OrbiMed Advisors raises $431.5m

OrbiMed Advisors has raised $431.5 million to date for its OrbiMed Asia Partners III, per a SEC filing. The New York-headquartered firm has set a $450 million target and began fundraising in 2016. The SEC filing did not disclose whether the capital raise constituted a final or interim close.

Its previous fund raised $325 million in 2014.

The fund will target growth equity opportunities in healthcare sectors in the Asia-Pacific.