Gaorong Ventures

Gaorong Ventures (高榕创投), also known as Gaorong Capital, is a Beijing-based venture capital firm founded in January 2014 by three former IDG Capital partners: Zhang Zhen, Gao Xiang, and Yue Bin. Originally launched as Banyan Capital, it rebranded to Gaorong Capital in 2018 and is now also referred to as Gaorong Ventures. The firm focuses on early- and growth-stage investments in Technology, Media, and Telecommunications (TMT), including AI, frontier technologies, new consumption, and healthcare. It operates offices in Beijing, Shanghai, Shenzhen, Hong Kong, and Singapore. Its LP base spans sovereign wealth funds, university endowments, pension funds, family offices, and fund-of-funds, as well as founders and senior executives from major Chinese internet companies including Tencent, Alibaba, Baidu, Xiaomi, and Meituan. As of 2020, AUM was reported at approximately US$4 billion, with more recent estimates citing up to US$7 billion. Notable portfolio companies include Xiaomi, Meituan, and Pinduoduo.