Spinee wrote a post · Nov 20, 2022 21:23

Hillhouse Capital Denies Rumors of Layoffs and Withdrawal From Chinese Market

$Hillhouse Capital Holdings(BK2123.US)$, a venture capital firm that once backed $ByteDance(FT0001)$ , $JD.com(JD.US)$ and $Tencent(TCEHY.US)$ , has been shrouded in rumors this year, including the departure of senior partner, layoffs, and the disposal of its RMB fund assets at a discount of 60% – a move interpreted as the beginning of its withdrawal from the Chinese market.

However, Hillhouse Capital has denied these reports.

Zhang Lei, founder of Hillhouse Capital

A report in China Entrepreneur showed that Hillhouse Capital was disposing of a large number of assets in China and seeking buyers to take over. A considerable part of the investment team has moved overseas and offices in Japan and Europe have been set up. Hillhouse Capital once responded, “The Secondary Fund is our new strategy. In areas that we believe in over the long term, we make both equity investments and purchase second-hand assets. At present, we are working with local funds to promote the landing of the Secondary Fund.”

$Hillhouse Capital Related(BK1286.HK)$ $Bytedance Concept Stocks(BK1266.HK)$ $JD-SW(09618.HK)$ $TENCENT(00700.HK)$ $Hang Seng TECH Index(800700.HK)$ $Hang Seng H-Share Index ETF(02828.HK)$ $Hang Seng Index(800000.HK)$

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