OrbiMed launches Asia healthcare fund

The vehicle could be more than double the size of its $188 million predecessor fund, launched in 2008.

OrbiMed Asia Partners II fund could invest up to 65% of its corpus in India alone, Samuel Isaly, OrbiMed's founder and managing partner told Reuters. "We're looking to make approximately 10-12 transactions," he said. "We are running out of money in the existing fund."

Private equity investment in India's primary healthcare industry quadrupled in 2012, with the likes of Goldman Sachs, Warburg Pincus, Sequoia Capital, Government of Singapore Investment Corp. (GIC) and others pumping in $520 million. The industry is estimated to be worth around $30 billion.

Invetments from OrbiMed's first Asia-focused fund include mid-sized drug maker Shasun Pharmaceuticals, tertiary care hospital chain KIMS India, bio-pharmaceutical company Bharat Serums and vaccines and clinical research organization Ecron Acunova.

"I would say we have a couple more investments to go in the old fund," said Sunny Sharma, a senior managing director with OrbiMed, who will manage the Indian portfolio.

More than one third of the first fund's investments by value are in India. It also has eight investments in China and one in Korea. Most of OrbiMed's deals are between $5 million and $25 million.

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