WuXi AppTec joins a dozen of limited partners (LPs) to invest US$5 million in Creacion Ventures I. The joint venture aims at creating a US$200 million fund for investing into life science opportunities in European Union (EU), Greater China and North America.
WuXi AppTec, known for developing biotech, pharmaceutical and medical devices and products, will inject US$5 million through its affiliate WuXi PharmaTech Healthcare Fund I LP. The investment is approximately 3.22 percent of the total capital commitments made for the venture.
Wei Li and Ching Zhu established the WuXi LP. Wei Liis the co-founder of WuXi's venture arm WuXi Healthcare Ventures (WXHV), while Ching Zhu is a veteran who has worked with several investment and capital firms like Novitas Capital.
Notably, Creacion Ventures Management, a limited liability company in Cayman Islands, launched Creacion Ventures in January 6. The pilot fund targets to raise approximately US$200 million as per a previous SEC filling on January 17.
Presently, Creacion Ventures I has collected US$155.33 million in capital from 14 limited partners including WuXi AppTec. Additionally, the parent company, Creacion Ventures Management has planned to inject approximately US$2.33 million or 1.5% of the targeted fund.
The Creacion Ventures fund aims to include incubators in Greater China and finance businesses in the US.
