The US$400 million fund will follow Eight Roads’ core strategy of healthcare investments in China, which is to develop a comprehensive healthcare ecosystem across the industry value chain and around critical diseases.
The new fund will invest in and build innovative and transformational healthcare and life science companies with disruptive technologies and innovative business models that address the unmet market demand. It will primarily focus on early-stage investment opportunities in the healthcare industry, covering therapeutics, med tech, healthcare services and healthcare IT/digital health.
“Eight Roads believes in making a meaningful impact on global health, welfare, innovation and productivity while building extraordinary businesses. The launch of our latest healthcare fund reflects our confidence in the capacity of China’s innovation and enormous opportunity China holds as its healthcare market continues to mature. The new fund will be supported by the unrivalled reach and resources of our powerful global ecosystem, which includes our sister venture arm in the U.S., F-Prime Capital” remarked Daniel Auerbach, Senior Managing Partner and Head of Global Ventures at Eight Roads.
“We are proud of our remarkable credentials in healthcare investment and unique capability of building transformational companies in area of high unmet needs in China;” stated Jarlon Tsang, Managing Partner and Head of China at Eight Roads. “With the new fund, we will continue to partner with aspiring healthcare founders to develop game-changing businesses which set the bar in the market.”
Today, Eight Roads has backed over 50 healthcare companies in China which sit across the healthcare industry value chain and have formed an ecosystem with strong synergetic effect. These investments span drug discovery and development (WuXi Apptec, Innovent Biologics, Hua Medicine, Adagene, Insilico Medicine, Westlake Therapeutics, Semma Therapeutics, OcuMension), domestic leading med tech (EyeBright, Nanos Medical, b-ONE, LenoMed, RedPine), traditional and innovative healthcare services (DeltaHealth, BangEr Orthopaedic Hospital, Gushengtang, Arion, TreeENT, OST, KnowYourself), and digital solutions that improve the efficiency of medical payment and health care (Medbanks, MediTrust, FuCunBao, Haici Technology, Wanhu Health).
Globally, Eight Roads has an extensive network of investors and operators in offices across China, Japan, India, Europe and the US. To date, it has invested in more than 200 companies globally in healthcare, of which 34 have completed an initial public offering (IPO) on a stock exchange in mainland China, Hong Kong or the US, including WuXi Apptec, Adagene, Beam Therapeutics, Denali Therapeutics, EyeBright, Hua Medicine, Innovent Biologics, Laurus Labs, NKF, OcuMension, etc.