A year after collecting $200m in series A funding, BGI gene sequencing spinoff MGI Tech has closed a $1bn series B round co-led by IDG Capital and CPE Capital.
MGI Tech, a gene sequencing technology developer spun off by China-based genomics services provider BGI, has completed a $1bn series B round, DealStreetAsia reported today.
Venture capital group IDG Capital and private equity fund CPE Capital co-led the round, which included investment bank China Renaissance’s New Economy Fund and Goldstone Investment which, like CPE, is part of state-owned investment manager Citic.
Brokerage firm Huatai Securities’ private equity arm, Huatai Zijin Investment Fund, filled out the round along with fund manager…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
