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Venus MedTech secures funding from China-focused private equity firm

Venus MedTech (HangZhou) Inc., a privately held heart valve developer in China, said May 15 that it entered into a definitive investment agreement with DCP Capital.

The terms of the investment were not disclosed, but Venus MedTech said proceeds will go toward production, sales network expansion and research and development.

"We look forward to fully utilizing our network and expertise to help Venus MedTech to grow into the next phase of development," DCP Capital Executive Chairman David Liu said.

Haoyue Capital served as financial adviser for the transaction.

DCP Capital is a Greater China-focused private equity firm. Its team previously led KKR and Morgan Stanley's private equity business in China.