BVCF, a China-based life sciences-focused private equity firm formerly known as BioVeda China, has held a final close for its third fund, BVCF III, with US$200 million in capital commitments. Investors in the fund include development finance institutions, funds of funds, foundations, family offices and life sciences-focused corporations. BVCF III will invest in early- and growth-stage pharmaceuticals, biotechnology, traditional Chinese medicine and healthcare services companies. In addition, the fund plans to partner with U.S. venture capital firms to execute cross-border transactions and form joint ventures with overseas life sciences companies to bring new products and technologies to China.