China’s 6 Dimensions raises $844m for debut healthcare fund

The vehicle comprises two pools of capital: a US dollar-denominated tranche that closed at $533 million and renminbi tranche of RMB2.06 billion ($311 million). The targets were $450 million and RMB1.5 billion, respectively.

Investors in the US dollar tranche include sovereign wealth funds, asset managers, and foundations, while the renminbi vehicle received commitments from domestic fund-of-funds and insurance companies, the company told local media.

The fund invests in early-stage and growth-stage healthcare companies in China and the US, covering biologics, medical devices, diagnostics, medical services and healthcare IT. 

WuXi Healthcare was formed in 2011 as a spin-off from WuXi Apptec’s corporate venture department, while Frontline was founded in 2012 by Leon Chen, a former partner at Eight Roads. WuXi Apptec is the parent company of PE-backed WuXi Biologics, which listed in Hong Kong earlier this year.

Following the merger in May, 6 Dimensions became one of the largest healthcare-focused VC firms covering China and the US, with a combined assets under management of over RMB100 billion. The investment team comprises 24 professionals – including seven partners and seven venture partners – who are located in Shanghai, Boston, Hong Kong and San Francisco.

Last month, 6 Dimensions co-led a $28 million Series B round of funding for AnchorDx, a China-based company that develops new clinical diagnosis products based on next-generation sequencing technology.

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• Topics
• Greater China
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• Renminbi fund
• China
• healthcare
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