[SINGAPORE] The Sylvan Group has invested US$140.5 million in 4 Singapore healthcare and pharmaceutical companies in the first 4 deals for its maiden fund, Sylvan Growth Asia Growth Fund I.

The fund is co-founded by Chung Kyungsun, a grandson of Hyundai Motor founder Chung Ju-yung. Backers of the fund include members of the Hyundai and Rockefeller families, as well as UOB and South Korea’s Hanwha Life Insurance.

About US$200 million has been raised for its first fund among family and friends, with a target of US$400 million for the fund as it goes to market.

The private equity (PE) and buyout firm has bought majority stakes in Juniper Biologics, Juniper Therapeutics, Artemis Health Ventures and DX Imaging.

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