Hanwha strikes Oxford Bioscience partnership

Jan 13, 2011 • James Mawson

News provider Fortune, which revealed a $66m initial round of fundraising for Oxford Bioscience Partners, said Hanwha would help the US firm in Korea.

Oxford Bioscience Partners, a US-based venture capital firm, has reportedly held a $66m first close on its planned $100m to $150m sixth fund after gaining backing from the South Korean government and local industrial conglomerate Hanhwa.

News provider Fortune, which revealed the fundraising, said the Korean commitment would allow Oxford to invest in the country.

Fortune said: "So why Korea, as opposed to ‘hotter’ Asian start-up markets like China or India? Part of the answer obviously lies in the…

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