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.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
