The nine-figure renminbi sum follows a series A round of undisclosed size two years ago that was backed by THG Ventures.
Bellen Chemistry, a China-based laboratory services provider backed by Tsinghua Holdings’ THG Ventures unit, has received a nine-figure renminbi (RMB100m = $14.6m) amount of series C financing, ChinaBio Today has reported.
The round was co-led by venture capital firm Apricot Capital, financial services firm China Merchants Bank and Qianhai Fund of Funds, the investment vehicle closed at $3.3bn in early 2016.
Founded in 2007, Bellen designs and develops molecules for use by clients in the pharmaceutical and chemical industries. It also creates processes for customers to produce large quantities of specialised chemical compounds.
Legend Capital, the venture capital firm formed by Legend Holdings, co-led Bellen’s $38m series B round in September 2017 with Zhongjinqichen, a private equity fund managed by investment bank China International Capital.
Game developer Dianjing Shijie, Gefeiyueren and Dachen Chuanglian also contributed to the series B round, which came after THG Ventures, an investment vehicle for Tsinghua University’s Tsinghua Holdings arm, led a series A round of undisclosed size for the company in 2016.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
