At a time when many life science VCs are raising smaller funds, OrbiMed Advisors closed what might be the largest pure venture fund in over a decade, raising more than $735 million from LPs who like the firm's track record of placing big and little bets across the healthcare spectrum.

OrbiMed's Jonathan Silverstein said the firm exceeded its initial target of $550 million based on interest from existing LPs, which provided 85% of the