OrbiMed, an investment firm focused on the healthcare sector, closed its fund V at over $735m.
OrbiMed Private Investments V will invest in all stages and sectors of the healthcare industry, with a focus on biopharmaceutical, medical device and diagnostics companies in North American and Europe. It is expected to invest in approximately 30 portfolio companies in amounts generally ranging from $10 million to $50 million.
Investors in the fund include some of the largest endowments, foundations, sovereign wealth funds and financial institutions globally. The General Partner committed approximately $36m.
Led by Jonathan Silverstein and Carl Gordon, Partners and Co-Heads of Global Private Equity, OrbiMed invests globally from venture capital start-ups to large multinational companies. It has a team of more than 80 employees in New York City, and additional offices in San Francisco, Shanghai, Mumbai and Herzliya.