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Since 2019, HongShan has backed 1 African startup across 3 disclosed funding rounds totaling $570M, most heavily in Nigeria and Fintech.
HongShan, also known as HSG and formerly Sequoia Capital China, is a leading venture capital and private equity firm founded in 2005. The firm invests globally in technology, healthcare, and consumer sectors, managing over USD 55 billion in assets. HongShan operates from offices in Hong Kong, Beijing, Shanghai, Shenzhen, Singapore, London, and Tokyo. In Africa, HongShan has focused on Nigeria, participating in three fintech funding rounds between July 2019 and August 2021. These investments spanned Series A, Series B, and Series C stages, totaling $570 million, all directed to the fintech company Opay, which offers transfers, bill payments, and savings via a mobile wallet. HongShan frequently co-invested with partners such as Source Code Capital across all three rounds, alongside SBVA, Redpoint, GSR Ventures, and Dianping in multiple rounds.
Data updated · Jul 29, 2026
HongShan has backed 1 African startup across 3 disclosed funding rounds tracked on Liners, totaling $570M since 2019.
Mostly Series C: 1 of its 3 tracked rounds are at that stage, followed by Series B (1).
HongShan's tracked rounds are concentrated in Nigeria (3).
Its tracked rounds lean toward Fintech (3).
HongShan most often shares rounds with Source Code Capital (3 shared deals), SBVA (2 shared deals), Redpoint (2 shared deals).
HongShan backed Opay in three funding rounds. Opay provides transfers, bill payments, and savings in a mobile wallet.
