Hidden Hill Capital
Established in 2018, Hidden Hill Capital (“Hidden Hill”) is a private equity manager backed by GLP Capital Partners (“GCP”), the exclusive investment and asset manager of GLP.
Hidden Hill invests minority, significant minority, and strategic equity in companies in modern logistics, digital supply chains, renewable energy and related technologies, with a focus on cross-border opportunities across Asia.
It has more than US$4B in assets under management (AUM) across both RMB (Chinese Yuan) and USD private equity strategies, including its flagship Hidden Hill Modern Logistics Private Equity Fund (US$1.2B AUM), which was ranked the world’s second largest PropTech fund by PERE in 2021 and 2022.
Hidden Hill also debuted on PEI’s Top 300 Private Equity Managers list in 2022 and made it to the list again in 2023 and 2024. The firm was also ranked No.1 on 2024 PERE Proptech 20 List.
> US$4.0B
AUM
8
Active Funds
US$2.4B
Total Invested Equity
~100
VC/PE Companies Invested In
Investment Philosophy
STRONG ECOSYSTEM
Hidden Hill has deep roots in China and Asia, where its local teams have strong relationships with entrepreneurs and key industry leaders. Hidden Hill leverages GCP and GLP’s global network, ecosystem, and deep industry insights to support its portfolio companies’ strategic plans, including cross-border expansion.
STRATEGIC SPECIALIZATION
As a sector specialist, Hidden Hill has proprietary deal sourcing and portfolio development capabilities. It has a disciplined investment process with active post-investment management to enhance stakeholder value.
Hidden Hill’s two founding partners have more than 50 years of combined industry experience, and the business is supported by more than 60 professionals across five offices in Shanghai, Beijing, Hunan, Xiamen, and Hong Kong.
ESG Focused
Hidden Hill is a UN Principles for Responsible Investment (PRI) signatory in line with GCP. Together with GCP, Hidden Hill is committed to a broad range of ESG initiatives that elevate its business, create value for its shareholders, support its employees and show respect to the local communities in which it works.
Investment Themes
MODERN LOGISTICS
Hidden Hill invests in logistics solutions that power the movement of goods along the supply chain. This includes shipping, air freight, railway and highway transportation, delivery and forwarding, and fulfilment and distribution platforms that provide tech-enabled logistics services and cross-border solutions.
SUPPLY CHAIN
DIGITIZATION & OPTIMIZATION
Hidden Hill invests in technologies that create supply chain efficiencies and reduce cost through digitization and automation.
LOGISTICS TECHNOLOGY ENABLERS & RENEWABLE TECHNOLOGY
Hidden Hill is focused on technology investments related to modern logistics and supply chain optimization such as the Internet of Things and Robotics. It also invests in renewable technology solutions and companies that accelerate the adoption of renewable energy within the logistics services and supply chain to support the global energy transition and carbon emission reduction goals.
Portfolio Companies
Main Funds
News
Our Team
Hidden Hill has built a team with roots in
Asia that combines deep industry knowledge with strong investment experience.
Hidden Hill continues to attract talent globally, sharpening its
Pan-Asia investment platform.
Higashi Michihiro
Founding and Managing Partner
Prior to joining Hidden Hill, Higashi was Chief Investment Officer of GLP China, where he currently also serves as Chief Strategy Officer of GLP China. Higashi joined GLP in 2006, was instrumental in growing the scale and diversity of GLP’s China business. He was also responsible for managing and establishing strategic alliances in China.
Higashi was formerly Senior Vice President and Head of Investment of GLP China and helped grow the GLP’s business in Japan. He was previously at Nomura Research Institute where he was responsible for corporate strategy consulting, and Oita Bank in equity research.
Higashi received his Bachelor of Law from Wuhan University and a Master of Economics from Oita University.
Higashi Michihiro
Founding and Managing Partner
Richard Dong
Founding and Managing Partner
Richard is an industry veteran with more than 45 years of experience in the logistics industry.
Prior to joining Hidden Hill, Richard served as a strategic advisor to GLP China and was on the board of several listed and private companies. He previously also held positions at Weichai Power, Linde Material Handling and the National Ministry of Machinery Industry in China and was the founding partner of Orient-Logistics Consulting and Global Connexion.
Richard received his Bachelor of Engineering from Jilin University of Technology and EMBA from China Europe International Business School.
Richard Dong
Founding and Managing Partner
Submit Your Business Plan
Submit Your Business Plan
We understand the confidentiality of your business plan and will not disclose any information to external parties.
Sending succeeded!
Required information is incomplete or incorrectly filled in!