After sinking $300M into SF fund last year, Hong Kong conglomerate launches $100M arm in Shanghai
Last year, Chinese investor Nan Fung Group — once a textiles maker, now a real estate and life sciences investment conglomerate — was the solo backer of a brand new $300 million VC fund in San Francisco called Pivotal bioVenture Partners. Now, the same investor is putting up $100 million for a similar operation in Shanghai: Pivotal bioVenture Partners China.
The venture was founded by Vincent Cheung, the grandson of industrial tycoon Chen Din Hwa, the late founder of Nan Fung Group. Cheung, a former biochemistry student at the UC Berkeley, is now the COO and managing director at Nan Fung and managing partner to the SF-based Pivotal.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.