Healthcare
China biotech player Reistone raises $100m
Reistone, a novel drug developer incubated by Jiangsu Hengrui Pharmaceuticals, has raised a Series A of nearly USD 100m led by Huagai Capital.
TPG, Temasek invest $136m in India's Dr Agarwal’s
TPG Growth and Temasek Holdings have invested a combined INR 10.5bn (USD 136m) in Indian eyecare chain Dr. Agarwal’s Eye Hospital, setting up an exit for ADV Partners.
LeapFrog leads $61m investment in India's Redcliffe Lifetech
LeapFrog Investments has led a USD 61m round for India’s Redcliffe Lifetech, a diagnostics platform focused on non-communicable diseases, including heart disease, cancer, and diabetes.
IDG backs China surgical robot start-up
IDG Capital has joined a Series A round of several hundred million renminbi for China’s Sustao, which is developing a platform for fully automating surgical robots.
India dental start-up Toothsi raises $40m Series C
India’s Toothsi, a direct-to-consumer start-up that makes own-branded transparent dental aligners and braces, has raised a USD 40m Series C round featuring Eight Roads Ventures.
Fund focus: MassMutual Ventures widens remit
Having started a Southeast Asia specialist, MassMutual Ventures has broadened its regional coverage to include everything outside of China. Europe is also part of the equation for Fund III
Singapore mRNA vaccine developer raises $140m
RVAC Medicines, a Singapore-based company involved in developing messenger RNA (mRNA) vaccines for COVID-19, has closed a Series B round that takes its overall funding to USD 140m.
Quadria eyes $1b for Fund III, emphasizes health-tech
South and Southeast Asia healthcare specialist Quadria Capital is broadening its scope to include areas such as healthcare technology and digital health insurance for Fund III, which is expected to be up to USD 1bn in size.
MassMutual Ventures raises $300m for Asia, Europe
MassMutual Ventures (MMV), a global venture capital firm that counts US-based Massachusetts Mutual Life Insurance as its sole LP, has launched a USD 300m fund that will invest in Asia Pacific and Europe.
General Atlantic leads $300m Series D for Biofourmis
Biofourmis, a Singapore founded and now US-based operator of a health analytics platform, has achieved unicorn status with the closing of a USD 300m Series D round led by General Atlantic.
Vision Fund backs Japan's AI Medical Service
SoftBank Vision Fund 2 has led a JPY 8bn (USD 70m) Series C funding round for AI Medical Service, a Tokyo-based medical technology company that has developed an artificial intelligence-enabled (AI) endoscopy diagnostic solution.
China digital CRO Elixir raises $52m
Elixir, a China-based clinical research organisation (CRO), has raised a USD 52m Series A round from Lyfe Capital, Chow Tai Fook Investment, and Sinovation Ventures.
China virotherapy specialist Binhui Biopharm raises $47m
Binhui Biopharm, a Chinese biotech firm specialising in oncolytic virus immune-oncology, has raised CNY 300m (USD 47m) in an extended Series B round led by Yangtze River Pharmaceutical Group.
KKR pursues $15b Australia healthcare take-private
A KKR-led consortium has proposed to acquire Ramsay Health Care, an Australia-listed hospital operator with a footprint that encompasses Australia, Europe, and other parts of Asia, at a valuation of approximately AUD 20.1bn (USD 14.9bn).
Creaegis targets $500m India fund
Creaegis, an India-based private equity firm established by Prakash Parthasarathy, formerly founding CIO and managing partner of PremjiInvest, is looking to raise USD 500m for its debut fund.
China stem cell drug developer Baylx raises $47m
Baylx, a Beijing-based drug developer that utilises stem cell technology, has raised CNY 300m （USD 47m）across two rounds - a Series B and a Series B extension.
Lighthouse leads $65m round for India's Medikabazaar
Lighthouse Funds has led a USD 65m funding round for Medikabazaar, an India-based B2B medical supplies marketplace, at a valuation of USD 700m.
SeaX wins Thai corporate support for $60m second fund
SeaX Ventures – or Southeast Asia Exponential Ventures – has closed its second early-stage fund on USD 60m, surpassing the USD 50m target.
China's METiS Pharmaceuticals raises $150m
METiS Pharmaceuticals, a Hangzhou-based drug formulation company has raised USD 150m through two funding rounds led by PICC Capital and China Life PE.
BGH continues fight for Australia's Virtus Health
BGH Capital is refusing to give up its pursuit of Australian fertility care business Virtus Health, tabling a revised buyout bid even after the company entered a binding agreement with CapVest Partners.
Fund focus: India’s HealthQuad bulks up for Fund II
Indian health-tech VC firm HealthQuad has achieved a quantum leap in capacity to invest with its second vintage as foreign capital discovers the local opportunity set and thinks globally about impact
HealthQuad raises $162m for India healthcare VC fund
HealthQuad, an India-focused healthcare VC investor backed by Quadria Capital, has closed its second fund on USD 162m, more than twice the original target.
CDH, Huaxing lead $120m Series B for China’s InnoRNA
CDH Investments and Huaxing Healthcare Fund have led a USD 120m Series B for InnoRNA, a China-based mRNA drug developer. Existing investors CPE and Fangyuan Capital re-upped.
IIFL Private Equity targets $524m for latest India pre-IPO fund
IIFL Private Equity is seeking up to INR 40bn (USD 524m) in commitments for its latest India pre-IPO fund as part of a broad fundraising push intended to secure INR 70bn to INR 80bn across multiple strategies over the next 12 months.