Greenwoods Investment

What Greenwoods Investment does

Greenwoods Investment is the dedicated private equity arm of Greenwoods Asset Management, founded in 2004 and headquartered in Shanghai with a regional office in Hong Kong (Jardine House, Central). The firm manages seven core private equity funds — four RMB-denominated vehicles (Greenwoods RMB Fund I–IV, raised 2010–2019) and three USD-denominated vehicles (Greenwoods Bloom Fund I–III, raised 2012–2019) — plus several sector-specific funds, with combined PE assets exceeding US$3 billion against a group-level AUM above US$20 billion. Greenwoods invests primarily in growth-stage to mature-stage Greater China companies across four verticals: consumer services, healthcare, TMT, and advanced manufacturing, with selective early-stage exposure.

The firm’s stated differentiator is an integrated public-private research platform that combines domestic Chinese and international market coverage to source deals, structure investments, and time exits — a capability supported by long-tenured relationships with regulators, entrepreneurs, and industry specialists. Notable portfolio names include SHEIN, DJI, Bilibili, Kuaishou, Giant Biogene (HKEX: 2367.HK), Gan & Lee Pharmaceuticals (SHSE: 603087), Phoenix Healthcare (HKEX: 1515.HK), Didi (NYSE: DIDI), Dada (NYSE: DADA), and Dianping (HKEX: 03690.HK), spanning marquee consumer, healthcare, and technology franchises.

Greenwoods generates revenue through the standard private equity model: management fees on committed capital under management, plus performance-based carried interest on investment returns above specified hurdles. The firm distributes its funds through direct, relationship-driven fundraising to qualified institutional and foreign/domestic LPs, with limited-partner agreements negotiated bilaterally rather than disclosed publicly. The senior team is anchored by founder and CIO George Jiang (former first Head of Bonds and Futures at the Shenzhen Stock Exchange and ex-Chairman of Guangdong Securities) alongside partners with backgrounds at China Development Bank International, Deutsche Bank, HSBC, ING, Ernst & Young, and King & Wood Mallesons.

Name

Greenwoods Investment

Legal name

Greenwoods Investment

Website

https://en.greenwoodsinvest.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

Greenwoods Investment is the Shanghai-based private equity arm of Greenwoods Asset Management, managing over US$3 billion across seven RMB and USD PE funds plus sector vehicles. It invests in growth-stage to mature Greater China companies across consumer, healthcare, TMT, and advanced manufacturing, serving foreign and domestic institutional LPs via management fees and carried interest.

Ownership category

akta.pro rank

Product category

Private Equity Fund Management

NAICS

Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (52394)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Multi-Sector / Generalist Growth Equity (FSANACAO)

Keywords

• Private equity funds
• Venture capital investing
• Growth-stage investments
• China PE management
• PE fund management

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management (Management Fees): PE fund management fees charged to limited partners (LP investors) based on committed capital under management.
2. Carried Interest (Performance Fees): Performance-based carried interest earned on investment returns above specified hurdles in their PE funds.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Greenwoods Investment is the private equity arm of Greenwoods Asset Management. It manages RMB and USD-denominated PE funds that invest in growth-stage to mature-stage companies across Greater China, with sector concentration in Consumer Services, Healthcare, TMT, and Advanced Manufacturing. The firm raises capital from institutional limited partners and deploys it into portfolio companies, drawing on an integrated public-private investment platform.

Product overview

Greenwoods Investment is a private equity firm offering a suite of investment funds spanning RMB and USD denominated vehicles. The firm manages 7 main PE funds (Greenwoods RMB Funds I-IV and Greenwoods Bloom Funds I-III) plus several sector-specific funds, with combined assets exceeding US$3 billion. The funds focus on growth-stage to mature-stage companies in consumer services, healthcare, TMT, and advanced manufacturing sectors across Greater China.

Differentiator

Problem solved

Functional benefit

Brands

• Greenwoods Bloom Fund: USD-denominated private equity fund series managed by Greenwoods Investment
• Greenwoods RMB Fund

Products and services

• Greenwoods RMB Fund I Onshore RMB-denominated private equity fund for institutional LPs, targeting growth-stage to mature-stage companies in Greater China across consumer, healthcare, TMT, and advanced manufacturing.
• Greenwoods RMB Fund II Second vintage of the onshore RMB private equity fund series, continuing growth-stage to mature-stage investing in Greater China.
• Greenwoods RMB Fund III Third vintage of the onshore RMB private equity fund series, focused on growth and mature-stage opportunities in Greater China.
• Greenwoods RMB Fund IV Fourth vintage of the onshore RMB private equity fund series, continuing growth and mature-stage investing in Greater China.
• Greenwoods Bloom Fund (USD) Offshore USD-denominated private equity fund for international and domestic institutional LPs, targeting growth-stage to mature-stage companies in Greater China.
• Greenwoods Bloom Fund II Second vintage of the offshore USD private equity fund series, continuing growth and mature-stage investing in Greater China.
• Greenwoods Bloom Fund III Third vintage of the offshore USD private equity fund series, continuing growth and mature-stage investing in Greater China.
• Greenwoods Sector Funds Multiple sector-focused private equity funds that complement the flagship RMB and USD series, concentrated in consumer, healthcare, TMT, and advanced manufacturing themes.

Quantifiable outcome

• Successful IPO exits including Giant Biogene (HKEX: 2367.HK, market value HK$26.476 billion), Impulse Health Tech (SZSE: 002899), Yihai International, and others
• +2 more outcomes

Named customers20 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PAG (Pacific Alliance Group): Asia-focused alternative investment firm with a sizeable China private equity practice. Comparable to Greenwoods in multi-sector China growth investing, dual-currency (RMB/USD) fund vehicles, and similar consumer, healthcare and TMT deal sourcing through local networks.
• CDH Investments: Beijing-headquartered private equity firm founded in 2002 focused on growth-stage and control buyouts in China. Highly comparable to Greenwoods in vintage maturity, RMB/USD fund structure, and multi-sector China exposure (consumer, healthcare, industrials, TMT).
• Hopu Investments: Beijing-headquartered alternative investment firm managing China-focused RMB and USD funds across private equity and real assets. Comparable to Greenwoods in multi-sector China growth/buyout investing with established institutional LP base and long track record.
• Legend Capital: Beijing-headquartered China PE firm founded in 2001 by founders of Lenovo Holdings. Comparable to Greenwoods in vintage, multi-stage China PE model with RMB and USD funds covering TMT, consumer, healthcare and advanced manufacturing sectors.
• Boyu Capital: Hong Kong-based Greater China alternative asset manager founded in 2011. Directly comparable as a multi-sector China growth/buyout firm raising USD funds with deep local networks, focused on consumer, healthcare, TMT and industrials - Greenwoods' exact verticals.
• FountainVest Partners: Hong Kong/Shanghai-based private equity firm focused on growth and buyout investments in China. Highly comparable to Greenwoods in multi-sector China PE model, large RMB and USD fund vehicles, and focus on consumer, healthcare, TMT and industrial growth opportunities.
• Hillhouse Capital Group: Asia-focused multi-stage private equity and growth investor headquartered in Hong Kong/Beijing. Directly comparable to Greenwoods as a China-focused multi-sector growth equity firm managing USD/RMB funds with similar consumer, healthcare and TMT exposure and a reputation for backing category leaders.
• Warburg Pincus China: Global growth investor with a sizeable China practice. Directly comparable to Greenwoods' growth-equity model targeting Chinese consumer, healthcare and TMT opportunities with USD-denominated funds raised from LPs globally.
• HongShan (formerly Sequoia Capital China): Spin-out of Sequoia's China franchise, one of the largest China growth/venture franchises. Directly comparable to Greenwoods in multi-stage China investing across consumer, TMT, healthcare, and advanced manufacturing, with overlapping portfolio (Didi, DJI-adjacent deals, etc.).
• CITIC Capital: Asia-focused alternative asset manager with deep China roots and RMB/USD funds. Directly comparable to Greenwoods as a multi-sector China PE firm targeting growth/control deals in consumer, healthcare, industrials and TMT with established China LP relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments26 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Greenwoods Investment