Fundraising FoxHillhouse Capital
Private equityChangyang · Seed–Series C · 7 people tracked
Also known as Hill House
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Investment thesis
Hillhouse invests globally in high-quality businesses with the aim of building companies that endure over the long term. Its approach centers on alignment, quality, and sustainability, prioritizing business fundamentals and deep industry insight over short-term gains. The firm emphasizes rigor, patience, and expertise, using research to identify emerging trends and anticipate future needs. Hillhouse works closely with strong management teams, believing that quality leadership and alignment underpin investment success. It targets sectors including healthcare, industrials, energy transition, business services, and consumer, supporting both traditional and evolving businesses in creating lasting value for stakeholders.
Source: firm website, verified Jul 31, 2026.
Team · 7 people
from public directoriesWhat they invest in
from 26 of 30 portfolio companiesAI & Machine Learning ×13SaaS ×9Enterprise Software ×8Biotech ×5Deep Tech ×5Hardware ×5Developer Tools ×4E-commerce ×4
HQs:China×11United States×6Canada×1Indonesia×1India×1Italy×1
Investments · 30 tracked
founders shown can be your intro pathBy year:2026 · 12025 · 12024 · 12022 · 12021 · 12020 · 22019 · 42018 · 42015 · 116 dated
Airbnb is an online marketplace that enables people to book and list accommodations for short-term rentals, experiences, and services around the world.
ConsumerMarketplacesTravel & HospitalitySan Francisco, US
Brian Chesky(CEO)inNathan Blecharczyk(CTO)inJoe Gebbia(CPO)inBelinda Johnson(Executive Officer)inLaurence Tosi(Chief Financial Officer)inAndrew Swain(Executive Officer)in
Co-investors137 VenturesA.Capital VenturesA*ACME CapitalAglae VenturesAlign Ventures+78 more
Gossamer Bio is a clinical-stage biopharmaceutical company developing seralutinib, an investigational drug candidate for treating pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.
BiotechDigital HealthMedical DevicesSan Diego, US
Faheem Hasnain(Executive Officer, Director)inChristian Waage(Executive Officer)inSheila Gujrathi, MD(Founder)inBryan Giraudo(Executive Officer)Laura Carter, Ph.D.(Executive Officer)Robert Smith(Executive Officer)
Co-investorsARCH Venture PartnersBay City CapitalEcoR1 CapitalFoothill VenturesNew Enterprise Associates (NEA)Pivotal Life Sciences+3 more
Fxiaoke is a CRM platform and cloud service provider that builds Agentic CRM systems for mid-to-large enterprises in China.
AI & Machine LearningEnterprise SoftwareSaaSSales TechBeijing, CN
罗旭(Founder and CEO)Luo Xu(Founder)
Co-investorsQiming Venture PartnersDCMIDG CapitalDCM Ventures
Galaxea AI provides a platform for developing embodied AI systems, offering data collection, quality assurance, model post-training, and deployment tools for robotics developers.
AI & Machine LearningDeep TechDeveloper ToolsHardwareRoboticsBeijing, CN
Co-investorsBaidu VenturesIDG CapitalCathay InnovationXiang He Capital
Huice is a cloud-based SaaS provider of integrated intelligent retail solutions that helps retail enterprises upgrade their digital and smart operations.
AI & Machine LearningE-commerceEnterprise SoftwareLogistics & Supply ChainRetail TechSaaSBeijing, CN
Co-investorsGICSoftBank Vision Fund
A robotic process automation (RPA) platform that automates desktop applications, web interfaces, mobile apps, and business processes through workflow recording, task scheduling, and AI integration.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareSaaS
Co-investorsCoatue ManagementGGV CapitalGoldman Sachs
Luok客 (Loock) develops smart locks and home security solutions centered on finger vein recognition technology, serving residential users across China and international markets.
HardwareIoTPropTechBeijing, CN
Co-investorsShunwei CapitalBaiduBaidu VenturesBlueprint Ventures Pte. Ltd.
Zhichi provides an integrated AI-powered customer contact center platform combining chatbots, voice agents, call center systems, and human customer service across multiple channels including WhatsApp for global enterprises.
AI & Machine LearningEnterprise SoftwareSaaSBeijing, CN
Co-investorsIDG CapitalYunqi Partners
XVERSE Technology develops large language models (including the long-context XVERSE-Long-256K) and 3D content generation and rendering technologies, offering products such as an AI interactive reading app and immersive 3D experiences for uses like virtual house viewing, tourism, and marketing.
AI & Machine LearningDeep TechGamingShenzhen, CN
Forrest Yao(Founder)
Co-investorsCPENotable CapitalSequoia CapitalTemasek5Y Capital
Aridge develops flying cars, including the Land Aircraft Carrier (a modular flying vehicle) and the A868, a high-speed, long-range full tilt-rotor flying car.
Deep TechHardwareMobility & Transportation
Co-investorsGranite AsiaGaorong VenturesGL VenturesHongShan Capital Group
Imviva is a clinical-stage biotechnology company developing allogeneic CAR-T cell therapies for oncology and autoimmune diseases.
BiotechDeep TechHealthtechMedical Devices
Jiangtao Ren(Chief Scientific Officer)Lu Han(Chief Executive Officer)Yajin Ni(Chief Technology Officer)Jan Davidson(Chief Medical Officer)
Co-investorsDecheng CapitalGL VenturesShenzhen Capital Group
Bird provides messaging infrastructure for developers, offering SMS, email, voice, and real-time messaging APIs built and operated end-to-end.
AI & Machine LearningCloud ComputingDeveloper ToolsEnterprise SoftwareSaaSAmsterdam, NL
Robert Vis(CEO)inBob Violier(Distinguished Engineer)inJoey van Ommen(Head of Product \u0026 Partner)inAdriaan Mol(Founder)in
Co-investorsAccelAnthem Venture Management, LlcAtomicoBlue LionBlue Lion GlobalGlynn Capital Management+14 more
CRED is a members-only app for credit card users in India that rewards timely bill payments with offers and premium experiences, and lets members manage multiple cards while tracking spending and credit scores.
ConsumerFintech
Kunal Shah(Founder)in
Co-investorsAlpha Wave GlobalAroa Venture PartnersCoatue ManagementFlucas VenturesGeneral CatalystICONYC labs+14 more
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CRED is a predictive intelligence platform that unifies organizational signals from revenue, talent, product, operations, and finance to predict outcomes 60-90 days in advance and guide enterprise decision-making.
AI & Machine LearningData & InfrastructureEnterprise Software
Jon Carr-Harris(Founder)in
Co-investorsAlumni VenturesGandel InvestStreamlined VenturesDragoneer Investment GroupGeneral CatalystGreenoaks+3 more
Hong Kong-listed (HKEX: 2616) Chinese biopharmaceutical company developing oncology, immunology and inflammation therapies.
Co-investorsARCH Venture Partners6 Dimensions CapitalBoyu CapitalGICSequoia CapitalWuXi Healthcare Ventures
HiberCell develops therapeutic candidates targeting the Integrated Stress Response pathway to address treatment-resistant cancers, relapse, and metastasis.
BiotechMedical Devices
Julio Aguirre-Ghiso, Ph.D.(Co-Founder)Steven Gillis, Ph.D.(Chairman & Acting CEO)
Co-investorsARCH Venture PartnersMagnetic VenturesRaptor Group6 Dimensions CapitalHercules Capital, Inc.
Huolala is a logistics platform that integrates social transportation resources to provide same-city and cross-city freight services, household moving, less-than-truckload shipping, and ancillary services.
AI & Machine LearningB2B MarketplacesLogistics & Supply ChainMarketplacesMobility & TransportationShenzhen, CN
Co-investors01vcShunwei CapitalXiang He CapitalSequoia Capital
A logistics company providing end-to-end supply chain services for food and consumer goods, from production to last-mile delivery, with focus on cold chain networks and supply chain digitalization through data analytics and automation.
B2B MarketplacesConstruction TechData & InfrastructureE-commerceEnterprise SoftwareFoodTechLogistics & Supply ChainSaaS
Co-investorsHongShan Capital GroupHundreds CapitalSoftBank Vision FundChina Structural Reform FundTencent Holdings
Home decor and renovation services portal providing design tools, visualization, and knowledge base powered by big data and AI
Chen Hang(Founder)Huang Xiaohuang(Founder)Zhu Hao(Founder)
Co-investorsCoatue ManagementShunwei CapitalGGV CapitalGranite AsiaHongShan Capital GroupMatrix Partners China
Lingxing provides an ERP system that integrates cross-border e-commerce operations with financial management, enabling sellers to track profitability, allocate costs by product, and automate financial reporting.
E-commerceFintechLogistics & Supply ChainRetail TechSaaSShenzhen, CN
Co-investorsXiang He CapitalBlue Lake CapitalEastern Bell CapitalShunwei CapitalSource Code Capital
Million provides AI coding tools that verify code correctness and performance, targeting developers building web applications.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareSan Francisco, US
Aiden Bai(CEO)inNisarg Patel(Founder)inJohn YangRay Arayilakath(Recruiter)Isabelle Reksopuro(Recruiter)
Co-investorsY CombinatorHawk Hill VenturesCostanoa Ventures
Data-driven intelligent HR SaaS product for enterprises, covering recruitment channels, talent pools and analytics.
Singapore, SG
Orion Zhao(Founder)inGuoxing Li(Founder)in
Co-investorsBlue Lake CapitalXiang He CapitalEast VenturesGGV CapitalGSR VenturesSequoia Capital
Moka.ai operates a licensed brokerage with a built-in decision layer that records the reasoning, confidence level, and time horizon behind each investment, then scores those decisions against outcomes and benchmarks the portfolio against the S&P 500.
AI & Machine LearningFintechSaaS
Co-investorsFerst Capital PartnersEast VenturesGGV CapitalGSR VenturesSequoia Capital
Moka is an Indonesian SaaS company that provides a cloud-based point-of-sale (POS) system and digital cash register application for small and medium businesses.
E-commerceFintechRetail TechSaaSNot stated, ID
Co-investorsAC VenturesWavemaker PartnersEast VenturesGGV CapitalGSR VenturesSequoia Capital
San Diego DNA sequencing company behind the Sequencing by Binding short-read platform; acquired by Pacific Biosciences in 2021.
BiotechSan Diego, US
David S. Mullarkey(Executive Officer, Director)Arnold Oliphant(Executive Officer)inKen Song, M.D., Ph.D.(Executive Officer, Director)Kelly Perez(Executive Officer)John Murphy, Ph.D.(Executive Officer)Millard Y Chan(Chief Operating Officer, Secretary and Director)
Co-investorsARCH Venture PartnersATEL VenturesDCVC (Data Collective)Decheng CapitalLam CapitalPivotal Life Sciences+3 more
Silicon Box develops chiplet architecture and semiconductor technologies for advancing frontier technologies.
Deep TechHardwareSemiconductorsNovara, IT
Dr. SutardjaDr. HanWeiliByung Joon Han(Founder)Sehat Sutardja(Founder)Weili Dai(Founder)
Co-investorsInnoVen CapitalLam CapitalPrysm CapitalTDK VenturesUMC CapitalAres+1 more
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Hong Kong-listed, Suzhou-headquartered biopharmaceutical company developing antibody therapeutics with in-house biomanufacturing.
Suzhou, CN
Xueming Qian(Executive Director, Chairman and CEO)in
Co-investorsARCH Venture PartnersChina Structural Reform FundFortune Venture CapitalLilly Asia VenturesQatar Investment AuthorityTemasek
Zilliz provides Zilliz Cloud, a managed vector database and "vector lakebase" built by the creators of Milvus, offering real-time serving, iterative discovery, and batch analytics on a single data source at large scale.
AI & Machine LearningCloud ComputingData & InfrastructureRedwood City, US
Charles Xie(CEO)in
Co-investorsBeyond VenturesProsperity7 Ventures5Y CapitalTrustbridge PartnersYunqi Partners
XPENG develops smart electric vehicles, including AI-powered SUVs and coupes, along with related mobility technology spanning road and air travel.
AI & Machine LearningHardwareMobility & Transportation
Xiaopeng He(Founder)in
Co-investorsCoatue ManagementEast West Ventures EWVGranite AsiaPrimavera Venture Management LimitedShunwei CapitalWelight Capital+5 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Exits · 6
5 IPOs · 1 acquisitions · showing 2AirbnbNASDAQ: ABNBGossamer BioNASDAQ: GOSS
Portfolio news
latest coverage across their companies
Airbnb · news.airbnb.com · Sep 14, 2026
Fund performance · per public LP disclosures
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Hillhouse Focused Growth VLPs: South Carolina Retirement System Investment Commission, John D. and Catherine T. MacArthur Foundation | 2021 | — | 10.3% | — | — |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has Hillhouse Capital made?
- Hillhouse Capital has 30 tracked investments, 6 of which have exited, including 2 dated in the last 24 months.
- What stage does Hillhouse Capital invest at?
- Hillhouse Capital invests at the Seed, Series A, Series B, Series C stages.
- What is Hillhouse Capital's typical check size?
- Hillhouse Capital typically writes checks of $500K.
- What sectors does Hillhouse Capital focus on?
- Hillhouse Capital focuses on Advanced Manufacturing, Biotech, Consumer, Energy, Healthtech, SaaS.
- Where is Hillhouse Capital located?
- Hillhouse Capital is headquartered in Changyang, CN.
- Does Hillhouse Capital lead rounds?
- Yes, Hillhouse Capital leads investment rounds.
Media · Podcasts & interviews
from their channelSiddhartha Hari and Shirish Apte on the topic of India: Emergence of the Digital Payments Powerhouse
Hillhouse Investment
The Challenges to Long termism in Global Investment with Mark Wiseman & Sean Carney
Hillhouse Investment
Lei Zhang, Chairman & Founder of Hillhouse Investment at Global Financial Leaders’ Summit, 2023
Hillhouse Investment
The Next Phase of Private Equity for Institutional Investors with Theresa Whitmarsh & Adam Hornung
Hillhouse Investment
Hillhouse’s Tracy Ma on the firm’s history and what makes it unique
Hillhouse Investment
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