OrbiMed Closes $550 Million Fund

 
• By Alex Lash
  
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OrbiMed Advisers just closed a $550 million fund, a tick more than its previous general fund and raised mostly from previous backers. OrbiMed’s general partners say they’ll make no radical departures from their previous formula despite the upheaval brought on by the recession and the federal health care reform saga.

Amid stormy venture seas, OrbiMed Advisors is as stable as it gets. The life-science-only New York firm just closed a $550 million fund, a tick more than its previous general fund and raised mostly from previous backers. OrbiMed's general partners say they'll make no radical departures from their previous formula despite the upheaval brought on by the recession and the federal health care reform saga.

OrbiMed's news comes at a time when many limited partners are questioning whether to trust their cash to venture capitalists....

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