HealthQuest picks Korea’s Lunit for first investment in Asia

HealthQuest Capital, a major US healthcare-focused venture growth fund, made its first investment in Asia along with other venture capitalists by purchasing shares in Lunit Inc., South Korea’s startup developing cancer detection solutions based on artificial intelligence (AI). HealthQuest invested $20M in the round.

Lunit said on Nov. 23 that it raised 72 billion won ($60.5 million) in pre-IPO investment from HealthQuest, Casdin Capital, BrightEdge LLC in the US, Tybourne Capital Management in Hong Kong and NSG Ventures in Singapore. In South Korea, Naver Corp. joined the funding as a strategic investor.

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