Singapore’s sovereign wealth fund GIC Private has led an $85 million financing round for Chinese pharmaceutical startup Harbour BioMed, extending its long streak of private equity investment in China so far this year.
GIC Private was joined by China Life Private Equity Investment and Vertex Ventures in the series B round of financing, the young pharmaceutical startup said in a statement on Monday.
Taiwanese technology company AdvanTech and Legend Capital, the venture capital arm of Chinese conglomerate Legend Holdings, also invested in the current round. They invested $50 million in the company’s series A funding round when it was founded in December 2016....
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