Quark Venture, China’s GF Securities launch $500m life sciences fund

Quark Venture Inc. and GF Securities said this week that they’re launching a $500 million global health sciences venture fund based in Vancouver. The fund is the largest of its kind in Canada and will invest primarily in biotechnology and health science companies.

Quark Venture said investments have already begun, with a 1st $100 million transaction with an undisclosed company.

“This partnership will capitalize on Quark Venture’s strong, experienced, globally connected team with its track record in technology sourcing, screening and commercialization, as well as on GF Securities’ integrated strengths in investment, capital solutions, biotechnology IPO listing and expertise in China’s biomedical industry,” GF Securities CEO Lin Zhihai said in prepared remarks.

“Our goal is to build a diversified portfolio by investing in the best-in-the-world biotechnology and health sciences companies that are driving game-changing innovations in drug development, medical devices, health IT and emerging convergent technologies,” added Quark Venture CEO Karimah Es Sabar. “The decision to make Vancouver the headquarters for Quark Venture and the Global Health Sciences Venture Fund validates Canadian innovation, the strength of the life science industry here and the quality of its technologies. We anticipate that internationally competitive Canadian companies will do well having a fund of this size and caliber at their doorstep, and we believe such a fund will energize the sector and be a magnet for further capital.”

“GF Securities has a strong commitment to build and diversify their portfolio by sector and geographically,” Quark Venture chairman Jesson Chen said. “Our visions are aligned and we see this as a long-term collaboration.”

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