OrbiMed has announced it has raised $3.5 billion in commitments for its latest private investment funds.

The investments are broken down as follows:

• $1.5 billion for OrbiMed Private Investments VIII, which invests primarily in North America and Europe with a focus on biotechnology, medical device and diagnostics companies
• $800 million for OrbiMed Asia Partners IV, which invests primarily in China and India with a focus on biotechnology, pharmaceuticals, medical devices, diagnostics and healthcare services
• $1.2 billion for OrbiMed Royalty & Credit Opportunities III, which invests globally with a focus on healthcare companies and institutions

OrbiMed, headquartered in New York, is a life sciences investment firm with about $18 billion in assets under management.