Neil Shen’s HongShan has struggled to invest its $9bn cash pile in a weak domestic market and tough US controls
Shanghai’s Energy Singularity looks to raise $500mn to develop clean energy breakthrough using locally sourced materials
Neil Shen’s HongShan creates renminbi vehicle with more scope to invest in sensitive technologies than previous $9bn fund
Investors in Chinese robotmaker Unitree include Neil Shen’s HongShan, Matrix Partners China and Shunwei Capital
Companies backed by tech investor’s HongShan group subsequently expanded in city-state
Venture capital firm plots future outside China after split with Silicon Valley giant
Plans to expand into south-east Asia dealmaking from city-state puts it in direct competition with India-based Peak XV
Billionaire founder takes on challenge after break-up of partnership with US
Group plans to break up into three entities following Beijing’s campaign to rein in country’s largest tech companies
Billionaire founder of powerful VC firm raises $9bn tech fund with a plan aligned to Beijing’s policy goals
Funding round comes as global investors retreat over country’s zero-Covid policy and regulatory onslaught
