OrbiMed rolls out its third Asia biopharma fund with $551M up for grabs

The VC's fund will have a particular focus on China and India.

OrbiMed has launched its third Asia-focused biopharma and healthcare fund with more than half a billion dollars’ worth of private equity.

OrbiMed Asia Partners III comes to life with around $551 million in capital commitments and builds on its previous funding efforts, which have seen around $2 billion injected into a variety of Asian healthcare companies and services. Asia Partners III will “invest broadly” across the Asian healthcare industry, with a focus on growth stage product- and services-oriented companies in China and India, the VC says in a statement.

Targeted investments will be relatively small, ranging from $10 million to $75 million per company across 15 to 20 opportunities. There is also room for a co-invest op crossover with OrbiMed’s global team, boosting the size of potential investments and tapping OrbiMed’s hundred-plus team members and its $14 billion global investment platform.

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“This new, larger fund reflects our enthusiasm for the investment opportunities in China and India, which have healthcare market growth rates far superior to most developed countries,” said Carter Neild, an OrbiMed general partner.

“With over half of the world’s patient population, the demand for quality healthcare in Asia still greatly exceeds supply,” added Jonathan Wang, a senior managing director. “China’s healthcare market is not only growing rapidly, but also becoming a leading center of innovation, and is increasingly integrated with the rest of the world, especially the U.S.”

“With India still spending less than 5% of its GDP on healthcare and boasting the fastest growth rate of all major economies, we see compelling opportunities for investments across healthcare services, pharmaceuticals, and diagnostics,” said Senior Managing Director Sunny Sharma, who leads OrbiMed’s team in India.