That is partly correct. I will rephrase: Hedge funds are all about growth and capital appreciation [for their own company and its investors], and they take on high[ly] [opportunistic] risk [mitigated] investments in order to achieve that [end].
This is the educated definition of a Hedge Fund. The operative term is hedge. There's a reason that qualifier is used. To know what a Hedge Fund is not, negate the definition I provided. The result is a naïve definition of a Hedge Fund.