China-based chemistry services provider Bellen has received tens of millions of dollars in a series D round featuring Legend Capital, the venture capital firm spun off by conglomerate Legend Holdings, DealStreetAsia reported yesterday.
Huagai Capital and Eastern Bell Capital co-led the round while CICC Capital’s CICC Qichen fund, Apricot Capital and Insight Capital also invested, according to a WeChat post cited by DealStreetAsia.
Bellen provides chemistry services for pharmaceutical developers, assisting with chemical synthesis and the development of research and manufacturing processes. The cash will support the upgrade of its contract research and development and manufacturing offering.
Apricot Capital, financial services firm China Merchants Bank and Qianhai Fund of Funds co-led a nine-figure renminbi round for the company in late 2018.
Legend Capital co-led Bellen’s $38m series B round in the year before with China International Capital’s Zhongjinqichen fund, investing alongside video game developer Dianjing Shijie, Gefeiyueren and Dachen Chuanglian.
The company had previously secured an undisclosed amount in a 2016 series A round led by THG Ventures, the venture capital vehicle for Tsinghua University’s Tsinghua Holdings unit.
Photo courtesy of Bellen Chemistry.
