Officially joins Sequoia China, Nike Greater China Chairman Dong Wei transitions to consumer investor

The Daily Economic News reporter | Li Lei    The Daily Economic News editor | Peng Shuping

Nike Greater China chairman and CEO Dong Wei (Angela Dong)’s next stop has been confirmed. The reporter from The Daily Economic News learned from industry insiders that she will join Sequoia China as an investment partner on April 1.

Public information shows that Dong Wei joined Nike China in 2005, appointed as deputy general manager in 2015. In October 2024, she was promoted again to chairman and CEO of Greater China. On March 31, 2026, she officially stepped down and announced that she had joined Sequoia China, becoming a consumer investor.

Since its founding, Sequoia China has identified consumer as one of its three major areas. The tracks it has covered include IP trends, tourism to sports, and more. It has made precise investments in a number of well-known consumer companies such as Pop Mart, Mingming Very Busy, Betterine, Kengyou (卡游), Guming (古茗), and others, and many of them are investors at the earliest stage.

Before this, Zhang Yu, the former chief editor of VOGUE China’s Fashion and Beauty edition, also announced that she had become an investment partner at Sequoia China. With her joining and taking the lead, Sequoia China has invested in or acquired multiple design brands from Europe, the U.S., and Korea—such as Ami, WE11DONE, DESTRE, Holzweiler, and others.

From the person in charge of Nike China to a Sequoia China investor

In the big consumer segment, Dong Wei has more than 20 years of executive experience, with a career spanning multiple global consumer goods giants.

Public information shows that Dong Wei joined Nike China in 2005 as chief financial officer. In September 2011, she became vice president of Nike Greater China and chief financial officer. In April 2015, she continued to be promoted to global vice president and general manager of Nike Greater China, fully responsible for Nike’s business strategy and operations in the China market, playing a key role in driving the company’s continued growth in Greater China. In October 2024, Nike appointed Dong Wei as chairman and CEO of Greater China, and global CEO of the ACG brand. This is also the first China-based executive to lead Nike’s global sub-brand.

Industry insiders have said that during her 21 years at Nike, Dong Wei witnessed and led the rise and transformation of this international sports brand in the China market. She built a world-class local team and an innovation ecosystem, and also promoted Nike’s layout in digital transformation, localization innovation, and sustainable development—making Nike Greater China an important strategic pillar for the group’s global strategy.

In addition, since 2021, Dong Wei has also served as an independent director of Estée Lauder Companies, demonstrating her influence in the global consumer goods industry. All of this became her confidence for her pivot to becoming a consumer investor.

The reporter from The Daily Economic News noted that Dong Wei’s Title at Sequoia China is “investment partner.” In the investment world, an investment partner (Venture Partner) is a relatively special role positioning.

A senior VC told the reporter that when seasoned industry or sector professionals transition into investors, they often start out with the role of investment partner. This identity usually comes with many years of deep experience in the industry or sector. Their judgments about high-quality projects are typically more precise than those of ordinary investors. At the same time, they can leverage their own accumulated resources and relationship networks to empower the investee projects and related industry companies—this is where their core value lies: “It’s also a choice that many entrepreneurs make after their business reaches a certain stage.”

This model is not uncommon in international investment circles. Compared with general partners, the relationship between an investment partner and the fund company is more loosely structured. But it combines industry experience with capital strength, providing investees with more targeted strategic guidance and resource support.

Sequoia China previously brought in multiple investment partners, forming an industry expert matrix covering multiple areas such as consumer, technology, and carbon neutrality. For example, in early 2021, Zhang Yu—known as the “fashion demoness” in China—former editor-in-chief of the VOGUE China edition, announced that she had joined Sequoia China as an investment partner, focusing on fashion, lifestyle, and entertainment consumption, supporting the next generation of Chinese creativity and international brands seeking development in China. After joining Sequoia, Zhang Yu fully leveraged her resources and influence in the fashion industry. Sequoia China invested in or acquired multiple design brands from Europe, the U.S., and Korea, including the French brand AMI and DESTREE, the Korean fashion trend brand WE11DONE, and the Norwegian brand Holzweiler, among others, continuously expanding its consumer fashion investment footprint.

Can the consumer track be good again?

Since this year began, the rebound in investment in the consumer sector has become a hot topic in the industry. Multiple consumer investors, in interviews with reporters from The Daily Economic News, said that the investment value-for-money of quality projects has clearly improved, and that the industry’s recovery trend is evident—driven by multiple dimensions.

On one hand, warm policy winds have been blowing frequently. On March 6, Wu Qing, chairman of the China Securities Regulatory Commission, delivered a major signal at the economic-themed press conference of the fourth session of the 14th National People’s Congress—stating that a more precise and more inclusive set of listing standards will be added to the ChiNext (GEM), and that quality innovation and entrepreneurship enterprises such as emerging consumption and modern services will be actively supported to list on the ChiNext.

Once the news broke, the entire primary market was instantly ignited, and especially consumer investors felt greatly encouraged. An interviewed agency said that this policy signal injected a shot of adrenaline into the consumer track. It can not only broaden the exit channels for quality consumer companies, but also guide more capital to return to the consumer sector, helping the industry develop in a healthy way.

In terms of data, the amount of consumer investment has also been rising steadily this year. The reporter from The Daily Economic News, based on data from iResearch/China’s Zero2IPO platform (投中嘉川), found that in January and February this year, the investment scale in the consumer sector reached 2.552 billion yuan and 7.063 billion yuan respectively. Year-on-year, that was up 116.64% and 209.51%. Compared with January, February also surged 176.76%. This reflects that confidence in the consumer track in the primary market is being quickly restored, with capital accelerating into this area.

For Sequoia China, the consumer track has always been one of its three major priorities. From IP trends and tourism to sports, you can see Sequoia China’s presence. It has made precise investments in a batch of well-known consumer companies such as Pop Mart, Mingming Very Busy, Betterine, Kengyou (卡游), Guming (古茗), and others, and many of them are early-stage investors.

Sequoia China partner Hu Ruodi previously said that Sequoia started with consumer investments at the beginning of its founding in 2005, and has continued to remain optimistic about and track China’s catering and retail industries, continuously uncovering underwater projects. This investment strategy has brought the institution significant gains in the consumer field. For example, Guming invested in 2019–2020; it listed on the Hong Kong Stock Exchange in February 2025, and its market value is now close to three times that of the company on its IPO first day. Mingming Very Busy listed in January 2026, becoming the “No. 1 snack stock,” with its market value once exceeding 90 billion HKD, among others.

Cover image source: AIGC