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Alternative Market Briefing

Long Hill Capital closes debut fund on $125m

Tuesday, November 15, 2016

Bailey McCann, Opalesque New York:

Long Hill Capital Management (LHC), a China-focused venture capital firm, today has closed Long Hill Capital Venture Partners 1 on $125 million. The fund will invest in early stage technology-enabled healthcare and consumer services companies based in China. The fund was in market for less than six months.

Long Hill Capital Venture Partners 1 will be managed by Xiaodong Jiang and Bo Jiang who since 2005 have led the China investing practice for New Enterprise Associates (NEA), a global investment firm with over $17 billion in committed capital.

"China will have both more middle class consumers and more senior citizens over age 60 than the entire population of the United States in the next decade," said Xiaodong Jiang, Managing Partner of Long Hill Capital. "The Chinese healthcare and consumer services industries are embracing technology in an unprecedented way. We cannot be more excited to build upon our track record of success and continue to invest in next generation entrepreneurs who seek to massively improve health and quality of life for every Chinese."

Initial investors in the fund include Asia Alternatives and International Finance Corporation (IFC), a member of the World Bank Group.

"China is IFC's second-largest portfolio country, and we look forward partnering with Long Hill Capital to reach more innovators and entrepreneurs in China in the coming years," said Nikunj Jinsi, Global Head of Venture Capital......................

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