US-headquartered healthcare investment firm OrbiMed is floating its eighth fund with a target corpus of $1.4 billion, per a filing with the US Securities and Exchange Commission (SEC).
It did not disclose further details.
The firm, which has about $13 billion in assets under management, has been investing for over 20 years globally in both early-stage private companies and large multinational corporations in the healthcare sector.
It utilizes a range of private equity funds, public equity funds, and royalty/credit funds to clock its investments.
Apart from New York City and San Francisco in the US, it has a significant presence in Asia with offices in Shanghai (China), Hong Kong, Mumbai (India) and Herzliya (Israel).
Established in n 1989, OrbiMed launched its office in China in 2007, months before the collapse of Lehman Brothers brought down the world’s financial system. It forayed into India in 2008 and subsequently in Israel in 2010.
Earlier this year, OrbiMed made headlines when it launched its fourth Asia private equity (PE) fund with a target corpus of $750 million.
It closed its third Asia-focused private equity fund with capital commitments of $551 million in 2017. Prior to that, it raised $325 million for its second Asia fund, while its first fund was worth $185 million.
Globally, in 2018, it launched its seventh fund to invest in sectors such as biopharmaceuticals, medical devices, diagnostics and healthcare services businesses.
In Asia, its portfolio companies include China’s Aige Hospital and Amoy Diagnostic, and Asian Institute of Medical Sciences, a multi-specialty tertiary care hospital in North India with a focus on oncology.
The healthcare sector globally has been witnessing traction and evincing significant investor interest. Other healthcare-focused PE firms operating in the region are Quadria Capital, InvAscent, Asian Healthcare Fund, and Somerset Health Capital Advisors, among others.