Vivo Ventures, a Palo Alto, California, Shanghai, and Chengdu, China-based healthcare investment firm has held the final close of Vivo Ventures VII at $375m.
Investors in Vivo VII include pension funds, funds of funds, university endowments, foundations, financial institutions, and family offices. In addition to existing limited partners, Vivo VII added a number of new institutional investors from the U.S., Europe, and Asia.
The fund plans to invest the capital primarily in later development stage pharmaceutical and medical device companies in the U.S. and in revenue stage healthcare companies in greater China. It intends to continue assisting companies in both countries in their efforts to forge cross-border partnerships, enabling companies to acquire new products and expand the market for their existing products. Vivo will also invest directly in public companies.
Managing partners of Vivo VII include Drs. Frank Kung, Albert Cha, Edgar Engleman, Chen Yu, and James Zhao.