Tonghe Yucheng Announces Oversubscribed Fundraise of $533M and RMB 2.06B, Total AUM Exceeds RMB 10B
VCBeat (WeChat ID: vcbeat) has learned that on December 7, 2017, Tonghe Yucheng announced the oversubscribed closing of its first US dollar fund and first RMB fund following its merger. The funds reached sizes of $533 million and RMB 2.06 billion, respectively, exceeding the original targets of $450 million and RMB 1.5 billion.
Tonghe Yucheng was formed in May 2017 through the merger of Tonghe Capital and Yucheng Capital. With deep coverage and focus on both the Chinese and U.S. markets, it has become one of the largest investment firms in the healthcare sector.
Investors participating in the subscription for Tonghe Yucheng’s U.S. dollar fund include renowned industry investors, select endowments, alternative asset managers, and sovereign wealth funds; investors participating in the subscription for Tonghe Yucheng’s RMB fund include well-known fund-of-funds managers, insurance institutions, and industry investors.
Regarding the successful fundraising of the new fund within a mere six months, Dr. Chen Lianyong, Founding Partner and CEO of Tonghe Yucheng, stated, “The Tonghe Yucheng team’s capabilities in pioneering innovative investment models and creating value have been widely recognized. I am deeply honored by the trust and support extended to our team by seasoned investors in the industry. We have assembled a professional investment team with deep coverage across the life sciences sector on both sides of the Pacific Ocean. Our original commitment to nurturing the industry ecosystem remains unwavering. We aim to further uncover innovative technologies and products, build platform-type companies, and help entrepreneurs translate their industrial visions into successful business practices through the development of this ecosystem.”
Dr. Li Ge, Founding Partner and Chairman of Tonghe Yucheng, stated, “We are delighted to see that the investment community shares our team’s focus on investment opportunities in the healthcare sector. I firmly believe that the infusion of newly raised capital will better enable Tonghe Yucheng to solidify our highly differentiated investment strategy and further strengthen our leadership position in healthcare investing.”
About Tonghe Yucheng
Tonghe Yucheng is a leading investment firm focused on the healthcare and medical sector, with deep expertise and extensive coverage in both the Chinese and U.S. markets. Tonghe Yucheng boasts a professional team of over 30 investment and operational experts, with offices in Shanghai (China), Boston (U.S.), Hong Kong (China), and San Francisco (U.S.). The firm currently manages four U.S. dollar-denominated funds and three RMB-denominated funds, with total assets under management exceeding RMB 10 billion. To date, it has cumulatively invested in and nurtured nearly 60 companies.
Tonghe Yucheng was formed in May 2017 through the merger of two specialized and complementary healthcare investment firms with a presence in both China and the United States: Tonghe Capital and Yucheng Capital. The merged entity, Tonghe Yucheng, has become one of the largest specialized investment institutions in the industry, serving as a powerful engine for driving innovative investment opportunities in the life sciences and healthcare sectors across the Pacific.