Grail hauls in mon­ster $300M round from Chi­nese in­vestors amid ru­mors about Hong Kong IPO

The can­cer screen­ing up­start Grail got start­ed with more than a bil­lion dol­lars in launch mon­ey from some of the biggest gam­blers in the US ven­ture com­mu­ni­ty. And now some promi­nent Chi­nese in­vestors want in­to the game, an­te­ing up a $300 mil­lion mon­ster round to fu­el the de­vel­op­ment of new prod­ucts.

Hong Kong-based Al­ly Bridge Group led the fi­nanc­ing along­side Hill­house Cap­i­tal Group and 6 Di­men­sions Cap­i­tal. They are joined by Blue Pool Cap­i­tal, Chi­na Mer­chant Se­cu­ri­ties In­ter­na­tion­al, CRF In­vest­ment, Huang­Pu Riv­er Cap­i­tal, ICBC In­ter­na­tion­al, Se­quoia Cap­i­tal Chi­na, and WuXi NextCODE. No specifics were giv­en re­gard­ing the use of pro­ceeds, ex­cept that they will “sup­port on­go­ing de­vel­op­ment and val­i­da­tion of prod­ucts for the ear­ly de­tec­tion of can­cer in Grail’s clin­i­cal re­search pro­gram.”

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