Hillhouse Investment

Hillhouse Investment Management, Ltd. is a private equity firm founded in 2005 by Zhang Lei, with a focus on long-term investments across various stages, from seed funding to buyouts and public equities. The firm operates globally, emphasizing opportunities in Asia, and invests primarily in sectors such as consumer goods, technology, media, telecommunications, healthcare, and advanced manufacturing. In the healthcare space, Hillhouse particularly targets biotechnology, medical devices, and pharmaceuticals. Its investment strategy is characterized by a stage-agnostic approach, allowing for continued investment in companies as they progress from startups to established public entities. Hillhouse is headquartered in Central, Hong Kong, with additional offices in Beijing and New York, and operates as a subsidiary of Hillhouse Capital Group Limited.

Zhang Lei

Founder and Chief Executive Officer

Hong Liang

Partner

Jonathan Lui

Senior Associate, Investor Relations

Katie Lyndon

Executive Director, Investor Relations

Past deals in Hong Kong

Harmay

Series D in 2022
Beijing Harmay Lexiang Technology Co., Ltd. manufactures and sells cosmetics and skin care products. The company distributes skin and beauty care products of other brands, such as ICONIC LONDON, dermalogica, BOTANIST, and SG79|STHLM. It sells its products through its stores in Shanghai, Beijing, and Chengdu, China; and Hong Kong. Beijing Harmay Lexiang Technology Co., Ltd. was founded in 2013 and is based in Beijing, China.

Great Bay Bio

Series A in 2021
Great Bay Bio Ltd. engages in research and development for drug discovery and provides contract research services by applying AI technology on CMC (Chemistry, Manufacturing, Control) platform for drug development. The company also engages in research, development, and manufacturing protein sequence products, including recombinant insulin-stimulating hormone and fusion protein. The company was founded in 2002 and is based in Central, Hong Kong.

Innocare

Post in 2021
InnoCare Pharma Limited is a biopharmaceutical company focused on developing innovative treatments for cancer and autoimmune diseases. Founded in 2015 and headquartered in Wanchai, Hong Kong, InnoCare operates additional offices in major cities across China and in Cambridge, Massachusetts. The company is advancing several clinical programs, including Orelabrutinib, which targets various B-cell malignancies and is currently undergoing registrational trials. It is also developing ICP-192, a pan-inhibitor of fibroblast growth factor receptor, and ICP-105, which targets FGFR4 in advanced hepatocellular carcinoma. InnoCare's preclinical pipeline includes promising candidates aimed at treating specific cancer types and autoimmune disorders. The firm is supported by a highly qualified scientific team and a specialized advisory board, reinforcing its commitment to pushing the boundaries of drug innovation and improving patient outcomes.

Lalamove

Series F in 2021
Originally known as EasyVan, Lalamove was launched to satisfy a specific logistical need - van hire. Started in Hong Kong in December 2013, Lalamove operates in 21 markets across Asia and Latin America connecting over 7 million customers with a pool of over 700,000 driver-partners. The Lalamove way has revolutionized old van hiring call centers to being so streamlined, customers and drivers match with each other within 12 seconds. Local deliveries are fulfilled at a breakneck 55 minutes, door-to-door. Providing reliable and quick deliveries for customers, Lalamove also optimises drivers fleet and route to maximise their earning potential.

Lalamove

Series E in 2020
Originally known as EasyVan, Lalamove was launched to satisfy a specific logistical need - van hire. Started in Hong Kong in December 2013, Lalamove operates in 21 markets across Asia and Latin America connecting over 7 million customers with a pool of over 700,000 driver-partners. The Lalamove way has revolutionized old van hiring call centers to being so streamlined, customers and drivers match with each other within 12 seconds. Local deliveries are fulfilled at a breakneck 55 minutes, door-to-door. Providing reliable and quick deliveries for customers, Lalamove also optimises drivers fleet and route to maximise their earning potential.

Zhaoke Ophthalmology Pharmaceutical

Series B in 2020
Zhaoke Ophthalmology Pharmaceutical is a Pharmaceutical platform.

Airwallex

Series D in 2020
Airwallex (Hong Kong) Limited offers money changing and remittance service for customs and excise duty department. The company is based in Quarry Bay, Hong Kong.

Harmay

Series A in 2019
Beijing Harmay Lexiang Technology Co., Ltd. manufactures and sells cosmetics and skin care products. The company distributes skin and beauty care products of other brands, such as ICONIC LONDON, dermalogica, BOTANIST, and SG79|STHLM. It sells its products through its stores in Shanghai, Beijing, and Chengdu, China; and Hong Kong. Beijing Harmay Lexiang Technology Co., Ltd. was founded in 2013 and is based in Beijing, China.
Aier Eye Hospital Group Co., Ltd. operates eye care hospitals and institutions. The company offers surgery for myopia; prevention and control of myopia; and treatment for cataract, glaucoma, pediatric ophthalmology, eye disease, lacrimal disease, and corneal and ocular surface. It also provides eye plastic surgery. It has approximately 200 professional eye hospitals in 30 provinces of China, and branches in Hong Kong and the United States. The company is headquartered in Changsha, China.

Airwallex

Series C in 2019
Airwallex (Hong Kong) Limited offers money changing and remittance service for customs and excise duty department. The company is based in Quarry Bay, Hong Kong.

Lalamove

Series D in 2019
Originally known as EasyVan, Lalamove was launched to satisfy a specific logistical need - van hire. Started in Hong Kong in December 2013, Lalamove operates in 21 markets across Asia and Latin America connecting over 7 million customers with a pool of over 700,000 driver-partners. The Lalamove way has revolutionized old van hiring call centers to being so streamlined, customers and drivers match with each other within 12 seconds. Local deliveries are fulfilled at a breakneck 55 minutes, door-to-door. Providing reliable and quick deliveries for customers, Lalamove also optimises drivers fleet and route to maximise their earning potential.

Airwallex

Series B in 2018
Airwallex (Hong Kong) Limited offers money changing and remittance service for customs and excise duty department. The company is based in Quarry Bay, Hong Kong.

NIO

Series C in 2017
NIO Limited is a prominent player in the electric vehicle market, specializing in the design, manufacture, and sale of premium smart electric SUVs in various regions, including China, Hong Kong, the United States, the United Kingdom, and Germany. The company offers a range of models, including five, six, and seven-seater electric SUVs, and emphasizes user experience through innovative charging solutions and services. NIO provides several charging options, such as home charging solutions, battery swapping services, and mobile charging through dedicated trucks. In addition to vehicle sales, the company offers comprehensive after-sales services, including insurance, maintenance, roadside assistance, and data packages. NIO has formed strategic partnerships for the development of autonomous driving technologies and collaborates with manufacturers for model production. Founded in 2014 and headquartered in Shanghai, NIO aims to redefine the user experience in the electric vehicle sector while driving advancements in connectivity and artificial intelligence.

NIO

Series B in 2016
NIO Limited is a prominent player in the electric vehicle market, specializing in the design, manufacture, and sale of premium smart electric SUVs in various regions, including China, Hong Kong, the United States, the United Kingdom, and Germany. The company offers a range of models, including five, six, and seven-seater electric SUVs, and emphasizes user experience through innovative charging solutions and services. NIO provides several charging options, such as home charging solutions, battery swapping services, and mobile charging through dedicated trucks. In addition to vehicle sales, the company offers comprehensive after-sales services, including insurance, maintenance, roadside assistance, and data packages. NIO has formed strategic partnerships for the development of autonomous driving technologies and collaborates with manufacturers for model production. Founded in 2014 and headquartered in Shanghai, NIO aims to redefine the user experience in the electric vehicle sector while driving advancements in connectivity and artificial intelligence.

NIO

Series A in 2015
NIO Limited is a prominent player in the electric vehicle market, specializing in the design, manufacture, and sale of premium smart electric SUVs in various regions, including China, Hong Kong, the United States, the United Kingdom, and Germany. The company offers a range of models, including five, six, and seven-seater electric SUVs, and emphasizes user experience through innovative charging solutions and services. NIO provides several charging options, such as home charging solutions, battery swapping services, and mobile charging through dedicated trucks. In addition to vehicle sales, the company offers comprehensive after-sales services, including insurance, maintenance, roadside assistance, and data packages. NIO has formed strategic partnerships for the development of autonomous driving technologies and collaborates with manufacturers for model production. Founded in 2014 and headquartered in Shanghai, NIO aims to redefine the user experience in the electric vehicle sector while driving advancements in connectivity and artificial intelligence.