The sudden emergence of a $656-million Vancouver technology fund with heavy ties to Chinese investors has raised eyebrows in the Canadian venture capital scene, but officials say it could also be a potential game-changer for local health sciences.
On Monday, venture capital firm Quark Venture said it is setting up the fund — the “Global Health Sciences Venture Fund”, valued at $500 million US — to target “cutting-edge discoveries” in the life sciences industry, such as the development of new therapies, treatments and medical devices.
Quark is partnering with GF Securities, a China-based investment institution that handles up to 40 per cent of life-science sector IPOs in the Chinese market.