} ?>
(Yicai Global) June 29 -- Global venture capital fund Eight Roads Ventures, which has earlier invested in China's WuXi AppTec and Innovent Biologics, has created a USD400 million fund to focus on early-stage investment opportunities in China’s medical sector.
The fund will invest in creative healthcare and life science companies in drug development, medical devices, diagnostics, treatments, as well as telemedicine, the London-headquartered company said in a statement on WeChat today.
The firm didn't disclose the source of financing. Eight Roads Ventures' global network, including its sister fund F-Prime Capital in the US, will support the new fund as much as it can, said Daniel Auerbach, senior managing partner.
Eight Roads was formed by Boston-based Fidelity Investment Group in 1969. The fund has teams in China, Europe, India, and Japan. It has invested in more than 250 companies, including 50 Chinese medical firms, and manages USD7 billion in assets, per its website.
Editor: Emmi Laine, Xiao Yi