BioVeda Capital May Set Up Guangzhou Life Science Fund

ChinaBio Today -- BioVeda Capital, a venture capital firm based in Shanghai, is talking about establishing a life sciences fund of between one and two billion RMB ($150-$300 million) for companies located in the Guangzhou Development Zone. Yang Zhi, a BioVeda China Fund Founder and Managing Partner, met recently with Xue Xiaofeng, an official with Guangzhou Development Zone, to discuss the possibility of cooperation. Guangzhou reportedly initiated the discussion. Source of the development funds was not disclosed in press reports.