# Zhang Lei

> Zhang Lei is a private equity investor at Hillhouse Investment backing Software and Big Data. See 4 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Hillhouse Investment](https://shizune.co/investors/profile/hillhouse-capital)
- Location: Changyang, China
- Total investments: 4
- Lead investor: 50%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/zhang-lei-9b4a32171
- Website: http://www.hillhousecap.com/our-people/zhang-lei/

Zhang Lei is a private equity investor at Hillhouse Investment in Changyang focused on Software and Big Data. Zhang Lei is the Founder, Chairman, and Chief Executive Officer of Hillhouse Capital Group. Zhang Lei attended the Renmin University of China.

## Round sizes

| Stage | Round size |
| --- | --- |
| Private Equity | $103M–$223M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 2 | 50% |
| Big Data | 1 | 25% |
| Database | 1 | 25% |
| Analytics | 1 | 25% |
| Nutrition | 1 | 25% |

17 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Private Equity | 2 | 50% |
| Pre-Seed | 1 | 25% |
| Series B | 1 | 25% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| China | 2 | 50% |
| United States | 2 | 50% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Zilliz | Zilliz was founded in 2017 and operates as a distributed team with offices in both the U.S. and China. The company specializes in the development of open-source, AI-powered unstructured data analysis software, and is the initiator and primary contributor to the vector similarity search project Milvus. Milvus was released under an open-sourcelicense in October 2019. It has been “starred” over 4,400 times on GitHub and engaged 120+ contributors. Milvus has been adopted by 400+ enterprise users, with applications spanning image processing, computer vision, natural language processing (NLP), speech recognition, recommendation engines, search engines, new drug development, gene analysis, and more. In April 2020, Milvus became an incubation-stage project at the LF AI & Data Foundation, and currently has more commits than any other project in the incubator. | $43M | Series B | Nov 16, 2020 |  |
| Ancient Nutrition | Ancient Nutrition's mission is to restore our health, strength, and vitality by providing healthiest whole food nutrients to the modern world. The company's products include Bone Broth Protein, Multi Collagen Protein, Essential Oils, and Keto products, enabling customers to restore their health, strength, and vitality by providing healthywhole food nutrients to the modern world in a convenient form. | $103M | Private Equity | Mar 08, 2018 |  |
| Vets First Choice | Vets First Choice provides veterinary practices with an online pharmacy and home delivery services. It partners with veterinarians to create insight into gaps in patient care and offer professionalized pro-active prescription management to drive client engagement and improve compliance. The company was founded by Ben Shaw in 2010 and is based inPortland, Maine. | $223M | Private Equity | Jul 19, 2017 |  |
| Yimian Data | Yimian Data provides artificial intelligence, data analysis, and business consulting services. They have developed the methodology and successful experience of solving typical problems into several sets of service packages that can be implemented quickly. Yimian was acquired by Ascential plc in 2020, and now is part of Flywheel, an Omnicom company. | $1M | Pre-Seed |  |  |

4 of 4 investments shown.

## Co-investors
- [Hillhouse Investment](https://shizune.co/investors/profile/hillhouse-capital) — VC Fund, 3 deals together
- [Cambridge Companies](https://shizune.co/investors/profile/cambridge-companies-2) — VC Fund, 1 deal together
- [CD&R LLP](https://shizune.co/investors/profile/clayton-dubilier-rice) — VC Fund, 1 deal together
- [ICONIQ Capital](https://shizune.co/investors/profile/iconiq-capital) — VC Fund, 1 deal together
- [5Y Capital](https://shizune.co/investors/profile/morningsidevc) — VC Fund, 1 deal together
- [Pavillion Capital](https://shizune.co/investors/profile/pavillion-capital) — VC Fund, 1 deal together

## About Hillhouse Investment

VC Fund · Changyang, China

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.

5 contacts available at Hillhouse Investment.

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

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## FAQ

### What does Zhang Lei invest in?

Zhang Lei invests primarily in Software, Big Data and Database startups, most often at Private Equity and Pre-Seed stage. Most of the 4 investments tracked by Shizune back companies in China. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Zhang Lei's check size?

Zhang Lei typically joins rounds of $103M–$223M at Private Equity. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Zhang Lei participates in.

### 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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