Healthcare venture firm OrbiMed has announced the closing of its next major fund. OrbiMed Private Investments VI, LP has reportedly brought in $950 million, which includes investments from medical research institutions around the world, in addition to leading endowments, foundations and sovereign wealth funds.
The new fund will go toward investment in biopharmaceuticals, medical devices, diagnostics and healthcare IT companies located in the U.S. and Europe, as the company has done previously. The plan is to invest in around 30 portfolio companies, each one receiving anywhere from $10 to $75 million.
OrbiMed plans to have oncology, central nervous system disease and gene editing as a focus moving forward with this fund. The company reportedly now has over $16 billion in assets under management.
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OrbiMed announced just days ago that it was raising capital for a $300 million investment fund based in Israel. It’s not clear if that’s included in the funding announced today.
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