Eight Roads, a global investment firm backed by US global financial services giant Fidelity Investments, on Tuesday announced the launch of its $400-million China-focused healthcare fund.
Dubbed Eight Roads China Healthcare Fund V, the vehicle will follow the firm’s core strategy of investments in China, which is to develop a comprehensive healthcare ecosystem across the supply chain and around critical diseases, the firm said in a statement.
Eight Roads will tap early-stage opportunities in therapeutics, medtech, healthcare services, healthcare IT and digital health.
Further, the firm will also invest in building new generation healthcare and life science companies that address unmet demand.
“With the new fund, we will continue to partner with aspiring healthcare founders to develop game-changing businesses which set the bar in the market,” said Eight Roads managing partner and head of China Jarlon Tsang in the statement.
“The new fund will be supported by the unrivalled reach and resources of our powerful global ecosystem, which includes our sister venture arm in the US, F – Prime Capital,” remarked Daniel Auerbach, Senior Managing Partner and Head of Global Ventures at Eight Roads.
Eight Roads had launched its maiden China healthcare fund at $250 million in 2017. To date, the firm has made investments in over 50 healthcare companies.
Some of its portfolio firms include Hong Kong-listed pharma WuXi AppTec and Innovent Biologics, medical equipment providers such as EyeBright, speech therapy firm Orient Speech Therapy, mental health community and lifestyle brand KnowYourself, among others.
According to its official website, Eight Roads has so far invested as much as $1.1 billion across 110 companies in China’s healthcare and technology sectors over the past 25 years.
With its global teams across China, Japan, India, Europe and the US, Eight Roads has also backed over 200 global healthcare-dedicated companies. Its portfolio includes 34 listed companies including Nasdaq-listed Beam Therapeutics and Adagene, besides Hong Kong-listed Hua Medicine and OcuMension.