Ping An's corporate venturing unit is looking to raise up to $500m for a dollar fund and $800m for a renminbi fund, both of which will target healthcare investments.

Ping An Ventures, the corporate venture capital vehicle for China-based insurance group Ping An, is looking to raise $1.3bn in capital, Reuters reported today, citing a person with direct knowledge of the matter.

The unit is seeking between $300m and $500m for a dollar-denominated fund, and between RMB4bn and RMB5bn ($640m to $800m) for a renminbi-denominated fund, both of which will invest at growth and pre-initial public offering stage.

Founded in 2012, Ping An Ventures participates in deals covering a…