IDG Capital Closes RMB-Denominated Healthcare Fund

IDG Capital Partners has closed a RMB-denominated fund dedicated to the healthcare sector in China, according to an announcement.

The investment vehicle took four months to close. A healthcare and health sector focused fund signals the importance the venture capital firm places on the sector.

China’s healthcare sector, on track to reach over RMB8 trillion (US$1.23 trillion) in 2020, remains one of the most attractive sectors for private equity and venture investors in 2015.

Investments reached US$3.5 billion last year, up 151% year-on-year, driven by strong growth in the pharmaceuticals and biotechnology segment, according to data from research firm ChinaVenture.

IDG Capital has previously invested in 15 healthcare companies in China, including Kanghui Holdings, Andon Health, Magnex Inc., Guangdong Baihe Medical, and Rich Healthcare.

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Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.