Gaorong Capital

Gaorong Capital is a Beijing-based venture capital firm founded in 2014. The firm focuses on investments related to Technology, Media and Telecommunications (TMT).

Background
In January 2014, IDG Capital employees Zhen Zhang, Xiang Gao and Bin Yue founded Banyan Capital. The three of them focused on TMT investments during their time at IDG Capital. The firm first fund that had an initial target of US$150 million was oversubscribed after only two-month with over 40 investors attracted and raised a total of US$206 million.

In 2018, the firm changed its name to Gaorong Capital to achieve more consistent brand recognition with Chinese entrepreneurs.

The main investors of the firm include entrepreneurs, family offices, fund-of-funds, foundations and other institutional investors such as Tencent, Alibaba and Xiaomi. It closed a new RMB-denominated fund and its 5th USD fund on 26 October 2020. It raised $1.15b for the fifth US fund.

Notable companies that the firm has invested in include Amazfit, Nuro, Pinduoduo and Ucommune.