China’s healthcare-focused PE firm C-Bridge raising $650m third fund: Report

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Chinese private equity firm C-Bridge Capital is raising its third healthcare-focused fund with a target corpus of $650 million, six months after it closed its second vehicle last year, a report from PEI has said.

This will be C-Bridge’s largest vehicle and like its previous funds, will focus on late-stage companies in biotechnology, pharmaceuticals, medical devices and healthcare.

In July 2017, the firm closed its second fund, C-Bridge Healthcare Fund II, at its hard cap of $400 million. It closed its first fund, a $200-million vehicle, in 2014.

The news of a third fundraise comes soon after the firm joined other investors in a consortium that invested $38 million in a series A financing for CMAB Biopharma, a full-service contract development and manufacturing organization (CDMO) providing process development and manufacturing services for biologic products.

As a healthcare dedicated private equity firm, with $800 million of assets under management, C-Bridge Capital’s current portfolio includes China’s leading players in pharmaceuticals, medical devices, diagnostics and healthcare services. Among its investments are drug developer Tianzhenshi Biotechnology Company, pharmaceutical startup Ascletis and medical equipment producer Anrei Medical (Hangzhou).

It has also set up I-Bridge Capital, a venture capital fund to invest in Chinese startups in pharmaceutical, biotech and healthcare services. With headquarters in Shanghai, it has offices in Beijing, New York, Boston and San Diego.

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