China-based venture capital firm Panlin Capital has closed a RMB1bn ($148m) fund with limited partners including unnamed corporates, government guidance funds, funds of funds and individual backers, China Money Network reported yesterday.
Founded in 2010, Panlin Capital has so far launched a total of 10 funds focused on various industries.
The latest vehicle will focus on drug developers targeting major diseases, medical device manufacturers and digital transformation services providers as well as smart consumer hardware producers.
Panlin did not specify how much money it was looking to invest per deal or which stages it will target.
Li Yuhui, founding managing partner of Panlin Capital, said: “Our VC strategy has gradually matured and our performance has also been reflected… At the same time, investing in entrepreneurs among scientists and innovators is one of our investment focuses.”
The firm’s portfolio already includes some 20 healthcare technologies through two previous funds, focused on areas such as cancer, cardiovascular and metabolic diseases.
