Healthcare-focused investment firm OrbiMed has raised over $4.3 billion in its three latest funds, The Wall Street Journal reported Oct. 24.
The firm raised more than $1.86 billion for its ninth venture capital vehicle. OrbiMed partner Carl Gordon said that the firm plans to use the venture fund to invest in 40 to 45 companies. Halfway through 2023, healthcare venture capital funds had raised $13.7 billion, according to Silicon Valley Bank.
Beyond venture capital, OrbiMed raised $1.71 billion for its fourth royalties and credit pool and $751 million for its Asia fund. OrbiMed officials said that this latest fund will take larger stakes and hold onto significant reserves for follow-on investments.