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Laxman Pai, Opalesque Asia: OrbiMed, a healthcare-focused venture capital firm, has closed its fifth royalty and credit opportunities fund at $1.86 billion to provide businesses with financing alternatives as equity capital becomes more costly.
The New York-based healthcare investor beat its $1.75 billion goal for OrbiMed Royalty and Credit Opportunities Fund V. The fund, which closed on Friday, follows the $1.71 billion OrbiMed raised for its fourth royalties and credit fund in 2022.
Consistent with its predecessors, Fund V will provide tailored investment solutions to growth-oriented healthcare companies, with a focus on non-dilutive credit and royalty-based financing, said a media release from the global healthcare investment firm.
OrbiMed expects to partner with healthcare companies across many sectors, including biopharmaceuticals, medical devices, diagnostics, and technology-enabled healthcare services, it added.
"Equity markets have been challenging in recent years for biotech and life sciences companies," said OrbiMed General Partner Matthew Rizzo. "Our flexible, non-dilutive capital solutions can help our portfolio companies to grow and thrive despite these volatile market conditions. The OrbiMed platform is uniquely positioned to fund healthcare innovation and growth on a global basis."
Investors in this new fund include a broad range of medical institutions, university endowments, foundations, pension funds, sovereign wealth funds, and family off...................... To view our full article Click here
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