Indaco Capital

What Indaco Capital does

Indaco Capital (赢迪资本) is a Beijing-based private equity and venture capital firm founded in 2015 that invests exclusively in China's healthcare sector. Its portfolio spans innovative drugs, medical devices, biotechnology, and healthcare services, with disclosed investments including Nanjing Qingpu Bio (pre-A round, Sept 2020), Shanghai Xuantai Pharma (which received STAR Market IPO approval in January 2022), and Nanjing Yuyi Medicine (pre-A round, January 2022). The firm operates from a single headquarters at Unit 2305, Tower A, Phoenix Place, Chaoyang District, Beijing, with 1-10 employees.

The firm competes as a specialized sector investor rather than a generalist. Its competitive position rests on a partner-level team that combines pharmaceutical R&D backgrounds (alumni of Novartis, SciClone, 3SBio, Kefeiping, Xiansheng Pharma, Nuoruite, Shenghe Pharma, 1Globe Bio) with investment banking experience (CICC, Goldman Sachs Jincheng, JY Securities, Huatai Securities). The firm supports portfolio companies with capital, strategic guidance, and post-investment services, and conducts an ongoing industry thought-leadership program (赢迪行业前沿分享) covering frontier biomedical research.

Indaco Capital's revenue mechanics follow the standard PE/VC model: management fees on committed capital, carried interest on investment returns, and capital gains from portfolio exits. The firm does not publicly disclose fund AUM, fee structure, or portfolio size. Business development occurs through direct deal sourcing (BP submissions accepted via [email protected]), industry conferences such as the December 2017 'Rare Disease Industry Business Opportunities' forum, and co-investment partnerships with larger Chinese healthcare-focused GPs including Legend Capital and Bencao Capital.

Name

Indaco Capital

Legal name

赢迪股权投资管理有限公司

Website

https://indacocapital.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Indaco Capital is a Beijing-based, healthcare-focused private equity and venture capital firm founded in 2015 that invests in innovative drugs, medical devices, biotechnology, and healthcare services across China, leveraging a partner team with combined pharmaceutical R&D and investment banking backgrounds.

Ownership category

akta.pro rank

Product category

Venture Capital / Healthcare Investment Management

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industries

Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG), Investor Relations (IR) & Capital Markets Communications (MPAAADAH)

Keywords

• Healthcare venture capital
• Biopharmaceutical investment
• Medical device investment
• Drug development investment
• Healthcare private equity

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Distribution channels1 record

Marketing channels3 records

Core offering

Indaco Capital is a private equity and venture capital investment management firm that invests capital in healthcare industry companies in China, focusing on innovative drug developers, medical device companies, biotechnology firms, and healthcare services businesses. The firm raises capital from fund contributors, deploys it into portfolio companies, and provides ongoing post-investment strategic support while generating returns through investment exits.

Differentiator

Problem solved

Functional benefit

Products and services

• Healthcare Equity Investment Fund
• Post-Investment Value-Added Services

Quantifiable outcome

• Successful exit: Xuantai Pharma received STAR Market listing approval (January 2022)
• +2 more outcomes

Segments1 record

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.

• 再鼎医药 (Zai Lab)minorStrategic or Co-development PartnerIn September 2018, 再鼎医药 obtained exclusive authorization from Novocure to be responsible for the development and commercialization of Tumor Treating Fields technology in Greater China, and will collaborate with Novocure on global development of other indications. This is referenced by Indaco Capital in their industry research content, indicating a strategic partnership in the Chinese market.

Recent moves6 records

Expansion highlights4 records

Direct peers

• Legend Capital (君联资本): Healthcare-focused growth equity investor in China that co-invested with Indaco Capital in Nanjing Qingpu Bio's pre-A round. Both firms target Chinese healthcare growth-stage companies with similar thesis on biotech and innovative drug development.
• Bencao Capital (本草资本): Healthcare-specialist Chinese VC that co-invested with Indaco Capital in Nanjing Yuyi Medicine's pre-A round. Both firms focus on novel drug development and maintain deep pharma R&D networks, making them direct competitors for healthcare deal flow.
• Qiming Venture Partners (启明创投): Leading Chinese healthcare-focused VC with extensive portfolio across biotech, medical devices, and diagnostics. Competes directly with Indaco Capital for early-stage and growth-stage healthcare investment opportunities in China.
• Highlight Capital (弘晖资本): Healthcare-specialist Chinese PE/VC investing across biotech, medical devices, and healthcare services. Operates in the same healthcare investment vertical as Indaco Capital with comparable target company profiles and check sizes.
• Lilly Asia Ventures (礼来亚洲基金): Healthcare-exclusive venture fund backed by Eli Lilly, focused on early-stage biotech and medical innovations in China and Asia. Comparable to Indaco Capital in its healthcare-only mandate and early-stage pharma investment focus.

Broad incumbents

• IDG Capital: Established Chinese VC with healthcare exposure across biotech and medical devices. Competes with Indaco in early-stage healthcare rounds while operating a much broader technology and consumer investment practice.
• CDB Capital (国开金融): State-backed Chinese investment platform with healthcare investment activity. While not healthcare-exclusive, it competes for large-scale Chinese healthcare transactions with policy and capital advantages unavailable to Indaco.
• Hillhouse Capital (高瓴资本): Large diversified PE/VC with a substantial healthcare practice across biotech, medical devices, and healthcare services. While not healthcare-exclusive like Indaco, it competes for similar deals at scale with substantially more capital.
• Sequoia Capital China (红杉资本中国): Major Chinese venture firm with active healthcare practice across drug development and digital health. Broader portfolio than Indaco but competes for the most promising healthcare deals at scale.

Regional players

• OrbiMed: Healthcare-dedicated investment firm with global reach and presence in China. Comparable healthcare-only mandate to Indaco Capital but with global LPs and substantially larger AUM, competing for cross-border healthcare opportunities.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

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

M&A

Investments4 records

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

Frequently asked questions about Indaco Capital