Healthcare-focused Vivo Capital holds first close of new RMB fund at $600m, targets $1.5b

Vivo Capital, a global healthcare investment firm that has backed Chinese companies including medical tech platform WuXi AppTec, has held the first closing of a new RMB-denominated fund at 4 billion yuan ($600 million) with a total fundraising target of about 10 billion yuan ($1.5 billion).