Vivo Ventures closes seventh fund at $375m
Vivo Ventures, the US and Greater China-focused healthcare investment firm, has closed its seventh fund at $375 million. The firm now has more than $1 billion under management.
Investors in the seventh vehicle include pension funds, funds-of-funds, university endowments, foundations, financial institutions, and family offices, Vivo said. In addition to LPs in previous funds, the firm signed up a number of new institutional investors from the US, Europe, and Asia. In September 2011, Arizona Public Safety Personnel Retirement System revealed it had committed $30 million to the fund.
Vivo, which has offices in California, Shanghai and Chengdu, plans to invest primarily in later-stage pharmaceutical and medical device companies in the US and in revenue-stage healthcare companies in China. Forging cross-border partnerships between companies in the two countries, enabling them to acquire new products and reach new markets, will also remain an area of focus.
The firm's China portfolio includes vaccine manufacturer Changsheng Changchun, orthopedic device maker KangHui Medical, drug developer Lee's Pharmaceutical, heparin raw material and API producer NKF Pharmaceuticals, and catheter company Synaptic Medical.
In May of last year, Vivo appointed James Zhao as managing partner and head of China operations, as James Huang moved on to KPCB.
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