TCGX raises $600 million to fund Asian biotech startups

Investment firm TCGX announced a new $600 million Asia Life Sciences Fund I aimed at supporting biotech companies across the region.

The fund will operate separately but in close coordination with TCGX's existing Western vehicles, which have raised over $3 billion and backed companies that later achieved exits through IPOs and buyouts.

TCGX's managing partner Chen Yu highlighted Asia's growing role in global drug discovery and the firm's intent to partner with local entrepreneurs and scientists developing transformative medicines.