A side-by-side comparison of two Healthcare investors: Deerfield Management (Power Score 83/100) and HSG (Power Score 85/100), both ranked among the most active firms tracked in this category.
| Deerfield Management | HSG | |
|---|---|---|
| Power Score™ | 83/100 | 85/100 |
| Assets Managed | More than $16B (in assets as of December 2025, per the firm's own About page; the figure could not be checked against Form ADV Item 5.F) | Over US$61B (assets for institutional investors as of 30 June 2026, per hsgcap.com/about-us) |
| Founded | 1994 | 2005 |
| Headquarters | New York, NY | Hong Kong, China |
| Sectors | Therapeutics, Medical Devices, Healthcare, Diagnostics, Digital Health, Life Sciences | Technology, Healthcare, Consumer |
Deerfield describes itself as an investment firm dedicated to advancing healthcare through investment, intelligence and philanthropy, and says it holds a portfolio of more than two hundred private and public investments spanning therapeutics, medical devices, healthcare services, diagnostics and digital health. It states that it invests across capital structures and across company stages, from early-stage startups to mature companies, and that it offers structured finance solutions and customised financing for entrepreneurs and corporate partners in both public and private markets. Alongside the funds it runs an in-house research and data organisation: Deerfield Intelligence is described as the firm's data, technology and AI arm, and Deerfield Discovery and Development (3DC) as its internal R&D engine, taking early-stage therapeutics from discovery through preclinical proof of concept into clinical development. Deerfield also builds companies with academic and health-system partners through named discovery alliances. It is an SEC-registered investment adviser (CRD 157876, SEC file 801-73284) and files quarterly 13F reports covering listed equities, ADSs and convertible notes, so its public-market activity sits alongside its private investing rather than replacing it.
View full Deerfield Management profile →HSG describes itself on its own About Us page as a venture capital and private equity firm, formerly known as Sequoia China, investing globally across technology, healthcare and consumer sectors. Its Chinese-language site describes the same three areas as 科技, 医疗 and 消费, and lists its investment stages as seed-stage, growth-stage, buyout, new-infrastructure and public-market investing (种子期投资, 成长期投资, 并购投资, 新基建投资, 公开市场投资). The firm states it has backed more than 1,800 companies, that over 190 of them have gone public and that over 140 have become unicorns. It states offices in Hong Kong, Shanghai, Beijing, Shenzhen, London, Tokyo and Singapore.
View full HSG profile →