Shen attended the University of Shanghai for Science and Technology where he earned a Bachelor's degree in Mathematics. He attained his Master's degree in System Engineering from the Georgia Institute of Technology in 1992.
Early in his career, Shen was a Financial Consultant and VP of Investment and Raymond James Financial and Senior Internet Consultant at the MCI Corporation. He was based in Atlanta during this time. In 2001, he moved to Shanghai to become the Assistant President at China East Asset Management. He was later the CEO of Shanghai HuaJi Internet Holding Company, Managing Partner of Confederated Asset Management Ltd, and CEO of DACx. In October 2015, Shen became Founding/Managing Partner of Fenbushi Capital, the first venture capital firm that invests exclusively in blockchain-enabled companies.