CBC Group
{{Short description|Asian Healthcare investment firm }}
{{Use dmy dates|date=December 2023}}
{{Infobox company
| name = CBC Group
| logo = CBC Group.png
| image = CapitaSpring1.jpg
| image_caption = Headquarters at CapitaSpring
| native_name = 康桥资本
| former_name = C-Bridge Capital
| type = Private
| industry = Investment management
| foundation = {{Start date and age|2014}}
| founders =
| location = CapitaSpring, Singapore
| num_locations = 12
| key_people = Wei Fu (CEO)
| aum = US$7 billion (2023)
| equity =
| num_employees = 150 (2023)
| parent =
| subsid =
| products = Private equity
Venture capital
Private credit
Infrastructure fund
| homepage = {{URL|www.cbridgecap.com}}
}}
CBC Group (CBC; {{Zh|c=康桥资本|p=Kāngqiáo Zīběn|s=}}) is an Asian investment firm headquartered in Singapore. It is focused on private investments in the healthcare and biotechnology industries. It is considered the largest healthcare-focused investment firm in Asia.{{Cite web |last=Hoekstra |first=Tjibbe |date=15 November 2021 |title=APG invests $400m in Chinese life science real estate |url=https://realassets.ipe.com/news/apg-invests-400m-in-chinese-life-science-real-estate/10056339.article |access-date=15 July 2023 |website=Real Assets |language=en}}{{Cite web |last=Ou |first=Christie |date=25 August 2022 |title=APG-backed life sciences platform CBC HIP on track to hit $1.5bn hard-cap |url=https://www.perenews.com/apg-backed-life-sciences-platform-cbc-hip-on-track-to-hit-1-5bn-hard-cap/ |access-date=15 July 2023 |website=PERE |language=en-GB}}
Background
The firm was founded in 2014 as C-Bridge Capital in Shanghai with a focus on private equity investments in China's healthcare sector. The firm was partially backed by Temasek Holdings. C-Bridge Capital would later be rebranded to CBC Group and moved its headquarters to Singapore.{{Cite web |last=Ng |first=Eric |date=8 February 2018 |title=Why private equity China health care funds suit risk-averse investors |url=https://www.scmp.com/business/companies/article/2132551/why-late-stage-china-health-care-funds-suit-risk-conscious |access-date=15 July 2023 |website=South China Morning Post |language=en}}{{Cite web |last=Cooper |first=Preeti Singh and Laura |date=March 2, 2022 |title=CBC Group Surpasses Target for New China-Focused Fund |url=https://www.wsj.com/articles/cbc-group-surpasses-target-for-new-china-focused-fund-11646259675 |access-date=15 July 2023 |website=WSJ |language=en-US}}{{Cite web |last=Cher |first=Benjamin |date=27 June 2022 |title=CBC CEO's borderless approach to building healthcare companies |url=https://www.businesstimes.com.sg/working-life/cbc-ceos-borderless-approach-building-healthcare-companies |access-date=15 July 2023 |website=www.businesstimes.com.sg}}{{Cite web |last=Lynn |first=Alex |date=1 April 2022 |title=Healthcare firm CBC eyes global expansion after closing flagship above hard-cap |url=https://www.privateequityinternational.com/healthcare-firm-cbc-eyes-global-expansion-after-closing-flagship-above-hard-cap/ |access-date=15 July 2023 |website=Private Equity International |language=en-GB}}
CBC primarily invests in late stage companies that already have commercially proven projects which have passed clinical trials. However it has also funded healthcare Startup Companies with its initial strategy of just making minority investments to later taking a business incubator approach. Historically the firm has invested primarily in China, Singapore, Taiwan and Hong kong but has also invested in US-based companies that planned to expand in Asia. CBC would often pursue a strategy of backing companies that already have approved products in developed markets and bring them to China.{{Cite web |date=9 October 2020 |title=今天，康桥资本年内第二个IPO诞生：拿下100亿回报 |url=https://finance.sina.com.cn/tech/2020-10-09/doc-iivhvpwz1070184.shtml |access-date=15 July 2023 |website=finance.sina.com.cn}}{{Cite web |last=Ku |first=Larissa |date=26 April 2023 |title=Deal focus: CBC gets counterintuitive in China {{!}} AVCJ |url=https://www.avcj.com/avcj/official-record/3029126/deal-focus-cbc-gets-counterintuitive-in-china |access-date=15 July 2023 |website=AVCJ |language=en}}
In February 2020, CBC launched its first Private credit fund, R-Bridge Healthcare Fund which raised $300 million.{{Cite web |last=Lynn |first=Alex |date=26 February 2020 |title=China's CBC expands into private credit via healthcare fund – exclusive |url=https://www.privateequityinternational.com/chinas-cbc-expands-into-private-credit-via-healthcare-fund-exclusive/ |access-date=15 July 2023 |website=Private Equity International |language=en-GB}}
On 9 June 2021, Summit Healthcare Acquisition a special-purpose acquisition company backed by CBC was listed on the Nasdaq raising $200 million.{{Cite web |last=Burroughs |first=Tim |date=6 May 2021 |title=CBC Group founder backs healthcare-focused SPAC {{!}} AVCJ |url=https://www.avcj.com/avcj/news/3023765/cbc-group-founder-backs-healthcare-focused-spac |access-date=15 July 2023 |website=AVCJ |language=en}}
In November 2021, CBC launched its Infrastructure fund that would invest in infrastructure projects related to life science companies in China. APG provided $400 million in seed capital with the hard cap being $1.5 billion.
Notable deals of CBC include partnering with Mubadala Investment Company to acquire UCB's mature business in China for $680 million.{{Cite web |last=Tahir |first=Sana |date=August 26, 2024 |title=Mubadala, CBC Group Acquire UCB Pharma's China Business For $680M |url=https://www.forbesmiddleeast.com/industry/business/abu-dhabis-mubadala-partners-with-cbc-group-to-invest-in-ucb-pharmas-china-business |access-date=2025-01-02 |website=Forbes Middle East |language=en-US}}
CBC is headquartered in Singapore with additional offices Shanghai, Beijing, Hong Kong, New York and Seoul.
In 2024, CBC Group Acquired UCB’s Mature Neurology & Allergy Business in China.{{cite web |title=CBC Group Acquires UCB's Mature Neurology & Allergy Business in China |url=https://www.contractpharma.com/breaking-news/cbc-group-acquires-ucbs-mature-neurology-allergy-business-in-china/ |website=Contract Pharma |date=2 December 2024}}{{cite web |title=CBC acquires UCB's neurology and allergy business in China |url=https://www.pharmaceutical-technology.com/news/cbc-ucb-business-china/ |website=Pharmaceutical Technology |date=2 December 2024}}
References
{{Reflist}}
External links
- {{Official website| https://www.cbridgecap.com}}
{{Private equity and venture capital}}
{{authority control}}
Category:Chinese companies established in 2014
Category:Companies of Singapore
Category:Financial services companies established in 2014
Category:Investment management companies of Singapore