Panacea Venture Raises $185 Million for Early-Stage China Healthcare Fund and Files Prospectus

Recently, VCBeat (WeChat Official Account: vcbeat) learned that Atlantic-Pacific Capital, a global private placement advisory firm, announced it had raised $185 million for the Panacea Venture Healthcare Fund I, surpassing its $150 million target. Atlantic-Pacific Capital served as the global placement agent for this fundraising effort.

It is reported that Panacea Venture made two investments in 2018. The first was a £35 million ($44.5 million) investment in the Series B financing round of the biotechnology company Evox Therapeutics, and the second was leading a $35 million investment in the Series A financing round of Tactiva Therapeutics.

Panacea Venture is a venture capital firm focused on early-stage and growth-stage investments. The firm specializes in investing in healthcare and life sciences companies in China. The fund is co-founded and managed by General Partner and Executive Partner James Huang and Managing Partner Dr. Hai Mi, who were previously partners at Kleiner Perkins Caufield & Byers China (KPCB China). The fund seeks capital appreciation by acquiring early-stage equity stakes in private healthcare-related companies.

According to World Health Organization statistics, China’s population aged 60 or older is projected to increase by 90% by 2020, reaching 240 million. Consequently, fund managers have high expectations for China’s healthcare industry.

James Huang, Managing Partner at Panacea, stated, “We are pleased to announce the closing of fundraising for Panacea Venture Healthcare Fund I. We extend our gratitude to our investors for their support of our team, and we also thank Atlantic-Pacific Capital for their assistance in securing this capital.”

Charles Wan, Head of Atlantic-Pacific Capital, stated, “We are delighted to partner with the Panacea team. We appreciate their trust in Atlantic-Pacific Capital as the placement agent. We look forward to witnessing the success of this fund and hope to collaborate with the Panacea team again in the future.”

Atlantic-Pacific Capital is one of the world’s largest private placement agents, dedicated to raising capital for institutional investors. Since its establishment in 1995, the firm has completed more than 100 fundraising mandates for numerous asset management companies, securing a total of over $70 billion. Its fundraising engagements span private equity, real estate, tangible assets, natural resources, and infrastructure funds. Atlantic-Pacific Capital provides targeted global marketing and project management solutions to its clients. The company boasts a team of seasoned professionals and has established partnerships with many influential global institutional investors, operating seven offices in locations including the United States and Hong Kong, China.

(Compiled by Song Chenchen)