Taiwan-based electronics maker Hon Hai Precision Industry has set up a $15m offshore venture capital fund to invest in healthcare and biotechnology companies.
In a statement reported by MarketWatch, Hon Hai said the fund was called Burrage Capital Healthcare Offshore Fund II.
In April, Christiana Goh Bardon, formerly an analyst at Fidelity Investments’ Pyramis Global Advisors and manager at venture capital firm MPM Capital, launched her maiden healthcare hedge fund, Burrage Capital, according to news provider HFMWeek.
Dr Bardon confirmed by email the connection between her firm and Hon Hai. She said: "Hon Hai is interested in understanding areas outside of technology and has a long-term vision of moving beyond manufacturing and technology. Biotechnology is a growth opportunity in Asia but I became involved as the most active biotech market is the US."