Long Hill Capital, a venture capital firm in China, has closed on over $300M for its third fund on March 15. Investors in Fund 3 include global pensions, endowments, foundations, financial institutions, family offices and fund of funds. Over the past 18 months, Long Hill Capital has invested over $150M across 34 healthcare and longevity startups.
Xiaodong Jiang, managing partner at Long Hill, said, “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. At Long Hill, our goal is to help build next generation franchise companies that will enable China’s soon-to-be 400 million seniors to afford a healthy and happy life, despite our still significant gap in per capita income compared to developed countries. We are focused thesis investors. By concentrating on key verticals, we are able to spot exciting opportunities earlier and become better partners to entrepreneurs.”
“Xiaodong led the first outside investment in Hygeia more than a decade ago shortly after we founded the company. He and Long Hill again became our last private round investor leading up to the IPO,” notes Yiwen Zhu, founder of Hygeia Healthcare Holdings. “In the 10 years we have worked closely together, I have never ceased to be impressed with his gift of foresight, power of conviction and the relentless drive to win.”
Kirkland & Ellis advised Long Hill Capital.