LAV Biosciences Fund V’s Fundraising


Kirkland & Ellis has advised Lilly Asia Ventures (LAV), a leading biomedical venture capital firm, in a one and final closing of its fifth USD life sciences fund, LAV Biosciences Fund V.

The fund was heavily oversubscribed with a broad mix of global institutional investors, including sovereigns, pensions, endowments, foundations, family offices and fund of funds. Kirkland also represented LAV in raising its predecessor funds LAV Biosciences Funds III and IV.

The Kirkland team was led by investment funds partners Carol Liu (Picture) and Jennifer Feng, associate Ling Zhu, and foreign legal consultants Sophie Xue and Yeshu Yang. The team also included investment funds partner Kevin Bettstellar, tax partners Dan Meehan and Aalok Virmani, and tax associate Carol Wang, government and investigations partner Nick Niles, employee benefits partner Elizabeth Dyer and banking and financial institutions of counsel Julie Kunetka.

Involved fees earner: Elizabeth Dyer – Kirkland & Ellis; Jennifer Feng – Kirkland & Ellis; Julie Kunetka – Kirkland & Ellis; Carol Liu – Kirkland & Ellis; Daniel Meehan – Kirkland & Ellis; Nick Niles – Kirkland & Ellis; Aalok Virmani – Kirkland & Ellis; Carol Wang – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Lilly Asia Ventures;

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Author: Michael Patrini