C-Bridge Capital closes second healthcare fund at $400M
C-Bridge Capital, a Chinese private equity firm targeting the healthcare sector, has closed its second fund, C-Bridge Healthcare Fund II at its hard cap of $400 million. The latest fund as well as its first fund, which was closed at a $200 million cap in 2014, are focusing on late stage companies in the fields of biotechnology, pharmaceuticals, medical devices and health care.
The fund is keen on investing in the treatment of Hepatitis B and lung cancer, due to the growing number of smokers and pollution levels in China. Since the first quarter this year, C-Bridge has teamed up with Tianjin-based Tasly Holding Group to invest $150 million in drug developer Tianzhenshi Biotechnology Company.
It also led a $100-million funding round in pharmaceutical startup Ascletis as well as invested $25 million in medical equipment producer Anrei Medical (Hangzhou) Co Ltd. C-Bridge Capital has separately set up I-Bridge Capital, a $100-million venture capital fund, to invest in Chinese startups in pharmaceutical, biotech and healthcare services.
In August last year, I-Bridge teamed up with Israeli biopharma firm BioLineRX Ltd to launch a new medical developer in China. C-Bridge currently has around $700 million in assets under management. It has more than 20 team members at offices in Shanghai, Beijing, Boston and