Shanghai's LYFE Capital Closes Second Fund At $420 Million

LYFE Capital, a life science investment firm, closed LYFE Capital Fund II with $420 million in capital, consisting of $289 million and another RMB 900 million ($131 million) committed. LYFE II was oversubscribed: its original target was $230 million and RMB 800 million. The new fund will continue the firm's strategy, which focuses on equity transactions in China healthcare, starting at early growth stage. This includes companies in the pharmaceutical, medical device, diagnostics, animal health, healthcare services and digital health sectors. LYFE has offices in Shanghai, Hong Kong and, recently, Palo Alto, California.