Global healthcare investment firm OrbiMed raised more than $4.3 billion across three private investment funds focused on equity, credit and royalty-based financing across the healthcare sector.
OrbiMed Private Investments IX raised $1.87 billion for its U.S.-focused venture capital strategy, while the royalty and credit fund OrbiMed Royalty & Credit Opportunities IV fund saw $1.71 billion in commitments. Lastly, the $17 billion New York firm’s Asia-focused venture and growth capital offering, Asia Fund V, saw $751 million in capital.
“OrbiMed is deeply appreciative of the continued support we’ve received from many long-standing partners who’ve invested in these funds,” said Carter Neild, a managing partner of OrbiMed. “We will endeavor to meet our partners’ high expectations in the coming years.”
The capital collected outpaces the $3.5 billion raised 2021, across the predecessor funds — OrbiMed Private Investments VIII ($1.5 billion), OrbiMed Asia Partners IV ($800 million) and OrbiMed Royalty & Credit Opportunities III ($1.2 billion).
OrbiMed said that it works closely with its portfolio companies to provide tailored financing solutions, which can include equity, credit and royalty-based financing. Companies in the healthcare sub sector span biopharmaceuticals, medical devices, diagnostics and technology-enabled healthcare services.
Back in May, OrbiMed led a $90 million Series A financing round for Convergent Therapeutics, a biotechnology company based in Cambridge, Mass., developing next-generation radiopharmaceutical therapies for various cancers. In the same week the OrbiMed team led a $55 million financing round for Israel-based medical devices company Magenta Medical, which bills itself as the developer of the world’s smallest heart pump, with participation from existing investors New Enterprise Associates, Pitango VC, and ALIVE – Israel HealthTech Fund.
OrbiMed is a firm that has grown to employs 21 partners as its more than 130 professionals are based in a dozen global locations across key healthcare markets in North America, Europe and Asia.