China's Alwin Capital closes second dual-currency fund this month at over $300m

China's Alwin Capital closes second dual-currency fund this month at over $300m

Photo: Pixabay

Chinese venture capital (VC) firm Alwin Capital has secured the final close of a dual-currency fund at $300 million to invest in life and interdisciplinary sciences, according to a company announcement.

The RMB investors of the dual-currency fund include large fund of funds (FoFs), Chinese government guidance funds, medical industry and insurance companies, banks, and other financial institutions in China, the company said without divulging names.

The USD investors of the fund include market-oriented FoFs, large asset management companies, industrial investors, and global family offices.

Alwin Capital specialises in life science investments such as medical equipment, artificial intelligence (AI) applications, medical robots, and therapy devices. It was founded in 2015 by Sun Yana and Shi Huijing, who are both former executives at the financial services conglomerate China International Capital Corporation (CICC). 

It had closed a separate dual-currency fund earlier this month worth 2 billion yuan ($281.1 million) for the life sciences industry, DealStreetAsia reported.

“With the close of the new dual-currency fund, Alwin Capital will continue to invest in the frontiers of life science and interdisciplinary science,” said the Alwin Capital team in the statement.

The Chinese VC company has backed companies such as immune cell drug developer Neukio Biotherapeutics, AI-based drug development company Xbiome and biotech companies EdiGene and Abogen Biosciences.

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