HSG
HSG(Formerly Sequoia Capital China) is a venture capital firm that focuses on seed, mid, late, and growth investments in the fintech sector.
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Bloomberg: Robotics Startup Genesis AI in Talks to Raise Approximately $500 Million
according to sources familiar with the matter, AI robotics startup Genesis AI is in talks with investors for a new funding round, planning to raise approximately $500 million, corresponding to a pre-money valuation of around $3 billion. Existing investor Premji Invest is in discussions to lead the round, while HSG (formerly Sequoia China) and Northzone Ventures are also discussing additional investments.In June this year, Genesis AI launched an AI industrial robot named Eno. The company stated that Eno is capable of reasoning "beyond predefined tasks" and adapting based on different outcomes. (Bloomberg)
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Manus is reportedly pursuing an equity transaction at a $2 billion valuation, with Tencent potentially becoming the largest shareholder
According to sources familiar with the matter, Tencent is in talks to become the largest shareholder of AI agent company Manus. Most existing investors, including Tencent, ZhenFund, and Sequoia Capital China, are discussing supporting a deal at a $2 billion valuation to block Meta's acquisition.
Tencent invests in new AI lab founded by former head of Alibaba's Tongyi Qianwen, with initial funding round reaching hundreds of millions of dollars
the new AI lab founded by Lin Junyang, former core head of Alibaba's Tongyi Qianwen, has completed its initial funding round, raising a total of several hundred million US dollars with a post-investment valuation of approximately $2 billion. Sequoia Capital China and Gaorong Capital each led the round with $100 million investments, while Tencent participated with a $20 million investment. Lin Junyang left in March this year due to disagreements over team restructuring. The project has now initiated preparations for a new funding round. Tencent, which is intensifying its AI layout, has previously invested in multiple local large-model enterprises and is also currently participating in the latest funding round of DeepSeek. (The Information)
Meta May Withdraw $2.5 Billion Acquisition of AI Startup Manus
According to The Wall Street Journal, Meta is preparing to unwind its acquisition of AI startup Manus. If Meta proceeds with unwinding the deal, several of Manus’s former Asian investors—including Tencent, Sequoia China, and ZhenFund—plan to cooperate. Additionally, both companies are required to terminate the transaction and fully restore Manus’s assets in China to their pre-acquisition status, including retrieving any data or technology previously transferred to Meta. Manus is a China-related startup headquartered in Singapore, focused on developing AI agents. Meta completed the $2.5 billion acquisition last December and has rapidly integrated the related technologies into its own systems. Should the deal ultimately be unwound, both parties will need to separate the already-integrated technologies and systems. Earlier reports indicated that China banned the transaction on April 27 on national security grounds.
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