# Gaorong Capital: portfolio, investments and team

> Gaorong Capital is a vc firm based in China. 183 investments on record, 26 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/gaorong-capital (Millionrounds; every figure on the page links to its filing or article)

China · [Investor](https://millionrounds.com/investors)

# Gaorong Capital

Last cheque observed Oct 2026; 183 cheques on record.

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Deploying now VC firm

Pre-seed Seed Series A Genai Aigc Hardtech

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Deploying now

**93%** of best year **26** **cheques in 12 months**, 183 on record

Since the last cheque **1** days **00** hrs **00** min **00** sec

Median round **$30M** Cheque size, as they say **$3.0M – $30M** Rounds led **1 of 183** Sole investor **36 rounds** Mostly in **United States, 33%**

Pitch Gaorong Capital

## Gaorong Capital highlights

- 01 26 cheques in the last 12 months
- 02 Mostly Series A and Venture: 57% of its rounds
- 03 Sole investor in 36 rounds, median $7.5M

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $3.0M – $30M as they say
- **Stages:** Pre-seed Seed Series A Series B Growth
- **Sectors:** Genai Aigc Hardtech
- **Based in:** Wangjing, China
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **183 appearances**

- **2026** 20 rounds
- **Oct** **[Archon Robotics](https://millionrounds.com/company/archon-robotics)** Seed · CN · Google News search **Undisclosed** With 6 others
- **Sept** **[Anew Labs](https://millionrounds.com/company/anew-labs)** CN · TechStartups **$290M** With 8 others
- **Sept** **[Moonwalk Biosciences](https://millionrounds.com/company/moonwalk-biosciences)** Series B · US **$70M** With 4 others
- **Sept** **[Cornerstone Robotics](https://millionrounds.com/company/cornerstone-robotics)** Venture · HK **$700M** With 3 others
- **Aug** **[XPeng's robotics unit](https://millionrounds.com/company/xpeng-s-robotics-unit)** CN · TechNode **$900M** With 3 others
- **Aug** **[Xpeng Robotics](https://millionrounds.com/company/xpeng-robotics)** CN · TechStartups **$900M** With 5 others
- **Aug** **[ALLYRNA Pharmaceuticals](https://millionrounds.com/company/allyrna-pharmaceuticals)** Seed · HK **$100M** With 1 other
- **Jul** **[MiniMax](https://millionrounds.com/company/minimax)** SG **$1.2B** With 3 others
- **Jun** **[Axoft](https://millionrounds.com/company/axoft)** Series A · US · Ventureburn **$55M** With 6 others
- **Jun** **[Shuimu BioSciences](https://millionrounds.com/company/shuimu-biosciences)** Venture · US **Undisclosed** With 1 other
- **May** **[Nuro](https://millionrounds.com/company/nuro)** Venture · US **Undisclosed** With 3 others
- **May** **[Nothing](https://millionrounds.com/company/nothing)** Venture · GB **Undisclosed** With 4 others
- **Mar** **[KargoBot](https://millionrounds.com/company/kargobot)** Series B **$100M** With 1 other
- **Mar** **[Flexiv](https://millionrounds.com/company/flexiv)** Venture · US **Undisclosed** With 2 others
- **Mar** **[Zhijian Power](https://millionrounds.com/company/zhijian-power)** Venture **Undisclosed** With 4 others
- **Mar** **[HT Aero](https://millionrounds.com/company/ht-aero)** Venture **$200M** With 4 others
- **Mar** **[Immunofoco](https://millionrounds.com/company/immunofoco)** Venture **$29M** Sole investor
- **Feb** **[Cascade](https://millionrounds.com/company/cascade)** Venture · US **$72M** With 1 other
- **Feb** **[Neolix](https://millionrounds.com/company/neolix)** Venture **Undisclosed** With 3 others
- **Jan** **[Zenitar](https://millionrounds.com/company/zenitar)** Series C **$86M** With 2 others
- **2025** 23 rounds
- **Dec** **[MiniMax](https://millionrounds.com/company/minimax)** Venture · SG **Undisclosed** With 4 others
- **Dec** **[Nothing](https://millionrounds.com/company/nothing)** Crowdfunding · GB **$8.0M** With 3 others
- **Dec** **[Allink Biotherapeutics](https://millionrounds.com/company/allink-biotherapeutics)** Series A **$47M** With 2 others
- **Nov** **[Cornerstone Robotics](https://millionrounds.com/company/cornerstone-robotics)** Venture · HK **$200M** With 4 others
- **Nov** **[Kind Pharmaceutical](https://millionrounds.com/company/kind-pharmaceutical)** Series C **$56M** With 1 other
- **Nov** **[WIZ.AI](https://millionrounds.com/company/wiz-ai)** Venture · SG **Undisclosed** With 2 others
- **Oct** **[Shexu Technology](https://millionrounds.com/company/shexu-technology)** Venture **Undisclosed** With 2 others
- **Oct** **[LibLib AI](https://millionrounds.com/company/liblib-ai)** Series B **$130M** With 4 others
- **Sept** **[Adaps Photonics](https://millionrounds.com/company/adaps-photonics)** Series C **$14M** With 1 other
- **Sept** **[M.AI Unbound, Inc](https://millionrounds.com/company/m-ai-unbound-inc)** Seed · US **$25M** With 3 others
- **Sept** **[CytoNiche](https://millionrounds.com/company/cytoniche)** Venture **Undisclosed** With 3 others
- **Aug** **[Nova Fusion](https://millionrounds.com/company/nova-fusion)** Pre-seed **$69M** With 1 other
- **Aug** **[MiAO](https://millionrounds.com/company/miao)** Series B · SG **$14M** With 1 other
- **Aug** **[ALLYRNA Pharmaceuticals](https://millionrounds.com/company/allyrna-pharmaceuticals)** Seed · HK **$10M** Sole investor
- **Jul** **[Huayi Quantum](https://millionrounds.com/company/huayi-quantum)** Venture **Undisclosed** With 3 others
- **Jul** **[Gongbilin](https://millionrounds.com/company/gongbilin)** Series A **$14M** With 1 other
- **Jun** **[BOSS Zhipin](https://millionrounds.com/company/boss-zhipin)** **$280M** With 4 others
- **Jun** **[Biren Technology](https://millionrounds.com/company/biren-technology)** Venture **$209M** With 4 others
- **May** **[AkroStar](https://millionrounds.com/company/akrostar)** Venture **Undisclosed** With 4 others
- **Apr** **[eCloudTech](https://millionrounds.com/company/ecloudtech)** Venture **Undisclosed** With 1 other

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **2 named**

XG **Xiang Gao** Director of Banyan Capital Partners Ltd. i Form ADV

ZZ **Zhen Zhang** Director of Banyan Capital Partners Ltd. i Form ADV

We also hold **16** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$7.7B** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Banyan Capital Partners LTD.
- **SEC number:** CRD 170221

## The cheque

Pre-seed Seed Series A

Median round joined **$30M** the round, not its cheque Alone, median **$7.5M**

Led 1 of 183 rounds **1%**

- **Said size:** $3.0M – $30M
- **Sole investor:** 36 rounds
- **Last cheque:** Oct 2026

Rounds by stage said on their site

- Series A said *48*
- Venture *47*
- Series B said *36*
- Series C *18*
- Series D *9*
- Seed said *9*
- Pre-seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [HSG](https://millionrounds.com/fund/hsg) 27
- [IDG Capital](https://millionrounds.com/fund/idg-capital) 23
- [5Y Capital](https://millionrounds.com/fund/5y-capital) 17
- [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) 17
- [Hill House Capital](https://millionrounds.com/fund/hill-house-capital) 14
- [ZhenFund](https://millionrounds.com/fund/zhenfund) 13

**Pitching Gaorong Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Gaorong Capital. A count of rooms they were both in, not a relationship either has claimed.

[**HSG** VC firm **27** rounds together](https://millionrounds.com/fund/hsg)[**IDG Capital** Private equity **23** rounds together](https://millionrounds.com/fund/idg-capital)[**5Y Capital** VC firm **17** rounds together](https://millionrounds.com/fund/5y-capital)[**Tengxun Touzi** VC firm **17** rounds together](https://millionrounds.com/fund/tengxun-touzi)[**Hill House Capital** Family office **14** rounds together](https://millionrounds.com/fund/hill-house-capital)[**ZhenFund** VC firm **13** rounds together](https://millionrounds.com/fund/zhenfund)[**Shunwei Capital** VC firm **10** rounds together](https://millionrounds.com/fund/shunwei-capital)[**Source Code Capital** VC firm **10** rounds together](https://millionrounds.com/fund/source-code-capital)[**Legend Capital** VC firm **8** rounds together](https://millionrounds.com/fund/legend-capital)[**Qiming Venture Partners** VC firm **8** rounds together](https://millionrounds.com/fund/qiming-venture-partners)[**Matrix Partners China** VC firm **7** rounds together](https://millionrounds.com/fund/matrix-partners-china-2)[**CDH Investments** Private equity **6** rounds together](https://millionrounds.com/fund/cdh-investments)

## Recently backed

The latest companies Gaorong Capital put money into.

[**Moonwalk Biosciences** $70M · Sept 2026](https://millionrounds.com/company/moonwalk-biosciences)[**Cornerstone Robotics** $700M · Sept 2026](https://millionrounds.com/company/cornerstone-robotics)[**Axoft** $55M · Jun 2026](https://millionrounds.com/company/axoft)[**Shuimu BioSciences** Jun 2026](https://millionrounds.com/company/shuimu-biosciences)[**Nuro** May 2026](https://millionrounds.com/company/nuro)[**Nothing** May 2026](https://millionrounds.com/company/nothing)

## Quick answers about Gaorong Capital

### What does Gaorong Capital invest in?

Gaorong Capital invests most often at Series A and Venture (57% of the rounds on record), in sectors such as Genai, Aigc and Hardtech.

### How active is Gaorong Capital?

183 investments on record, 26 of them in the last 12 months, and it led 1. The most recent was in Oct 2026.

### What has Gaorong Capital invested in recently?

Its most recent investments on record: Archon Robotics (Seed, Oct 2026), Anew Labs (Undisclosed round, Sept 2026) and Moonwalk Biosciences (Series B, Sept 2026).

### How big are Gaorong Capital's cheques?

The median round it joins is $30M. It says it writes cheques of $3.0M to $30M.

### Does Gaorong Capital lead rounds?

Sometimes: it led 1 of its 183 investments on record (1%).

### Where does Gaorong Capital invest?

Most of the companies it backs are in the United States (33%), China (19%) and Hong Kong SAR China (19%).

### Is Gaorong Capital investing now?

Yes: it is actively investing, with 26 investments in the last 12 months.

### Who does Gaorong Capital invest alongside?

Most often HSG (27 rounds together), IDG Capital (23 rounds together) and 5Y Capital (17 rounds together).

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