Medtronic, Sequoia launch $60M VC fund for Chinese med tech startups

Medtronic ($MDT) and Silicon Valley VC firm Sequoia are launching a $60 million fund to foster med tech startups focused on serving the Chinese market. Accelerator Suzhou-BioBay is also participating in the Medtronic-Sequoia China Healthcare Technology Venture Investment Fund as a strategic partner. "This fund is Medtronic's first early stage investment vehicle established outside of our home country," said Medtronic CEO Omar Ishrak. "Our hope is to support innovation to meet the increasing demand in China's healthcare market." More