12:00 AM
 | 
Feb 23, 2015
 |  BioCentury  |  Finance

Daiwa dives in

How Daiwa plans to invest first biotech fund in Japan, Taiwan

The Daiwa Corporate Investment Co. Ltd. private equity arm of Daiwa Securities Group has for years made one-off investments in biotechs from its general funds. But the group decided a favorable investment climate for biotechs in Japan and Taiwan - including new government incentives for life science companies - marked an opportune time to raise its first biotech-specific fund.

Daiwa Taiwan-Japan Biotech Fund Investment L.P. closed with an initial ¥9.3 billion ($78.1 million) in January and will make its first investment this year.

Shuntaro Kodama, a managing director at DCI Partners Co. Ltd., told BioCentury the bank started fund-raising about a year ago and said the fund is expected to reach a final close of ¥12 billion ($100.8 million) by YE15. DCI Partners is the fund's GP and part of Daiwa Corporate Investment.

The fund will invest primarily in companies focused on diseases prevalent in Asia, which he said could include those developing compounds for cancer and infectious diseases, regenerative medicine, diagnostics and medical devices. Kodama said the fund will focus more on...

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