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Hillhouse Capital Group

Investor type Private Equity Firm
Founders Zhang Lei


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This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.
Total investments 409
Average round size
The average size of a deal this fund participated in
Portfolio companies 311
Rounds per year 24.06
Lead investments 77
Follow on index
How often the fund supports its portfolio startups at next rounds
Exits 52
Key employees 12
Stages of investment
Early Stage Venture
Late Stage Venture
Private Equity

Areas of investment

  • Biotechnology
  • Health Care
  • Software
  • E-Commerce
  • Medical

Hillhouse Capital Group appeared to be the VC, which was created in 2005. The main office of represented VC is situated in the Changyang. The company was established in Asia in China.

Moreover, a startup needs to be at the age of 4-5 years to get the investment from the fund. Among the most popular portfolio startups of the fund, we may highlight, Airbnb, iQiyi. We can highlight the next thriving fund investment areas, such as Medical, Health Care. For fund there is a match between the location of its establishment and the land of its numerous investments - China. The fund has specific favorite in a number of founders of portfolio startups. If startup sums 4 of the founder, the chance for it to be financed is low.

The typical case for the fund is to invest in rounds with 4-5 participants. Despite the Hillhouse Capital Group, startups are often financed by Sequoia Capital, Lilly Asia Ventures, Tencent Holdings. The meaningful sponsors for the fund in investment in the same round are Shunwei Capital, Qiming Venture Partners, Sirona Capital. In the next rounds fund is usually obtained by Temasek Holdings, IDG Capital, Sequoia Capital China.

This organization was formed by Zhang Lei. We also calculated 12 valuable employees in our database.

The important activity for fund was in 2018. Despite it in 2019 the fund had an activity. The usual things for fund are deals in the range of more than 100 millions dollars. Comparing to the other companies, this Hillhouse Capital Group performs on 7 percentage points less the average number of lead investments. The higher amount of exits for fund were in 2018. Speaking about the real fund results, this VC is 23 percentage points more often commits exit comparing to other organizations. The fund is constantly included in 13-24 investment rounds annually. The average startup value when the investment from Hillhouse Capital Group is more than 1 billion dollars.

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Related Funds

Funds investing in previous rounds
These funds often invest in the rounds preceeding the rounds of Hillhouse Capital Group:
Typical Co-investors
Hillhouse Capital Group is more likely to invest in rounds together with the following funds:
Funds investing in following rounds
These funds have a tendency to invest in the following rounds after Hillhouse Capital Group:

Funds with similar focus

Funds from China
Funds with similar focus located in China:
Funds with the same geo focus
Funds with similar geography of portfolio companies:
Funds doing lead investments
Funds with similar focus acting as lead investors:

Notable deals

CompanyIndustryRound SizeDateInvestorsLocation


28 Oct 2022 Dongcheng District, Beijing, China


3D Technology
Cloud Infrastructure
Web Design
$15M26 Sep 2022 Guangzhou, Guangdong, China

ILLA Cloud

06 Sep 2022 Beijing, Beijing, China


Artificial Intelligence
Machine Learning
Open Source
$60M24 Aug 2022 Shanghai, China

Jinjiang Electronics

$108M22 Aug 2022 Chengdu, Sichuan, China

Proton Bio

$80M19 Aug 2022 Suzhou, Jiangsu, China


Big Data
Data Visualization
Enterprise Software
Productivity Tools
$15M26 Jul 2022 Shanghai, Shanghai, China


Health Care
$77M22 Jul 2022 Shuangliu, Sichuan, China


Industrial Automation
Industrial Manufacturing
$89M29 Jun 2022 Minhang, Shanghai, China
VanMoof raises $128 million to become the world’s leading e-bike brand

– Amsterdam-based startup VanMoof has raised a $128m Series C funding round.
– The company designs and sells electric bikes that are quite popular in some markets.
– It now wants to become the world’s leading e-bike brand by iterating at a faster pace.
– Asia-based private equity firm Hillhouse Investment is leading the round, with Gillian Tans, the former CEO of, also participating.
– Some existing investors also put some more money on the table, such as Norwest Venture Partners, Felix Capital, Balderton Capital and TriplePoint Capital.
– Overall, if you add it all up, the startup has raised $182m in total.

Direct-to-consumer orthodontic startup Impress raises $50M to scale across Europe

– Impress, a Southern European player in direct-to-consumer orthodontics, has raised a $50m Series A funding round.
– The round was led by CareCapital (a dental division of Hillhouse Capital in Asia), along with Nickleby Capital, UNIQA Ventures and investors including Michael Linse, Valentin Pitarque, Peter Schiff, Elliot Dornbusch and others.
– All existing shareholders, such as TA Ventures and Bynd VC, also participated.
– Impress is an homage to the direct-to-consumer startups in this area in the U.S., such as SmileDirect, and now plans to scale across Europe from its existing bases in Spain, Italy, Portugal, the U.K. and France.


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