China-focused growth capital fund manager China New Enterprise Investment (CNEI) has invested US$21 million in Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co. (FDZJ), a Chinese biomedical company. FDZJ, listed on the Hong Kong Stock Exchange’s Growth Enterprise Market, engages in the research, development, manufacturing and sales of drugs and diagnostic products. CNEI structured the transaction through China New Enterprise Investment Fund II.