Jinxin Fertility Commits RMB 200 Million to Warburg Pincus’s First RMB Healthcare Fund to Advance High-Quality Development of China’s Healthcare Industry

On November 27, JINXIN FERTILITY signed a limited partnership agreement with Warburg Investment, committing to subscribe to no less than RMB 200 million in investment interests in Warburg Investment’s first RMB-denominated fund.This marks another significant increase in commitment by an industry limited partner (LP) to Warburg Pincus’s inaugural RMB fund, following WuXi AppTec.Earlier, WuXi AppTec announced that it would subscribe to no more than RMB 600 million in investment shares of Warburg Pincus’s first RMB-denominated fund. As of press time, the fund had completed subscriptions for nearly 90% of its target size.

Industrial LPs’ strong preference for Warburg Pincus’s inaugural RMB fund is inextricably linked to the healthcare investment team’s impressive track record and solid investment expertise.As one of the largest and most active investment firms in China’s healthcare industry, Warburg Pincus has been deeply engaged in the sector for nearly two decades, navigating multiple industry cycles and investing in numerous benchmark enterprises and innovative companies. To date, Warburg Pincus has cumulatively invested over RMB 16.8 billion in China’s healthcare industry, with portfolio companies including United Family Healthcare, Insilico Medicine, Huatang Dachang, Zhenshiming, High Vision Medical, Amcare Women & Children’s Hospital Group, Hygeia Healthcare, and Allist Pharmaceuticals, delivering excess returns and long-term stable performance to its limited partners (LPs).

This September, Warburg Pincus’s inaugural RMB fund was established in Yixing. With an expected total size of RMB 3 billion, the fund focuses on investments in the broader healthcare sector. It will strategically prioritize upstream life sciences, the out-of-hospital market, medical services, and distribution services. By leveraging strategies such as acquisitions and spin-offs, the fund aims to facilitate industry consolidation among platform companies, accelerate the localization of global medical innovations in China, and inject vitality and momentum into the high-quality development of China’s healthcare industry.

Fang Min, Managing Partner of Warburg Pincus China and Head of the Healthcare Sector“We are deeply grateful to industrial limited partners (LPs) such as JINXIN FERTILITY for their trust and support in Warburg Investment. The continuous deep engagement and profound insights of industrial LPs in the healthcare sector hold significant importance for Warburg’s first RMB-denominated healthcare fund. We look forward to working hand in hand with industrial LPs like JINXIN FERTILITY to continuously uncover high-quality investment opportunities and help more outstanding Chinese healthcare enterprises grow and thrive.”

Notably, this marks another collaboration between JINXIN FERTILITY and Warburg Pincus. Since its initial equity investment in JINXIN FERTILITY in 2017, Warburg Pincus, as the company’s largest institutional investor, has leveraged its extensive resources and rich experience in the global healthcare sector to provide comprehensive support across strategic development, capital operations, talent acquisition, and brand building. This partnership has significantly enhanced JINXIN FERTILITY’s overall competitiveness, offering robust support for its accelerated growth, deepened global strategic layout, and successful public listing.

Ms. Fan Yulan, Founder and Chairwoman of Jinxin GroupJinxin stated: “Jinxin remains firmly optimistic about the long-term development of China’s healthcare industry. We fully recognize that progress follows a dialectical path, characterized by both forward momentum and inevitable twists and turns. As a leading private healthcare provider, Jinxin will continue to refine its core assisted reproductive technology (ART) services through sustained dedication, while maintaining and strengthening its comprehensive medical service competitiveness. Furthermore, leveraging our inherent strengths, we are strategically expanding into full-lifecycle healthcare services to broaden our competitive moat. As an industrial capital investor, we also maintain strong confidence in the growth prospects of the private sector and private healthcare. Warburg Pincus, as a top-tier investment institution in China’s healthcare sector, boasts outstanding investment performance and a robust team. By supporting Warburg Pincus’s inaugural RMB-denominated healthcare fund, we aim to foster synergistic development between Jinxin and partners across the upstream and downstream industry chain, thereby contributing to the establishment of a sustainable healthcare innovation ecosystem in China.”

As China’s largest private healthcare service provider specializing in assisted reproductive technology, JINXIN FERTILITY is committed to delivering premium integrated fertility services to patients. The company continues to deepen its expertise across multiple specialized disciplines along the care continuum, contributing to the nation’s high-quality population development and the improvement of women’s and children’s health. With decades of development, JINXIN FERTILITY’s medical institutions have established significant advantages in clinical success rates, medical quality, patient experience, and operational management, earning a strong reputation among patients.