D · Series E · Series F · Growth Equity · Pre-IPO · Ipo · Secondary · Bridge · Recap
- Sectors
- HealthcareConsumer
- Regions
- Asia · Europe · Global · North America
Availability
- Currently deploying
- Yes
Portfolio and track record
- Recorded portfolio count
- 1,600
- Recorded notable exits
- Alibaba, JD.com, Pinduoduo, Meituan, and NIO
Portfolio context
HSG has backed over 1,600 companies, including notable names such as Alibaba, JD.com, Pinduoduo, Meituan, NIO, Pop Mart, and Airwallex. These companies span various sectors, showcasing HSG's commitment to transformative technologies and innovative business models.
Common questions
What to know about HSG
Upseed classifies HSG under the Venture Capital organization type. Its current public profile includes funder capabilities.
Source and update disclosure
Know what this page is based on
Source basis
Public organization and program material, official websites, and structured Upseed records.
Last reviewed
March 27, 2026
Known limits
Capability profiles appear only when a structured public profile also contains decision-useful role evidence. Terms and availability can change.
Upseed is an independent guide. It is not affiliated with or endorsed by the organization described on this page.