The pair launched Catalyst CEL with a $200m target last October, and have hit the halfway mark already according to several news outlets.
Reuters quoted managing partner Edouard Cukierman as saying the fund could raise up to $300m, adding he was confident it would reach its goal by the end of the year.
CEL committed $75m of the first $100m, it added, but Cukierman said there was strong interest from Chinese, Israeli and international LPs.
China Everbright has agreed to commit up to $75m in total to the vehicle, which aims to back around 10 businesses.
Each investment will range between $20m and $25m with larger deals possible through co-investments alongside LPs.
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