Dear fellow entrepreneurs,
How have you been lately?
People say entrepreneurship is a spiritual practice. However, no one expected a sudden coronavirus onslaught to force us all into a state of “solitary retreat.” Spring should be a season of hope, but you might not feel that way in this difficult time.
As all of us work to emerge from this deep winter, let us remind ourselves to not fall too deeply into pessimism or let short-term worries obscure long-term perspectives. The longer slant of daylight and warming winds drifting across the sea remind us that spring is approaching.
If we clear our minds of panic, we may find that things are not as bad as imagined. The outbreak may have interrupted the rhythms of our daily life, but it can’t put a permanent halt to the forward trajectory of progress.
The evolving interplay between innovation, capital and talent continues to lengthen the runway for creating value and growth. And perhaps more importantly, the outbreak hasn’t shaken the hope of over one billion people who want a brighter future for themselves and their loved ones. Our imaginations would do well to keep up with those of consumers in what is likely the most dynamic region in the world.
Innovation thrives even in the coldest winters. Our portfolio companies have sown seeds of innovation while lending a helping hand during difficult times, exploring new lands they never expected to find. Our drugstore platform, Cowell Health, quickly expanded online services and provided a worried public with free online consultations, online prescriptions and medicine delivery. Beigene gathered doctors to provide online medical consultations for oncology patients who were no longer able to get to hospitals or saw their treatments delayed as medical resources were directed toward fighting the virus. Meicai, whose client base is typically restaurants and businesses, quickly launched fresh food distribution services for home-bound consumers. Zoom connected families online through “parties in the cloud.” Yunzhangfang rolled out an enterprise information platform as workers resumed their duties. Perfect Diary gave “mask makeup” tutorials. And our online education companies quickly rolled out expanded services, providing some respite for frazzled parents.
The history of businesses never ends – it just evolves. Countless new changes and demands are emerging, waiting for us to meet them with greater creativity, better quality, and innovation.
Rational optimism and constant innovation in the willing embrace of change is deeply ingrained in Hillhouse’s DNA. These traits are also what we care about the most when we look for visionary entrepreneurs to be our partner.
Creators should not stand on their own and innovators should not stand alone. It is these entrepreneurs who have the deepest insights into the society and turn visions into reality, inspiring us to stand firmly with them and make a difference.
As winter turns to spring, we would like to re-emphasize our commitment to the young (and young at heart) innovators in our community, to those who have the will and the passion to grow a small seed into a great forest. Hillhouse is proud to announce the creation of GL Ventures, a program dedicated to early-stage investments. GL Ventures covers four major sectors: healthcare, software services, consumer internet, and emerging consumer brands and services.
From our sector teams:
Healthcare Team:
We have your back through thick and thin
Hillhouse has a wide range of investments around the world, and has established the cornerstones of the industry through companies in the fields of biopharmaceuticals, medical devices, specialty hospitals and drugstores. We help companies link upstream and downstream supply chains, share ecosystem resources, and recruit core talent. We also help companies as they seek to grow onto the international stage.
Software services Team:
Bringing resources and users to your door
Our broad network of partners are the biggest clients in the market for enterprise software companies, and we would be delighted to help you land the demo.
Consumer Internet Team:
We work together and we see from your perspective
Hillhouse not only has deep insights into consumer trends and changes in user behavior, but also thinks from the entrepreneurs’ perspective. We understand your challenges and we have the resources to provide you with practical solutions.
Emerging consumer brands and services:
We can help you bring new brands to life
We have a consumer mentality and full-stack enablement resources, from creative design to emerging brand business strategy. We firmly believe that now is the best time to start a new consumer brand!
What you do not sow in spring, you will not reap in the autumn. Through the launch of GL Ventures, Hillhouse will continue to support innovators of all stripes, sowing seeds for a brighter future and welcoming a new spring of innovation and entrepreneurship together.
Hillhouse
February 24, 2020