Early exits on China plays

BioVeda China has an unusual history for a biotech VC, as the Chinese venture fund has several profitable companies among the six in its portfolio. That is likely to change as the firm invests in more early-stage companies, but for the moment that record is serving to bolster LP interest in its next fund.

BioVeda China began investing with its first fund of $30 million in May 2005, when the firm was under the umbrella of BioVeda Capital in Singapore. Originally, BioVeda Capital allowed international LPs including TIF Ventures and Temasek Holdings (both investors on behalf of the government of Singapore), as well as private corporations and high net worth individuals, to invest mostly in U.S. biotechs...