Hong Kong-based venture capital firm ORI Capital plans to launch a new fund to invest in Chinese healthcare start-ups, as the domestic biotechnology industry experiences its own “DeepSeek moment”, its founder said in an interview.
ORI, established in 2015 with two funds that primarily invest in global biotech start-ups, is in the process of raising capital for a third fund, which will “invest heavily” in China, founder and senior partner Simone Song told the Post on Monday.
ORI Capital plans to raise about US$350 million for the new fund and aims to attract investors from mainland China, Hong Kong, other parts of Asia and Europe, according to Song.
In the first three months of this year, six of the world’s top 10 pharmaceutical licensing deals by transaction volume involved drugs designed by Chinese biotech firms, including GeneQuantum and Hengrui, according to a report by Chinese biopharma data provider PharmCube last month.
“China’s DeepSeek moment in biotech is already here,” Song said.
