1524:
1514:
1494:
1474:
1464:
1504:
1484:
29:
210:
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
424:
536:
1394:
972:
794:
1553:
703:
825:
1467:
672:
1558:
965:
916:
856:
497:
572:
461:
1548:
416:
1041:
528:
1527:
958:
1439:
763:
786:
384:
1563:
733:
695:
817:
217:
The main investors of the firm include entrepreneurs, family offices, fund-of-funds, foundations and other institutional investors such as
886:
1261:
1256:
1164:
664:
1049:
1026:
214:
In 2018, the firm changed its name to
Gaorong Capital to achieve more consistent brand recognition with Chinese entrepreneurs.
1497:
1239:
908:
1507:
1477:
848:
173:
489:
229:. 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.
1487:
1244:
605:
564:
453:
638:
1074:
1069:
1064:
1059:
1054:
1121:
1331:
1281:
1219:
1179:
1126:
198:
firm founded in 2014. The firm focuses on investments related to
Technology, Media and Telecommunications (TMT).
1517:
1434:
1429:
1414:
1409:
1364:
136:
1116:
1424:
1389:
1286:
57:
755:
1341:
1249:
818:"Autonomous delivery startup Nuro lands investment from Google, Tiger Global in new $ 600 million round"
373:
725:
1369:
1154:
1031:
1444:
1306:
1214:
1209:
1205:
1159:
1419:
1379:
1316:
1311:
1149:
878:
1384:
1111:
1106:
1101:
1016:
1224:
1093:
1004:
529:"China's Gaorong Capital Raises $ 1.5 Billion for New Dollar and Yuan Funds - Caixin Global"
1404:
1326:
1174:
1136:
1011:
985:
195:
67:
1229:
1144:
1021:
981:
1542:
1336:
1321:
1301:
1189:
950:
222:
1449:
1374:
1346:
1291:
1184:
1234:
207:
129:
417:"Ropes & Gray Represents Banyan Capital on Closing of Venture Capital Fund"
1399:
1169:
28:
597:
1296:
630:
241:
756:"China's Gaorong Capital raises $ 1.15b for fifth dollar-denominated fund"
726:"China's Gaorong Capital closes USD- and RMB-denominated funds for $ 1.5b"
787:"Xiaomi ecosystem: smart Huami best watches under the brand name Amazfit"
245:
233:
218:
191:
115:
999:
226:
181:
119:
665:"IDG spin-out Banyan Capital raises $ 206m for China fund | AVCJ"
696:"Chinese VC Firm Banyan Capital Changes Name To Gaorong Capital"
237:
954:
943:
849:"Pinduoduo gains 40% on debut after $ 1.63b US IPO | AVCJ"
232:
Notable companies that the firm has invested in include
150:
454:"China's Gaorong Capital raises $ 1.5bn for VC funds"
1355:
1274:
1198:
1135:
1092:
1083:
1040:
992:
145:
135:
125:
111:
91:
73:
63:
53:
45:
35:
490:"Banyan Capital Raises $ 100M Co-Investment Fund"
1554:Financial services companies established in 2014
565:"China VC player Banyan changes name to Gaorong"
966:
8:
1468:Private equity and venture capital investors
448:
446:
444:
442:
21:
879:"Gaorong Capital raises $ 450M | PitchBook"
1503:
1483:
1440:Taxation of private equity and hedge funds
1257:Private investment in public equity (PIPE)
1089:
973:
959:
951:
27:
20:
1559:Investment management companies of China
488:Team, Investment Research (4 May 2015).
255:
411:
409:
407:
405:
365:
1549:Chinese companies established in 2014
919:from the original on 24 December 2022
889:from the original on 24 December 2022
859:from the original on 24 December 2022
828:from the original on 24 December 2022
706:from the original on 24 December 2022
641:from the original on 24 December 2022
608:from the original on 24 December 2022
575:from the original on 24 December 2022
539:from the original on 24 December 2022
500:from the original on 24 December 2022
464:from the original on 24 December 2022
427:from the original on 24 December 2022
390:from the original on 24 December 2022
7:
816:Korosec, Kirsten (2 November 2021).
658:
656:
625:
623:
592:
590:
558:
556:
554:
523:
521:
519:
517:
515:
483:
481:
479:
797:from the original on 16 March 2024
675:from the original on 16 March 2024
663:Burroughs, Tim (29 January 2014).
14:
211:a total of US$ 206 million.
1523:
1522:
1513:
1512:
1502:
1493:
1492:
1482:
1473:
1472:
1463:
1462:
766:from the original on 8 June 2023
736:from the original on 8 June 2023
16:China-based venture capital firm
847:Burroughs, Tim (27 July 2018).
303:Banyan Partners Co-Invest Fund
161:Footnotes / references
1564:Venture capital firms of China
1240:Publicly traded private equity
563:Burroughs, Tim (25 May 2018).
186:
177:
1:
1508:List of venture capital firms
1488:List of private equity firms
1245:Business Development Company
314:Banyan Capital RMB Fund II
79:; 10 years ago
1580:
1332:High-net-worth individuals
1122:Leveraged recapitalization
909:"Gaorong Capital | Palico"
694:Wu, Yimian (25 May 2018).
281:Banyan Capital RMB Fund I
1458:
1220:Limited liability company
1180:Venture capital financing
1127:Dividend recapitalization
336:Gaorong Partners Fund IV
325:Banyan Partners Fund III
159:
141:US$ 4 billion (2020)
26:
347:Gaorong Partners Fund V
292:Banyan Partners Fund II
265:Committed Capital ($ m)
1287:Institutional investors
458:www.fundsglobalasia.com
270:Banyan Partners Fund I
1425:Liquidation preference
1390:Distribution waterfall
1342:Sovereign wealth funds
760:www.dealstreetasia.com
730:www.dealstreetasia.com
1498:Venture capital firms
1250:Venture capital trust
785:Shelemin, Stanislav.
1478:Private equity firms
1206:Private equity firms
1155:Post-money valuation
1032:Equity co-investment
533:www.caixinglobal.com
1528:Portfolio companies
1445:Undercapitalization
1297:Insurance companies
1215:Limited partnership
1160:Pre-money valuation
700:China Money Network
494:China Money Network
423:. 29 January 2014.
23:
1380:Capital commitment
1150:Business incubator
1117:Buy–sell agreement
1536:
1535:
1385:Capital structure
1270:
1269:
1112:Divisional buyout
1107:Management buyout
1102:Financial sponsor
421:www.ropesgray.com
357:
356:
206:In January 2014,
167:
166:
77:January 2014
1571:
1526:
1525:
1516:
1515:
1506:
1505:
1496:
1495:
1486:
1485:
1476:
1475:
1466:
1465:
1327:Commercial banks
1317:Investment banks
1225:Carried interest
1090:
993:Investment types
975:
968:
961:
952:
947:
946:
944:Official website
929:
928:
926:
924:
905:
899:
898:
896:
894:
875:
869:
868:
866:
864:
844:
838:
837:
835:
833:
813:
807:
806:
804:
802:
782:
776:
775:
773:
771:
752:
746:
745:
743:
741:
722:
716:
715:
713:
711:
691:
685:
684:
682:
680:
660:
651:
650:
648:
646:
627:
618:
617:
615:
613:
594:
585:
584:
582:
580:
560:
549:
548:
546:
544:
525:
510:
509:
507:
505:
485:
474:
473:
471:
469:
450:
437:
436:
434:
432:
413:
400:
399:
397:
395:
389:
378:
370:
256:
188:
179:
155:
152:
87:
85:
80:
31:
24:
1579:
1578:
1574:
1573:
1572:
1570:
1569:
1568:
1539:
1538:
1537:
1532:
1518:Angel investors
1454:
1405:High-yield debt
1358:financial terms
1357:
1351:
1266:
1194:
1175:Startup company
1131:
1085:
1079:
1036:
988:
986:venture capital
979:
942:
941:
938:
933:
932:
922:
920:
907:
906:
902:
892:
890:
877:
876:
872:
862:
860:
846:
845:
841:
831:
829:
815:
814:
810:
800:
798:
784:
783:
779:
769:
767:
754:
753:
749:
739:
737:
724:
723:
719:
709:
707:
693:
692:
688:
678:
676:
662:
661:
654:
644:
642:
629:
628:
621:
611:
609:
596:
595:
588:
578:
576:
562:
561:
552:
542:
540:
527:
526:
513:
503:
501:
487:
486:
477:
467:
465:
452:
451:
440:
430:
428:
415:
414:
403:
393:
391:
387:
376:
372:
371:
367:
362:
254:
204:
196:venture capital
170:Gaorong Capital
163:
149:
107:
83:
81:
78:
68:Venture Capital
38:
22:Gaorong Capital
17:
12:
11:
5:
1577:
1575:
1567:
1566:
1561:
1556:
1551:
1541:
1540:
1534:
1533:
1531:
1530:
1520:
1510:
1500:
1490:
1480:
1470:
1459:
1456:
1455:
1453:
1452:
1447:
1442:
1437:
1432:
1427:
1422:
1417:
1412:
1407:
1402:
1397:
1392:
1387:
1382:
1377:
1372:
1367:
1361:
1359:
1353:
1352:
1350:
1349:
1344:
1339:
1337:Family offices
1334:
1329:
1324:
1322:Merchant banks
1319:
1314:
1309:
1304:
1299:
1294:
1289:
1284:
1278:
1276:
1272:
1271:
1268:
1267:
1265:
1264:
1259:
1254:
1253:
1252:
1247:
1237:
1232:
1230:Management fee
1227:
1222:
1217:
1212:
1202:
1200:
1196:
1195:
1193:
1192:
1187:
1182:
1177:
1172:
1167:
1162:
1157:
1152:
1147:
1145:Angel investor
1141:
1139:
1133:
1132:
1130:
1129:
1124:
1119:
1114:
1109:
1104:
1098:
1096:
1087:
1081:
1080:
1078:
1077:
1072:
1067:
1062:
1057:
1052:
1046:
1044:
1038:
1037:
1035:
1034:
1029:
1024:
1019:
1014:
1009:
1008:
1007:
996:
994:
990:
989:
982:Private equity
980:
978:
977:
970:
963:
955:
949:
948:
937:
936:External links
934:
931:
930:
913:www.palico.com
900:
870:
839:
808:
777:
747:
717:
686:
652:
619:
586:
550:
511:
475:
438:
401:
364:
363:
361:
358:
355:
354:
351:
348:
344:
343:
340:
337:
333:
332:
329:
326:
322:
321:
318:
315:
311:
310:
307:
304:
300:
299:
296:
293:
289:
288:
285:
282:
278:
277:
274:
271:
267:
266:
263:
260:
253:
250:
203:
200:
165:
164:
157:
156:
147:
143:
142:
139:
133:
132:
127:
123:
122:
113:
109:
108:
106:
105:
102:
99:
95:
93:
89:
88:
75:
71:
70:
65:
61:
60:
55:
51:
50:
49:Banyan Capital
47:
43:
42:
39:
36:
33:
32:
15:
13:
10:
9:
6:
4:
3:
2:
1576:
1565:
1562:
1560:
1557:
1555:
1552:
1550:
1547:
1546:
1544:
1529:
1521:
1519:
1511:
1509:
1501:
1499:
1491:
1489:
1481:
1479:
1471:
1469:
1461:
1460:
1457:
1451:
1448:
1446:
1443:
1441:
1438:
1436:
1433:
1431:
1428:
1426:
1423:
1421:
1418:
1416:
1413:
1411:
1408:
1406:
1403:
1401:
1398:
1396:
1393:
1391:
1388:
1386:
1383:
1381:
1378:
1376:
1373:
1371:
1368:
1366:
1363:
1362:
1360:
1354:
1348:
1345:
1343:
1340:
1338:
1335:
1333:
1330:
1328:
1325:
1323:
1320:
1318:
1315:
1313:
1310:
1308:
1305:
1303:
1302:Fund of funds
1300:
1298:
1295:
1293:
1292:Pension funds
1290:
1288:
1285:
1283:
1280:
1279:
1277:
1273:
1263:
1260:
1258:
1255:
1251:
1248:
1246:
1243:
1242:
1241:
1238:
1236:
1233:
1231:
1228:
1226:
1223:
1221:
1218:
1216:
1213:
1211:
1207:
1204:
1203:
1201:
1197:
1191:
1190:Venture round
1188:
1186:
1183:
1181:
1178:
1176:
1173:
1171:
1168:
1166:
1163:
1161:
1158:
1156:
1153:
1151:
1148:
1146:
1143:
1142:
1140:
1138:
1134:
1128:
1125:
1123:
1120:
1118:
1115:
1113:
1110:
1108:
1105:
1103:
1100:
1099:
1097:
1095:
1091:
1088:
1082:
1076:
1073:
1071:
1068:
1066:
1063:
1061:
1058:
1056:
1053:
1051:
1050:Early history
1048:
1047:
1045:
1043:
1039:
1033:
1030:
1028:
1025:
1023:
1020:
1018:
1015:
1013:
1010:
1006:
1003:
1002:
1001:
998:
997:
995:
991:
987:
983:
976:
971:
969:
964:
962:
957:
956:
953:
945:
940:
939:
935:
918:
914:
910:
904:
901:
888:
884:
883:pitchbook.com
880:
874:
871:
858:
854:
850:
843:
840:
827:
823:
819:
812:
809:
796:
792:
788:
781:
778:
765:
761:
757:
751:
748:
735:
731:
727:
721:
718:
705:
701:
697:
690:
687:
674:
670:
666:
659:
657:
653:
640:
636:
632:
626:
624:
620:
607:
603:
599:
593:
591:
587:
574:
570:
566:
559:
557:
555:
551:
538:
534:
530:
524:
522:
520:
518:
516:
512:
499:
495:
491:
484:
482:
480:
476:
463:
459:
455:
449:
447:
445:
443:
439:
426:
422:
418:
412:
410:
408:
406:
402:
386:
382:
375:
369:
366:
359:
352:
349:
346:
345:
341:
338:
335:
334:
330:
327:
324:
323:
319:
316:
313:
312:
308:
305:
302:
301:
297:
294:
291:
290:
286:
283:
280:
279:
275:
272:
269:
268:
264:
262:Vintage Year
261:
258:
257:
251:
249:
247:
243:
239:
235:
230:
228:
224:
220:
215:
212:
209:
201:
199:
197:
193:
189:
187:Gāoróng Zīběn
183:
175:
171:
162:
158:
154:
148:
144:
140:
138:
134:
131:
128:
124:
121:
117:
114:
110:
103:
100:
97:
96:
94:
90:
76:
72:
69:
66:
62:
59:
56:
52:
48:
44:
40:
34:
30:
25:
19:
1450:Vintage year
1375:Capital call
1347:Crowdfunding
1282:Corporations
1185:Venture debt
921:. Retrieved
912:
903:
891:. Retrieved
882:
873:
861:. Retrieved
852:
842:
830:. Retrieved
821:
811:
799:. Retrieved
791:gagadget.com
790:
780:
768:. Retrieved
759:
750:
738:. Retrieved
729:
720:
708:. Retrieved
699:
689:
677:. Retrieved
668:
643:. Retrieved
634:
610:. Retrieved
601:
598:"Zhen Zhang"
577:. Retrieved
568:
541:. Retrieved
532:
502:. Retrieved
493:
466:. Retrieved
457:
429:. Retrieved
420:
392:. Retrieved
380:
368:
231:
216:
213:
205:
185:
169:
168:
160:
112:Headquarters
54:Company type
18:
1312:Foundations
1235:Pledge fund
1027:Secondaries
923:24 December
893:24 December
863:24 December
832:24 December
801:24 December
710:24 December
679:24 December
645:24 December
631:"Xiang Gao"
612:24 December
579:24 December
543:24 December
504:24 December
468:24 December
431:24 December
394:24 December
208:IDG Capital
130:Investments
37:Native name
1543:Categories
1400:Envy ratio
1307:Endowments
1170:Seed money
1084:Terms and
822:TechCrunch
374:"Form ADV"
360:References
353:USD 1,150
202:Background
98:Zhen Zhang
1370:Cap table
1275:Investors
1199:Structure
1017:Mezzanine
1005:Leveraged
242:Pinduoduo
151:gaorongvc
101:Xiang Gao
1420:Leverage
1356:Related
1086:concepts
917:Archived
887:Archived
857:Archived
826:Archived
795:Archived
764:Archived
762:. 2020.
734:Archived
732:. 2020.
704:Archived
673:Archived
639:Archived
606:Archived
573:Archived
537:Archived
498:Archived
462:Archived
425:Archived
385:Archived
342:USD 500
331:USD 400
320:RMB 560
309:USD 100
298:USD 362
287:RMB 320
276:USD 206
246:Ucommune
126:Products
92:Founders
64:Industry
46:Formerly
1430:M&A
1137:Venture
1042:History
1012:Venture
234:Amazfit
223:Alibaba
219:Tencent
194:-based
192:Beijing
190:) is a
174:Chinese
146:Website
116:Beijing
104:Bin Yue
84:2014-01
82: (
74:Founded
58:Private
1395:EBITDA
1094:Buyout
1022:Growth
1000:Buyout
770:8 June
740:8 June
635:Forbes
602:Forbes
227:Xiaomi
184::
182:pinyin
176::
1210:funds
1075:2020s
1070:2010s
1065:2000s
1060:1990s
1055:1980s
388:(PDF)
377:(PDF)
350:2020
339:2018
328:2017
317:2015
306:2015
295:2015
284:2014
273:2014
259:Fund
252:Funds
120:China
1262:SPAC
1208:and
1165:SAFE
984:and
925:2022
895:2022
865:2022
853:avcj
834:2022
803:2022
772:2023
742:2023
712:2022
681:2022
669:avcj
647:2022
614:2022
581:2022
569:avcj
545:2022
506:2022
470:2022
433:2022
396:2022
244:and
238:Nuro
225:and
178:高榕资本
153:.com
41:高榕资本
1435:PME
1415:IRR
1410:IPO
1365:AUM
381:SEC
137:AUM
1545::
915:.
911:.
885:.
881:.
855:.
851:.
824:.
820:.
793:.
789:.
758:.
728:.
702:.
698:.
671:.
667:.
655:^
637:.
633:.
622:^
604:.
600:.
589:^
571:.
567:.
553:^
535:.
531:.
514:^
496:.
492:.
478:^
460:.
456:.
441:^
419:.
404:^
383:.
379:.
248:.
240:,
236:,
221:,
180:;
118:,
974:e
967:t
960:v
927:.
897:.
867:.
836:.
805:.
774:.
744:.
714:.
683:.
649:.
616:.
583:.
547:.
508:.
472:.
435:.
398:.
172:(
86:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
