Technology News

OrbiMed Closes $550 Million Venture Capital Fund

Tuesday, February 23, 2010 5:02:00 AM PDT | VentureDeal Staff

New York, New York  --  Life sciences venture capital firm OrbiMed has announced the closing of its fourth venture capital fund with $550 million in commitments.

The firm said it would invest the fund over a 3 to 5 year period with individual investments ranging from $10 million-$50 million.

It also highlighted that approximately 80% of the new capital came from existing investors, and that the fund raise exceeded its $500 million target.

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