HongShan
Keystone species of Chinese VC with $56B AUM backing ByteDance and Alibaba—speciated from Sequoia under geopolitical pressure, now expanding into Europe.
HongShan (formerly Sequoia Capital China) operates as the keystone species of Chinese venture capital. With $56 billion AUM and backing of ByteDance, Alibaba, JD.com, Meituan, and DJI, removing HongShan would restructure the entire ecosystem. The 2023 split from Sequoia amid US-China tensions mirrors speciation under geographic isolation—same DNA, divergent evolution as geopolitical barriers create separate populations. Neil Shen's four #1 rankings on Forbes Midas List demonstrate preferential attachment: success attracts deal flow, which enables more success. Recent European expansion (Marshall Group, Golden Goose) shows adaptive radiation into new territories.
Key Leaders at HongShan
Neil Shen
Founding Managing Partner