China merger lets loose $800 million VC behemoth
Chinese healthcare investment firms Frontline BioVentures and WuXi Healthcare Ventures are to merge, creating a venture capital giant with combined assets under management of 5.5 billion renminbi, or $800 million.
The new group, to be called 6 Dimensions Capital, will be led by Leon Chen, the founder and chief executive of Frontline. Ge Li, the WuXi AppTec chief executive and founder will become chairman of the board.
The merged company will be dedicated to the biopharmaceutical sector and will be truly trans-Pacific in focus.
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