Gaorong Capital
 | |
Native name | 高榕资本 |
|---|---|
| Formerly | Banyan Capital |
| Company type | Private |
| Industry | Venture Capital |
| Founded | January 2014 |
| Founders |
|
| Headquarters | Beijing, China |
| Products | Investments |
| AUM | US$4 billion (2020) |
| Website | gaorongvc |
| Footnotes / references [1][2][3] | |
Gaorong Capital (Chinese: 高榕资本; pinyin: Gāoróng Zīběn) is a Beijing-based venture capital firm founded in 2014. The firm focuses on investments related to Technology, Media and Telecommunications (TMT).[3][4][5]
Background
[edit]In January 2014, IDG Capital employees Zhen Zhang, Xiang Gao and Bin Yue founded Banyan Capital.[3][5][6][7][8] The three of them focused on TMT investments during their time at IDG Capital.[6] 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.[2][9]
In 2018, the firm changed its name to Gaorong Capital to achieve more consistent brand recognition with Chinese entrepreneurs.[6][7][8][10]
The main investors of the firm include entrepreneurs, family offices, fund-of-funds, foundations and other institutional investors such as Tencent, Alibaba and Xiaomi.[2][4][9] It closed a new RMB-denominated fund and its 5th USD fund on 26 October 2020.[11] It raised $1.15b for the fifth US fund.[12]
Notable companies that the firm has invested in include Amazfit,[13] Nuro,[14] Pinduoduo[15] and Ucommune.[16]
Funds
[edit]| Fund[17] | Vintage Year | Committed Capital ($m) |
|---|---|---|
| Banyan Partners Fund I[2] | 2014 | USD 206 |
| Banyan Capital RMB Fund I | 2014 | RMB 320 |
| Banyan Partners Fund II | 2015 | USD 362 |
| Banyan Partners Co-Invest Fund[4] | 2015 | USD 100 |
| Banyan Capital RMB Fund II | 2015 | RMB 560 |
| Banyan Partners Fund III[5] | 2017 | USD 400 |
| Gaorong Partners Fund IV[5] | 2018 | USD 500 |
| Gaorong Partners Fund V[3][5] | 2020 | USD 1,150 |
References
[edit]- ^ "Form ADV" (PDF). SEC. Archived (PDF) from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ a b c d "Ropes & Gray Represents Banyan Capital on Closing of Venture Capital Fund". www.ropesgray.com. 29 January 2014. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ a b c d "China's Gaorong Capital raises $1.5bn for VC funds". www.fundsglobalasia.com. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ a b c Team, Investment Research (4 May 2015). "Banyan Capital Raises $100M Co-Investment Fund". China Money Network. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ a b c d e "China's Gaorong Capital Raises $1.5 Billion for New Dollar and Yuan Funds - Caixin Global". www.caixinglobal.com. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ a b c Burroughs, Tim (25 May 2018). "China VC player Banyan changes name to Gaorong". avcj. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ a b "Zhen Zhang". Forbes. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ a b "Xiang Gao". Forbes. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ a b Burroughs, Tim (29 January 2014). "IDG spin-out Banyan Capital raises $206m for China fund | AVCJ". avcj. Archived from the original on 16 March 2024. Retrieved 24 December 2022.
- ^ Wu, Yimian (25 May 2018). "Chinese VC Firm Banyan Capital Changes Name To Gaorong Capital". China Money Network. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ "China's Gaorong Capital closes USD- and RMB-denominated funds for $1.5b". www.dealstreetasia.com. 2020. Archived from the original on 8 June 2023. Retrieved 8 June 2023.
- ^ "China's Gaorong Capital raises $1.15b for fifth dollar-denominated fund". www.dealstreetasia.com. 2020. Archived from the original on 8 June 2023. Retrieved 8 June 2023.
- ^ Shelemin, Stanislav. "Xiaomi ecosystem: smart Huami best watches under the brand name Amazfit". gagadget.com. Archived from the original on 16 March 2024. Retrieved 24 December 2022.
- ^ Korosec, Kirsten (2 November 2021). "Autonomous delivery startup Nuro lands investment from Google, Tiger Global in new $600 million round". TechCrunch. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ Burroughs, Tim (27 July 2018). "Pinduoduo gains 40% on debut after $1.63b US IPO | AVCJ". avcj. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ "Gaorong Capital raises $450M | PitchBook". pitchbook.com. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
- ^ "Gaorong Capital | Palico". www.palico.com. Archived from the original on 24 December 2022. Retrieved 24 December 2022.
