Canadian venture capital firm Quark Venture and GF Securities Co Ltd, a Chinese investment bank, have launched a US$500 million health sciences fund. The fund, which held an initial close of US$100 million, will invest in global biotechnology and health sciences companies. Karimah Es Sabar, recently named Quark’s CEO and partner, said it will focus on building a portfolio of “game-changing innovations in drug development, medical devices, health IT and emerging convergent technologies.” Quark earlier this month led the US$30 million financing of Vancouver’s MSI Methylation Sciences Inc.
New US$500 Million Global Health Sciences Venture Fund to Be Based in Vancouver
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 17, 2016) – Quark Venture Inc., a Canadian-based venture capital company, and GF Securities Company Limited, a leading investment bank in China, today announced they are jointly establishing a new US$500 million global health sciences venture fund to be based in Vancouver. The fund, the largest of its kind in Canada, will invest globally in a diversified portfolio of innovative biotechnology and health sciences companies. Investments have already started with the first close of US$100 million.
“This partnership will capitalize on Quark Venture’s strong, experienced, globally connected team with its track-record in technology sourcing, screening and commercialization, as well as on GF Securities’ integrated strengths in investment, capital solutions, biotechnology IPO listing and expertise in China’s biomedical industry,” said Mr. Lin, Chief Executive Officer of GF Securities.
“Our goal is to build a diversified portfolio by investing in the best in the world biotechnology and health sciences companies that are driving game changing innovations in drug development, medical devices, health IT and emerging convergent technologies,” said Karimah Es Sabar named Quark Venture’s new CEO and partner, a global life sciences leader and the recently appointed Chief Executive Officer at Quark Venture. “The decision to make Vancouver the headquarters for Quark Venture and the Global Health Sciences Venture Fund, validates Canadian innovation, the strength of the life science industry here and the quality of its technologies. We anticipate that internationally competitive Canadian companies will do well having a fund of this size and calibre at their doorstep, and we believe such a fund will energize the sector and be a magnet for further capital.”
“GF Securities has a strong commitment to build and diversify their portfolio by sector and geographically. Our visions are aligned and we see this as a long-term collaboration,” said Jesson Chen, Chairman of Quark Venture.
Last week Quark Venture announced a US$30 million investment in Vancouver-based MSI (Methylation Sciences Inc.), a clinical-stage pharmaceutical company, that is advancing a therapy for adjunctive treatment of Major Depressive Disorder.
About Quark Venture
Quark Venture is focused on equity financing of innovative biotechnology and health sciences companies with breakthrough technology platforms and projects. The organization’s approach is to establish long-term relationships with target companies, with a view to enable and strengthen management to realize the full potential and value of the technology. This approach has previously been successfully demonstrated in the energy and high-tech sectors where Quark Venture partners have invested. Quark Venture’s management is supported by a scientific and commercial advisory board. For more information on Quark Venture visit www.quarkventure.com.
About GF Securities
Incorporated in September of 1991, GF Securities is a provider of comprehensive capital market services with industry-leading innovation capabilities focused on serving China’s quality SMEs and affluent individuals. GF Securities is listed both on the Hong Kong (HKSE:01776) and Shenzhen (SZSE:000776) stock exchanges with total market capitalization of approximately US$20 billion. GF Securities is an industry leader across the entire spectrum of its core business services: investment banking, wealth management, trading and institutional client services, and investment management. For more information, visit www.gf.com.cn.
Quark Venture Inc.
Karimah Es Sabar
Chief Executive Officer & Partner
Photo courtesy of Reuters/Christian Charisius