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Khazanah investee Xeraya Capital invests in US$50m Series C funding round in UK digital firm

KUALA LUMPUR (June 9):Life sciences-focused investment firm Xeraya Capital Sdn Bhd, owned by sovereign wealth fund Khazanah Nasional Bhd, participated in a globally-syndicated US$50 million Series C investment last November in UK-based digital health firm Congenica.

In a statement issued to, the firm said the round was co-led by the UK’s Legal & General and China’s Tencent, and drew new investors like itself, Oman’s IDO Investments and China’s Puhua Capital, alongside existing investors from the UK, namely Cambridge Innovation Capital, Downing and Parkwalk.

According to Xeraya, Congenica is recognized as a leader in the genomic analysis of rare diseases and inherited cancer, with a global customer-base of hospitals, diagnostic laboratories, academic medical centres and pharmaceutical companies. The new funding is aimed at accelerating international market development and drive further expansion of Congenica’s product platform into somatic cancer and wellness through partnerships with pharmaceutical companies.

“We are very pleased to be participating alongside a powerful syndicate of global investors with the expertise and resources to help bring Congenica’s breakthrough genomic tools to bear on the advancement of human health around the world. Accelerating rapid diagnosis and initiating personalized treatment using the Congenica platform will ease suffering and save countless lives,” said Xeraya Capital chief executive officer Fares Zahir.

Xeraya Capital is the only active private equity (PE) and venture capital firm in the country that focuses on life sciences investments. The firm manages several funds, including the Malaysian Life Sciences (MLS) Capital Fund II and the Mudharabah Innovation Fund (MIF).

MLS Capital Fund II is co-managed by Xeraya and Spruce Capital Partners. It was launched in 2015 to invest in “biogreentech” companies at all stages of development.

According to the firm’s website, biogreentech spans plant and animal agriculture; food, feed and nutrition; and bio-renewable chemicals and materials. It also includes companies and technologies developed in big data analytics, robotics, production, harvesting and use of natural resources and synthetic biology.