China-based investment firm with a focus on life sciences BioVeda China Fund (BVCF) is working on launching a $400 million fund, according to China Money Network quoting unnamed sources.
Having been founded in 2005, the private equity and venture capital firm had previously established three funds — one in 2006, the second in 2008 followed by another in 2014. Its third fund, BVCF III, hit its final close with $200 million from Adveg, Mayo Clinic Foundation, International Financial Corporation, Obviam, and Novartis.
