A new investment fund started by AstraZeneca and a Chinese investment bank plans to raise as much as $1 billion over four years to invest in China health-care startups
HONG KONG—AstraZeneca PLC plans to raise up to $1 billion for a new fund that would invest in Chinese health-care startups, making it the latest drug giant to place a bet on the world’s second-largest pharmaceuticals market.
The fund—a joint venture between AstraZeneca and a Chinese investment bank—has drawn interest from investors such as Sequoia Capital, the drugmaker’s chief executive, Pascal Soriot, said in an interview. The fund plans to raise between $200 million and $300 million this year, and as much as $1 billion...
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