# HongShan Capital: portfolio, investments and team

> HongShan Capital is an investment firm. 2 investments on record, 2 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

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

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

# HongShan Capital

Last cheque observed Sep 2026; 2 cheques on record.

Email

Investment firm Deploying now

Series A Series B

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Deploying now

**100%** of best year **2** **cheques in 12 months**, 2 on record

Since the last cheque **55** days **00** hrs **00** min **00** sec

Median round **$250M** Rounds led **1 of 2**

Pitch HongShan Capital

## HongShan Capital highlights

- 01 2 cheques in the last 12 months
- 02 Mostly Series A and Series B: 100% of its rounds
- 03 Led 1 rounds

## What they do

- **Type:** Investment firm (from a list, unverified)
- **Cheque size:** Not stated
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **2 appearances**

- **2026** 2 rounds
- **Sept** **[GENISOM AI](https://millionrounds.com/company/genisom-ai)** Series B · CN · Ventureburn **Undisclosed** With 7 others
- **Feb** **[Spirit AI](https://millionrounds.com/company/spirit-ai)** Series A · CN · Ventureburn **$250M** *Led*

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.

Who backs their funds

## 1 LP on record in HongShan Capital's funds

- **Committed:** $282M
- **Funds:** 4
- **Vintages:** 2022 to 2024

The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Mar 2026.

- [**California Public Employees' Retirement System (CalPERS)** 4 funds *$282M*](https://millionrounds.com/fund/california-public-employees) Fund Vintage Committed HongShan Capital Expansion Fund I 2024 $134M HongShan Capital Growth Fund VII 2023 $104M HongShan Capital Venture Fund IX 2022 $32M HongShan Capital Seed Fund III 2022 $12M

## The cheque

Series A Series B

Median round joined **$250M** the round, not its cheque

Led 1 of 2 rounds **50%**

- **Sole investor:** Never alone
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Series A *1*
- Series B *1*

Cheques by month Led Joined

Dec 2023 Nov 2026

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## Recently backed

The latest companies HongShan Capital put money into.

[**Spirit AI** $250M · Feb 2026](https://millionrounds.com/company/spirit-ai)

## Quick answers about HongShan Capital

### What does HongShan Capital invest in?

HongShan Capital invests most often at Series A and Series B (100% of the rounds on record).

### How active is HongShan Capital?

2 investments on record, 2 of them in the last 12 months, and it led 1. The most recent was in Sept 2026.

### What has HongShan Capital invested in recently?

Its most recent investments on record: GENISOM AI (Series B, Sept 2026) and Spirit AI (Series A, Feb 2026).

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

The median round it joins is $250M.

### Is HongShan Capital investing now?

Yes: it is actively investing, with 2 investments in the last 12 months.

### What kind of investor is HongShan Capital?

HongShan Capital is an investment firm.

### Where does this information on HongShan Capital come from?

From 3 articles and filings naming it in a round, public registers and its own website, checked and rebuilt every night.

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