China-based medical device maker Venus Medtech has agreed to form an investment fund with private equity firm DCP Capital and venture capital firm Qiming Venture Partners, DealStreetAsia reported yesterday.
Ascendum Capital Partners target medical technology developers working on devices to treat cardiovascular and lung disease. It will combine the institutional investors’ experience with Venus Medtech’s technology expertise.
Venus Medtech went public in December 2019, about 18 months after it received an undisclosed amount from DCP Capital. Its other investors included Qiming as well as Goldman Sachs and Sequoia Capital China.
The fund is headed by Serena Shao, formerly head of healthcare research for Credit Suisse China, a subsidiary of Switzerland-headquartered investment banking group Credit Suisse.
