You want more evidence of Asia’s booming biotech sector? OrbiMed can provide it.
The VC announced this morning that its third Asia-focused private equity fund raised a whopping $551 million, far surpassing the $325 million gathered the last time around.
“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,” noted Carter Neild, an OrbiMed General Partner.
Jonathan Wang and David Wang lead the Shanghai office for OrbiMed, while Sunny Sharma has the helm in Mumbai.
This new cash will be central to the success of the 15 to 20 healthcare, biotech and diagnostic companies that can expect backing from the global venture group. OrbIMed expects to invest $10 million to $75 million per biotech gamble with this new fund.
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