China & Israel Fund Oversubscribed, Raising $300m for Second Drug Development Fund

China & Israel Fund Oversubscribed Raising $300m for Second Drug Development Fund

Israel and China are apparently doubling down on an investment fund based on investor demand and emerging success as a 2016 investment fund known as the Guangzhou Sino-Israel Bio-industry Investment Fund or “GIBF” announced the raising of a second drug development sector-focused fund for a total of $500 million. The GIBF2 fund already secured $200 million and now has plans to tap into another $100 million over the next quarter, commented Yehoshua (Shuki) Gleitman, the former chief scientist for the State of Israel who now manages the fund. A recent report on Israeli and Chinese investment trends reveals that 2018 was the apex year of Chinese investment in Israeli ventures but those capital flows “waned” due to a confluence of factors from changing priorities to Chinese capital restrictions, the pandemic, and American pressure on Israel to dilute the partnership. Does this new fund revive what was a growing partnership in the important drug development space?

TrialSite's Investor Watch provides a brief breakdown of this activity recently covered by GIBF and the Times of Israel.

Where/how did GIBF originate?

This was an investment fund set up in China in 2016 in partnership...

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