3E Bioventures: Mastering the biomedical investment landscape for over 4 years with iDeals

Overview

3E Bioventures Capital is a Chinese investment firm specializing in life sciences and biomedical technologies. The company’s name itself reflects their principles of Expertise, Efficiency, and Execution, which are deeply rooted in their operations.

In 2019, the company spotted a new market: the most exciting breakthroughs were often from start-ups that struggled to access finance to develop their products. So, they decided to offer financing to these entrepreneurs but needed a cost-effective and user-friendly platform to streamline communications and manage due diligence.

After conducting a comparison of the available options, they found that iDeals was a perfect fit for their needs. Not only was it easy to navigate for administrators creating rooms and allocating roles, but it was also extremely simple for their partners to use, “the more firms use the platform the more convenient it becomes for everyone.”

The context

3E was founded in 2015 as a healthcare-focused fund with a mission to invest in frontier technologies. Over time, they narrowed their focus to two key areas: innovative therapeutic drugs and cross-disciplinary med-tech in devices and diagnostics.

Previously, the firm utilized a different virtual data room to communicate with clients, investors, and manage funds in both Chinese and American currencies. However, they required a more comprehensive tool to meet their evolving needs.

Key challenges

They not only wanted a platform to help communicate internally but also to manage the due diligence for new clients on the same VDR.

To meet their specific needs, 3E Bioventures Capital required a VDR that would:

• Be effortless to set up and manage 
• Provide 24/7 support in different languages
• Allow for a myriad of permission levels to all parties involved
• Offer real-time tracking of all activities, giving them complete transparency and control over due diligence

They compared their previous solution with iDeals and decided to go for a trial. iDeals’ easy setup, multilingual support, and real-time tracking of activities provided the necessary transparency and control over the process.

Solution

Using iDeals, 3E has been able to manage different deals efficiently and securely with a host of new start-up clients in America, Europe, Singapore, Hong Kong, and mainland China. 

They have:

• Optimized due diligence for start-ups raising capital
• Handled funds efficiently in Chinese Yuan Renminbi and US Dollars
• Communicated internally with different teams such as their accountants

As well as enjoying “how easy it is to use, not just for the administrators but also for the users,” the 3E team found the iDeals platform completely reliable. “We have not encountered any technical issues at all in four years,” boasted Amie.

She is confident that the main benefit is the time saved by their administrators with the intuitive design, “it doesn’t take them any time at all to create rooms and set up users, and they don’t even need any particular skills.”

The future

With successful investments in Dermaliq Therapeutics, Eluminex Biosciences, and a joint venture with Regenacy to develop their neuropathy drug, 3E is definitely reaping the benefits of its new strategy.  

Their team is still impressed by how easy to use iDeals is compared to other VDRs. And they aren’t the only ones: several of their clients have already used iDeals, “it is great that we don’t need to train them, and they don’t need to do anything extra as they are already familiar with the platform,” concludes Amie.