Luo Fei got his start in 1992 doing securities and IPO advisory work rather than starting out as a typical financial investor, and one of the first deals he and his longtime partner Li Wei made together was in fingerprint recognition technology, which he later sold to a public company after admitting it was ahead of its time. He looks at opportunities through what he calls three dividends—talent, intellectual property, and China's manufacturing supply chain—favors scientists who can turn research teams into real companies, focuses on clinical doctors as a source of new medical device ideas, tracks biopharma progress through factors like manufacturing, clinical trials, and CXO services, and is a marathon runner whose long investing career is often compared to running one.