---
title: "OrbiMed's Two New Funds Report $2.97 Billion in Commitments, $763.5 Million More Than Their Previous Filings"
url: https://altstreet.investments/news/orbimed-private-investments-x-asia-partners-vi-form-d-2-97-billion-2026-10-16
kind: news-article
updated: 2026-10-19
description: "OrbiMed Private Investments X ($1.92B) and Asia Partners VI ($1.05B) Form D/As of October 16, 2026: $763.5 million more than their previous filings."
publisher: AltStreet (https://altstreet.investments)
license: Public factual pages may be read, quoted and cited with attribution and a link. Bulk redistribution is not permitted.
---

# OrbiMed's Two New Funds Report $2.97 Billion in Commitments, $763.5 Million More Than Their Previous Filings

Form D amendments filed the day after OrbiMed announced $3 billion raised put OrbiMed Private Investments X at $1.92 billion and OrbiMed Asia Partners VI at $1.05 billion, each above the offering amount it first listed and larger than its predecessor's announced size.

By Michael E., Head of Research, AltStreet Research (https://altstreet.investments/authors/michael-e). Published October 19, 2026. Entity: OrbiMed Private Investments X, LP (CIK 2087033, https://altstreet.investments/edgar/2087033).

OrbiMed's two newest private equity funds reported $2.97 billion in commitments in Form D amendments filed October 16, 2026, a day after the New York healthcare investor announced it had raised $3 billion for them. OrbiMed Private Investments X, which invests in U.S. and European life sciences venture capital, reported $1.92 billion from 131 investors; OrbiMed Asia Partners VI, which invests in healthcare growth equity and venture capital across Asia, reported $1.05 billion from 72.

That is $763.5 million more than the funds' previous amendments reported: $251.9 million more for Private Investments X since April and $511.6 million more for Asia Partners VI since May. Each now reports commitments above the offering amount on its earlier notices, $1.75 billion and $850 million, with the offering amount raised to match and nothing listed as remaining.

## What the filings show

Both notices say the amount sold includes capital committed by the general partner, and under the Form D instructions it counts commitments not yet called, so the totals measure commitments rather than invested capital. The notices do not say "final close"; nothing remaining is the offering status they report, not a contractual closing date.

The notices describe the fee basis without the rates: an OrbiMed affiliate is paid a management fee equal to a percentage of limited partners' subscriptions during the investment period and a percentage tied to invested capital afterward. Selling agents, UBS Switzerland AG and Merrill Lynch for both funds and J.P. Morgan Securities for Asia Partners VI, are paid a percentage of the commitments of investors they introduce, and those payments are offset against the management fee.

|  | Private Investments X | Asia Partners VI |
| --- | --- | --- |
| Amount sold, previous amendment | $1,669,183,000 (2026-04-30) | $533,984,000 (2026-05-28) |
| Amount sold, October 16 | $1,921,099,472 | $1,045,599,648 |
| Increase | $251,916,472 | $511,615,648 |
| Investors | 119 to 131 | 45 to 72 |
| Offering amount | $1,750,000,000 to $1,921,099,472 | $850,000,000 to $1,045,599,648 |
| Filing | [0002087033-26-000002](https://www.sec.gov/Archives/edgar/data/2087033/000208703326000002/) | [0002087034-26-000003](https://www.sec.gov/Archives/edgar/data/2087034/000208703426000003/) |

Both funds report a first sale on September 30, 2025 and rely on Rule 506(b) with Investment Company Act section 3(c)(7). Increases are between filings and do not date individual commitments.


## Background

Both funds are larger than their predecessors' announced sizes. OrbiMed announced $1.5 billion for Private Investments VIII and $800 million for Asia Partners IV in March 2021. Its October 2023 release reported more than $4.3 billion across Private Investments IX, Asia Partners V and a royalty and credit fund without a split; its counsel, Gunderson Dettmer, put Private Investments IX at just over $1.86 billion and Asia Partners V at $751 million. The October 2026 release describes OrbiMed as managing over $21 billion and its investors as medical institutions, endowments, foundations, pension funds, sovereign wealth funds and family offices.


## Why it matters

The amendments put exact figures behind a rounded announcement and show where the money came in late: Asia Partners VI nearly doubled its reported commitments after May, while Private Investments X added about 15% after April. Against the predecessors' announced sizes, the Asia fund grew by about two fifths and the global venture fund by a few percent.


## What the filings do not show

The notices do not identify investors, give fee rates or terms, split general partner from investor commitments, or show how much has been called or invested. The predecessor sizes are announced figures, and one split comes from OrbiMed's counsel rather than its own release.


## Key facts

- OrbiMed Private Investments X, LP (CIK 0002087033): Form D/A 2026-10-16 (0002087033-26-000002), $1,921,099,472 from 131 investors; prior D/A 2026-04-30, $1,669,183,000 from 119; increase $251,916,472; offering amount $1,750,000,000 raised to equal the amount sold, $0 remaining.
- OrbiMed Asia Partners VI, L.P. (CIK 0002087034): Form D/A 2026-10-16 (0002087034-26-000003), $1,045,599,648 from 72 investors; prior D/A 2026-05-28, $533,984,000 from 45; increase $511,615,648; offering amount $850,000,000 raised to equal the amount sold, $0 remaining.
- Together $2,966,699,120, up $763,532,120 since the previous amendments; OrbiMed's release of 2026-10-15 announced $3 billion (over $1.9 billion and over $1 billion).
- Both notices: amount sold includes general partner commitments; management fee on LP subscriptions during the investment period and on invested capital afterward (rates not disclosed); selling-agent compensation offset against management fees; agents UBS Switzerland AG, Merrill Lynch (both) and J.P. Morgan Securities (Asia VI).
- Announced predecessor sizes: Private Investments VIII $1.5 billion and Asia Partners IV $800 million (OrbiMed, March 2021); Private Investments IX just over $1.86 billion and Asia Partners V $751 million (Gunderson Dettmer client note on OrbiMed's October 2023 $4.3 billion release).


## Sources

- OrbiMed Private Investments X, LP, Form D/A (October 16, 2026): https://www.sec.gov/Archives/edgar/data/2087033/000208703326000002/
- OrbiMed Private Investments X, LP, Form D/A (April 30, 2026): https://www.sec.gov/Archives/edgar/data/2087033/000208703326000001/
- OrbiMed Asia Partners VI, L.P., Form D/A (October 16, 2026): https://www.sec.gov/Archives/edgar/data/2087034/000208703426000003/
- OrbiMed Asia Partners VI, L.P., Form D/A (May 28, 2026): https://www.sec.gov/Archives/edgar/data/2087034/000208703426000002/
- OrbiMed Raises $3 Billion Across Global and Asia Private Equity Funds (October 15, 2026): https://www.prnewswire.com/news-releases/orbimed-raises-3-billion-across-global-and-asia-private-equity-funds-302909249.html
- OrbiMed Raises $3.5 Billion Across Private Investment Funds (March 1, 2021): https://www.orbimed.com/orbimed-raises-3-5-billion-across-private-investment-funds/
- OrbiMed Raises Over $4.3 Billion Across Private Investment Funds (October 24, 2023): https://www.orbimed.com/orbimed-raises-over-4-3-billion-across-private-investment-funds/
- OrbiMed Raises $4.3B Across Private Investment Funds to Invest in Healthcare (October 24, 2023): https://www.gunder.com/en/news-insights/client-news/orbimed-raises-4-3b-across-private-investment-funds-to-invest-in-healthcare
- SEC Form D and instructions (amount sold includes mandatory capital commitments): https://www.sec.gov/files/formd.pdf


## SEC accession numbers

- 0002087033-26-000002
- 0002087034-26-000003

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