Qiming News

Venus Medtech Forms Healthcare Investment Platform with DCP Capital, Qiming Venture Partners to Invest in Innovative Medical Device Companies

16/07/2020 | Qiming Venture Partners
Venus Medtech (Hangzhou) Inc. (“Venus Medtech”), DCP Capital and Qiming Venture Partners today jointly announced the completion of a definitive agreement to form Ascendum Capital Partners (“Ascendum”).
Ascendum is dedicated to investing in innovative medical device companies in the global cardiovascular and lung disease treatment space. By leveraging  Venus’s industry resources and the investment expertise of DCP Capital and Qiming Venture Partners, Ascendum aims to accelerate the R&D and commercialization of global leading medical device technologies, and support medtech innovation and medtech companies in China.
Ascendum will be led by Serena Shao, a renowned former healthcare research analyst at Credit Suisse, and supported by a professional team with extensive experiences in investing and operating global medical device companies. “We are very confident that Ascendum will become a leading platform to commercialize innovative medical technologies and products,” said Shao.
Venus Medtech is a leading cardiovascular medical device company in China and pioneer in transcatheter aortic valve replacement (“TAVR”). Its self-developed VenusA-Valve, approved by China’s National Medical Products Administration in April 2017, was the first TAVR product approved and commercialized in China. Venus Medtech has a comprehensive product pipeline that covers all four heart valves. Its long-term mission is to become a global leading minimally invasive solution provider for cardiovascular diseases through internal R&D, external collaboration, and mergers and acquisitions. In December 2019, Venus Medtech was successfully listed on the Hong Kong Stock Exchange. Its current market cap is above HKD 31 billion. Venus Medtech’s strong clinical know-how and extensive global industry network will enable Ascendum to identify promising technological innovations.
“We deeply trust Qiming Venture Partners and DCP Capital as business partners. Through multiple years of partnership, both investors have provided us with valuable expertise on operations, M&A and capital markets. We are thrilled to work with them again. Ascendum marks the beginning for our new adventure to shape and navigate in the global innovative medical device industry,” said Eric Zi, Co-founder and CEO of Venus Medtech.
David Liu, Executive Chairman of DCP Capital, said, "Venus Medtech was led by a best-in-class management team and has become a leader in innovative medical devices in China. We are thrilled to witness Venus Medtech realize its strategic vision and establish a strong market presence with its outstanding R&D and commercialization capabilities. We are highly confident about the long-term potential of medical devices industry in China and wish to nurture more pioneers in innovation like Venus Medtech through this new investment platform.”
Nisa Leung, Managing Partner of Qiming Venture Partners, said,” We have witnessed Venus Medtech’s successful development from scratch, and are highly convinced with Venus Medtech’s strategic vision and expertise in medical device technologies. We are delighted to be their partner again in this new investment platform to develop more innovators in medical devices and help advance the technological development in China and globally.”
The cooperation is expected to consolidate talents and technology resources from the industry leader and veter an investors to cater to the growing unmet healthcare needs in China and globally.