About This Fund
OrbiMed Royalty & Credit Opportunities Fund V is a $1.86 billion healthcare credit and royalty investment vehicle managed by OrbiMed, one of the world's largest dedicated healthcare investment managers with offices in New York, London, San Francisco, Shanghai, Hong Kong, Mumbai, and Herzliya. Announced in August 2025, Fund V marks the fifth vintage in OrbiMed's flagship credit series and represents a continuation of the firm's focus on non-dilutive, structured financing solutions for growth-stage healthcare companies. The fund surpassed its fundraising target and attracted capital predominantly from existing long-standing institutional relationships, with over 90 percent of committed capital sourced from returning investors.
Fund V provides tailored non-dilutive credit and royalty-based financing to healthcare companies across biopharmaceuticals, medical devices, diagnostics, and technology-enabled healthcare services. The strategy offers flexible structures that allow portfolio companies to access growth capital without the dilution associated with equity financing, aligning investor and management incentives around milestone-driven outcomes. OrbiMed's dual expertise in equity and credit markets gives the firm distinctive insight into healthcare company fundamentals and enables comprehensive due diligence across the capital structure.
OrbiMed's Royalty & Credit series has established a track record spanning four prior funds, with the firm's broader private funds platform raising over $4.3 billion across its private investment vehicles in recent years. Limited partners in Fund V include medical institutions, university endowments, foundations, pension funds, sovereign wealth funds, and family offices from around the world, underscoring the fund's appeal across institutional investor categories.