China-based ophthalmology hospital group Aier Eye Hospital is set to establish a RMB 1bn ($160m) fund together with Tibet-based Dazi Zhongyu Health Venture Investment Fund, according to China Money Network.
Hunan Aier Zhongyu Ophthalmology Healthcare Industry Investment Fund will receive 9.8% of its capital from Aier, while Zhongyu will invest 0.2% of the capital and be responsible for raising the remaining 90% from third parties. The two will jointly act as fund manager.
The fund will focus on industry consolidation and the acquisition of eyecare technology startups in China.
Aier Eye Hospital Group is a chain of more than 20 eye-care hospitals across China. It previously announced in March 2014 that it would launch a RMB 200m mergers and acquisitions fund with Shenzhen Qianhai Orient Venture Financial Holding focused on industry consolidation.
The group also committed RMB 100m to Beijing Huatai Ruilian mergers and acquisitions fund in the same month in order to invest in medical services, pharmaceutical, technology, media and telecommunications, retail and environmental companies in China.