HongShan Capital, previously Sequoia Capital China, is opening a London office to seek investment opportunities in Europe.

This was confirmed by a recent Financial Conduct Authority filing that registered HSG Advisors UK Ltd.

This decision represents a strategic pivot for HongShan in the wake of Sequoia Capital’s split into three entities amid rising geopolitical tensions between the US and China.

Faced with a slowdown in China’s economic growth and heightened regulatory scrutiny, HongShan is adjusting its investment strategy.

The firm is targeting late-stage and private equity deals in consumer products, healthcare, and new energy.

The firm has made nearly ten investments in Europe. This includes companies such as Monzo Bank Ltd., a London-based digital bank, and Barinthus Biotherapeutics Plc, a German healthcare firm.

HongShan has managed roughly US$56 billion in assets, raising about US$9 billion from various global investors, including pension funds and endowments.

HongShan intends to maintain a compact team in London, set to spearheaded by a single managing director.