Vivo raises $100m for Sino-US healthcare VC fund

LPs in Vivo Panda Fund I include financial institutions, corporations and family offices. The Taiwan Silicon Valley Technology Fund - a $120 million VC fund formed by Taiwan's National Development Fund (NDF) and Ministry of Science and Technology - put in $40 million, while Taiwan's Cathay Life Insurance contributed $10 million.

Vivo said in a release that Vivo Panda Fund I is intended to complement its growth and late-stage focused Vivo Capital Fund VIII, which was closed at $750 million in March last year, thereby enabling the GP to invest in all financing stages.

Sectors of interests include drug discovery, biotechnology, medical devices and diagnostic technology. The firm will continue to help companies in the US and Greater China forge cross-border partnerships, acquire new products and expand market share.

Vivo Capital, which has over $1.8 billion under management, has offices in Palo Alto, California, Shanghai, Chengdu and Beijing. Following the latest fund close, the GP also announced it has opened an office in Taipei.

Vivo started out as an US-based venture fund in 1996; mainland China investments started with a 5% allocation from Fund V, which was closed in 2005. The China share rose to 20% in Fund VI and 40% in Fund VII. The firm expects a 50-50 split between the US and China for Fund VIII.

In addition to Vivo Panda Fund I, Taiwan Silicon Valley Technology Fund invested $40 million into WI Harper Group's latest fund, which recently closed at $150 million.

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• Topics
• Greater China
• Healthcare
• Fundraising
• Early-stage
• Venture
• China
• Taiwan (China)
• USA
• Vivo Ventures