OrbiMed closes third Asia healthcare fund at $551m

Asia Partners III will make 15-20 investments across the region with a focus on growth-stage product and services companies in China and India. Ticket sizes are expected to range from $10-75 million although the firm had indicated interest in pursuing larger deals that leverage its $14 billion global investment platform.

LPs in the fund have not been disclosed. OrbiMed closed Asia Partners II in 2014 at $325 million with support from the Asian Development Bank, among others. It raised $188 million for its first Asian fund in 2008.

“With over half of the world’s patient population, the demand for quality healthcare in Asia still greatly exceeds supply,” Jonathan Wang, a senior managing director at OrbiMed, said in a statement. “China’s healthcare market is not only growing rapidly, but also becoming a leading center of innovation, and is increasingly integrated with the rest of the world, especially the US.”

OrbiMed has made more than $2 billion in Asian healthcare investments to date. Recent activity includes participation in growth rounds for Chinese pharmaceuticals companies Zai Lab and InventisBio.

The firm was founded in 1989 and claims to have more than $14 million in assets under management globally. Its Asian operations include a Shanghai office opened in 2007 and a Mumbai office opened in 2008.

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• Topics
• Greater China
• South Asia
• Healthcare
• Fundraising
• Growth
• China
• India
• OrbiMed
• Asia