Legend Capital Management, an independent venture capital unit of China-based conglomerate Legend Holdings, has reached a first close for its second renminbi-denominated health care fund with CNY1 billion (approximately US$157 million) in capital commitments. The main areas of focus for the fund include drug development, medical devices, diagnostic technologies, health care services, information technology and big data. The fund is reportedly targeting CNY2 billion (approximately US$313 million) in total commitments.