To solidify its position in the health tech sector, pan-Asian venture capital firm Gobi Partners has announced simultaneous investments in two key regions: China’s Greater Bay Area and Southeast Asia. With a total investment of USD 11.8 million spread across 12 dynamic startups, the company is positioning itself as a major player in what it referred to as the ‘Greater Bay ASEAN’ region.
Among the startups backed by Gobi Partners include Hong Kong-based biotechnology corporation ImmunoCure and Malaysia-based telehealth platform ORA. Gobi Partners led ImmunoCure’s Series A round and was among the investors that participated in ORA’s Series A round.
These recent investments underscore the investor’s commitment to expanding access to top-quality healthcare in the region. For example, ORA’s direct-to-consumer model is tailored to fit Southeast Asia’s distinctive healthcare landscape, where around 40% of healthcare expenses are paid out of pocket. By emphasizing assistance in managing chronic conditions rather than offering singular treatments, ORA has the capacity to revolutionize the conventional approach to healthcare in the region.
Leveraging the potential of the Greater Bay Area has been a core aspect of Gobi Partners’ investment strategy. Rich in resources and talent, the region provides an ideal environment for health tech innovation. The firm’s successful track record with Hong Kong’s first unicorn exit, Prenetics, and its USD 200 million joint venture Insighta for multi-cancer early detection screening, exemplifies the region’s ability to nurture unicorns, reinforcing Gobi Partners’ decision to double down on investments in the region.
Hong Kong’s reputation as a powerhouse of innovation, supportive government policies, and the shift toward universities doubling as business incubators, are also factors that have influenced Gobi Partners’ recent moves.
With USD 1.6 billion worth of assets under management, Gobi Partners is committed to sustainable and responsible investing. In addition to ImmunoCure and Prenetics, its portfolio also includes the likes of Gense and PanopticAI, which were featured in its recent sustainability report, underlining the firm’s dedication to investing in businesses that have a positive impact on society.
“At Gobi Partners, our mission is to ensure high-quality healthcare for all through tech innovation and digital transformation. Therefore, we are committed to expanding our health tech portfolio with sustainability and impact acting as guiding principles in our investment strategy,” said Thomas G. Tsao, co-founder and chairperson of Gobi Partners.
As the health tech sector continues to evolve, Gobi Partners is well-poised to shape the future of healthcare through its investments.