An investment fund formed by a real estate developer in China has set up headquarters in Irvine and plans to specialize in startup companies in the healthcare sector.
Huaqi Capital Inc. is fully funded by its Beijing-based parent company.
Chief Investment Officer Wanwan Yang discussed the plans to build a U.S. portfolio focused on life sciences during a presentation at the Southern California Biomedical Council’s 18th Annual SoCalBio Conference in Long Beach this month. She indicated the Irvine-based fund will start with between $20 million and $30 million to invest in early to mid-stage companies, with an emphasis on diagnostic and cosmetic medicine.
“Irvine is the innovation hub for the medtech industry,” said Yang, adding that a first investment is expected to come next spring.
Huaqi Capital’s parent company has a China-based investment fund with a $150 million portfolio that includes a variety of assets, including entertainment-related enterprises, energy and real estate.
The Irvine-based fund is its first foray into healthcare-focused investments.
—Sherry Hsieh
