Pro­pri­etary firm launches health­care fund in China

BioSpectrum (Asia) - - Finance News -

Eight Roads Ven­tures, the pro­pri­etary in­vest­ment arm of Fidelity In­ter­na­tional Ltd, has launched its first ded­i­cated China health­care fund, dou­bling down bets on the coun­try’s rapidly grow­ing med­i­cal sec­tor. The firm also plans to launch a China-ded­i­cated tech­nol­ogy fund. The $250 mil­lion China health­care fund will al­lo­cate 40 per cent of the cap­i­tal in ther­a­peu­tics, bet­ting on a boom in in­no­va­tive drugs in China. Bei­jing has ini­ti­ated am­bi­tious pol­icy re­forms to in­vig­o­rate health­care, part of ef­forts to meet ris­ing de­mand for qual­ity med­i­cal ser­vices. China has fore­cast to­tal health­care spend­ing will surge to 8 tril­lion yuan ($1.2 tril­lion) by 2020, as the coun­try tries to cope with a boom in its ag­ing pop­u­la­tion. That has cre­ated in­vest­ment op­por­tu­ni­ties. Shuang Rongqing, a vet­eran pri­vate eq­uity in­vestor, last month launched a $150 mil­lion cross-bor­der med­i­cal de­vice fund aimed at tap­ping into China’s huge de­mand for over­seas high-tech med­i­cal equip­ment.

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