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.

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