ADB re-ups in OrbiMed's Asia healthcare fund

Asia Partners III recently announced a final close with $551 million in commitments. The vehicle will make 15-20 investments across the region with a focus on growth-stage product and services companies in China and India. It follows Asia Partners II, which closed in 2014 with $325 million, including a $60 million commitment from ADB.

ADB's investment is part of its strategy to increase private sector investments in healthcare. The bank, based in Manila, focuses on reducing poverty in the Asia-Pacific region by promoting economic and environmentally sustainable growth, and regional integration.

"High-quality and affordable healthcare is a crucial need for people in Asia and the Pacific, and there is tremendous potential for private investment across the region," Janette Hall, ADB's director of private sector investment funds and special initiatives, said in a statement. "ADB, through the new equity investment, will continue helping healthcare companies and related sectors for improving the quality of healthcare in the region."

OrbiMed has made more than $2 billion worth of investments in Asian healthcare to date. Recent activity includes participation in growth rounds for Chinese pharmaceutical companies Zai Lab and InventisBio. The firm was founded in 1989 and claims to have more than $14 billion 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
• South Asia
• Greater China
• Fundraising
• LPs
• Growth
• Asia
• OrbiMed
• Asian Development Bank
• healthcare