HSG
VC Fund
Hong Kong, Hong Kong
HSG is a VC fund in Hong Kong focused on Artificial Intelligence and Software. HSG, formerly known as Sequoia Capital China, is a leading venture capital and private equity firm investing globally in the technology, healthcare, and consumer sectors. With offices in Hong Kong, Shanghai, Beijing, Shenzhen, London, Tokyo, and Singapore. HSG manages over 55 billion USD in assets across various funds for top institutional investors. Founded in 2005, HSG has nurtured entrepreneurship and innovation, backing more than 1,500 companies with transformative technologies, disruptive business models, and high-growth potential. To date, more than 160 HSG portfolio companies have listed on public stock exchanges, while over 140 private portfolio companies have reached unicorn status. Throughout the past two decades, HSG has evolved into a fully integrated investment platform spanning seed, venture, growth, buyout, and infrastructure investing, as well as public equities investment. HSG is committed to helping founders and companies build legendary companies that endure while consistently generating superior returns for our limited partners. By partnering with HSG, companies benefit from HSG’s extensive resources, including a robust entrepreneurial community and industry expertise.
- Total investments:
- 1092
- Last investment:
- Lead investor:
- 45%
- Fund size:
- $2.5B
- Last fund:
Last updated:
For AI agents: llms.txt
Industries HSG invests in
Stages HSG invests in
Countries HSG invests in
Round sizes
Contacts
| Name | Phone | Socials | |
|---|---|---|---|
| See all 10 contacts → | |||
Round size
- Seed
- $2M–$50M
- Series A
- $3.1M–$100M
- Series B
- $11M–$200M
Investment Focus
Industry
- Artificial Intelligence 105 (10%)
- Software 96 (9%)
- Health Care 95 (9%)
- Biotechnology 79 (7%)
- Medical 72 (7%)
Stage
- Series A 288 (26%)
- Series B 217 (20%)
- Seed 143 (13%)
- Series C 125 (11%)
- Angel 75 (7%)
Country
- China 601 (55%)
- United States 61 (6%)
- Singapore 21 (2%)
- Hong Kong 15 (1%)
- Australia 8 (1%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
Reggie Zhang
Partner
|
Partner | Total investments: 0 | Find email | |
Cen Wang
Partner
|
Partner | Total investments: 4 | Find email | |
Cherry Lu
Partner
|
Partner | Total investments: 0 | Find email | |
Enita Pu
Partner
|
Partner | Total investments: 0 | Find email | |
Eva Ip
CFO
|
CFO | Total investments: 0 | Find email | |
| See all 10 team members → | ||||
Investments
| Company | Description | Round | Links |
|---|---|---|---|
|
Xinghuo Chenguang
|
Xinghuo Chenguang is a hard-tech company focusing on semiconductor chips and optoelectronic interconnect technologies. | Angel / Oct 14, 2026 | |
| Manus is a general AI agent that bridges thoughts and actions by excelling in various tasks such as research, data analysis, education, and productivity, offering personalized solutions across different domains to help users achieve their goals efficiently. | $500M / Venture - Series Unknown / Oct 08, 2026 | ||
| Photon provides dependable, low-latency communications infrastructure and agent execution. designed to grow in response to actual consumer need. | $4.5M / Seed / Oct 01, 2026 | ||
| BCI-Sonics is an innovative medtech company developing non-invasive brain-computer interface solutions using advanced transcranial focused ultrasound (tFUS) technology. The company builds a next-generation therapeutic platform enabling precise neuromodulation to treat central nervous system disorders. BCI-Sonics develops low-intensity focusedultrasound technology that non-invasively stimulates deep brain regions with high precision. They combine ultrasound engineering and neuroscience to interface safely and effectively with the human brain without surgery. The company is creating an AI ultrasound brain-computer interface platform for therapeutic neuromodulation applications. | $29.9M / Seed / Sep 22, 2026 | ||
| Naive.ai is a startup specializing in training AI agents with open-source models. It emphasizes post-training of open-source models to develop advanced AI agents. | $120M / Venture - Series Unknown / Sep 18, 2026 | ||
| Anew Labs develops generative AI platforms and foundation models to accelerate drug discovery, including protein structure prediction, antibody design, and cellular dynamics forecasting. The company integrates its computational engines with experimental feedback to advance pipelines targeting diseases like inflammatory conditions. Its business model centers on side-by-side collaboration between machine learning researchers and biotechnology experts to create synthesizable molecular pathways and clinical candidates. | $290M / Series A / Sep 16, 2026 | ||
| tabby provides consumers across the GCC with the flexibility to pay for their online and in-store purchases in interest-free installments. tabby helps over 2,000 leading retailers grow their sales. | $233M / Series F / Sep 14, 2026 | ||
| NestWorks is a consumer-grade desktop CNC company. It is incubated by Elephant Robotics. | Angel / Sep 01, 2026 | ||
| Clipto.AI develops on-device multimodal AI software focused on video, audio, and image content. The platform provides digital asset management, AI transcription, speaker and face recognition, and description-based search to organize and locate media. Clipto.AI supports creators, podcasters, video teams, and enterprises that work with large medialibraries. Its tools assist with media organization, content repurposing, and streamlined editing workflows while keeping processing on user-controlled devices. | $15M / Venture - Series Unknown / Aug 31, 2026 | ||
|
Xuying Technology
|
Xuying Technology mainly focuses on the development of artificial intelligence application software and the research and development of electronic special materials, and is also involved in the manufacturing of wearable smart devices | Angel / Aug 21, 2026 | |
| See all 1092 investments → | |||
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FAQ
What does HSG invest in?
HSG invests primarily in Artificial Intelligence, Software and Health Care startups, most often at Series A and Series B stage. Most of the 1,092 investments tracked by Shizune back companies in China. The Investment Focus section breaks down every industry, stage and country in the portfolio.
What round sizes does HSG invest in?
HSG typically joins rounds of $2M–$50M at Seed, $3.1M–$100M at Series A and $11M–$200M at Series B. These are whole funding-round sizes, not HSG's own check, which is rarely disclosed: the 10th–90th percentile of the confirmed public funding rounds HSG took part in.
How do I contact HSG?
Public channels for HSG include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.
Who are the partners at HSG?
The team at HSG includes Reggie Zhang (Partner), Cen Wang (Partner) and Cherry Lu (Partner), among 10 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.
Is Shizune's investor data accurate?
Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Oct 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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