Ping An Ventures, the corporate venturing unit of China-based insurance group Ping An, is currently seeking to raise $1.3bn in capital for two healthcare-oriented funds. Both funds will invest at growth and pre-initial public offering stage businesses. The corporate venturing firm is aiming to pool between $300m and $500m for a dollar-denominated fund, and between RMB4bn and RMB5bn ($640m to $800m) for a renminbi-denominated fund.
Launched in 2012, Ping An Ventures has been investing in deals spanning across a wide range of sectors, including science and technology, media, internet and mobility technology, consumer platforms, finance and healthcare. The bubble chart below, generated by GCV Analytics, shows some of the largest rounds in which Ping An Ventures has participated.
There is no dearth of promising life sciences and healthcare investments in Ping An Ventures´ portfolio: treatment developer Tmunity Therapeutics, which is developing T cell immunotherapy treatments for patients suffering from cancer, infectious diseases and autoimmune diseases that will work by activating T cells; Rani Therapeutics, which has developed a process to convert injectable drugs into pills; gene sequencing service provider Annoroad; biopharmaceutical developer KBP Biosciences, which works on treatments for cardiovascular disease and hypertension in chronic kidney disease; Singapore-based Fullerton Healthcare, which offers enterprise healthcare services to more than 25,000 companies; and China-based clinic operator Gushengtang, which provides traditional Chinese medicine treatments.
