China’s CICC raises $650m for biomedical fund
CICC Capital has reached a second close of RMB4.2 billion ($650 million) on its latest healthcare fund - the first in China to receive fast-track approval for its role in addressing COVID-19.
The vehicle - CICC Qide Innovative Biomedical Equity Investment Fund - was launched in November 2019. Three months later, it registered via the Asset Management Association of China’s “green channel”...
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