Chinese biopharmaceutical startup Alebund Pharmaceuticals has secured $60 million in a Series B round, while San Francisco and Hong Kong-based asset management firm Revere VC has closed its seed round.
Alebund Pharma nets $60m in Series B round
Alebund Pharmaceuticals, a biopharmaceutical startup that develops innovative therapies for the treatment of renal diseases, has bagged $60 million in a Series B round of financing, the startup announced on May 9.
The Series B round was led by Quan Capital, a life sciences venture capital (VC) firm, with participation from an unspecified sovereign wealth fund; 3E Bioventures Capital, an investor of life sciences and biomedical technologies; and healthcare investment platform Sherpa Healthcare Partners.
Existing shareholders, including biomedical venture firm Lilly Asia Ventures and VC firm Med-Fine Capital, re-upped in the deal. The two investment companies, alongside Huagai Capital, invested in Alebund’s Series A+ round in 2020.
Founded in Shanghai in early 2018, Alebund was incubated by Lilly Asia Ventures and professionals in the nephrology field to focus on the discovery and development of novel therapies and clinical solutions for patients with kidney diseases and related chronic conditions.
With the new financing, Alebund is poised to further accelerate the R&D of its hyperphosphatemia candidate and other pipeline assets, advance the construction of its manufacturing site, and expand its talent pool.
Revere VC closes seed round to help LPs invest in VC funds
San Francisco and Hong Kong-based asset management firm Revere VC has closed its seed round at $1.35 million, as the startup aims to provide investors – from high-net-worth individuals (HNWIs) to family offices, financial institutions and beyond – a more holistic way to invest in VC funds.
The seed round saw the participation of strategic equity investor AngelList, Twitch co-founder Kevin Lin, and Nattaphol Vimolchalao, co-founder of SeaX Ventures and executive at Thailand-based Siamrajthanee Group, the startup announced last week.
Other VC insiders and strategic angels that backed Revere VC include HS Group founder & CIO Michael Garrow, Hong Kong-based family office investor Ariel Shtarkman, asset management firm Blue Future Partners, and Mindworks Capital’s David Chang, among others.
Revere VC targets to provide investors with access to a vetted, curated, and targeted menu of VC investment opportunities across themes, sectors, geographies, and regions – similar to how investors would traditionally invest in the public markets via firms like Vanguard, Charles Schwab, and iShares.
“We are approaching the ‘Vanguard’ moment for venture capital, where exposure to the asset class will increasingly be through novel investment products as opposed to the very limited ways we currently have to invest,” said Eric Woo, co-founder of Revere VC, in the statement.