China Life Private Equity Investment

What China Life Private Equity Investment does

China Life Private Equity Investment (国寿股权投资有限公司) is a wholly-owned subsidiary of China Life Insurance Group and its specialized private equity investment platform, founded in June 2016 and registered in the Shanghai Free Trade Zone. The firm operates the 国寿大健康基金 (China Life Major Health Fund), a flagship healthcare-focused private equity fund with 500 billion RMB total committed capital and a 120.1 billion RMB first phase, the first insurance-PE vehicle approved under China's CIRC regulations. Investments target four healthcare verticals: life sciences (innovative drugs, biopharma), medical technology (devices, imaging, diagnostics), healthcare services (hospital groups, specialty chains), and digital health (insurance informatics, internet healthcare).

The firm generates revenue through management fees on large-scale funds plus carried interest on successful exits. Underlying platform infrastructure includes a proprietary ESG investment framework integrating environmental, social, and governance factors across the full investment lifecycle — from project screening and due diligence to post-investment management — including ESG exclusion lists and evaluation checklists. Distribution is conducted through direct institutional channels: insurance capital from the parent group, state-owned enterprise co-investors, and government-led cooperation frameworks (notably a 10-year strategic cooperation framework with Jiangsu Provincial Government Investment Fund for 300 billion RMB).

The portfolio spans 50+ companies including publicly listed names such as Mindray (largest ChiNext IPO at the time of listing in October 2018), United Imaging Healthcare (STAR Market IPO August 2022), WuXi AppTec (A+H dual listing 2018), JD Health (HKEX IPO December 2020), XtalPi (HKEX 18C first chapter IPO June 2024), and Bloomage Biotechnology. Across the flagship fund, over 30% of holdings are designated national or provincial 'specialized, refined, novel, and distinctive' (专精特新) enterprises. The firm markets primarily through industry awards, government/policy forums, and corporate news channels rather than consumer-facing media.

Name

China Life Private Equity Investment

Legal name

国寿股权投资有限公司

Website

https://chinalifepe.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

China Life Private Equity Investment (国寿股权) is a wholly-owned subsidiary of China Life Insurance Group and the group's specialized healthcare-focused PE investment platform. It manages the 国寿大健康基金, the first insurance-PE fund approved under CIRC regulations, deploying insurance capital across life sciences, medical technology, healthcare services, and digital health sectors in China.

Ownership category

akta.pro rank

Product category

Healthcare Private Equity Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

akta.pro secondary industry

Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit) (FSAAABAI)

Keywords

• Private equity investment
• Healthcare venture capital
• Biopharma investment
• Medical device investment
• Insurance capital funds

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Fund Management Fees and Carried Interest: Generates revenue through management fees on large-scale healthcare funds (500 billion RMB total committed capital, 120.1 billion RMB initial fund size for the flagship 国寿大健康基金), plus carried interest on successful exits.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

China Life Private Equity Investment is a specialized private equity investment platform under China Life Insurance Group, operating the flagship Guoshou Dajiankang Fund (国寿大健康基金) — a healthcare-focused PE fund with total committed capital of 500 billion RMB and an initial closing of 120.1 billion RMB, the first insurance-funded PE fund approved by China's insurance regulator. The firm makes direct equity investments in portfolio companies across four healthcare verticals (life sciences, medical technology, healthcare services, and digital health), generating revenue through management fees and carried interest.

Product overview

China Life Private Equity Investment (国寿股权投资有限公司) operates as a specialized private equity investment platform under China Life Insurance, serving as the core investment platform for the group's healthcare industry investments. The company primarily offers one main product: the 国寿大健康基金 (GuoShou Dà Jiànkāng Jījīn), a flagship healthcare-focused private equity fund. The fund was established in 2016 as the first insurance-private-equity healthcare fund approved by China's insurance regulator (after relevant CBIRC policies were issued), with a total scale of RMB 500 billion and initial scale of RMB 120.1 billion. The company deploys this fund across four key investment verticals: 生命科学 (Life Sciences), 医疗科技 (Med-Tech), 医疗服务 (Healthcare Services), and 数字医疗 (Digital Health), making direct equity investments in portfolio companies and providing investment management services to Limited Partners.

Differentiator

Problem solved

Functional benefit

Brands

• 国寿大健康基金: 国内领先的旗舰型医疗健康产业投资基金，聚焦生命科学、医疗科技、医疗服务、数字医疗等领域的股权投资。

Products and services

• Guoshou Dajiankang Fund (国寿大健康基金) China Life's flagship healthcare-focused private equity fund, established in 2016 as the first insurance-private-equity healthcare fund approved by China's insurance regulator. The fund targets life sciences, medical technology, healthcare services, and digital health sectors with a total scale of RMB 500 billion and an initial closing of RMB 120.1 billion, making direct equity investments in leading healthcare enterprises.

Named customers15 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• 江苏省政府投资基金 (Jiangsu Provincial Government Investment Fund)majorStrategic or Co-development Partner · 17 July 2017Signed a 10-year strategic cooperation agreement for a 300 billion RMB healthcare industry investment framework. Jiangsu government fund acts as key LP for equity portion while China Life provides debt investment, exploring total-to-local government cooperation model.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Lake Bleu Capital (清池资本): Hong Kong-based healthcare-focused investment firm deploying long-term capital into Chinese healthcare equities and pre-IPO deals. Comparable in long-duration healthcare investing focus.
• Qiming Venture Partners: Leading China-focused venture firm with healthcare as one of two core pillars (medical devices, biopharma, diagnostics). Frequently co-invests with China Life PE (e.g., Jieyue Xingchen B+) and competes for the same healthcare assets.
• Boyu Capital: Asia-focused alternative investment platform with substantial healthcare and life sciences exposure, backed by deep-pocketed LPs. Comparable as a large, healthcare-active PE platform serving institutional LPs.
• Hillhouse Capital: Asia-focused alternative investment firm with one of the largest dedicated healthcare investment platforms globally. Highly comparable as a large, institutionally-backed PE/VC with deep healthcare and life sciences franchise and a track record of category-leading investments.
• FountainVest Partners (方源资本): Asia-focused PE firm with significant healthcare and consumer health investment activity. Comparable as a growth-to-mature-stage healthcare PE investor with institutional LP base.
• Trustbridge Partners (天际资本): Healthcare-focused growth equity firm active in China and globally, backing category leaders in pharma, devices, and services. Comparable as a healthcare-specialist PE with crossover-stage capabilities.
• Highlight Capital (弘晖资本): China-focused healthcare PE firm investing across biopharma, medical devices, and healthcare services. Direct competitor for healthcare deal flow and frequently recognized alongside China Life PE in healthcare-investor rankings.
• Loyal Valley Capital (正心谷资本): China-focused alternative investment firm with strong healthcare and biotech franchise, including backing of major Chinese biotech listings. Comparable in deploying large healthcare-tilted PE/VC funds.

Broad incumbents

• CDH Investments (鼎晖投资): One of the largest China-focused alternative asset managers with healthcare among its core sectors. Comparable as an established, large-scale PE house competing for healthcare and life sciences opportunities.
• CICC Capital (中金资本): The PE/VC arm of CICC, one of China's largest investment banks, with broad exposure including a sizable healthcare vertical. Comparable as a state-affiliated, capital-heavy PE platform competing in healthcare growth deals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments35 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about China Life Private Equity Investment