has closed its dollar-denominated Fund

Guangdong-based venture capital firm Sherpa Healthcare Partners has closed its dollar-denominated Fund II focusing on early- to growth-stage investment in China’s medical industry, the company said on Tuesday, riding the wave of a financing frenzy among the country’s medical technology startups.

The fund will mainly provide financial support to China-based companies engaged in biotech research, biomedicine development, medical equipment manufacturing, medical diagnostics and medical services.

Sherpa did not disclose how much money it raised for the fund, but said that it was oversubscribed by investors including public pension funds, sovereign wealth funds, and asset management companies.

Last month, London-headquartered venture capital firm Eight Roads Ventures, an early investor in Alibaba, announced the launch of a $400 million fund to focus on early-stage investment in China-based medtech and life science companies.

Contact reporter Ding Yi (yiding@caixin.com) and editor Heather Mowbray (heathermowbray@caixin.com)


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