Chinese VC YuanBio Venture in the market to raise new healthcare fund

Chinese Yuan notes. Photo: Reuters

YuanBio Venture Capital, also known as bioVenture, has filed with the US Securities and Exchange Commission (SEC) to raise a new fund that is likely to continue to invest in life sciences and healthcare companies.

The Chinese venture capital firm, which focuses on early and growth-stage investments, did not specify the target amount for YuanBio Venture Capital II LP but said the offering will not last more than one year.

The filing comes more than three years after the venture investor filed to raise $150 million for Fund I. It currently has assets under management of close to 6 billion yuan ($925 million).

Established in 2013 by Jacky Chen at BioBay of Suzhou Industrial Park, YuanBio’s portfolio includes over 100 companies across new drug, medtech, diagnosis, and health services sectors. The company has been recognised as one of China’s top 10 healthcare VCs.

It has made over 39 investments – of those, it has acted as the lead investor in 21 transactions and has so far exited in three of them. So far this year, it has invested in four companies – surgical products manufacturer IntoCare, US-based medical device company Synaptic Medical, biotech firm Tavotek Biotherapeutics, and anti-cancer drug developer KYInno.

YuanBio is just one of the many fund managers that are betting on China’s healthcare industry, which is expected to see growth because of the country’s rising income and ageing population. The funding into the sector also comes amid rising global health awareness since the coronavirus outbreak, with traction seen in  China’s healthtech companies that are helping upgrade the country’s massive yet somewhat inefficient healthcare space.

Recently, Panacea venture, a Shanghai-based VC backed by Kleiner Perkins Caufield & Byers China partners James and Hai Mai, has filed to raise its second healthcare fund. Eight Roads, a global investment firm backed by US financial services major Fidelity investments, also announced the launch of its $400-million China-focused healthcare fund in May.

Addor Capital, another Chinese venture investor, closed its second health investment fund at $240.8 million to step up investments in emerging innovative drug developers in the country.

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.