US-headquartered venture capital firm Sequoia Capital China has formed separate partnerships with genomics technology producer Illumina and insurance firm China Pacific to invest in healthcare startups.
Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina is a healthcare incubator focused on China-based startups with applications in genomics. It will be accepting applications until the start of June 2021.
Illumina already has two accelerators in Cambridge, UK and the San Francisco Bay Area in California. Sequoia China had previously set up the US-based corporate’s Digital Intelligent Incubator.
Francis deSouza, Illumina’s CEO, said: “Together with Sequoia Capital China, we will now partner with leading entrepreneurs in China to build genomics startup companies that unlock powerful breakthrough genomics applications and clinical sequencing solutions that harness the unique strengths and dynamic markets in China.”
Sequoia China has also partnered local insurer China Pacific to create a healthcare fund of undisclosed size covering biopharmaceutical, medical devices, medical services and digital health technology developers.
