OrbiMed announces next venture capital fund for investments in biopharmaceutical and medical device companies

OrbiMed, a leading investment management firm focused on the healthcare sector, is pleased to announce the launch of its next venture capital fund, Caduceus Private Investments IV, LP, with $550 million in limited partner commitments. Approximately 80% of the new fund’s capital is from returning investors, and the fund’s partners include some of the largest pension plans, endowments, foundations, and sovereign funds globally.

“We will be seeking novel technologies in medical devices and biopharmaceuticals, anywhere in the world and at any stage of development”

Consistent with its predecessor funds, the new fund will invest primarily in venture-stage biopharmaceutical and medical device companies located in North America and Europe. The new fund is expected to be invested over a three- to five-year period with individual investments ranging from $10 million to $50 million. OrbiMed has raised over $1.7 billion in capital for its venture capital funds since 2000.

“We are grateful for the strong support from our existing and new investors, which allowed us to exceed the fund’s original target of $500 million,” commented Carl Gordon, a Founding Partner at OrbiMed. “This is particularly noteworthy given the relative paucity of available capital for new venture capital funds due to the recent credit crisis.”

“We will be seeking novel technologies in medical devices and biopharmaceuticals, anywhere in the world and at any stage of development,” commented Jonathan Silverstein, an OrbiMed General Partner. “We are excited about the opportunity to put this money to work in this investing climate.”