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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