# Hillhouse Investment

> Hillhouse Investment is a VC fund backing Biotechnology and Health Care. See 331 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Changyang, China
- Total investments: 331
- Last investment: Mar 2025
- Lead investor: 38%
- Fund size: $11B
- Last fund: Jul 2018
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/hillhouse-capital-management
- Website: http://www.hillhousecap.com
- Facebook: https://www.facebook.com/hillhousecapital

Hillhouse Investment is a VC fund in Changyang focused on Biotechnology and Health Care. Founded in 2005, Hillhouse is a leading global investment management firm, active across public equity, private equity, real estate and private credit. The firm invests over a long-term horizon and partners with exceptional entrepreneurs to deliver sustainable value creation for quality companies.Hillhouse is a full life-cycle private equityfirm, investing for the long term across opportunities in the healthcare, business services, consumer, and industrials sectors. The firm manages capital on behalf of global institutions such as non-profit foundations, endowments, and pensions.

## Contacts

5 contacts available for Hillhouse Investment. Shizune tracks 10 team members at Hillhouse Investment. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/hillhouse-capital?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $2.9M–$157M |
| Series B | $15M–$230M |
| Series C | $15M–$220M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Biotechnology | 56 | 17% |
| Health Care | 46 | 14% |
| Software | 39 | 12% |
| Medical | 35 | 11% |
| Manufacturing | 35 | 11% |

222 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series B | 83 | 25% |
| Series A | 73 | 22% |
| Series C | 46 | 14% |
| Seed | 30 | 9% |
| Series D | 22 | 7% |

14 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| China | 210 | 63% |
| United States | 24 | 7% |
| Singapore | 7 | 2% |
| India | 5 | 2% |
| Hong Kong | 5 | 2% |

18 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Zhang Lei | Chairman, Founder, CEO | 4 | https://shizune.co/investors/profile/zhang-lei |
| David Rhee | Partner | 16 | https://shizune.co/investors/profile/david-rhee |
| Ed Zhang | Venture Partner, HH Bioventure | 0 | https://shizune.co/investors/profile/ed-zhang-65b8 |
| Huang Liming | Partner | 9 | https://shizune.co/investors/profile/huang-liming-2cc2 |
| Li Qiang | Operating GM | 6 | https://shizune.co/investors/profile/li-qiang-6a7f |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Vita Dynamics | Vita Dynamics involves learning through real-world interactions by developing robots that can physically engage with their environment, they can adapt more naturally and efficiently. | $13.8M | Seed | Mar 21, 2025 |  |
| NeueHCT | Horizon Continental Technology is a joint venture between Continental Group and Horizon Robotics |  | Angel | Mar 12, 2025 |  |
| Sainte | Sainte is a company which provides professional nutritional solutions for babies with different nutritional needs | $54.9M | Series B | Feb 27, 2025 |  |
| ZJeagles Comsemi | ZJeagles Comsemi is the designer and producer of optical communication chips designed for data centers and other industrial applications. | $41.4M | Series B | Jan 24, 2025 |  |
| Vita Dynamics | Vita Dynamics involves learning through real-world interactions by developing robots that can physically engage with their environment, they can adapt more naturally and efficiently. | $13.8M | Seed | Jan 22, 2025 |  |
| dinii | Dinii is a mobile order platform for take-out shops. | $51.5M | Series B | Sep 25, 2024 |  |
| Ascentium | Ascentium emphasizes innovation, support, and strategic guidance and it focus on enabling success and prosperity. |  | Seed | Sep 24, 2024 |  |
| Xingmai Innovation | Xingmai Innovation creates, develops, and sells intelligent swimming pool cleaning robots. |  | Series A | Sep 19, 2024 |  |
| Third Arc Bio | Third Arc Bio is a biotech company developing multifunctional antibodies for inflammatory and immunology diseases. Its drug development engine delivers superior biologics optimized to create T-cell engagement by leveraging two technologies that power a pipeline of high-value therapeutics – a solid tumor synergy platform and an I&I platformthat offers a novel approach to precision immune regulation at a tissue-specific level to achieve superior efficacy and safety. | $165M | Series A | Jul 23, 2024 |  |
| Xiaohongshu | Xiaohongshu is a lifestyle-sharing platform for users to share positive energy and good life through the sharing of text, pictures, and videos. Xiaohongshu offers an overseas shopping tip app. Xiaohongshu started its business by helping overseas travelers to draft a shopping list before they hit the roads. But with the aggregation of more UGCcontent, the service is transforming into a community for those who are passionate about fashion and shopping and want to know more about these fields even though they do not have overseas traveling plans on their schedules. |  | Secondary Market | Jul 11, 2024 |  |

10 of 331 investments shown.

## Co-investors
- [Hillhouse Investment](https://shizune.co/investors/profile/hillhouse-investment) — VC Fund, 192 deals together
- [HSG](https://shizune.co/investors/profile/sequoia-capital-china) — VC Fund, 36 deals together
- [IDG Capital](https://shizune.co/investors/profile/idg-capital-partners) — VC Fund, 32 deals together
- [Tencent](https://shizune.co/investors/profile/tencent) — VC Fund, 23 deals together
- [Source Code Capital](https://shizune.co/investors/profile/source-code-capital) — VC Fund, 20 deals together
- [HSG](https://shizune.co/investors/profile/hsg-cap) — VC Fund, 17 deals together

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## FAQ

### What does Hillhouse Investment invest in?

Hillhouse Investment invests primarily in Biotechnology, Health Care and Software startups, most often at Series B and Series A stage. Most of the 331 investments tracked by Shizune back companies in China. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Hillhouse Investment's check size?

Hillhouse Investment typically joins rounds of $2.9M–$157M at Series A, $15M–$230M at Series B and $15M–$220M at Series C. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Hillhouse Investment participates in.

### How do I contact Hillhouse Investment?

Public channels for Hillhouse Investment include LinkedIn, the website linked on this profile and Facebook. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Hillhouse Investment?

The team at Hillhouse Investment includes Zhang Lei (Chairman, Founder, CEO), David Rhee (Partner) and Ed Zhang (Venture Partner, HH Bioventure), among 10 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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