Singapore: Trendlines forms Shanghai JV with Shoushan Wealth, to launch RMB and USD funds

Skyline of Shanghai at night.

The Trendlines Group, an Israeli medical technology incubator listed on the SGX Catalist that focuses on developing and commercialising medical and agricultural technologies, has launched a joint-venture (JV) company – China-Israel New Trend (Taizhou) Medical Technology Co. Ltd. – with Shoushan Wealth Holdings.

Shoushan Wealth Holdings is part of the Shoushan Wealth Management Group, a Chinese private equity (PE) investment, investment banking, funds management and financial services company.

It provides comprehensive wealth-management service for high-net-worth individuals, families and enterprises. Headquartered in Shanghai, it operates centres in Shenzhen, Beijing and other locations in China.

The JV, for which execution of the term sheet was announced on 16 December 2016, is headquartered in Shanghai with additional staff in Israel. Trendlines has a 51 per cent interest in the JV, with Shoushan holding the remaining 49 per cent.

The JV will provide services to select Israeli, Singaporean and other medical device companies, including support in establishing manufacturing capabilities in China, obtaining regulatory approval for the sale of products in China, and managing strategic partner relationships.

Zhang Jun, CEO of Shoushan, commented: “Being deeply networked in the Chinese economy, Shoushan sees the opportunity in China for innovative medical solutions, but also the challenges that foreign companies experience in penetrating our market.”

“The Shoushan/Trendlines JV and Trendlines will engage the best innovative medical technology companies and offer, through the combined strengths of our JV, a unique way into China, thus creating tremendous value for all.”

The core of the JV’s business model is to facilitate the establishment of new manufacturing and commercialization partnerships for the Israeli, Singaporean and other medical device companies.

Trendlines and Shoushan intend to raise US dollar and Chinese RMB venture funds, which they will manage, to invest in Trendlines’ portfolio companies and other Israeli, Israel-related, Singaporean and other medical device companies. The parties intend to offer a combination of financial investment by the Funds and assistance in penetrating China through the JV.

Todd Dollinger, Trendlines’ Chairman and CEO, said: “Trendlines views the Chinese market as critical to maximizing the success of our portfolio companies and the agreement with Shoushan is central to supporting and developing our companies in China. We have been working in China for some five years; our first Chinese employee, Eddy Wang, joined us as Director of our China Office three years ago.”

“We have been patient in building our China-based business; in Shoushan – with which we have spent more than a year developing our relationship and modus operandi – we have found a partner with which we share common values. Our work with Shoushan is part of Trendlines’ dedication to and active involvement in our portfolio companies,” Dollinger added.

Also Read:

Singapore: MSPL seals Technicae buy; Backstreet Academy grant; Trendlines’ new venture

Singapore: Trendlines Group to exit portfolio firm BioSight for $1.3m

Trendlines to stay focussed on medtech, agtech themes: CEO Todd Dollinger

China: Infinity Group, Neusoft to kick off $250m fund to grow Israeli medtech firms

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.

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.