PE firm CBC eyes more listings after Chinese firm I-Mab’s debut in US

Medical drugs in a pharmacy. Credit: Flickr/epSos .de

CBC Group, a private equity firm focused on the health-care industry, is preparing more of its portfolio companies for the capital markets on the back of growing investor demand.

Chinese drug developer I-Mab raised $104 million in an initial public offering in U.S. this month and the stock has since risen about 8%. Singapore-based CBC Group, which manages more than $2 billion, is one of the early investors in I-Mab.

“We have a strong portfolio of companies across our three core health-care sectors: pharma, medtech and services, many of which are progressing well,” Fu Wei, the founder and chief executive officer of CBC Group, said in an interview. “Looking at the year ahead, we expect to see more capital market activities.”

Everest Medicines, a biopharmaceutical company backed by CBC Group, is exploring an IPO, Bloomberg News first reported in June. The buyout firm has also invested in Chinese health-care firms including AffaMed Therapeutics, Innovent Biologics Inc. and Lu Daopei Medical Group, Fu said.

CBC Group was formerly known as C-Bridge Capital. Fu, founded the private equity firm in 2014 after working at various places including Far East Horizon Ltd.’s investment group and Goldman Sachs Group Inc.

The private equity firm is mostly interested in taking control of businesses that are not performing well so that it can turn them around, Fu said, adding that it’s also incubating startups to try help them grow since its early days.

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.