$420M fund comes to LYFE, with plans for a trans-Pacific investment strategy introducing US biotechs to China
Less than two years after its launch, Shanghai-based LYFE Capital has come up with an upsized biotech venture fund. And this time it’s spreading its wings directly into the US market, where it plans to start making some new bets on a slate of life science ventures interested in developing a China strategy.
LYFE II came up with $288 million and RMB 900 million, or $131 million, for a total of about $420 million. In late 2015 LYFE debuted with $298 million in its first fund, racing through that at a fast pace. This new fund also includes a new office in Palo Alto, CA, where the venture group plans to add more stakes in the pharmaceutical, medical device, diagnostics, animal health, healthcare services and digital health sectors.
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