China Everbright raises $115m

The Hong Kong-based manager has held a first close of its third healthcare investment vehicle.

China Everbright Limited has held its first close for its Everbright Medical Healthcare Fund III at CNY 800 million ($115.2 million, €100.6 million). With this closing, the fund has reached more than half of its initial fundraising target of CNY 1.5 billion ($216.1 million, €188.5 million).

Like its predecessors, the fund will target investments in biotechnology and healthcare services in China.