$500M Quark Venture life sciences fund in Canada
Quark Venture and China's GF Securities set up a global $500 million life sciences fund. The partners described it as the largest of its kind in the corporate world of the country. Vancouver, Canada is the chosen market place of the venture fund. It is designed to inject the cash pot around the world into a well-diversified portfolio of innovations in biotechnology and companies in health sciences reported the Vancouver Sun. With the first close of $100 million, the investments had already operated.
With this partnership, it surely will capitalize on Quark Venture's strong experienced, with its globally connected team which has a track record in sourcing technology, screening, and commercialization. Combined with GF Securities' composite strengths in investment, capital dynamics, biotechnology IPO listing and its expertise on biomedical industry in China, the CEO of GF Securities, Zhihai Lin, strongly believe in its potential capitalization, in a statement.
The newly appointed CEO of the year-long Quark venture, Karimah Es Sabar, further stated that their goal is to build a well-diversified portfolio through investing in the world-acclaimed biotechnology and companies in health sciences that are enterprising game changing modifications in drug development, medical services, IT on health, and technologies that are springing up.
Upon making up their minds to have Vancouver as the avenue of this partnership and to make Canada the market place validates Canadian innovation, thus the headquarters for Quark Venture and Global Health Sciences had risen there. It is going to spill its strength of life science industry and the quality of its technologies.
"We anticipate that internationally competitive Canadian companies will do well having a fund of this size and caliber at their doorstep, and we believe such a fund will energize the sector and be a magnet for further capital." said the CEO, Es Sabar.