CICC Capital raises CNY1.6bn

The private equity arm of Chinese state-backed investment bank has held a first close on a biomedicine fund.

  • Fund name: CICC Qide Xiamen Innovative Biomedical Fund
  • Amount raised: CNY1.6 billion
  • Target size: CNY1.5 billion
  • Stage of fundraising: First close

CICC Capital has held a first close on CICC Qide Xiamen Innovative Biomedical Fund at CNY1.6 billion. The vehicle will target the biological medicine, biotech and life science industries across the Asia-Pacific region.