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Vivo Capital

Vivo Capital is one of the largest healthcare-focused investment firms with a unique transpacific presence. The firm invests across the full spectrum of healthcare including biotechnology, pharmaceuticals, medical devices, diagnostics, and healthcare services, with deep expertise in both US and Asian markets.

Location
Palo Alto, California, USA & Shanghai, China
Founded
1996
AUM
$7B+
Investment Range
$10M - $100M
Focus
biotech-focused
Fund Stages
seed, series-a, series-b, series-c, growth

Investment Thesis

Vivo Capital invests in innovative healthcare companies with differentiated technologies and strong management teams. Their transpacific platform provides unique insights into both Western and Asian healthcare markets, enabling them to identify opportunities and help portfolio companies expand globally. They focus on companies at inflection points where their capital and expertise can accelerate growth.

Team

Partners / Managing Directors

  • Edgar Engleman, MD - Co-Founder & Managing Partner (Stanford professor)
  • Frank Kung, MD, PhD - Co-Founder & Managing Partner
  • Shan Fu, PhD - Managing Partner
  • Albert Cha, MD, PhD - Managing Partner

Other Key Team Members

  • Chen Yu - Managing Partner (China)
  • Mahendra Shah, PhD - Venture Partner

Focus Areas

  • Biotechnology
  • Pharmaceuticals
  • Medical Devices
  • Diagnostics
  • Healthcare Services
  • Digital Health
  • China Healthcare

Notable Portfolio Companies

  • BeiGene - Oncology biotechnology (IPO 2016, co-founded)
  • Zai Lab - China-focused biopharma (IPO 2017)
  • I-Mab - Immuno-oncology (IPO 2020)
  • Gan & Lee Pharmaceuticals - Insulin manufacturer
  • Innovent Biologics - Antibody therapeutics

Notable Exits

  • BeiGene - IPO (2016, NASDAQ: BGNE, market cap >$20B)
  • Zai Lab - IPO (2017, NASDAQ: ZLAB)
  • I-Mab - IPO (2020, NASDAQ: IMAB)
  • Adagene - IPO (2021, NASDAQ: ADAG)
  • Gan & Lee Pharmaceuticals - IPO (Shanghai STAR Market)
  • CStone Pharmaceuticals - IPO (HKEX)

Geographic Expertise

  • Unique transpacific investment platform
  • Deep expertise in China healthcare market
  • Offices in Palo Alto, Shanghai, and Hong Kong
  • Extensive network across US and Asia

Sources