Healthcare-Focused HighLight Capital Reaches First Close Of Third RMB Fund

Chinese investment company HighLight Capital announced today that it has reached the first closing of its third RMB-denominated fund by collecting nearly 70% of its targeted capital amount to invest in healthcare companies, said HighLight Capital in a statement released on its WeChat official account.

The fund, kicked off by HighLight Capital in September 2018, has seen "the strong support from both new and existing limited partners," said HighLight Capital in the statement. The company did not disclose the financial details of the fund. It did not immediately respond to China Money Network seeking comment.

Founded in 2014 and headquartered in Shanghai, HighLight Capital has over RMB6 billion (US$888.45 million) in assets under management, as indicated on Chinese corporate database Tianyancha. According to the company’s website, HighLight Capital typically invests in four fields in the healthcare sector, namely healthcare services, medical devices, mobile healthcare and pharmaceuticals.

The company said that its investment strategy spans all stages through the growth of investees with an emphasis on the early and expansion stage. Its investment size can range from less than one million to hundreds of millions of U.S. dollars per transaction.

HighLight Capital announced to near complete raising RMB1.5 billion (US$229 million) for its second RMB-denominated fund in late March 2016.

It jointly led a RMB550 million (US$80.06 million) pre-IPO round of financing in Chinese biopharmaceutical company BrightGene Bio-Medical Technology Co. in early January 2019. Sequoia Capital China was the other leading investor in the round.

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