Startups, BioPharma

WuXi launches $250M fund to invest in life sciences startups

WuXi PharmaTech, a Chinese R&D powerhouse, is launching its second fund. It wants to invest $250 million into healthcare and life sciences startups in the U.S. and China.

The venture arm of China-based R&D powerhouse WuXi PharmaTech  is raising its second venture fund, with aims to bring in $250 million, according to a new regulatory filing.

It plans to use the funding to invest in healthcare and life sciences startups in the U.S. and China.

WuXi has yet to return MedCity News’ calls about the new fund. In the meantime, we know this: It made a capital commitment of $50 million in its first corporate venture fund, launched in 2011 with a focus on technology and life science companies. WuXi wrote in an April filing of the first fund:

We own 100% of this fund, to which we have made a capital funding commitment of up to $50 million, with an investment focus on technology and life-science companies. As of December 31, 2014, through this venture fund we had invested approximately $36.1 million in investees, including investments in biopharmaceutical companies of $32.5 million and industry funds of $3.6 million. As of December 31, 2014, we have realized $23.6 million in gains from three portfolio companies into which we had made $7.0 million of investments.

The $250 million filing likely includes this first $50 million fund. Because in that same document, it writes:

In March 2015, our board of directors approved an anchor investment commitment of up to $50 million in a newly formed venture fund, WuXi Healthcare Ventures Fund II, with expected total commitments of approximately $200 million. WuXi Healthcare Healthcare Ventures Fund II is being formed to invest in healthcare companies in the U.S. and China. The general partners of WuXi Ventures are expected to consist of three operating partners and two non-operating partners (Dr. Ge Li and Edward Hu).

Li is WuXi’s CEO, and Hu its CFO.

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