# HSG

> HSG is a VC fund backing Artificial Intelligence and Biotechnology. See 646 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Hong Kong, Hong Kong
- Total investments: 646
- Last investment: Jul 2026
- Lead investor: 42%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/hong-shan/
- Website: https://www.hsgcap.com/

HSG is a VC fund in Hong Kong focused on Artificial Intelligence and Biotechnology. 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 institutionalinvestors.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.

## Contacts

5 contacts available for HSG. Shizune tracks 10 team members at HSG. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/hsg-cap?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $2M–$60M |
| Series A | $10M–$100M |
| Series B | $14M–$282M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Artificial Intelligence | 20 | 3% |
| Biotechnology | 15 | 2% |
| Software | 14 | 2% |
| Manufacturing | 13 | 2% |
| Information Technology | 12 | 2% |

119 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series B | 27 | 4% |
| Series A | 25 | 4% |
| Seed | 23 | 4% |
| Series C | 10 | 2% |
| Series D | 9 | 1% |

12 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| China | 51 | 8% |
| United States | 19 | 3% |
| Australia | 4 | 1% |
| Hong Kong | 4 | 1% |
| Singapore | 4 | 1% |

11 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Reggie Zhang | Partner | 0 | https://shizune.co/investors/profile/reggie-zhang |
| Cen Wang | Partner | 4 | https://shizune.co/investors/profile/cen-wang-a863 |
| Cherry Lu | Partner | 0 | https://shizune.co/investors/profile/cherry-lu |
| Enita Pu | Partner | 0 | https://shizune.co/investors/profile/enita-pu |
| Eva Ip | CFO | 0 | https://shizune.co/investors/profile/eva-ip |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Jiangxian Technology | Jiangxian Technology is a company focused on embodied intelligence, a field that integrates artificial intelligence with physical systems such as robots and smart devices, enabling machines to perceive, learn from, and interact with the real world in a more human-like and adaptive manner across applications like automation, healthcare, and advancedmanufacturing. |  | Seed | Jul 31, 2026 |  |
| Beilian Zhuguan | Beilian Zhuguan offers ToB technology services to users in order to help them reduce IT resource expenses through technical techniques. | $14.8M | Series A | Jul 28, 2026 |  |
| Yuzhou Technology | Yuzhou Technology is focused on developing a global AI-powered video creation platform. Conversational agent technology automates the whole production process, from concept and scriptwriting to storyboarding and final cut, with a particular focus on addressing issues in narrative coherence and character consistency. | $80M | Angel | Jul 22, 2026 |  |
| Flova Tech | Flova Tech is an artificial intelligence software company that provides cinema-grade video creation tools. The company offers an all-in-one conversational video production platform that orchestrates multiple generative models for scriptwriting, character design, storyboarding, audio, and final video output. Its system uses standardized cinematicdirecting logic to structure creative workflows from text prompts into multi-scene films, music videos, and commercial content. Flova Tech enables detailed control over pacing, camera movements, and shot continuity while reducing randomness common in generative video tools. The platform includes timeline automation, character persistence, and asset mapping capabilities that help creators manage complex projects. It is designed for independent filmmakers, creators, marketers, and studios who need an integrated environment for AI-assisted production. | $80M | Angel | Jul 22, 2026 |  |
| Meshy AI | The #1 3D GenAI platform—trusted by millions worldwide. The ONLY 3D AI tool featured in A16Z's 2024 AI Tools Survey. | $400M | Series B | Jul 20, 2026 |  |
| Lobo Intelligence | Lobo Intelligence is an artificial intelligence (AI) companion robot developer and manufacturer.Lobo Intelligence's first AI companion robot solution addresses both desktop and wearable settings. | $14.7M | Seed | Jul 13, 2026 |  |
| Langzhua Intelligent | Langzhua Intelligent focuses on the research and industrialization of intelligent textile materials and wearable human-computer interaction technologies. | $14.7M | Seed | Jul 07, 2026 |  |
| X Square | X Square is a company focused on developing universal embodied large models for robots, aiming to create a universal brain-cerebellum system that offers comprehensive capabilities from perception to action. |  | Series C | Jun 29, 2026 |  |
| Westlake Therapeutics | Q1 2022 c-suite not found. | $14.8M |  | Jun 18, 2026 |  |
| LibLib AI | LibLib AI is an AI image generation platform that provides cutting-edge content creation through multi-scenario and multi-dimensional applications and interactions. It is a subsidiary of Beijing Singularity Star Technology Co., Ltd. | $300M | Series B | Jun 18, 2026 |  |

10 of 646 investments shown.

## Co-investors
- [HSG](https://shizune.co/investors/profile/sequoia-capital-china) — VC Fund, 420 deals together
- [IDG Capital](https://shizune.co/investors/profile/idg-capital-partners) — VC Fund, 42 deals together
- [Tencent](https://shizune.co/investors/profile/tencent) — VC Fund, 32 deals together
- [ZhenFund](https://shizune.co/investors/profile/zhenfund) — VC Fund, 29 deals together
- [5Y Capital](https://shizune.co/investors/profile/morningsidevc) — VC Fund, 27 deals together
- [Gaorong Capital](https://shizune.co/investors/profile/banyan-capital) — VC Fund, 25 deals together

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## FAQ

### What does HSG invest in?

HSG invests primarily in Artificial Intelligence, Biotechnology and Software startups, most often at Series B and Series A stage. Most of the 646 investments tracked by Shizune back companies in China. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is HSG's check size?

HSG typically joins rounds of $2M–$60M at Seed, $10M–$100M at Series A and $14M–$282M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds HSG participates 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 Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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