Founded by Richard Liu Qiangdong in 1998,’s business-to-consumer (B2C) e-commerce platform has become China’s second largest online B2C retailers, specialising in electronics, smartphones, and gadgets. is a key rival of Alibaba’s e-commerce platforms Tmall and Taobao. 

Hillhouse Capital currently manages assets worth more than US$50 billion. Photo: Handout

Hillhouse Capital closes record US$10.6b Asia fund with focus on tech

Hillhouse Capital, known for its investments in Tencent Holdings, Baidu, Didi Chuxing and Meituan Dianping, has raised a record US$10.6 billion for its latest private equity fund that will focus on Asian technology, health care and consumer sectors, the Beijing-based firm said on Wednesday.