China’s Quan Capital seeks $300m for second healthcare fund

Genetics is a key element of healthcare puzzles.

China-based healthcare-focused venture firm Quan Capital is looking to raise $300 million for its second fund, according to a filing with the SEC dated August 30.

The target is twice the amount the firm managed to raise for its first fund, Quan Venture Fund L.P.

Closed at $150 million in August last year, the inaugural fund focused its investments on novel therapeutics, as well as related areas such as enabling technologies and companion diagnostics.

Among the companies backed by the fund was Crescendo Biologics Ltd, a developer of multi-functional biologics with a focus on novel targeted T-cell engagers. Quan Capital participated in the startup’s $70-million Series B financing round earlier this year, which was the largest disclosed Series B biotech financing in Europe in 2018.

Other companies in the firm’s portfolio include Tempest Therapeutics, Centrexion Therapeutics, resTORbio and ARMO BioSciences.

Based in Shanghai, Quan Capital is a venture capital firm that invests globally in healthcare, pharmaceutical, and biotech startups. On its website, the firm says it identifies, incubates and invests in early and growth stage companies with a specific focus on therapeutic biotech/pharma, enabling technologies and Companion diagnostic & precision medicine.

Quan Capital is investing in a space that has seen increasing interests from venture capital and private equity players.

Earlier this year, Panacea Venture, a venture capital firm backed by Kleiner Perkins Caufield & Byers (KPCB) China partners James Huang and Hai Mi, was reported to be raising $150 million for a new fund, while European investment firm Tikehau Capital and Singapore-based SPRIM Ventures announced the first close of their joint healthcare-focused venture capital (VC) fund at $50 million.

In July, Japanese robotics venture firm Cyberdyne Inc announced the establishment of an $82-million fund that will invest in companies that operate in the healthcare and cybernic technology spaces – a new domain of research that integrates neuroscience, robotics, systems engineering, information technology, engineering, economics, among others.

Also Read:

TPG, KKR frontrunners to manage Abraaj’s healthcare fund

KPCB China partners-backed Panacea to raise $150m healthcare fund

SG: Tikehau Capital, SPRIM Ventures’ joint healthcare fund makes first close at $50m

Singapore Reporter/s

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

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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.