LifeCell, Kapiva backer OrbiMed raises $4.3 bn for Asia PE fund, VC and credit vehicles
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LifeCell, Kapiva backer OrbiMed raises $4.3 bn for Asia PE fund, VC and credit vehicles

By Aman Rawat

  • 25 Oct 2023
LifeCell, Kapiva backer OrbiMed raises $4.3 bn for Asia PE fund, VC and credit vehicles
Credit: 123RF.com

Healthcare-focussed private equity firm OrbiMed, a backer of reproductive diagnostic solutions provider LifeCell and ayurvedic products brand Kapiva, has raised $4.3 billion to invest in healthcare and life sciences companies.  

OrbiMed has raised the total corpus across three separate funds: OrbiMed Private Investments IX, OrbiMed Asia Partners V and OrbiMed Royalty & Credit Opportunities IV.  

Investors in these new funds include a broad range of medical institutions, university endowments, foundations, pension funds, sovereign wealth funds and family offices, OrbiMed said in a statement.  

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“OrbiMed is deeply appreciative of the continued support we’ve received from many long-standing partners who’ve invested in these funds,” said Carter Neild, managing partner at OrbiMed.  

OrbiMed will invest in India via the OrbiMed Asia Partners V fund.  

In India, the firm has previously invested in diagnostic chain in eastern India Suraksha Diagnostic, super-specialty hospital Asian Institute of Medical Sciences, manufacturer of dental restorations Laxmi Dental Export Pvt. Ltd, pharmaceutical firm Eurolife Healthcare and hospital chain Kerala Institute of Medical Sciences. 

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OrbiMed didn’t give a breakup of the amount it raised for the three funds. But the PE firm’s filings with the US Securities and Exchange Commission (SEC) show that the fifth Asia fund had a target corpus of $1.1 billion and had raised $650 million by last year. The PE firm’s fourth Asia vehicle had raised $800 million.  

SEC filings show also that OrbiMed Royalty & Credit Opportunities IV had a target of $1.75 billion while OrbiMed Private Investments IX, which strikes venture capital transactions, aimed to raise $1.9 billion. 

In total, OrbiMed was looking to raise $4.7 billion across the three new funds, up from $3.5 billion it had raised last year for the predecessors of these three vehicles.  

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OrbiMed said the new funds will enable it to invest in seed-stage startups it incubates as well as in growth-stage opportunities across the globe.  

The PE firm primarily invests in healthcare segments such as biopharmaceuticals, medical devices, diagnostics and technology-enabled healthcare services. It provides several financing solutions to its portfolio companies, including equity capital, credit and royalty-based financing. 

At present, OrbiMed has 21 partners, and a team of 130 professionals across company incubation, strategy, operations and finance. It has operations in a dozen global locations across North America, Europe and Asia. 

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OrbiMed currently has more than $17 billion in assets under management. It invests globally across the healthcare industry through a range of private equity funds, public equity funds and royalty/credit funds. 

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