# Hillhouse Ventures

> Hillhouse Ventures is a VC fund in Singapore backing Manufacturing and Biotechnology. See 77 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Singapore, Singapore
- Total investments: 77
- Last investment: Jul 2026
- Lead investor: 44%
- Last updated: Aug 2026

Hillhouse Ventures is a VC fund in Singapore focused on Manufacturing and Biotechnology. Hillhouse Venture Capital is an investment institution established by Hillhouse Capital that focuses on investing in early-stage startups.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $10M–$120M |
| Series A | $10M–$85M |
| Series B | $14M–$99M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Manufacturing | 18 | 23% |
| Biotechnology | 15 | 19% |
| Health Care | 14 | 18% |
| Robotics | 10 | 13% |
| Medical | 8 | 10% |

70 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 26 | 34% |
| Series B | 16 | 21% |
| Seed | 11 | 14% |
| Angel | 5 | 6% |
| Series C | 5 | 6% |

10 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| China | 58 | 75% |
| Singapore | 2 | 3% |
| Norway | 1 | 1% |
| Hong Kong | 1 | 1% |
| United States | 1 | 1% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Deepin Technology | Deepin Technology is a company that utilizes artificial intelligence, quantum chemistry, and high-throughput experiment technologies to enhance the efficiency and workflow of chemical material innovation. it offers efficient R&D solutions for chemical materials, aiming to solve lab bottlenecks, promote innovative research, and enhance customervalue. |  | Series A | Jul 14, 2026 |  |
| kaye technology | Kaye Technology is a company that provides automation upgrade solutions for beverage equipment. | $58.9M | Series B | Jun 29, 2026 |  |
| Yatsen Holding | Yasten provides high-quality fashion makeup products. | $120M | Post-IPO Debt | Mar 11, 2026 |  |
| Unbounded Dynamics | Unbounded Dynamics is a robotics and embodied intelligence startup focused on developing foundational AI “brains” and operational intelligence for robots and autonomous systems aimed at industrial and B-end scenarios. It works on the coordination of perception (“eyes”), manipulation (“hands”), and decision-making (“brain”) in physical robots bybuilding general basic models and expert system integrations as part of a hardware-software architecture to enable continuous iterative evolution of embodied intelligence. | $42.1M | Seed | Nov 10, 2025 |  |
| Hecheng New Materials Technology | Hecheng New Materials Technology is a manufacturing company offering bearing electrical corrosion and electrical insulation solutions. |  | Venture - Series Unknown | May 16, 2025 |  |
| TARS | Zhihang Zhong is a prominent researcher in the field of artificial intelligence, particularly known for his work on integrating spatial perception and reasoning into AI systems. |  | Angel | Mar 26, 2025 |  |
| TARS | Zhihang Zhong is a prominent researcher in the field of artificial intelligence, particularly known for his work on integrating spatial perception and reasoning into AI systems. | $120M | Seed | Mar 26, 2025 |  |
| Deepin Technology | Deepin Technology is a company that utilizes artificial intelligence, quantum chemistry, and high-throughput experiment technologies to enhance the efficiency and workflow of chemical material innovation. it offers efficient R&D solutions for chemical materials, aiming to solve lab bottlenecks, promote innovative research, and enhance customervalue. | $13.8M | Seed | Mar 19, 2025 |  |
| Xinyanyi Code | Xinyanyi Code is an artificial intelligence programming application service provider that focuses on AI Coding and benchmarks the American intelligent code generation product Cursor. |  | Series A | Jan 10, 2025 |  |
| LiNeng Times | LiNeng Times is a technology company that involves in the production, sales & services of the core components of X-ray imaging systems. |  | Series A | Jan 07, 2025 |  |

10 of 77 investments shown.

## Co-investors
- [Hillhouse Investment](https://shizune.co/investors/profile/hillhouse-capital) — VC Fund, 6 deals together
- [Linear Capital](https://shizune.co/investors/profile/linear-capital) — VC Fund, 6 deals together
- [Qiming Venture Partners](https://shizune.co/investors/profile/qiming-venture-partners) — VC Fund, 6 deals together
- [Legend Capital](https://shizune.co/investors/profile/legend-capital) — VC Fund, 5 deals together
- [CICC Capital](https://shizune.co/investors/profile/cicc-capital) — VC Fund, 4 deals together
- [GL Ventures](https://shizune.co/investors/profile/gl-ventures) — VC Fund, 4 deals together

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## FAQ

### What does Hillhouse Ventures invest in?

Hillhouse Ventures invests primarily in Manufacturing, Biotechnology and Health Care startups, most often at Series A and Series B stage. Most of the 77 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 Ventures's check size?

Hillhouse Ventures typically joins rounds of $10M–$120M at Seed, $10M–$85M at Series A and $14M–$99M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Hillhouse Ventures participates in.

### When did Hillhouse Ventures last invest?

The most recent investment recorded for Hillhouse Ventures closed in Jul 2026. Shizune tracks 77 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### 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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