Long Hill Capital, a venture capital firm in China, closed on over $300M for its third fund.
Investors in Fund 3, which brought the firm’s total committed capital to nearly $800M over its 4-year history, included pension funds, endowments, foundations, financial institutions, family offices and fund of funds.
The new fund, Long Hill’s largest to date, will be invested across a broad range of healthcare and longevity sectors. Consistent with the firm’s strategy over the previous two funds, the majority of capital will be concentrated in early-stage opportunities with select growth-stage investments.
Founded in 2016, Long Hill Capital is a thesis-driven venture capital firm with offices in Shanghai and Beijing. Over the past 18 months alone, Long Hill Capital has invested over $150M across 34 innovative healthcare and longevity startups. During the same period, Long Hill portfolio companies have also completed more than $750M in follow-on financings led by later stage investors such as Hillhouse, Alibaba and ByteDance. In June 2020, Hygeia Healthcare (6078.HK) became the first portfolio company to complete a public offering.