Chinese life sciences and healthcare venture capital firm WuXi Healthcare Ventures closed its $290m fund.
WuXi Healthcare Ventures II, L.P., which exceeded its initial target of $200m, builds on its predecessor fund launched in 2011, which invested in such companies as Juno Therapeutics, Agios Pharmaceuticals, Foundation Medicine, Callidus Biopharma (later acquired by Amicus Therapeutics), Novira Therapeutics, Twist Biosciences, Hua Medicine, and Adagene.
Led by Wei Li, Managing Partner, the firm now has more than $350 million under management to execute its “find in U.S. and build in China” investment strategy, which has positioned itself as an early-stage venture capital firm focused on cross-border opportunities in the life sciences.
It has offices in Shanghai and Boston.
The anchor investor and sponsor of this new fund is WuXi PharmaTech, an open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology, and medical device industries, with operations in China and the United States.