The new fund will primarily focus on China’s healthcare space

The Panacea Venture Healthcare Fund I, which targeted $150 million, succeeded in mobilizing $180.5 million. Its clients include global institutional investors, including endowments, foundations, sovereign wealth funds, pension programs, consultants, fund-of-funds, asset managers and family offices.

Panacea Venture Healthcare Fund Strategy

The new fund will seek opportunities in privately secured and negotiated early-stage equity investments. The fund will center on healthcare-related companies across the globe “with a significant China advantage.”

The Fund is led by Mr. James Huang, Managing Partner, and Dr. Hai Mi, Managing Partner, who were previously partners of Kleiner Perkins Caufield & Byers China.

“We are pleased to announce the final close of [the fund] and would like to thank our investors for their support and confidence in our team,” said Huang. “The commitments we received mean a lot to us and are a clear endorsement of our investment capability towards China’s healthcare space. We would also like to thank our fundraising partner Atlantic-Pacific Capital for their efforts in helping us raise this fund.”

Atlantic-Pacific

The fundraising required 12 months from the group’s placement agent, Atlantic-Pacific Capital. The agent is one of the largest global placement and advisory firms.

Atlantic-Pacific formed in 1995.  It has raised over $70 billion since inception for “an extraordinary group of alternative asset managers.” Its mandates included private equity, real estate, real assets, and natural resources.