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HongShan
Venture capital firm · Founded 2005 · Active in 2026
HongShan is a venture capital firm based in China, founded in 2005. The page below shows 157 Power Law outcomes from HongShan's portfolio — 143 unicorns ($1B+ valuation) and 3 additional thoroughbreds (companies that crossed $100M+ in revenue without yet reaching $1B+ valuation).
Outcomes are concentrated in Transportation · Fintech · AI; top portfolio geographies are China · USA · Hong Kong. HongShan ranks #45 in Global in the 2026 Dealroom Power Law Investor Ranking by cross-stage outcomes.
Sequoia’s biggest exits.
Sequoia portfolio companies worth $1B+ that have IPO’d or been acquired. Each shows its valuation at exit and, in grey, its current value if still public.
The 157 HongShan Power Law outcomes ($100M+ revenue or $1B+ valuation).
Snapshot of where the outcomes are concentrated by country, sector, and stage entered.
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China118
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USA15
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Hong Kong9
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Singapore5
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Australia2
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Germany2
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South Korea2
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Nigeria1
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Seychelles1
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UK1
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Indonesia1
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Transportation27
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Fintech18
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AI18
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eCommerce & Marketplaces17
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Other15
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Biotech & Life Sciences13
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Robotics11
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Other B2B Software10
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Edtech8
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Health Tech & Medtech6
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Food5
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Marketing3
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Series B+119
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Series A21
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Seed5
HongShan’s biggest current holdings.
An estimate of HongShan’s largest live positions — disclosed shareholding × Dealroom’s latest valuation — across 19 companies where HongShan is a named shareholder, worth about $67.2B in estimated equity value.
Showing the 12 largest of 19 disclosed direct holdings.
6 companies hidden on this public profile. Estimated value = HongShan’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. HongShan also appears inside investor groups in Amber Group, CertiK, Genspark, Guazi, HeyTea, JollyChic, Klook, LaLaMove and 9 more, where a standalone stake isn’t disclosed. See the underlying cap tables on Dealroom →
HongShan’s biggest exits.
HongShan portfolio companies worth $1B+ that have IPO’d or been acquired. Each shows its valuation at exit and, in grey, its current value if still public.
Cloopen
+24 more $1B+ exits on the full Dealroom profile.
HongShan's 157 Power Law outcomes.
How does HongShan stack up?
HongShan in orange, your selection in blue and other colours. Pick from the global roster of 609 peer investors — scope by startup location or hit "Find similar shapes" to auto-pick the three closest. The funnel matrix mirrors the spider chart on the ranking page; the line chart shows each firm's share of unicorns minted in the selected startup location — peaks reveal vintage years.
Share of new unicorns per year
% of global unicorns minted that year, year by year · hover the chart to see which unicornsStage focus
Companies by selected outcome stageSector focus
Companies per investor across the 10 highest-volume sectorsBeyond Unicorns — how the portfolio compounds
% of each investor's unicorn portfolio that later crossed $10B, $25B and $50B. Pick a sort tier and entry stage.Where Sequoia's portfolio founders come from — and where they studied.
212 founders across the 157 Power Law outcomes — split by country of origin, university attended, and the company they worked at before founding. Tsinghua University and Microsoft are the deepest single pipelines.
Key people at HongShan.
Market sentiment
What the market is saying about HongShan
An AI-synthesized read of the highest-engagement posts about HongShan on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
In the news
Latest news about HongShan
Recent press, funding announcements, and portfolio moves mentioning HongShan — pulled live from Dealroom's news feed.
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