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OrbiMed launches USD550m venture capital fund

OrbiMed, an investment management firm focused on the healthcare sector, has launched its next venture capital fund, Caduceus Private Investments IV, with USD550m in limited partner commitments.

Approximately 80 per cent of the new fund’s capital is from returning investors, and the fund’s partners include some of the largest pension plans, endowments, foundations, and sovereign funds globally.

Consistent with its predecessor funds, the new fund will invest primarily in venture-stage biopharmaceutical and medical device companies located in North America and Europe.

The new fund is expected to be invested over a three to five year period with individual investments ranging from USD10m to USD50m.

OrbiMed has raised over USD1.7bn in capital for its venture capital funds since 2000.

“We are grateful for the strong support from our existing and new investors, which allowed us to exceed the fund’s original target of USD500m,” says Carl Gordon, a founding partner at OrbiMed. “This is particularly noteworthy given the relative paucity of available capital for new venture capital funds due to the recent credit crisis.”

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