Updates

The Hillhouse team stands with residents of Wuhan as they collectively combat the coronavirus. Our team and our portfolio companies, including those in the healthcare community, have initiated efforts to deliver aid and information to the affected areas. Here are some examples.

In December 2019, Hillhouse portfolio company Woowa Brothers, the operator of South Korea’s dominant food delivery platform “Baedal Minjok”, announced a deal with Germany’s Delivery Hero, in a move focused on global expansion in Asia. The combined business helps create the largest food delivery platform globally, outside of China.

In November 2019, Hillhouse’s Lei Zhang spoke as a panelist on the future of capitalism at Bloomberg’s New Economy Forum. He discussed how technology could be used as an “equalizer” rather than a “disrupter” to enable long-term success for businesses.

In October 2019, BeiGene and Amgen announced a global strategic oncology collaboration for the commercialization of a series of Amgen’s cancer drugs in China and the development of 20 oncology assets in Amgen’s pipeline to be sold globally. The BeiGene-Amgen cooperation represents the largest ever US-China cross-border biotech transaction.

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.

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.

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.