Panlin Capital has announced the successful closing of its second venture capital fund, the Hangzhou Panlin Xukang Fund, which will concentrate on innovative biopharmaceuticals, medical devices, and biotechnology sectors. This marks the first fund established by Panlin Capital in Hangzhou and the second venture capital fund raised by the firm this year, following the closure of the Chengdu Panlin Xiangxu Fund in March, focused on business-to-business and technology sectors. Over the past two years, Panlin Capital has raised a total of over RMB 1.5 billion (USD 210 million).
The Panlin Xukang Fund receives support from a diverse group of new institutional investors, including Hangzhou Science and Technology Innovation Group, Hangzhou Xiaoshan International Venture Capital, Chengdu Science and Technology Innovation Investment Group, as well as listed companies like HitGen (SHA: 688222), LEO Group (SHE: 002131), I-Mab (NASDAQ: IMAB), and financial institutions such as Zhongyuan Trust and Chasestone Group.
The fund has completed investments in nearly 20 high-quality companies, with a focus on local enterprises in Hangzhou and industrial clusters in Xiaoshan District. These include Codon, a DNA data storage technology development platform; Levinthal, a protein rational design company; TinkerBio, a microfluidic chip R&D and manufacturing total solution provider; DNano MetaBio, a biotechnology company designing self-assembled nucleic acid nanocarriers; Leadbio, a small-caliber regenerative blood vessel R&D company; and Innoforce, a CDMO company specializing in cell and gene therapy.
Panlin Capital has also played a role in assisting companies in relocating their headquarters to Hangzhou’s Xiaoshan district to take advantage of local policies supporting the biopharmaceutical industry.- Flcube.com
