China’s Long Hill Capital closes third USD fund at over $300m

Healthcare-focused Chinese venture capital firm Long Hill Capital on Tuesday announced that it has secured over $300 million for its third USD-denominated fund.

The vehicle will primarily make early-stage investments in healthcare and longevity companies, along with select growth-stage bets. The fundraising takes the Chinese VC’s total committed capital to about 6 billion yuan ($800 million), it said in a statement.

Long Hill Capital had closed its second USD fund at $265 million in 2018.

The latest fund, which is Long Hill’s largest to date, received capital commitments from global pensions, endowments, foundations, financial institutions, family offices and funds of funds.

Within its target sectors, the firm focuses on the themes of healthcare services, technology, enabling infrastructure, consumer wellness and health, and new ageing.

“By 2050, nearly 50% of Chinese will be over the age of 50. Today, China’s infrastructure for both healthcare and longevity costs too much and delivers too little,” said Long Hill Capital managing partner Xiaodong Jiang, who previously served at New Enterprise Associates (NEA).

Based in Shanghai and Beijing, Long Hill Capital has invested over $150 million in 34 startups in the last 18 months. Its portfolio includes speech and language therapy developer Orient Speech Therapy, digital health unicorn LinkDoc Technology, online hospital inCarey, traditional Chinese medicine services provider GST Clinics.

Long Hill portfolio company Hygeia Healthcare, an oncology treatments specialist, went public in Hong Kong in June 2020. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.