Xiaohongshu
Block C, 388 Madang Road, Shanghai, Huangpu, 200021, China
Overview
Xiaohongshu is a platform that enables users to share lifestyle experiences through text, images, and videos. Initially focused on assisting overseas travelers with shopping, it has evolved into a community centered around fashion and shopping insights.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 5
Sector focus
- E-Commerce
- Mobile Apps
- Shopping
- Social
Investment portfolio
- Moonshot AI
Participated · Series B · Feb 2024
Moonshot AI was founded in 2023 by Yang Zhilin, a former Meta AI and Google Brain researcher. The lab gained prominence with its open-weight Kimi models—Kimi K2.5 notably drove rapid adoption and Kimi K2.6 became one of the most-used LLMs on the OpenRouter distribution platform. Moonshot competes with models from OpenAI, Google, Anthropic, ByteDance, Alibaba, Zhipu and other Chinese AI labs. The company reported annual recurring revenue exceeding $200 million in April, fueled by paid subscriptions and API usage. Moonshot attracted significant investor support prior to this round, having raised about $3.9 billion over the prior six months and counting backers such as Alibaba, Tencent, HongShan, ZhenFund, IDG Capital and 5Y Capital. Its valuation progressed from about $4.3 billion at the end of 2025 to roughly $10 billion in early 2026 before the current $20 billion valuation.