HSG
VC Fund
Beijing, China
HSG is a VC fund in Beijing focused on Health Care 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.
- Total investments:
- 751
- Last investment:
- Lead investor:
- 42%
- 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 | |
|---|---|---|---|
Round size
- Series A
- $4.4M–$100M
- Series B
- $12M–$200M
- Series C
- $26M–$214M
Investment Focus
Industry
- Health Care 71 (9%)
- Biotechnology 69 (9%)
- Software 67 (9%)
- Artificial Intelligence 67 (9%)
- Medical 55 (7%)
Stage
- Series A 202 (27%)
- Series B 166 (22%)
- Series C 90 (12%)
- Seed 87 (12%)
- Series D 42 (6%)
Country
- China 438 (58%)
- United States 46 (6%)
- Hong Kong 11 (1%)
- Australia 8 (1%)
- Singapore 8 (1%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
Cen Wang
Partner
|
Partner | Total investments: 4 | Find email | |
Cherry Lu
Partner
|
Partner | Total investments: 0 | Find email | |
|
Don Valentine
Founder
|
Founder | 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 9 team members → | ||||
Investments
| Company | Description | Round | Links |
|---|---|---|---|
MarqVision
|
MarqVision helps global brands remove counterfeits from online marketplaces. | $48M / Series B / Sep 15, 2025 | |
Yunzhou Zhiwei
|
Yunzhou Zhiwei is a high-tech startup focused on serving large-scale equipment maintenance industries such as aviation, aerospace, shipbuilding, and rail transit. It leverages smart maintenance concepts and advanced digital technologies to make complex equipment maintenance more efficient and lean. The company drives industrial transformationtoward intelligent maintenance, helping enterprises enhance growth, efficiency, and operational excellence. | Seed / Aug 22, 2025 | |
Eight Sleep
|
Eight Sleep is a company that creates sleep technology and products. Its core product, the Pod, is a smart sleep system that dynamically adjusts temperature, elevation, and sound based on biometrics. The system also includes a health check feature that monitors heart rate and breathing without wearable devices. | $100M / Series D / Aug 19, 2025 | |
Midas
|
Midas is the first neobroker of Turkey, providing zero commission Turkish and American stocks. | $80M / Series B / Aug 19, 2025 | |
|
Xunlu Innovation
|
Xunlu Innovation is a cutting-edge bicycle manufacturer based in Shenzhen, China, specializing in intelligent electric cargo bikes designed to meet modern urban mobility needs. | Series A / Aug 08, 2025 | |
|
Excalipoint Therapetics
|
Excalipoint Therapeutics is a Private limited company. | Series A / Aug 04, 2025 | |
OpenMind
|
OpenMind is a software company that develops an operating system for robots and intelligent machines. | $20M / Series A / Aug 04, 2025 | |
Creao AI
|
Creao AI is a leading provider of AI-powered agent automation and virtual environments, specializing in the development of intelligent systems that streamline business operations, enhance user interactions, and simulate realistic digital experiences. | Seed / Jul 31, 2025 | |
RD Technologies
|
RD Wallet is a licenced Stored Value Facility in Hong Kong. It is the first business-focused, multiple-currency mobile wallet. RD Wallet offers deposits, local and cross-border payments and foreign exchange services for businesses. | $40M / Series A / Jul 30, 2025 | |
Tongxin Medical Equipment
|
Tongxin makes magnetically-suspended artificial blood pumps which are designed to replace the human heart. They are undergoing clinical trials in China after being fast-tracked through the approval process by the National Medical Products Administration, state-run Xinhua News Agency | $100M / Venture - Series Unknown / Jul 21, 2025 | |
| See all 751 investments → | |||
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FAQ
What does HSG invest in?
HSG invests primarily in Health Care, Biotechnology and Software startups, most often at Series A and Series B stage. Most of the 751 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 $4.4M–$100M at Series A, $12M–$200M at Series B and $26M–$214M at Series C. 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 Cen Wang (Partner), Cherry Lu (Partner) and Don Valentine (Founder), among 9 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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