Shanghai Pharma Seeks $469M For Healthcare Venture Fund

Chinese drug maker Shanghai Pharmaceuticals Holding Co., Ltd. plans to launch a venture capital investment fund to back promising healthcare start-ups, with a fundraising target of RMB3 billion (US$469 million), according to a securities filing.

The fund will first seek to raise RMB1 billion (US$160 million), while Shanghai Pharma says it will commit RMB250 million.

Earlier in August, a six-months-old healthcare O2O (online-to-offline) start-up founded by Shanghai Pharma completed RMB1.112 (US$174 million) series A funding from Inc., IDG Capital Partners, and other investors.

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