Wintop Capital in a healthcare fund in Singapore with an objective is to achieve long-term capital appreciation through investments in healthcare sector.
3. WINTOP CAPITAL: A MAS-REGISTERED FUND MANAGER
WINTOP
HEALTHCARE
FUND
(Private Limited Company)
WINTOP CAPITAL
PTE. LTD.
(Registered Fund Manager)
FOUNDERS
He Li Min
Leong Mun Wai
4. EXECUTIVE SUMMARY
Insa6able Demand Balanced Strategy Superior Return High Mission
Core
Competencies
Insa+able demand for
more and beMer
healthcare products and
services in Asia whose
popula+on is increasingly
affluent and rapidly ageing
at the same +me. There is
also a poli+cal and social
urgency in most Asian
countries to provide at
least a minimum level of
healthcare coverage to
their ci+zens.
Wintop Healthcare
Fund (WHF) seek to
invest in investees
who contribute to the
crea+on of a more
efficient and effec+ve
healthcare system
with a greater
emphasis on
preven+on and well-
being to improve
general health and
quality of life.
WHF’s investment
strategy is to have a
balanced porTolio of
investments – 40% in
technology and R&D
driven companies and
60% in opera+ng
healthcare en++es
that are already
genera+ng a cash
flow.
Wintop’s investment
team possesses three
core competencies –
domain knowledge,
China/Japan
connec+on and capital
market experience –
which enables it to find
those investees and
grow them to success.
WHF is well-
posi+oned to deliver
a superior annual
return of 20% p.a.
1 2 3 4 5
5. HEALTHCARE: A DYNAMIC SECTOR
WITH ATTRACTIVE GROWTH OPPORTUNITIES
Global healthcare spending
$9.3 trillion
(projected 2018)
$2.2 trillion
In ASIA
Rise of Asia
Asia is now the most
exci+ng part of the
world for healthcare
businesses with ageing
demographics and
rapidly rising incomes
across the region.
Affluent Lifestyle
Affluence in Asia has led
to surge in chronic
ailments like diabetes
and coronary diseases
and growing demand for
healthcare, including
preven+ve and well-
being healthcare.
Healthcare Reform
Driven need to control
healthcare cost and to
provide beMer
coverage , the
healthcare system is
also undergoing radical
reforms which provide
abundant opportuni+es
for innova+ve firms.
Wide Spectrum
Healthcare offers range of
investments from defensive
mature cash genera+ng
assets (clinic chains &
established pharmacies) to
aggressive targets such as
small cap biotech or drug
discovery companies that
poten+ally offer mul+plier
returns.
Cross-Border Interest
Asian healthcare
companies are gaining
confidence and have
increasingly seek to
expand across the
region to build scale
and widen scope of
opera+ons.
Global healthcare spending expected to accelerate at average rate of 5%
growth p.a to $9.3 trillion* in 2018, approx 24% ($2.2 trillion) from Asia
* World industry outlook: Healthcare and pharmaceu+cals, The Economist Intelligence Unit, May 2014
6. INVESTMENT STRATEGY – A BALANCED PORTFOLIO
R&D
Sector,
[VALUE]
Medical
Services
Sector,
[VALUE]
Approximately 40% of capital to be deployed in
medical technologies, bioscience and research and
development intensive companies (“R&D Sector”)
including the following sub-sectors:
• Drug development
• Innova+ve medical devices and equipment
• Healthcare supplements and natural remedies
Approximately 60% of capital to be deployed in
consumer-centric medical services sectors (“Medical
Services Sector”) including the following sub-sectors:
• Pharmaceu+cal produc+on and distribu+on
• Hospital & clinics and pharmacy chains
• Healthcare services that support the healthcare
system
8. CORE COMPETENCIES
Capital
Market
Experience
China
Connec6on
Domain
Knowledge
Leong Mun Wai
Over 30 years of investment banking experience:
• Instrumental in the successful ini6al public offerings (IPOs) of
over 100 companies in SGX, HKSE and other Asian bourses.
• Managing Director of a leading Singapore stockbroking
company.
• Fund management experience with a sovereign wealth fund.
Ma6lda Tan
Over 30 years of investment banking experience：
• Held senior banking posi6on with NM Rothschild &
Sons (Spore & Jakarta).
• Board and Investment commibee member of
Aventures 1 Fund focusing primarily on healthcare
industry.
He Li Min
President of Zhejiang Zonebanner Jiuzhou Group, a conglomerate
in China with businesses in pharmaceu6cals, tradi6onal Chinese
medicines, chemicals, logis6cs and property. Zonebanner is
controlling shareholder of a Shanghai-listed pharmaceu6cal
company. He is instrumental in pulling in a panel of medical
experts to provide specialist advice to the Fund.
Simon Sun
Over 40 years of experience in the petrochemical,
chemical and pharmaceu6cal industry. Held senior
execu6ve posi6ons in global chemical companies in the
US, Europe and Japan.
Dr Hwang Chi Looi
Over 40 years of R&D, management and consul6ng experience in
global pharmaceu6cal companies and their Chinese joint
ventures. Senior Regulatory Scien6st of the Singapore’s Health
Science Authority.
Dr Gu Zi Qiang
Over 25 years working experiences in pharmaceu6cal
industry, including 15 years with US FDA regula6ons,
guidance, procedures in the area of Chemistry,
Manufacturing and Controls (CMC) and Current Good
Manufacturing Prac6ce (CGMP).
9. INVESTMENT STRATEGY + CORE COMPETENCIES ＝
SUPERIOR RETURNS
Beber
Investee
Quality
Stronger
Bargaining
Power
Capital Markets
Experience
Domain
Knowledge
China
Connec6on
Bigger
Expert
Network
SUPERIOR
RETURNS
10. CONFIRMED DEAL PIPELINE
Drug for
Periodon66s
• The investee is a UK based and the management
team comprised of ex-senior execu+ves from
Novar+s Pharmaceu+cals.
• Reposi+oning of an exis+ng drug compound for
treatment of a prevalent dental disease and
prevent tooth loss.
• Es+mated market size to be about USD2bn
currently but growing because of ageing
popula+on and greater awareness of good
dental health.
• Exit through sale to large pharma aler
comple+on of phase 2 trials in two years.
• Expected annual return is over 30% p.a.
11. CONFIRMED DEAL PIPELINE
Clinic Chain
• Opera+ng a Singapore based clinic chain in
medi-aesthe+cs, dental, ophthalmology,
wellness and specialist clinics.
• Group is currently profitable with posi+ve
cash flow of SGD6million.
• Strategy is to for brand building and growth
through regional expansion and China
partnerships
• Plan to RTO into a SGX listed co in the next
12-24 months to poten+ally yield 50%+
return p.a. thus providing liquidity and exit
possibili+es.
12. FUND TERMSHEET
Type Pan-Asia Pharmaceu6cal & Healthcare Fund
Target Return More than 20% p.a
Launch Date 30 June 2016
Denomina+on United States Dollar (USD)
Domicile Singapore
Target Fund Size USD 100 million
Pre-Closing Date 30 June 2016
First Closing Date 29 September 2016
Final Closing Date 29 June 2017
Minimum Investment USD 500,000 (US Dollar Five Hundred Thousand)
Management Fee 2% p.a. on commiMed capital
Performance Fee 20% carried interest
Ini+al Drawdown 40% of commiMed capital
Interest 8% p.a on commiMed capital aler first closing date
Fund Life 5 yrs + 2 yrs from first closing date
