Vivo Capital, a global healthcare investment firm that has backed Chinese companies including medical tech platform WuXi AppTec, has held the first closing of a new RMB-denominated fund at 4 billion yuan ($600 million) with a total fundraising target of about 10 billion yuan ($1.5 billion).
The first closing attracted capital commitments from both new and existing limited partners (LPs), said Vivo Capital in a post on its WeChat official account on Monday. All of them are institutional investors, including several local government-guided funds, commercial banks, and biopharmaceutical companies in China, it said.
