China Deal Monitor: GL Ventures backs Yingsheng Biology and more updates

China Deal Monitor: GL Ventures backs Yingsheng Biology and more updates

GL Ventures, the investment arm of Asia-focused PE firm Hillhouse Capital, has led ‘tens of millions of US dollars’ in the Series B round for Chinese biomedical engineering player Shandong Yingsheng Biotechnology Co., Ltd, per a company statement on Thursday.

Shenzhen-headquartered Qianhai FOF, Sunshine Insurance Group’s Riverhead Capital Investment Management and healthcare-oriented CD Capital joined as new investors while long-term backer YuanBio Venture Capital re-upped in the round. 

Prior to the current round, YuanBio partnered Xiamen C&D Corporation to invest in Yingsheng in May and June 2019, respectively. 

Shanghai-based investment bank Haoyue Capital facilitated the transaction.

Yingsheng will use the fresh funding to develop its clinical mass spectrometry technology. Located at East China’s Jinan city, the 11-year-old Yingsheng leverages its gene detection and mass spectrometry detection platform to produce genealogy-based medical testing tools and services. 

The solutions are widely used across birth defect screening and disease prevention.

Its early-stage investors also include Sunz Fund,  Alwin Capital, and Source Capital. 


DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on November 11-12, 2020. 

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