Fidelity’s Eight Roads Venture Launches $250M China Healthcare Fund
Fidelity’s investment branch Eight Roads Ventures (formerly Fidelity Growth Partners) announced its dedicated healthcare fund for China, reinforcing its acceleration into the rapidly growing medical and device industries in this country. Eight Roads has been in China for over 20 years and over the course invested in 150+ Chinese companies including house names of Alibaba Group, WuXi AppTec and Innovent Biologics.
As far as the timing for creating a dedicated fund for Chinese healthcare industry, Eight Roads quoted the updates of government policies, faster drug and device approval procedures, and an influx of capital into the healthcare sector.
And indeed, China’s CFDA and other related government agencies have started far-reaching policy reforms. This will allow them to innovate healthcare to satisfy the increased demand for quality medical services by the Chinese. This is due to the continued uplift of the living standard and the aging population. As evidence predicts the countrywide healthcare spending across China will increase to 8 trillion yuan or $1.2 trillion US by 2020.
There seems to be a current influx of money into the Chinese healthcare sectors. For example, a PE firm Shuang Rongqing launched a $150 million fund for bringing overseas high-tech medical equipment into China.
About China Med Device, LLC (CMD) CMD provides turn-key solution for Western medtech companies with regulatory and commercialization services. CMD helps its clients accelerate China entry and growth by offering: market Intelligence and research; CFDA regulatory services (premarket submission, clinical evaluation, clinical trial design & management, post market compliance and legal representation), and other commercial services. If you have an inquiry or feedback regarding our services please email us at info@ChinaMedDevice.com.