<article><a href="https://www.dealstreetasia.com/stories/china-legend-capital-tsing-capital-china-env-fund-76638/">Legend Capital</a>, the venture and growth capital arm of China&#8217;s Legend Holdings Ltd, has made the first close of its second RMB healthcare fund at RMB1 billion ($156 million), according to a repost of a media report on its official WeChat account.</article>

<a href="https://www.dealstreetasia.com/stories/china-legend-capital-tsing-capital-china-env-fund-76638/">Legend Capital</a>, the venture and growth capital arm of China&#8217;s Legend Holdings Ltd, has made the first close of its second RMB healthcare fund at RMB1 billion ($156 million), according to a repost of a media report on its official WeChat account.
The news was first reported by Chinese news daily 21st Century Business Herald.
The overall fund size is between $240 million and $310 million. Based on the announcement, the fund will target investments in innovative medicine, precision treatment, medical devices, diagnostic technologies and medical services, and genetic technologies. It will also consider both early- and later-stage investments.
“This year is a big year for the medical investment industry. It is also a harvest year for the medical investments of Legend Capital,&#8221; said the firm&#8217;s managing director Wang Junfeng. 
As of April 2018, Legend Capital has invested a total of more than $700 million in more than 70 companies, with the firm acting as the lead investor in 85 per cent of them.
Among these investments, pharmaceutical manufacturing firm WuXi Biologics, medical laboratory firm Guangzhou Kingmed and pharmaceutical firm Yunnan Hongxiang Yixintang Pharmaceutical Co. Ltd have gone public. 

According to Wang, Legend Capital has realised more than $1.57 billion in returns in the past three years.
“From the traditional perception of the market, medical investment is a long-term, slow-growing industry. Many people want to invest, but they are also afraid of being hurt. Experienced investors will do well in portfolio management and balance their medicine,&#8221; he said.
Founded in 2001, Beijing-based Legend Capital manages several USD funds and RMB funds with total assets under management of RMB35 billion ($5.5 billion). It and focuses on innovation and growth enterprises with operations in China or related to China.
Most recently, the venture capital firm backed Chinese car-sharing startup <a href="https://www.dealstreetasia.com/stories/tencent-sunline-like-chuxing-96700/">Like Chuxing&#8217;s</a> $20-million seed and Series A combination round as well as self-driving car startup Pony.ai&#8217;s <a href="https://www.dealstreetasia.com/stories/self-driving-car-startup-pony-ai-raises-112-million-series-90392/">$112-million Series A</a> round alongside other VC firms.
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The fund will target investments in innovative medicine, precision treatment, medical devices, diagnostic technologies and medical services, and genetic technologies.

China's Legend Capital raises $156m for second RMB healthcare fund

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China's Legend Capital raises $156m for second RMB healthcare fund

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