In October 10, 2019, Topsports listed on the Hong Kong Stock Exchange, raising $1 billion in proceeds. Topsports’ listing represents one of the largest IPOs in the region in 2019. Despite a rocky macro environment, the quality of the Topsports business and the differentiation of Hillhouse’s tech-enabled approach impressed investors.
Updates
Hansoh Pharmaceutical Raises $1 billion in Hong Kong IPO
On June 14, 2019, Hansoh listed on the Hong Kong Stock Exchange, raising roughly $1 billion in proceeds. The IPO was a resounding success, pricing in what are currently choppy equity market conditions.
Hillhouse Contributes to the Annual Internet Trends Report
Every year, Hillhouse contributes in-depth research to the highly anticipated “Internet Trends Report.” As has been the case for the past few years, the firm prepares a dedicated section on trends in China. Here are the highlights from the 2019 report.
Hillhouse Capital Announces Acquisition of Loch Lomond Group
In June 2019, Hillhouse announced that it is partnering with the management team from Loch Lomond, one of Scotland’s most historic and iconic whisky producers, to acquire Loch Lomond Group.
Investor’s Business Daily: Zoom Stock Soars As Company’s IPO Hauls In $752 Million
Shares of Zoom Video Communications (ZOOM) began trading on April 18, 2019 with an initial public offering that raised $752 million, as the stock initially soared more than 80%.
There is Only One True Moat in the World
In April 2019, Hillhouse Capital hosted a summit featuring leading entrepreneurs and institutional investors to discuss the future of business innovation and value creation. During the summit, Lei Zhang, founder and CEO of Hillhouse Capital, gave a speech entitled “Let the Miracle Creator Create another Miracle”. He said that there is only one moat in the world, which is entrepreneurs constantly innovating and creating long-term value.
TechCrunch: Moka Raises $27M Led by Hillhouse to Make Hiring More Data-driven
Moka, a startup that wants to make talent acquisition a little more data-driven for China-based companies that range from smartphone giant Xiaomi to Burger King’s local business, announced that it had raised a 180 million yuan ($27 million) Series B round of funding.
Lalamove Raises $300M in Series D Funding
Lalamove, Asia’s leading on-demand delivery & logistics service provider, closed a US $300M in its latest D1 round led by Hillhouse Capital on February 21, 2019.
Animal-Health Technology & Services Company Covetrus Lists on Nasdaq
On February 8, 2019, Covetrus, a leading global animal-health technology and services company, with over $3.5 billion in revenues, listed on Nasdaq.
Harvard Business Review: Belle is Digitizing Customer Engagement
When Belle accepted a Hillhouse-led bid to go private in 2017, it cited the need to leverage technology more efficiently in its business as a key reason. Over the last 18 months, the company has made huge strides in building technology into its business to help consumers get the best personalized products more efficiently.
