OrbiMed targets $750m for Asia healthcare fund
US-based healthcare investment firm OrbiMed has launched its fourth Asian private equity fund with a view to raising $750 million.
The target, confirmed in a regulatory filing, represents an incremental step up versus the firm’s third fund, which closed at $551 million in 2017. That vehicle focused on growth-stage companies in China and India, with about 20% allocated to early-stage drug developers. OrbiMed typically deploys in a $10-75 million range.
The launch coincides with the promotion of David Bonita to general partner at the firm. Bonita’s investment experience includes a number of biopharmaceutical and medical device companies. He will serve alongside six existing general partners.
“David’s investments have contributed significantly to the financial returns enjoyed by OrbiMed’s clients, but more importantly his companies have discovered and developed numerous therapies that treat life-threatening unmet medical needs,” Jonathan Silverstein, another partner, said in statement.
OrbiMed invests globally across strategies including private and public equities as well as credit via bases in the US, China, Hong Kong, India, and Israel. It has about $13 billion in assets under management, with standout portfolio companies including Vivimed Labs, a revenue-generating drug maker based in India that has raised at least $50 million.
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