As tensions between Washington and Beijing increased, Neil Shen, the most well-known tech investor in China, obtained permanent residency in Singapore and subsequently established an office for his $56 billion venture capital firm there.
According to an FT story, the millionaire founder of Sequoia China, who gained notoriety for his early investments in Alibaba, ByteDance, and Shein, was bestowed with this status prior to the Covid-19 outbreak.
Shen’s company, which changed its name to HongShan last year, then opened an office in Singapore after separating from US-based Sequoia in June.
Since the pandemic, HongShan has also urged a few of its China-based portfolio companies with aspirations to establish offices abroad by establishing entities in Singapore.
