Hillhouse Capital sets up VC unit to raise $1.42b for early-stage investments

Hillhouse Capital sets up VC unit to raise $1.42b for early-stage investments

Commercial buildings including the China Central Television (CCTV) Headquarters, center, stand in the central business district of Beijing. Photographer: Tomohiro Ohsumi/Bloomberg

Asia-focused private equity major Hillhouse Capital Group has launched a dual-currency venture capital unit, GL Ventures, to raise its stakes in early-stage investments, the company said in a WeChat post on Monday.