OrbiMed, an investment firm focused on the healthcare sector, has closed its next venture capital fund, OrbiMed Private Investments V, with just over USD735m in commitments.
That total includes approximately USD36m from the general partner. Investors in the fund include some of the largest endowments, foundations, sovereign wealth funds and financial institutions globally.
Consistent with its predecessor funds, the new fund will invest in all stages and sectors of the healthcare industry, with a focus on biopharmaceutical, medical device, and diagnostics companies located in North America and Europe. The new fund is expected to invest in approximately 30 portfolio companies in amounts generally ranging from USD10m to USD50m.
Carl Gordon, a partner at OrbiMed and co-head of global private equity, says: “This is an exciting time to launch our next fund, given the combination of the high rate of new FDA drug approvals, a vibrant IPO window, and the accelerating level of innovation from companies across the life sciences investment universe.”
“We are seeking novel healthcare innovations across biopharma, devices, diagnostics and healthcare IT at any stage of development,” says Jonathan Silverstein, also an OrbiMed partner and co-head of global private equity. “This new fund will leverage OrbiMed’s entire global platform, which now includes more than 80 employees globally investing over USD8bn across healthcare public equities, private equities, royalties and credit opportunities.”
