Summary of Proposed Investment
Project Number
23574
Company Name
BIOVEDA CHINA FUND II, LP
Date SPI Disclosed
Dec 3, 2004
Country
China
Industry
other
Projected Board Date
Jan 31, 2005
Status
Completed
Sector
Private Equity/Venture Cap Fund - Country
Department
Regional Industry - MAS Asia & Pac
Environmental Category
FI
Previous Events
Approved : Apr 11, 2005
Signed : May 10, 2005
Invested : Jun 28, 2005
Project Description
IFC is considering an equity commitment of up to $5 million to the BioVeda China Fund (the fund or BioChina), an investment vehicle to be established by a select group of institutional investors, to invest in Chinese biotech and life sciences companies. The Fund will be managed by BioVeda Capital (the manager or BioVeda), a Singapore/US headquartered biotech investment firm which currently manages a $32 million venture fund that has invested in the US and Asia. The fund is targeting a first closing in early 2005. BioChina targets to raise up to $25 million to be invested in 3-5 companies to whom the fund would provide both expansion capital and management expertise in order to help to grow their businesses significantly. Exits are expected to be achieved through a stock exchange listing or a strategic sale.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Damien Lim, General Partner
BioVeda Capital
Phone: (65) 6238-9200
Fax: (65) 6733-3832
E-mail: damien@Biovedacapital.com
BioVeda Capital
Phone: (65) 6238-9200
Fax: (65) 6733-3832
E-mail: damien@Biovedacapital.com