Hot Investor Mandate 3: Cross-Border Fund Seeks Biotech, Medtech & Diagnostics in USA and China

7 Apr

A venture capital firm founded in 2006 with offices across China and in the US has invested in nearly 50 healthcare companies across all sectors of life sciences from pharmaceuticals and medical devices to healthcare IT and diagnostics. The firm typically leads investments, though is also open to co-investing. The firm typically makes equity investments ranging from $1-$35 million, and currently has $1.7 billion in total assets under management, with their latest fund raised in Feb. 2016 at $648 million. The firm seeks to make 20-30 new investments within the next year, with a geographical focus in China. The firm is open to opportunities in the US, as the firm recently closed deals in Boston, San Francisco, and Los Angeles.

The firm is open to all sectors and subsectors in the life science space – biotech therapeutics, medical devices, diagnostics, and healthcare IT. The firm is generally most interested in technology that address a large unmet need that may be in a crowded disease market but with an innovative strategy (i.e. hitting new targets). The firm is not particularly interested in orphan and rare diseases. The firm mostly invests in 510K devices due to its faster turnaround, but will also invest in devices in the PMA pathway depending on its stage. In therapeutics, the firm is interested in all subsectors including small molecule, biologics, cell therapy, and biosimilars. The firm invests in therapeutics that are past the pre-clinical stage at Phase I to on the market, as well as medical devices that are either at the clinical stage or on the market. The firm’s US branch is particularly more open to earlier stage investments, including innovative seed funding, while the China headquarters is more interested in clinical, late-stage technology. The firm is also interested in lab equipment and drug development enabling technologies, and is open to all indications.

The firm prefers a company with a strong management team with experience in the space. The firm will help the company fill spaces in the team if necessary, and will typically take a board seat after an investment. The US branch will mark technology with a China angle as priority for investment.

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