Kirkland & Ellis has advised Panacea Venture on its second USD healthcare fund, which comprises of two vehicles, Panacea Venture Healthcare Fund II and Panacea Opportunity Fund I (collectively, “Fund II”). Panacea is a healthcare private equity firm led by former managing partner of Kleiner Perkins in China, James Huang, and is focused on biotech and pharmaceuticals, medical devices and diagnostics, as well as healthcare IT and services across China, the US, Europe and other major global life sciences hubs. Fund II held its final close on November 15, 2022 with aggregate commitments of over $276 million. Fund II’s investor base comprises of a broad mix of global institutional investors, including sovereigns, pensions, endowments, corporations, fund of funds, family offices and high net worth individuals.
The Kirkland team was led by investment funds partners Jennifer Feng and Carol Liu and associate Douglas Wong. The team also included investment funds partners Joshua Westerholm, Phil Vincent Giglio and Prem Mohan and associate Danielle Sartain, tax partner Alec Campbell, and employee benefits partner Sabrina Glaser.