China-based medical equipment producer Jiangsu Yuyue Medical Equipment & Supply and private equity firm Sharewin Investment announced yesterday they are setting up a RMB1bn ($145m) healthcare investment fund, STCN reported.
The firms will jointly manage the fund, which is targeting areas such as medical services, biopharmaceutical companies and medical instrument and equipment developers.
Yuyue and Sharewin each provided approximately $14.5m of the capital. The fund’s limited partners include Danyang Investment Group, Shanghai International Trust and an affiliate of State Development & Investment Corporation as well as unnamed private companies.
The vehicle aims to become an investor in the top three companies across a range of areas. It has so far revealed the identities of three portfolio companies, including Wanli Cloud, a medical imaging technology provider also backed by e-commerce group Alibaba.
The other two recipients of funding from the as yet unnamed fund are medical rehabilitation product maker Xinyi Technology and heating pad developer Wenyou Technology.
