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The firm, which said it also plans to launch a China-dedicated
technology fund, said the $250 million China healthcare fund
will allocate 40 percent of the capital in therapeutics, betting
on a boom in innovative drugs in China.
"We're about to witness an explosion of innovative drugs in
China," said Liu Weimin, partner at Eight Roads, which has
invested in over 150 Chinese companies including Alibaba Group,
WuXi AppTec and Innovent Biologics.
He cited supportive government policies, less cumbersome drug
approval procedures, and an influx of capital into the
healthcare sector.
Beijing has initiated ambitious policy reforms to invigorate
healthcare, part of efforts to meet rising demand for quality
medical services.
China has forecast total healthcare spending will surge to 8
trillion yuan ($1.2 trillion) by 2020, as the country tries to
cope with a boom in its aging population.
That has created investment opportunities. Shuang Rongqing, a
veteran private equity investor, last month launched a $150
million cross-border medical device fund aimed at tapping into
China's huge demand for overseas high-tech medical equipments.
Daniel Auerbach, head of Asia at Eight Roads, said the launch of
specialized funds "reflects our confidence in the evolution of
the China market and forms part of a strategy to more precisely
target our healthcare and technology expertise."
(Reporting by Samuel Shen and John Ruwitch; Editing by Susan
Fenton)
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