China’s Ping An Insurance Group, its largest insurer by market value, announced a plan to launch a $1 billion international fund that will invest in fin-tech and healthcare startups. In healthcare, the company offers Ping An Good Doctor, a mobile app, which has 140 million users.
The initial size of Ping An’s Global Voyager Fund will be $1 billion. Ping An’s overseas ambitions mirror those of other Chinese firms that are spending billions on overseas acquisitions in a bid to acquire emerging medical device and healthcare technologies and bring them to the fast growing Chinese healthcare market.
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