China’s GNI Group announced on April 18 that it has signed an agreement with Chinese state-owned enterprises and state-invested enterprises to form a $100 million fund. The fund name is “GNI China-Japan Industrial Fund.”
The fund’s investment target is expected to be mainly Japanese startups, focused on high-technology areas including biopharmaceuticals, healthcare and AI. GNI Group is a biotech company based in China, primarily engaged in the development, manufacturing and sales of drugs for prevalent diseases in Asia.
It is GNI’s first fund formation, and the fund will be formed in partnership with Binhu Industrial Investment Development Co., Ltd., Wuxi City, China, and Wuxi Innovation Investment Group Co., Ltd., China.
Wuxi Binhu Industrial Investment Development Company was established in November 2023 as a state-owned enterprise under the direct control of Binhu District, Wuxi City, China. The company operates businesses such as land development, industrial investment and stock investment.
Wuxi Innovation Investment Group is a state-run investment company that operates angel investments and venture capital businesses for seed-stage companies. The company focuses on investments in the biopharmaceutical and semiconductor industries.
Details such as the amount of investment will be determined after discussions between the three companies.
This article was written by staff writer Atsuki Takahashi.