Cayman Islands-based WuXi Healthcare Ventures Fund II, L.P. has filed paperwork with the US SEC for a $250 million life sciences venture fund. In March 2015, WuXi PharmaTech's board of directors decided to commit up to $50 million as an anchor investment for WuXi Healthcare Ventures Fund II, with an additional $200 million to come from outside investors. In 2011, WuXi PharmaTech started its original WuXi Venture Fund with $50 million. By the end of 2014, it had invested $36.1 million in 18 life science companies and recognized gains of $16.6 million on exits. UPDATE: WuXi PharmaTech is a separate and autonomous organization and did not file the Form D for the WuXi Healthcare Ventures Fund II, as previously reported.  

The filing for WuXi Healthcare Ventures Fund II was signed by Dr. Wei Li, whose most recent position was with Fidelity Growth Partners Asia, where he was Executive Partner for China Healthcare. Dr. Li appears to be one of the operating partners for the new WuXi Venture fund. Fidelity may be a Limited Partner, though that is only speculation.

In the first mention of Ventures Fund II, contained in WuXi's 2014 annual report, the company said the Fund would appoint three operating partners, plus two members of WuXi's managment (Dr. Ge Li, WuXi's founder, chairman and CEO; and Edward Hu, CFO and CIO) will serve as non-operating partners.

With $36 million in funds committed to 18 companies, WuXi's first fund made smaller-sized investments ($2 million average size) alongside venture funds with more capital to invest. The WuXi Healthcare Venture Fund II, which will have more capital to invest, has the ability to become a more significant force in the VC world.

WuXi said its original fund was very useful to the company. Besides the investment gains, it served as a means of monitoring developments in the industry and marketing its services, the company declared. Some of its investments were also strategic. After investing in Foundation Medicine (NYSE: FMI), a Boston company that developed a comprehensive test for genetic abnormalities associated with cancer, WuXi signed up to offer the test in China (see story) and expand its clinical genomic diagnostic offerings.

In addition, WuXi's NextCODE Genomics subsidiary led a $15 million Series B financing in Claritas Genomics in February 2015 (see story). Claritas is a Boston-based lab that develops and provides next-gen sequence-based tests for pediatric genomic disorders. The size of the investment was not disclosed, but it seems to have been one of the company's larger venture transactions.

See our other articles on WuXi PharmaTech.

Disclosure: none.