Lilly Asia Ventures has closed its fourth healthcare fund at $450 million, a hard cap. This is over three times the $100 million of its previous fund, which closed in 2015. The new fund, known as LAV Biosciences Fund IV, took only two months to reach its cap, and was “significantly oversubscribed.” Lilly, a company that is active in diabetes and cancer treatment, got its start in Asia/China venture capital with a $10 million investment in the BioVeda China fund in 2007, the first international VC fund dedicated to making life science investments in China.
