Chinese investment firm WuXi Healthcare Ventures just closed out its second fund a $290 million. It plans to continue its mission of pursuing cross-border businesses in the life sciences – with a strategy of “find in U.S. and build in China,” the company says in a statement.
The Shanghai- and Boston-based firm exceeded its initial target of $200 million. Building on its first fund, launched in 2011, the company now has more than $350 million under management.
WuXi has invested in some high profile biopharma companies, including Juno Therapeutics, Agios Pharmaceuticals, Foundation Medicine, Callidus Biopharma, Novira Therapeutics, Twist Biosciences, Hua Medicine and Adagene.
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“China and the United States are the two largest and most dynamic healthcare markets in the world and countries where our firm has deep investment expertise and experience,” Wei Li, the company’s managing partner, said in a statement. “The cross-border nature of our investment strategy and our appetite for early-stage innovation and entrepreneurship have aligned us well with the macro-trends in both countries.”
