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According to the Financial Times , HongShan , the Chinese investing firmspun offfrom Sequoia Capital in 2023 , is sharply expanding intoEurope and North Asiaowing both to “ shrivel options ” in China and to limited partners that have get queer with how tardily HongShan is deploying the $ 9 billion in working capital commitments it secured two geezerhood ago . ( As the FT note , LPs typically have to pay management fees on Washington even if it has not been visit into use . )
establish in Hong Kong , the nearly 20 - twelvemonth - honest-to-goodness firm has take a big bite of existing Chinese portfolio companies like TikTok ’s parent company ByteDance and an Instagram clone call Xiaohongshu . It ’s also investing in China - based robotics and AI inauguration .
Still , a range of new bets in fresh regions , along with describe plans to spread out an office in Tokyo , suggest HongShan is look farther abroad for tax return . Indeed , having lately open an office in London , it may progressively bump into its former partner , Sequoia , which also now has a London office , abide by the FT .
