NEW YORK (GenomeWeb News) – Life science venture capital and private equity firm Burrill & Co. and the Infinity Group today announced a joint venture to pursue life science investment opportunities in China.
Under the agreement, the two companies will co-invest into life science opportunities in China in US dollars and in renminbi, the currency of mainland China. Burrill, headquartered in San Francisco, will establish headquarters in Hong Kong for its China operations. Infinity already has a presence in Hong Kong, the two firms said in a joint statement.
Burrill will also use Infinity's 10 offices in China and its international offices in the US, Europe and Asia. In return, the partnership allows Infinity to strengthen its presence in the US, as part of its strategy to increase its presence as a global life science fund "bringing innovative technologies from Israel, the US, and Europe to China," the two companies said.
Based in Israel, Infinity describes itself on its website as "the world's leading cross-border Chinese focused management group" and manages more than $1 billion RMB and $700 million through 10 funds, including eight in China.