The pharmaceutical company has set a $471m target for an investment unit that will fund healthcare startups.
China-based drug developer Shanghai Pharmaceuticals aims to raise RMB 3bn ($471m) for a corporate venturing fund to invest in healthcare startups, China Money Network reported on Friday, citing a regulatory filing.
Shanghai Pharma will commit $39m to the fund, and will initially look to raise $157m for its first close.
Shanghai Pharma led a $174m round for Shanghai Pharmaceuticals Big Health Yunshang, an online presciption platform subsidiary, last month, contributing $141m of the funding.
The Big Health Yunshang round…
