07-Feb-18, Reuters
The venture capital arm of China’s largest insurer, Ping An, is targeting raising up to USD1.3 bn in two healthcare-focused funds that will seek growth-stage and pre-IPO investments.
%20Ping%20An_Reuters.jpg "Chinas Ping An Ventures to raise up to USD1 3 bln for healthtech and heathcare investments (c) Ping An Reuters")
Image: Ping An / Reuters
Ping An Ventures, set up in 2012, focused on early-stage investments in its first few years. The new funds will deepen the group's push into the healthcare sector, at a time when valuations in the fast-growing tech and healthcare industries have spiked.
The venture capital firm aims to raise USD300-500 mn in a dollar-denominated fund and CNY4-5 bn (USD640-800 mn) in a Yuan fund. They would be Ping An Ventures’ biggest dollar and yuan funds so far and would primarily invest in healthcare start-ups at home and overseas.