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BVCF holds $200m final close for third fund

4 Apr 2014

china beijing_sqChinese life sciences-focused private equity firm BVCF has held a final close for its third fund.

BVCF III has secured $200m from LPs including Adveq, IFC, Novartis, BlackRock, Munich Private Equity Partners, Avanz Capital, Investor AB, Maginc Stone and New Enterprise Associates, according to the Asian Venture Capital Journal.

The third fund is more than double the size of BVCF’s second vehicle, which was close don $90m in 2008, three years after the firm secured $21m for its maiden fund.

BVCF targets growth-stage life sciences and healthcare companies in China in various sectors including pharmaceuticals, biotechnology, traditional Chinese medicine, healthcare services and environmental biotech.

The firm’s founder and managing partner Zhi Yang said that the fund will partner with US venture capital firms for crossb-roder deals, according to the report.

BVCF’s portfolio companies include antibiotics developer MicuRx, which raised a $25m Series B round last August.

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