Chinese healthcare investment specialist 3H closes USD II fund at over $ 300 million
Hong Kong and Shanghai-based healthcare-focused investment firm 3H Health Investment has permanently closed its second US dollar oversubscribed fund north of $ 300 million.
The vehicle, dubbed 3H Health Investment Fund II, will continue to focus on “cutting-edge products, therapies and technology platforms that can meet clinical and health needs in China and around the world,” according to a statement on Tuesday.
Fund II has raised commitments from sovereign wealth funds, insurance companies, funds of funds (FOFs), family offices and companies in the health sector. Institutional investors in Fund I also reinvested in the second fund.
With this vehicle, 3H’s Total Assets Under Management (AUM) is over $ 600 million. The company had previously established an I US dollar fund and a Chinese yuan fund.
The sizes and conditions of deployment of the first two funds were not disclosed. 3H did not immediately respond to requests for comment from DealStreetAsia.
3H was formed in July 2016 by three healthcare investors at Hony Capital, one of China’s largest private equity (PE) funds, famous for its investments in ByteDance, owner of TikTok, and in the Chinese unit of WeWork. The company invests in sub-sectors including pharmaceuticals, health services, health technology infrastructure, medical data management, diagnostic instruments and other medical devices, as well as consumer health products. .
By far, the company has supported more than 20 companies, many of which have raised new funding this year.
He invested in VisionX, an ophthalmology medical device supplier that has raised more than $ 100 million in a Series B round with backing from Singapore’s Temasek, Sequoia Capital China and others. 3H is also an investor in genome-editing startup EdiGene which had secured 400 million yuan ($ 62.6 million) in a Series B + round led by Loyal Valley Capital in April. Meanwhile, Edge Medical Robotics, a manufacturer of surgical robots backed by 3H, raised nearly 600 million yuan ($ 93.8 million) in January.
Its holding company Keymed Biosciences went public in Hong Kong in July, raising HK $ 3.1 billion ($ 398.3 million). Other owned companies listed in Hong Kong include cancer drug developer InnoCare, vaccine developer CanSino Biologics and diabetes management medical device supplier MicroTech Medical.