The new RMB-denominated fund will combine investment capital and industry expertise and target the intersection of AI and life sciences as well as applications beyond healthcare such as agriculture and energy.
Hong Kong-based asset management firm Value Partners Group, AI drug discovery Insilico Medicine and construction services provider Pudong Development Group are joining together to create a renminbi-denominated fund to invest in AI-enabled medical technologies.
Value Partners’ onshore private fund manager VP Shenzhen will manage the fund, with Insilico Medicine providing industry and technical expertise.
The fund will focus on the intersection of AI and life sciences, with Insilico pointing to areas including AI-enabled drug discovery, biologics, longevity technology, chemistry and brain-computing interfaces, as well as applications beyond healthcare such as agriculture and energy.
The companies did not disclose details of the fund’s target size, investment period or launch date, but confirmed that it would combine industrial capital with investments across the AI and life sciences ecosystem.
The fund builds on an existing relationship between the parties. Value Partners, Pudong Venture Capital (Pudong Construction’s investment arm) and Pudong Development Group jointly led Insilico Medicine’s $123m series E round in March 2025. The company subsequently listed in Hong Kong in December 2025 and joined Southbound Stock Connect in March 2026. The new fund extends that relationship from direct investment to a broader investment and industrial collaboration model.
For Pudong Development, the fund also fits its strategy of combining investment capital with industrial platforms and operating infrastructure. The group has participated in four industrial funds with a total subscribed capital of RMB 1.6bn ($237.9m), targeting areas including AI, biopharmaceuticals and semiconductors.
The structure reflects a wider trend among corporate investors towards sector-specific vehicles that combine financial capital with access to corporate expertise and commercial infrastructure. In this case, the partners are positioning the fund as a mechanism to connect AI technology with life sciences companies and Pudong’s existing industrial ecosystem.
Oishani Mitra
Oishani Mitra is the content manager for Global Corporate Venturing.
