Venture capital firm
Hillhouse portfolio
hillhouseinvestment.comHillhouse is a venture capital firm based in Singapore, Singapore, founded in 2005. It has invested in 54 venture-backed companies across 59 funding rounds on VCMC, and led 24 of those rounds. 10 of them were in the last 12 months.
54
Venture-backed companies
in its portfolio on VCMC
59
Funding rounds
led 24
10
Last 12 months
rounds, Oct 2025 to Sep 2026
14
With a disclosed valuation
of 54 companies
$109.4B
Combined value of its private companies
the whole companies, not what Hillhouse owns
53 private companies Hillhouse has backed have a VCMC valuation; together they are worth $109.4B. That is the value of the whole companies, not what Hillhouse owns. DayOne is 16% of the total. 1 company it backed has since been acquired and is not included. How VCMC values companies.
Values cover private companies only; public companies are not included.
Portfolio
Hillhouse's most valuable portfolio companies
The 10 most valuable private companies Hillhouse has backed, by VCMC's valuation. Values cover private companies only; public companies are not included.
- 1 DayOne Data Solutions, Iskandar Puteri $17.1B range $10.0B – $26.1B Joined at Series A, 2024
- 2 Airwallex Payment Processing & Point of Sale, Singapore $12.0B range $9.6B – $16.7B Joined at Series B, 2018
- 3 Yuanfudao Learning, Tutoring & Courses, Chaoyang District $10.1B range $678M – $11.7B Led at Series G, 2020
- 4 Agile Robots Industrial Machinery & Supplies, Munich $8.5B range $5.4B – $13.7B Joined at Series A, 2019
- 5 JINGDONG Property Real Estate Investment, Yuexiu District $7.2B range $510M – $10.9B Led at Series B, 2022
- 6 Lalamove Shipping Couriers, Taipei $6.6B range $1.7B – $21.7B Led at Series D, 2019
- 7 CRED Payment Processing & Point of Sale, Mumbai $4.9B range $3.9B – $6.7B Joined at Series B, 2019
- 8 Office Spaces, Bengaluru $4.7B range $1.5B – $7.1B Led at Growth, 2022
- 9 Batteries, Düsseldorf $3.4B range $297M – $3.9B Joined at Series B, 2021
- 10 Kurly Groceries $3.3B range $287M – $3.8B Led at Series F, 2021
Portfolio
Full Hillhouse portfolio (54 companies)
54 companies. Load more shows the rest.
| # | Last round | History | Range | Trend | Grade | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | DayOne Data Solutions · since Series A, 2024 | Series C Jan 2026 $2.00B | $17.1B | $10.0B – $26.1B | $18.4B (+8%) | $2.3B | 0% | 1,337 | growing | B | |
| 2 | Lalamove Shipping Couriers · led at Series D, 2019 | Series F Jan 2021 $1.50B | $6.6B | $1.7B – $21.7B | $5.8B (-12%) | $2.4B | 59% | 7,163 | up | D | |
| 3 | CRED Payment Processing & Point of Sale · since Series B, 2019 | Series H Jun 2026 $900M | $4.9B | $3.9B – $6.7B | $5.8B (+19%) | $739M | 0% | 2,252 | up | A | |
| 4 | Airwallex Payment Processing & Point of Sale · since Series B, 2018 | Series H Jun 2026 $320M | $12.0B | $9.6B – $16.7B | $14.5B (+20%) | $1.8B | 0% | 2,937 | growing | A | |
| 5 | Agile Robots Industrial Machinery & Supplies · since Series A, 2019 | Growth Equity Jun 2026 $800M | $8.5B | $5.4B – $13.7B | $9.0B (+6%) | $880M | 0% | 569 | up | B | |
| 6 | Yuanfudao Learning, Tutoring & Courses · led at Series G, 2020 | Series G Mar 2020 $1.00B | $10.1B | $678M – $11.7B | $10.1B (0%) | $1.3B | 0% | 1,800 | unknown | D | |
| 7 | JINGDONG Property Real Estate Investment · led at Series B, 2022 | Series B Mar 2022 $800M | $7.2B | $510M – $10.9B | $7.0B (-3%) | $943M | 0% | 79 | up | D | |
| 8 | Kurly Groceries · led at Series F, 2021 | Growth Equity Dec 2021 $210M | $3.3B | $287M – $3.8B | $3.3B (0%) | $376M | 0% | 640 | flat | D | |
| 9 | Omio Travel Agencies · since Growth, 2018 | Other Jul 2026 $10M | $725M | $60.4M – $1.8B | $670M (-7%) | $158M | 7% | 441 | flat | D | |
| 10 | Nature's Fynd Food Production · since Series C, 2021 | Series C Jul 2021 $350M | $151M | $88.9M – $473M | $135M (-11%) | $156M | 97% | 92 | shrinking | C | |
| 11 | CarDekho Automobile Dealers & Manufacturers · since Series C, 2019 | Series E Oct 2021 $250M | $1.3B | $104M – $1.5B | $1.2B (-8%) | $197M | 0% | 2,599 | flat | D | |
| 12 | Food Production · led at Growth, 2018 | Growth Equity Oct 2018 | $188M | $45.1M – $982M | $188M (0%) | $97.1M | 83% | 48 | down | D | |
| 13 | Pharmaceutical Products · since Series A, 2026 | Series A Mar 2026 | $74.5M | $29.5M – $170M | $80.8M (+8%) | $14.8M | 37% | 11 | flat | C | |
| 14 | Payment Processing & Point of Sale · since Series B, 2026 | Series B Jan 2026 | $227M | $84.8M – $506M | $254M (+12%) | $32.1M | 0% | 107 | growing | C | |
| 15 | Pharmaceutical Products · since Series B, 2021 | Series C Nov 2021 $300M | $1.5B | $81.7M – $3.4B | $1.5B (0%) | $307M | 0% | 87 | unknown | D | |
| 16 | Tech Companies · since Series F, 2021 | Series F Jan 2021 $360M | $1.6B | $139M – $2.8B | $1.5B (-2%) | $389M | 2% | 323 | flat | D | |
| 17 | Food delivery · led at Growth, 2018 | Growth Equity Dec 2018 $320M | $2.2B | $190M – $3.0B | $2.2B (0%) | $296M | 0% | 1,655 | flat | D | |
| 18 | Pharmaceutical Products · led at Series B, 2026 | Series B Jan 2026 $235M | $2.1B | $1.1B – $3.3B | $2.4B (+11%) | $259M | 0% | 5 | unknown | B | |
| 19 | Office Spaces · led at Growth, 2022 | Growth Equity Nov 2022 $300M | $4.7B | $1.5B – $7.1B | $4.7B (0%) | $482M | 0% | 729 | growing | C | |
| 20 | Pharmaceutical Products · since Series D, 2026 | Series D Feb 2026 $130M | $1.9B | $1.1B – $2.9B | $2.1B (+9%) | $226M | 0% | 65 | growing | B | |
| 21 | Orthodontists · since Series A, 2021 | Growth Equity Dec 2024 $114M | $1.4B | $803M – $2.0B | $1.3B (-4%) | $138M | 10% | 1,062 | growing | B | |
| 22 | Tech Companies · led at Series C, 2020 | Series C Dec 2020 $265M | $2.7B | $809M – $6.1B | $2.7B (0%) | $508M | 2% | 199 | growing | D | |
| 23 | Biotechnology · led at Series A, 2018 | Series C May 2021 $105M | $401M | $35.8M – $836M | $392M (-2%) | $117M | 3% | 32 | flat | D | |
| 24 | Travel Agencies · since Series D, 2017 | Series D Dec 2017 $133M | $1.1B | $98.8M – $1.9B | $1.1B (0%) | $231M | 13% | 346 | flat | D | |
| 25 | Electronical Components Manufacturing · since Series B, 2026 | Series B Jun 2026 $150M | $1.1B | $612M – $2.1B | $1.4B (+29%) | $177M | 0% | 237 | up | C | |
| 26 | Pharmaceutical Products · led at Growth, 2026 | Growth Equity Aug 2026 $184M | $2.1B | $1.3B – $3.4B | $2.2B (+8%) | $202M | 0% | 28 | growing | B | |
| 27 | Bicycle Shops, Parts & Accessories · led at Series C, 2021 | Series C Sep 2021 $128M | $319M | $52.0M – $1.3B | $276M (-13%) | $115M | 59% | 193 | flat | D | |
| 28 | Biotechnology · led at Series A, 2024 | Series A Jul 2024 $165M | $1.6B | $383M – $2.5B | $1.0B (-37%) | $231M | 0% | 42 | up | C | |
| 29 | Biotechnology · since Series A, 2019 | Series B May 2021 $67M | $283M | $35.5M – $738M | $261M (-8%) | $83.2M | 39% | 25 | flat | D | |
| 30 | Industrial Machinery & Supplies · since Series B, 2022 | Series C Mar 2026 $100M | $937M | $519M – $1.6B | $1.0B (+10%) | $130M | 0% | 12 | growing | B | |
| 31 | Medical Supply Manufacturers · since Series B, 2023 | Series B Apr 2023 $150M | $769M | $146M – $2.5B | $577M (-25%) | $199M | 46% | 309 | down | D | |
| 32 | Tech Companies · led at Series B, 2019 | Series C Nov 2021 $100M | $999M | $63.3M – $1.4B | $923M (-8%) | $148M | 0% | – | flat | D | |
| 33 | Tech Companies · led at Series B, 2019 | Series C Nov 2021 $100M | $676M | $83.3M – $1.2B | $633M (-6%) | $122M | 0% | 118 | up | D | |
| 34 | Biotechnology · since Series B, 2021 | Series B Apr 2021 $100M | $111M | $14.0M – $488M | $103M (-7%) | $63.5M | 39% | 13 | flat | D | |
| 35 | Batteries · since Series B, 2021 | Series B Jun 2021 $100M | $3.4B | $297M – $3.9B | $3.2B (-4%) | $452M | 0% | 659 | up | D | |
| 36 | Vitamins & Supplements · since Growth, 2018 | Acquisition Jan 2025 | $807M acquired 2025 | $75.2M – $1.5B | – | – | 19% | 150 | flat | D | |
| 37 | Banks & ATMs · since Seed, 2020 | Series C Aug 2022 $17M | $734M | $79.6M – $844M | $678M (-8%) | $102M | 0% | 1,694 | flat | D | |
| 38 | Tech Companies · led at Series C, 2017 | Growth Equity Mar 2020 $30M | $189M | $17.6M – $386M | $189M (0%) | $33.0M | 19% | 390 | flat | D | |
| 39 | Tech Companies · since Seed, 2024 | Seed Jan 2024 $83M | $217M | $123M – $452M | $99.2M (-54%) | $199M | 97% | 17 | shrinking | C | |
| 40 | Electronical Components Manufacturing · since Series A, 2017 | Series A Dec 2017 $68M | $212M | $17.0M – $614M | $202M (-4%) | $95.2M | 12% | 23 | up | D | |
| 41 | Medical Supply Manufacturers · since Series A, 2026 | Series A Apr 2026 $55M | $407M | $201M – $837M | $550M (+35%) | $77.0M | 0% | 40 | up | C | |
| 42 | Industrial Machinery & Supplies · since Series B, 2023 | Series C May 2025 $36M | $318M | $166M – $500M | $264M (-17%) | $47.6M | 59% | 66 | flat | B | |
| 43 | Tech Companies · led at Series C, 2019 | Series E Mar 2022 $47M | $549M | $72.9M – $944M | $517M (-6%) | $93.4M | 0% | 114 | up | D | |
| 44 | Tech Companies · led at Series B, 2020 | Series B Nov 2020 $43M | $442M | $35.6M – $778M | $424M (-4%) | $70.6M | 6% | 151 | up | D | |
| 45 | Real Estate Rental · since Series C, 2026 | Series C Feb 2026 $17M | $163M | $90.6M – $273M | $179M (+10%) | $22.7M | 0% | 103 | growing | B | |
| 46 | Payment Processing & Point of Sale · led at Series B, 2024 | Series B Sep 2024 $48M | $541M | $125M – $824M | $392M (-28%) | $68.5M | 0% | 62 | flat | C | |
| 47 | Pharmaceutical Products · led at Series A, 2021 | Growth Equity Jul 2026 $31M | $303M | $197M – $478M | $301M (-1%) | $34.1M | 50% | 21 | flat | B | |
| 48 | Tech Companies · led at Series C, 2015 | Series C Jan 2015 $40M | $334M | $21.9M – $508M | $334M (0%) | $52.0M | 0% | 929 | flat | D | |
| 49 | Event Planner Services · since Series A, 2025 | Series A Nov 2025 $14M | $240M | $97.4M – $353M | $249M (+4%) | $34.8M | 0% | 47 | growing | C | |
| 50 | Cleaning Equipment & Supplies · led at Growth, 2023 | Growth Equity Jan 2023 $29M | $295M | $45.4M – $449M | $282M (-4%) | $31.7M | 0% | 47 | up | D |
Valuation: VCMC's valuation with its range, from a low to a high scenario; a company with no valuation shows a dash, one acquired after its last round its last value as a private company.
Activity
How Hillhouse invests: stages, industries and countries
Most of its rounds are Series C and later (46%). Its companies span 27 industries, most in Tech Companies, Pharmaceutical Products and Biotechnology, across 15 countries.
Rounds by stage
- Seed 2
- Series A 14
- Series B 16
- Series C and later 27
Investments by industry
- Tech Companies 9
- Pharmaceutical Products 6
- Biotechnology 4
- Payment Processing & Point of Sale 4
- Industrial Machinery & Supplies 3
- Medical Supply Manufacturers 3
- Batteries 2
- Electronical Components Manufacturing 2
Investments by country
- China 17
- United States 13
- Singapore 5
- India 4
- Germany 3
- Japan 2
Recent rounds
Hillhouse's latest investments
Hillhouse's most recent funding rounds, newest first. 10 rounds in the last 12 months.
- Growth, led $184M 4 Aug 2026
- Series B $150M 8 Jun 2026
- Series A $55M 29 Apr 2026
- Series A amount not disclosed 9 Mar 2026
- Series C $17M 17 Feb 2026
- Series D $130M 5 Feb 2026
- Series B, led $235M 28 Jan 2026
- Series B amount not disclosed 9 Jan 2026
- DayOne Series C $2.00B 5 Jan 2026
- Series A $14M 13 Nov 2025
Co-investors
Hillhouse's top co-investors
The investors that most often join the same rounds as Hillhouse. Sequoia Capital leads, with 9 rounds together.
- Sequoia Capital 9 rounds together
- HSG 9 rounds together
- 5 rounds together
- SoftBank Vision Fund 4 rounds together
- 4 rounds together
- 3 rounds together
- 3 rounds together
- 3 rounds together
- 3 rounds together
- 2 rounds together
About
About Hillhouse
Hillhouse Investment Management Ltd. is a Hong Kong-based investment management company that operates as a private equity firm, venture capital firm, and investment management company. The company invests in sectors such as healthcare, industrials, energy transition, business services, and consumer markets, and manages capital on behalf of global institutions including non-profit foundations, endowments, and pensions. Hillhouse serves clients in over 10 countries, including the US, Singapore, Korea, Canada, Japan, India, EU, Australia, and Indonesia.
Description from Veridion's company data.
- Founded
- 2005
- Based in
- Singapore, Singapore
- Team
- 444 people, +20% in a year
- Type
- Venture capital firm
Focus markets
- Healthcare
- Industrials
- Energy Transition
- Business Services
- Consumer Goods
What Hillhouse offers
- Private Equity Investment Management
- Long-Term Business Growth Partnerships
- Portfolio Company Value Creation Services
- Healthcare Sector Investment Services
- Industrials Sector Investment Services
- Energy Transition Investment Services
- Business Services Investment Services
- Consumer Sector Investment Services
Questions
Hillhouse: frequently asked questions
How many companies has Hillhouse invested in?
54 venture-backed companies on VCMC, across 59 funding rounds.
What are Hillhouse's most valuable private companies?
DayOne ($17.1B), Airwallex ($12.0B), Yuanfudao ($10.1B), by VCMC's valuation.
What was Hillhouse's latest investment?
Asymbio, a Growth round in Aug 2026 of $184M, which Hillhouse led.
Which stages does Hillhouse invest in?
Hillhouse invests most often at Series C and later (27 rounds), followed by Series B (16) and Series A (14). It has also joined 2 seed rounds.
What is Hillhouse's portfolio worth?
Its private companies with a VCMC valuation are worth $109.4B together. That is the sum of the companies' values, not what Hillhouse owns.
Who does Hillhouse invest alongside?
Sequoia Capital (9 rounds), HSG (9 rounds), Source Code Capital (5 rounds).