OrbiMed closes new Asia fund with $325M

OrbiMed Advisors closed its second Asia fund with $325 million, above the firm's $300 million target. According to OrbiMed general partner Carter Neild, OrbiMed will invest OrbiMed Asia Partners II L.P. in 15 to 20 "growth equity stage" companies in Asia. The fund will target all healthcare sectors, including services, biopharma, medical devices and diagnostics.

OrbiMed Asia will commit up to $40 million per portfolio company. Neild said the firm's global VC funds may co-invest with the Asia fund, with the entire firm potentially investing up to $100 million per company. ...