China VC player Banyan changes name to Gaorong

Gaorong was founded in 2014 by Xiang Gao, Zhen Zhang and Yue Bin, who previously focused on technology, media and telecom (TMT) investments for IDG Capital. The Chinese name translates as “tall banyan,” which was why the firm became known as Banyan Capital in English.

There is no standard approach to naming GPs in Chinese and English, and how the two names correlate. While some firms choose an English name that is simply the pinyin version of the Chinese, others use might use the translated form, pick a recognizably English name that sounds like the Chinese, or opt for something completely different.

If the English name came first – as is the case with international GPs – much effort often goes into selecting a Chinese name that sounds something like the English but also incorporates Chinese characters that are lucky or reflect the perceived virtues and ambitions of the firm. GPs have been known to consult fengshui masters on this issue.

Gaorong manages four US dollar-denominated funds and four renminbi funds, with total commitments of approximately $1.7 billion. This includes co-investment vehicles. The firm closed its third flagship US dollar and renminbi funds last year at $400 million and RMB2.5 billion ($391 million), respectively. It focuses on early and growth-stage investments across TMT, artificial intelligence, consumer and retail, financial technology, and enterprise services.

As of the end of 2017, more than 15 Gaorong portfolio companies had achieved valuations above $1 billion. There have also been four IPOs: Lifesense, Huami, Ping An Good Doctor, and Huya.

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• Topics
• Greater China
• GPs
• China
• Venture
• Banyan Capital