GNI Group to form $100M fund with Chinese state-owned enterprises

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.