GSR Ventures Management Co. is seeking investors for a new fund that could raise about $350 million for China venture capital investments, according to people familiar with the matter. GSR is marketing its stake in social media platform Xiaohongshu, also known as RedNote, as a key attraction for investors, with potential exposure to existing RedNote shares through the firm’s current fund. The people said Xiaohongshu is valued at about $50 billion in the existing fund, up from $31 billion in a se

GSR Ventures Management Co. is seeking investors for a new fund that could raise about $350 million for China venture capital investments, according to people familiar with the matter. GSR is marketing its stake in social media platform Xiaohongshu, also known as RedNote, as a key attraction for investors, with potential exposure to existing RedNote shares through the firm’s current fund. The people said Xiaohongshu is valued at about $50 billion in the existing fund, up from $31 billion in a secondary transaction in the first half of 2025.