Gaorong Ventures was named to Forbes China's "2018 Best Venture Capital Firms TOP 10."

高榕创投高榕创投·December 13, 2018

Chang Chen, Gao Xiang, and Yue Bin were named to Forbes China's "2018 Best Venture Capitalists" list.

On December 12, 2018, Forbes China released its 2018 China Best Venture Capitalists list and Best Venture Capital Firms list.

Gaorong Ventures was named to Forbes China's "2018 Top 10 Best Venture Capital Firms."

Meanwhile, all three of Gaorong Ventures' founding partners — Chang Chen, Gao Xiang, and Yue Bin — were selected for Forbes China's "2018 China Best Venture Capitalists" list. Among them, Chang Chen ranked in the top 10.

Gaorong Ventures founding partners Chang Chen, Gao Xiang, and Yue Bin

Forbes China has been publishing its "China Best Venture Capitalists" rankings for over a decade. This year's edition continued its evaluation of "Best VC Investors, Best VC Firms, and Best PE Firms," adhering to its established methodology with a focus on exits and performance over the previous five years (January 1, 2014 to August 31, 2018).

As of this announcement, Gaorong Ventures had already seen six portfolio or partially-owned companies complete IPOs in 2018 alone: Pinduoduo (NASDAQ: PDD), HUYA Inc. (NYSE: HUYA), HMI (NYSE: HMI), MOGU (NYSE: MOGU), Meituan (03690.HK), and Ping An Good Doctor (01833.HK). Several additional companies had already filed for listing. Deep learning solutions provider DeePhi Tech was also acquired by Xilinx in Q3.

Numerous companies backed or co-invested by Gaorong have grown into industry leaders, including: Pinduoduo, HUYA Live, HMI, MOGU, Lifesense, Meituan, Ping An Good Doctor, Zhongrongjin, DeePhi Tech, Qian Daibao, U-P Fintech, Beibei, Leqi E-commerce, DotC, Nuro, YITU, Roborock, Tianrang Intelligence, Zhuiyi Technology, Hupo Technology, Oasis Labs, Beitai Haoche, QuantGroup, Shuidihuzhu, Testin, Doumi, BIGO LIVE, Danke Apartment, Qian Damai, Perfect Diary, Rela Life, and Ucommune.

Pinduoduo, the new e-commerce platform in which Gaorong Ventures led consecutive Series A and B rounds and continued to invest through Series C and D, successfully listed on Nasdaq in July. Gaorong Ventures was consequently awarded the "Exit of the Year — IPO" prize by AVCJ (Asian Venture Capital Journal) in November. This award is voted on by top institutional investors worldwide and is granted to only one candidate project across all of Asia each year.

Gaorong Ventures completed the raise of its $500 million fourth USD fund on December 5, bringing the total AUM across its nine funds to approximately RMB 15 billion (or roughly $2.2 billion). The close further strengthened Gaorong's investment ecosystem built on "institutional LPs as the capital foundation and entrepreneur LPs as the value-add ecosystem."

With the new USD fund in place, Gaorong Ventures will continue to focus on early and growth-stage TMT investments in new consumer, new technology, industrial internet, and enterprise services.

Chang Chen commented: "We are grateful to Forbes China and friends across the community for recognizing Gaorong's achievements. All of these accomplishments stem from the hard work and creativity of our portfolio companies' founding teams. Gaorong hopes to do everything it can to be a co-builder of high growth for outstanding startups and long-term value for future great enterprises."

END

Recommended Reading

The Gaorong Investment Approach: What to Do, What Not to Do

Gaorong Ventures Completes $500 Million New Fund Raise, Committed to Building Long-Term Value with Entrepreneurs

  • Gaorong Ventures manages USD and RMB funds with total AUM of approximately RMB 15 billion, focused on early and growth-stage investments in the TMT sector.

  • Its LP base includes top-tier global institutional investors as well as corporate giants from China's financial, retail, and advertising industries.

  • Additionally, dozens of successful entrepreneurs — founders of companies including Tencent, Baidu, Taobao, Xiaomi, Meituan, Dianping, 360, 002027, Weibo, Sohu, JD.com, Vipshop, Tudou, Autohome, and Ganji.com — are also LPs in Gaorong Ventures' funds.

  • The founding partners previously led investments in numerous outstanding companies, including Xiaomi, Razer, Baofeng Technology, G-bits, Tudou, Wondershare, Archermind, 91 Assistant, 3G.cn, MOGU, Dota Legend, Yuanfudao, and others.

  • Since its founding, numerous companies in which Gaorong has invested or taken stakes have grown into national or global leaders in their respective industries, including: Pinduoduo (NASDAQ: PDD), HUYA Live (NYSE: HUYA), HMI (NYSE: HMI), MOGU (NYSE: MOGU), Lifesense (300562.SZ), Meituan (03690.HK), Ping An Good Doctor (01833.HK), Zhongrongjin (acquired by Homa Appliances), DeePhi Tech (acquired by Xilinx), Qian Daibao (acquired by Meituan), U-P Fintech, Beibei, Leqi E-commerce, DotC, Nuro, YITU, Roborock, Tianrang Intelligence, Zhuiyi Technology, Hupo Technology, Oasis Labs, Beitai Haoche, QuantGroup, Shuidihuzhu, Testin, Doumi, BIGO LIVE, Danke Apartment, Qian Damai, Perfect Diary, and Ucommune.

  • Gaorong Ventures maintains investment teams in Beijing, Shanghai, Guangzhou, Shenzhen, and Hangzhou.

Scan the QR code to follow Gaorong Ventures

Thank you, good friends of Gaorong