Ventana’s Strategic Ties with Wuhan National Bioindustry Base (“Biolake”) in Hubei Province
Signing Ceremony with Mr. Zhang, Deputy Governor of Hubei Province, Peoples Republic of China
Objective: To establish a joint alliance Gateway for the China-U.S. biomedical industry, focusing on development of a unique business model in new medical innovation, research and industrialization in China and the United States for cost effective production, commercialization, and distribution of medical devices, biopharmaceuticals, and health care services for markets worldwide. All parties have agreed to jointly raise a $200M USD Cross Border Venture fund to assist this objective.
Culminating 20 years of hi-tech development in Wuhan, Hubei Province, in June 2007, the National Development and Reform Commission (macroeconomic management agency under the Chinese State Council) officially approved the building of the Wuhan National Bio-Industry Base, known as “Biolake.” Biolake is situated amidst mountains, three lakes and eight colleges and universities, enjoying the benefit of both beautiful views and proximity to convenient air, land and water transport, not to mention abundant business, intellectual and state resources.
Construction on Biolake began in November 2008 with a plan to cover over 17.3 square miles. The scope of the project is just massive, connecting six industrial parks of various specialties, including: technical service and support platforms, a business incubation platform, an information sharing platform, an investment & financing platform, and a talent introduction platform.By 2020 it is estimated that more than 1,000 biotech companies will call Biolake home, with anticipated total revenues of $32 billion USD.
Ventana, steeped in a long, proud history, was one of the first venture capital firms in Southern California. We pride ourselves on the strength of our team, our investment process, and most importantly, our US and Global access to key resources. Ventana’s cross-border investing provides win-win solutions for global communities by making strategic investments that provide a direct means to transfer technology between two countries while optimizing upside growth through global expansion.