Legend Capital completed fund raising to establish a USD fund for health technology at a size of over USD 200 million. Among them, the Asian Infrastructure Investment Bank (AIIB) committed USD 30 million in equity investment. The fund operates in parallel with other funds managed by Legend Capital to make joint investments primarily in biotechnology, medical technology, digital healthcare, and professional services. The establishment of domestic and overseas parallel private equity funds is conducive to the development of Chinese institutions in terms of broadening their international vision, expanding the scope of project selection, and improving international investment capabilities and influence. At the same time, these funds can help Chinese startups obtain more capital support.

Relevant policy

Notice on the Master Plans for the Pilot Free Trade Zones in Beijing, Hunan and Anhui and the Regional Plan for Expansion of the Pilot Free Trade Zone in Zhejiang

Extended Reading

On September 21, 2020, the State Council issued the Notice on the Master Plans for the Pilot Free Trade Zones in Beijing, Hunan and Anhui and the Regional Plan for Expansion of the Pilot Free Trade Zone in Zhejiang, which clearly supported the launch of domestic and overseas parallel private equity funds in a market-oriented approach. According to the work plan of the CPC Beijing Municipal Committee and the People's Government of Beijing Municipality, Beijing Local Financial Supervision and Administration works actively to promote the implementation of the "two zones" policies, conduct in-depth surveys, understand the needs of enterprises, strengthen the awareness of service, and strongly support relevant institutions in setting up domestic and overseas parallel private equity funds.