Haoreng Capital

Gaorong Capital is a China-based venture capital firm that focuses on early and growth stage investments across technology, media, and telecommunications (TMT), including AI and frontier technologies, consumption and retail, fintech, and enterprise services. The firm typically invests $1-5 million per company, targeting Series A stage businesses with an exit strategy focused on sales to strategic investors or initial public offerings (IPOs). It was established by former IDG Capital partners to create a "Founders' Fund" model with entrepreneurs as limited partners. Co-founder Yue Bin is recognized for identifying Xiaomi's smartphone ambitions and securing their Series A investment while at IDG Capital. Notable portfolio companies include BeBeBus, for which Gaorong Ventures led a Series A+ financing round in 2021. The firm, formerly known as Banyan Capital, was founded in January 2014 by Zhang Zhen, Gao Xiang, and Yue Bin.