Making a big bet on the world’s second-largest pharma market, AstraZeneca (NYSE:AZN) aims to raise up to $1B for a new fund that would invest in Chinese healthcare startups.
The fund – a joint venture between AstraZeneca and China International Capital Corporation – has drawn interest from investors such as Sequoia Capital.
It aims to raise between $200M to $300M this year, and as much as $1B over four years.
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