Eight Roads Ventures launches $250m China-dedicated healthcare fund

Eight Roads Ventures, the proprietary investment arm of Fidelity International Ltd, launched its first dedicated China healthcare fund on Tuesday, doubling down bets on the country’s rapidly growing medical sector.

The firm, which said it also plans to launch a China-dedicated technology fund, said the $250 million China healthcare fund will allocate 40 percent of the capital in therapeutics, betting on a boom in innovative drugs in China.

“We’re about to witness an explosion of innovative drugs in China,” said Liu Weimin, partner at Eight Roads, which has invested in over 150 Chinese companies including Alibaba Group, WuXi AppTec and Innovent Biologics.

He cited supportive government policies, less cumbersome drug approval procedures, and an influx of capital into the healthcare sector.

Beijing has initiated ambitious policy reforms to invigorate healthcare, part of efforts to meet rising demand for quality medical services.

China has forecast total healthcare spending will surge to 8 trillion yuan ($1.2 trillion) by 2020, as the country tries to cope with a boom in its aging population.

That has created investment opportunities. Shuang Rongqing, a veteran private equity investor, last month launched a $150 million cross-border medical device fund aimed at tapping into China’s huge demand for overseas high-tech medical equipment.

Daniel Auerbach, head of Asia at Eight Roads, said the launch of specialized funds “reflects our confidence in the evolution of the China market and forms part of a strategy to more precisely target our healthcare and technology expertise.”

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Reuters

Singapore Reporter/s

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.