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Panacea Venture Raises over $180 Million for First Healthcare Fund

May 24, 2019

NEW YORK & LONDON & HONG KONG--(BUSINESS WIRE)--May 24, 2019--

Atlantic-Pacific Capital, one of the largest privately-owned global placement agent and advisory firms, is pleased to announce the final closing of Panacea Venture Healthcare Fund I with $180,500,000 of capital commitments, significantly oversubscribed on its target of $150 million. The fundraise was completed within 12 months. Atlantic-Pacific Capital served as global placement agent.

“We are pleased to announce the final close of Panacea Venture Healthcare Fund I and would like to thank our investors for their support and confidence in our team,” said James Huang, Managing Partner of Panacea. “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.”

“It has been a pleasure working with the Panacea team and we appreciate their trust in Atlantic-Pacific to undertake this fundraise as an emerging manager,” said Charles Wan, Principal of Atlantic-Pacific Capital. “We look forward to witnessing the success of this fund and hope to partner with the Panacea team again in the future.”

The Fund, managed by Panacea Venture, had a target of $150 million and received tremendous support from a broad group of institutional investors globally, including endowments, foundations, sovereign wealth funds, pension programs, consultants, fund-of-funds, asset managers, and family offices.

About Panacea Venture

The Fund was formed and managed by the principals of the General Partner, Mr. James Huang, Managing Partner, and Dr. Hai Mi, Managing Partner, who were previously partners of Kleiner Perkins Caufield & Byers China (“KPCB China”). For over twenty years, and prior to KPCB China, James and Hai individually gathered extensive experience over the course of their careers compiling a successful track record of investing in healthcare companies. The Fund seeks significant capital appreciation through the acquisition of privately secured and negotiated early-stage equity investments in healthcare related companies. The General Partner is a newly-formed venture capital partnership that will focus on private investments in the global healthcare sector with a significant China advantage.

About Atlantic-Pacific Capital, Inc. ( www.apcap.com ), Member FINRA and SIPC

Atlantic-Pacific Capital is one of the largest privately-owned global placement agent and advisory firms dedicated to raising capital for alternative investments. Since its founding in 1995, the firm has executed more than 100 capital raising assignments aggregating over $70 billion for an extraordinary group of alternative asset managers. Typical mandates include private equity, real estate, real assets, natural resources and infrastructure fund placements. Atlantic-Pacific Capital provides global marketing distribution and project management execution using a focused and customized approach. With experienced professionals located in seven offices throughout the United States, London and Hong Kong, Atlantic-Pacific maintains a global network of trusted relationships with influential institutional investors.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190524005340/en/

CONTACT: Vincent Ng

Partner

Atlantic-Pacific Capital

+852 2230 7388

vng@apcap.comCharles Wan

Principal

Atlantic-Pacific Capital

+852 2230 7385

cwan@apcap.com

KEYWORD: UNITED STATES ASIA PACIFIC NORTH AMERICA NEW YORK HONG KONG

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE

SOURCE: Atlantic-Pacific Capital

Copyright Business Wire 2019.

PUB: 05/24/2019 01:38 PM/DISC: 05/24/2019 01:38 PM

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