China Bridge Capital Invests $45M In Wang Jun’s iCarbonX

China Bridge Capital, a financial services firm closely linked to adventurous Chinese Internet company LeEco, has invested RMB300 million (US$45 million) in artificial intelligence-enabled health data mining start-up iCarbonX.

Alongside the strategic investment, China Bridge Capital says it plans to establish a special purpose investment fund targeting RMB10 billion (US$1.5 billion) to acquire precision healthcare assets, an area iCarbonX is expanding into.

Established by the former chief executive of genome sequencing giant Beijing Genomic Institute (BGI) Wang Jun in October 2015, iCarbonX completed a RMB1 billion (US$155 million) series A round led by Tencent Holdings Ltd. in April at a whopping valuation of RMB6.5 billion (US$1 billion) for a six-month-old start-up.

In January, Shanghai-listed cell and gene engineering firm Vcanb...

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