A new partnership between a leading China-based biomedical development company and the Cleveland Bio Fund (CbF) will result in a $100 million fund to invest in U.S biomeds, including those in Cleveland. The Cleveland Bio Fund will help identify and invest in small- to mid-size medical device companies looking to enter the Chinese market.

“[Cleveland Bio Fund] will provide both capital and know-how for device companies looking to expand their products into China. It is a unique boutique style investment strategy needed for that market,” explains Eddy Zai, CEO of CbF

Executives are traveling to Cleveland this week to meet local officials, tour the Health Tech Corridor, and meet with companies that could take advantage of this unique business model.

Cleveland Mayor Frank G. Jackson welcomes the investment in Cleveland from China.

"Investments in the City of Cleveland are good, whether they are made locally or by foreign investors. We welcome the opportunity to partner with the Cleveland Bio Fund as it will better connect Cleveland to the global economy," said Mayor Frank Jackson.

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