OrbiMed said Oct. 15 it raised $3 billion in commitments across two private equity funds, directing capital to life sciences in the United States and Europe and healthcare investments across Asia.
OrbiMed Private Investments X raised more than $1.9 billion for U.S. and European life sciences venture opportunities. OrbiMed Asia Partners VI raised more than $1 billion for healthcare growth equity and venture investments across Asia, the firm said.
OrbiMed said the funds aim to build companies in biopharmaceuticals and diagnostics, alongside medical devices and healthcare services that use technology. It named family offices and medical institutions among its investors, as well as pension funds, sovereign wealth funds, foundations and university endowments. The firm did not identify individual investors or disclose their commitments.
Managing Partner Carl Gordon pointed to artificial intelligence, new therapeutic approaches and China's growing role in biotechnology as factors expanding life sciences opportunities. He said, “There has never been a more exciting time to invest in life sciences innovation.”
Earlier Securities and Exchange Commission (SEC) filings provide dated snapshots of fundraising. Private Investments X's Form D/A filed April 30 reported $1.669183 billion sold from a $1.75 billion offering. A May 28 Form D/A for Asia Partners VI reported $533.984 million sold from an $850 million offering. Both filings say the reported sold amounts include the general partner's commitment and predate OrbiMed's October announcement.
Each filing says the SEC has not determined whether its information is accurate or complete. The figures are amounts reported in the forms, rather than SEC-verified totals for the funds' commitments as of Oct. 15.
OrbiMed's 2023 announcement covered more than $4.3 billion in commitments across three funds: a royalty and credit fund, a private investment fund and an Asia fund. That broader mix is not directly comparable with the two funds announced this month.
