Asian healthcare-focused investment firm CBC Group announced that its healthcare infrastructure platform, CBC HIP, has made a second close of its first life science real assets venture, raising $875 million so far in total commitments.
The venture – CLSRA Venture I – secured commitment from Abu Dhabi-based sovereign investor Mubadala Investment Company, which now joins existing investors APG Asset Management and CBC Group, per the announcement.
CLSRA Venture I raised $500 million in its first close in November 2021. It has already deployed 90% of that money, or about $450 million, across four real estate projects in China.
“The strong interest we have seen from leading institutional investors is a clear market validation of our strategy and endorsement of the sector’s opportunity for further growth,” said CBC Group CEO Fu Wei.
CBC Group said the platform continues to generate a substantial pipeline, and the inclusion of Mubadala as an investor allows CLSRA Venture I to secure further opportunities.
It added that the life science real assets sector is a vital part of China’s new economic landscape and continues to benefit from significant tailwinds.
CBC HIP was founded in 2020 as the real assets platform of CBC Group. It seeks to create value by improving life science companies’ capital structure and operation efficiency by providing one-stop integrated real asset solutions.
Its latest venture platform has acquired approximately 520,000 square-meter life science real assets in Shanghai, Beijing, and Suzhou, the top three life science cities in China, with steady risk-adjusted returns for long-term institutional investors.
“Together with like-minded partners, we will continue to tap the immense potential of life science real assets as a critical component of China’s growing healthcare and life science industry,” said CBC HIP CEO Hans Kan.
On the other hand, Singapore-headquartered CBC Group, which was founded in 2014, operates across four strategies: private equity, private credit & royalty, life science real assets, and venture.
The firm has over $7 billion in assets under management (AUM), making it the largest healthcare-dedicated asset management firm in Asia.
Its portfolio companies include US-listed clinical-stage biopharma company I-Mab Biopharma; biotech firm AdCentrx; HK-listed Everest Medicines; Chinese pharma Hasten; S Korean botulinum toxin producer Hugel, among others.
