Internet streaming service iQiyi, raised $2.3 billion in its Nasdaq IPO on March 29, 2018. Hillhouse was the largest investor in the company’s January 2017 funding.
On July 15, 2017, BeiGene and Celgene announced a global strategic oncology collaboration to help with the development of cancer treatments. The two companies plan to develop and commercialize BeiGene’s investigational anti-programmed cell death protein 1 (PD-1) inhibitor, BGB-A317, for patients with solid tumor cancers.
On April 28, 2017, footwear and apparel retailer Belle International announced a privatization offer for $6.8 billion by a group of buyers led by Hillhouse. Belle, which distributes some of the biggest names in international sportswear, including Nike, Adidas and Puma, as well as several highly popular Chinese brands that it makes itself, said that the move was a way to increase its competitiveness in the online space.
US investors showed their strong confidence in the future of the online Chinese travel market, as Qunar shares doubled in its first day of trading on November 1, 2013.