Frank Yu wasn’t the most heralded participant at last month’s J.P. Morgan Healthcare (JPM) Conference in San Francisco, the giant partnering confab that draws biotechs, medtechs, pharmas and investors from around the world. Instead, Yu, founder and CEO of the $500 million Hong Kong private equity fund Themes Investment Partners and of the investment firm Ally Bridge Group, preferred to stay under the radar while assessing the pulse of the life sciences industry.