Shanghai Pharmaceutical plans to invest 20 million US dollars to set up overseas venture capital fund

Another overseas US dollar fund was established This time, the LP of the fund is Shanghai Pharmaceutical On February 27, A-share listed company "Shanghai Pharmaceutical" announced that its overseas wholly-owned subsidiary, Shanghai Industrial Pharmaceutical Technology (Group) Co., Ltd., intends to invest 20 million US dollars in the establishment of the fifth phase of U.S baipeisi venture capital fund (source: Baidu pictures) it is reported that Shanghai Industrial Pharmaceutical Technology (Group) Co., Ltd will be the cornerstone investor and limited partner As early as February 22, 2017, Shanghai Industrial Pharmaceutical Technology (Group) Co., Ltd signed the limited partnership contract with a.m Pappas & Associates management V, LLC, a wholly-owned subsidiary of Pappas capital, LLC in Shanghai According to the announcement, the fund is expected to be established in February 2017, with a target scale of US $70 million to US $150 million and a term of 10 years As the general partner of the fund, a.m Pappas & Associates management V, LLC will mainly focus on investment projects in biotechnology, special drugs, diagnosis, medical equipment, drug distribution and other fields It is worth mentioning that the four funds previously managed by Pappas capital and LLC have a good performance, have rich investment experience and good relationship network in the field of biological science, and can enable investors to provide project resources and acquire more opportunities for industrial integration M & a while obtaining venture capital gains Shanghai Pharmaceutical is a national state-owned holding pharmaceutical industry group It was founded on January 18, 1994, with Zhou Jie as its legal representative It was listed on Shanghai Stock Exchange on March 5, 2010 Its main business covers the whole industry chain of pharmaceutical R & D and manufacturing, distribution and retail In fact, in addition to the fifth phase of the U.S baipeisi venture capital fund, an overseas US dollar fund, Shanghai Pharmaceutical Co., Ltd subscribed 200 million yuan in cash and held 19.8% of the shares on March 19, 2016 Shanghai Pharmaceutical Co., Ltd and Shanghai Lianyi, Shanghai Lianhe and Shanghai xintou co sponsored the establishment of Shanghai Lianyi investment center, focusing on China and Israel's medical health (medical devices Investment in medical informatization / information service, health industry, life science, biotechnology, wearable equipment) and information technology (artificial intelligence, virtual reality, smart city, key Internet technologies and services, automatic driving, information security, intelligent hardware, chip design, computer software, cloud computing, data, etc.) Among them, Shanghai Lianhe is a professional investment company wholly owned by Shanghai municipal government, and Shanghai xintou is a strategic and exemplary investment platform in the field of information industry set up by Shanghai municipal government to accelerate the construction of Shanghai Information Port and comprehensively improve the level of Shanghai's national economy and social informatization According to this announcement, the company's participation in the investment and establishment of the fifth phase of baipeisi venture capital fund is in line with the company's strategic development plan for international transformation The company can take Pappas capital, LLC as an opportunity to enter the international market, which is helpful for the company to tap project resources in the United States, so as to obtain more opportunities for industrial integration and M & A At the same time, through the cooperation with Pappas capital, LLC, it is conducive to enhance the international investment experience of the company's investment team, improve the risk control system, and effectively improve the company's sustainable development ability.