New York-based OrbiMed, a healthcare-focused investment firm, has closed its sixth venture capital fund, OrbiMed Private Investments VI, LP, with total committed capital of $950 million, according to a statement. Investors in the fund include some of the preeminent medical research institutions globally, along with leading endowments, foundations and sovereign wealth funds. Consistent with its predecessor funds, the new fund will invest in all stages and sectors of the healthcare industry, with a focus on biopharmaceuticals, medical devices, diagnostics and healthcare IT companies located in North America and Europe. The new fund is expected to invest in approximately 30 portfolio companies in amounts generally ranging from $10-$75 million. “The increasing pace of translation of science to medicine creates exciting opportunities for the Fund in areas such as oncology, central nervous system disease, and gene editing,” Carl Gordon, a partner at OrbiMed and co-head of Global Private Equity said. OrbiMed invests globally across the spectrum of healthcare companies, from venture capital start-ups to large multinational companies utilizing a range of private equity funds, public equity funds, royalty/debt funds and other investment vehicles. The firm has over $16 billion in assets under management currently with additional offices in San Francisco, Shanghai, Mumbai and Herzliya. It has also been an active investor in the Asian markets. In India, the firm recently led a $50 million (about Rs 325 crore) round of funding in online pharmacy marketplace Netmeds.com, the Chennai-based startup. It had earlier invested in companies like biotechnology firm Bharat Serums, healthcare service provider Codis India, clinical research venture Ecron Acunova, drug maker Shasun Pharmaceuticals and hospital chains KIMS and Surya Children's Medicare. Also Read: India: Snapdeal-backer Nexus Venture Partners closes Fund IV at $450m Exclusive: Indonesia-focused PE firm Northstar Group closes fourth fund at $800m