Chinese PE Huagai Capital builds $124m RMB continuation fund for healthcare assets
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May 24, 2021
Huagai Capital, a China-focused private equity firm that invests in healthcare, TMT, and culture sectors, has restructured its healthcare investments into an 800-million-yuan ($124.4 million) continuation fund.
Shenzhen Capital Group, a Chinese investment conglomerate with about 412.2 billion yuan ($64.1 billion) in total assets under management (AUM), co-launched the fund as its biggest limited partner (LP). Hong Kong-based TR Capital, which specialises in secondary PE investments in the Asia-Pacific region, was another cornerstone LP.
The transaction saw Beijing-based Huagai restructure six healthcare investments from three of its existing funds into the new RMB-denominated continuation fund – a vehicle built to take on the portfolio investments of a fund that is nearing the end of its lifespan. By setting up a continuation fund, LPs are given the o
Duality Biologics Completed $90 Million Series B Financing
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PRINCETON, N.J. and SHANGHAI and SUZHOU, China, May 19, 2021 /PRNewswire/ Duality Biologics (DualityBio or Company), an innovative biotech company, announced the completion of $90 million series B financing today. This round of financing was led by Lilly Asia Ventures (LAV) and jointly invested by YUNION Healthcare Fund, Huagai Capital, NRL Capital, Green Pine Capital Partners, and Oriza Holdings, etc. Series A investor WuXi Biologics (2269.HK) continued to increase its stake in this round to accelerate DualityBio s R&D progress leveraging its premier-quality integrated technology platforms. DualityBio has raised more than $120 million since its establishment in January 2020. Major investors in the previous round include King Star Capital, WuXi Biologics, 6 Dimensions Capital, and other investment institutions. The funds raised in this round will be mainly used for
China s Duality Biologics secures $90m in Series B led by Lilly Asia Ventures dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.