Med-Fine Capital Closes New USD Fund, Advancing China Biotech's Global Innovation and Expansion
SHANGHAI, June 16, 2025 /PRNewswire/ -- Med-Fine Capital, a VC firm focused on investing in early-stage healthcare innovation in China, has announced successful close of its second USD fund. The fund will continue investing in cutting-edge biotech startups and supporting next-gen healthcare related technologies.
Investor Confidence Despite Market Challenges
This successful fundraising comes at a pivotal moment, as China's biotech investment market undergoes a period of adjustment. Jack Zhou, Managing Partner of Med-Fine Capital, stated, "In the current environment, the continued trust and support from our investors are particularly valuable. It is not only a recognition of our past performance and professional capabilities, but also a strong endorsement of our commitment to Med-Fine's global development strategy."
Med-Fine Capital remains optimistic about the future:
1. China's Rising Innovation Strength: From 2015 to 2024, the number of innovative drugs from China receiving first-time global approval increased from 3 to 39, a 12-fold rise, elevating China from the 3rd to 2nd place worldwide. Simultaneously, Chinese biotech companies have accelerated global expansion through cross-border BD transactions, reaching a total transaction value of USD 63.5 billion in 2024 (up 22.59% YoY), with 24 mega-deals (over USD 1 billion each) totaling USD 43 billion, nearly 20% of the global total.
2. Rebound of the Hong Kong Capital Market: In May 2025, IPO proceeds in the Hong Kong stock market reached HKD 55.8 billion, the highest since March 2021. Year-to-date fundraising has reached HKD 77.4 billion, nearly 90% of the 2024 full-year total. The Hang Seng Tech Index rose by 14.9%, significantly outperforming other major global markets.
3. Exceptional Investment Capability: The Med-Fine Capital team combines deep industry knowledge, a strong global network, and proven investment capabilities.
A Decade of Focus on Early-Stage Innovation
In the past decade, Med-Fine Capital has consistently focused on the Chinese biotech innovation ecosystem, guided by its investment philosophy of discovering early-stage opportunities and helping them grow. The firm has invested in more than 60 innovative startups so far. This newly raised fund is Med-Fine's second USD fund, marking its establishment and steady growth in the USD investment market. LPs include global renowned FOF, Hong Kong financial institutions, Singaporean family offices, and corporations in the healthcare sector.
Backing Startups with a Global Edge
"Med-Fine Capital's investment team possesses strong industry expertise and connections, in addition to a wealth of global experience and perspective," said Dr. Vince Deng, Partner and Head of Biotech Investment at Med-Fine Capital. "Our focus areas include oncology, autoimmune, metabolic and CNS diseases, where we invest in globally competitive and differentiated innovation. We actively support promising Chinese biotech companies to go global, helping them in all important aspects including R&D, clinical development, and regulatory affairs during their global expansion."
Med-Fine Capital's approach is not only about early and precise investment. It emphasizes on deep and hands-on support to entrepreneurs to achieve exceptional return. Staying true to a "begin with the end in mind" philosophy, the firm works backward from market demand and exit possibilities to shape company development. "Med-Fine pays special attention to co-founding new ventures with serial entrepreneurs and selecting highly promising directions and assets in the right time and fashion, to reduce investment risk and create maximum return. We have already co-founded and invested in several highly promising biotech companies through the above-mentioned investment philosophy and approach in this USD fund, including Allink Biotherapeutics and VelaVigo. Most of them have already secured one or more arounds of follow-on funding led by top-tier investors. These outcomes strengthen our confidence and encourage us to keep doing what we have done again and again," added Dr. Vince Deng.
Long-Term Partners, Global Vision
Mr. Jack Zhou emphasizes, "Med-Fine Capital is dedicated to investing in globally competitive pipeline assets. We are not just capital providers but aim to be long-term strategic partners to our portfolio companies. Our goal is to build a research-driven investment system rooted in clinical value and technological innovation, with global market value in mind and meeting unmet medical needs as the end game. We continuously strengthen our core competencies in cross-border resource integration and cross market cycle value investment to help patients globally living a better life."
About Med-Fine Capital
Med-Fine Capital specializes in investment in healthcare and life sciences. The management team boasts a global perspective, deep industry expertise, extensive resources, and professional investment experience. Med-Fine manages several RMB and USD funds, focusing on early-stage value discovery in biotech, device, diagnostics, digital health and healthcare services. To date, Med-Fine has invested in more than 60 companies, including Mabworks, Eccogene, Zion, LYNK, Pharma Legacy, MagAssist, Alebund, Allorion, ImmVira, Degron, Allink and Castalysis.
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SOURCE Med-Fine Capital