Startups

Healthcare venture firm OrbiMed launching $300M Israeli investment fund

If it’s anything like its first fund, OrbiMed’s new Israeli investment fund will invest $5 million to $20 million in each of 12 to 15 companies – much like the first fund.

 

Life sciences venture firm OrbiMed Advisors is raising capital for a $300 million investment fund based in Israel, according to a regulatory filing.

The firm isn’t currently commenting on the new fund, OrbiMed Partner Carter Neild said in an email. However, Israeli business publication Globes first wrote about OrbiMed’s early plans for a second fund back in April – when at the time the fund’s goal was some $250 million.

Globes viewed an OrbiMed presentation which, last April, appeared to be in preparation for the second fund. It said it plans to invest $5 million to $20 million in each of 12 to 15 companies – much like the first fund. 

OrbiMed’s first Israeli fund closed in 2011, having raised $251 million. It coupled $203 million in private funding with another $48 million from the state. The fund invested $130 million in 19 Israeli companies, Globes reported – with an internal rate of return on its investments in Israel of 21.4 percent.

OrbiMed Israel currently has nine startups in its portfolio, ranging in focus from immunotherapy to endoscopic devices to healthcare analytics.

Notably, OrbiMed helped launch a medtech incubator in Israel last year, partnering with Johnson & Johnson and Takeda Pharmaceuticals.