Temasek to Invest in Chinese CRO-Backed Venture Fund
Posted on 10/18/2019
Formed in 2004, Hangzhou Tigermed Consulting is a China-based contract research organization (CRO) that went public on the Shenzhen stock exchange in August 2012. Hangzhou Tigermed Consulting signed a deal with Singapore’s Temasek Holdings to form a U.S. dollar investment fund called TG Sino-Dragon Fund to allocate capital to early and growth-stage startups in the CRO industry and biotechnology industry. The fund is targeting to raise a total of US$ 62 million.
Hangzhou Tigermed Consulting plans to invest up to US$ 12 million in the TG Sino-Dragon Fund through two subsidiaries, TG Mountain and TG Sky Growth. TM Mountain, which is a unit of Hangzhou Tigermed Consulting, will be the general partner of the fund. Temasek, through its unit Birchtree Fund Investments Private Limited, is also an anchor investor in the TG Sino-Dragon Fund.