Long Hill Capital, a venture capital firm in China, has closed on more than $300 million for its third fund on 15 March, bringing the firm's total committed capital to nearly $800 million over its four-year history.

Fund 3, as it is known, exceeded the firm's original target size in less than six months after initial launch. Investors in Fund 3 include global pensions, endowments, foundations, financial institutions, family offices and fund of funds.

The new fund, Long Hill's largest to date, will be invested across a broad range of healthcare and longevity sectors. Consistent with the firm's strategy over the previous two funds, the majority of capital will be concentrated in early-stage opportunities with select growth-stage investments.

Xiaodong Jiang, managing partner of Long Hill Capital, said: "By 2050, nearly 50% of Chinese will be over the age of 50. Today, China's infrastructure for both healthcare and longevity costs too much and delivers too little. At Long Hill, our goal is to help build next generation franchise companies that will enable China's soon-to-be 400 million seniors to afford a healthy and happy life, despite our still significant gap in per capita income compared to developed countries. We are focused thesis investors. By concentrating on key verticals, we are able to spot exciting opportunities earlier and become better partners to entrepreneurs."

Over the past 18 months, Long Hill Capital has invested more than $150 million across 34 - healthcare and longevity start-ups. During the same period, Long Hill portfolio companies have also - completed more than $750 million in follow-on financings led by later stage investors such as Hillhouse, Alibaba and ByteDance. Last June, Hygeia Healthcare became the first portfolio company to complete a public offering less than four years after Long Hill's founding. Nine months after its IPO, Hygeia became the fifth-largest publicly listed healthcare services company in China by market value.