Shenzhen Capital Group debuts US$291m healthcare fund

Shenzhen Capital Group, a state-owned venture capital firm, announcedlast week that the company has launched its debut healthcare fund to raise over RMB2 billion (US$291 million).

The target amount of the first round of fundraising is RMB800 million ($116 million). The debut healthcare fund – Shenzhen Hongtu Healthcare Private Equity Fund – has already secured capital commitments from state-owned Shenzhen City Guidance Fund Investment, PingAn Real Estate Investment, ICBC, Chinese private equity firm Before Capital, and Kunpeng Capital.

According to a statementreleased on its WeChat official account, the fund will focus on the innovation and growth of the healthcare industry. The move shapes a new strategic approach toward healthcare for Shenzhen Capital, which aims to upgrade the sector with new investment expertise.

Shenzhen Capital Group invests primarily in SMEs and innovative high-tech enterprises in the sectors of IT, internet, new media, biopharma, energy, environmental protection, chemical engineering, equipment manufacturing, and consumption goods. 

As the end of May 2019, Shenzhen Capital Group had assets under management of RMB344.39 billion and had invested in 1,002 projects, covering information technology, semiconductor, advanced manufacturing, consumer goods, logistics, biomedicine, and new materials. 

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