Hong Kong healthtech investor Ori Capital hits first close on targeted $400m fund

A spokeswoman for the company said that Ori Capital has already reached the first close of the fund, gaining US$112 million in support. The final completion is expected to be announced at the end of 2021, she added.

Founded in 2015, Ori Capital focuses on opportunities in the global healthcare industry. “To be socially impactful, we prefer to invest in innovative companies that tackle large diseases with high mortalities,” its founder Simone Song wrote on the company’s website.

This is Ori Capital’s second healthcare-centered fund and will be double the size of its first vehicle that was launched in 2016 should it reach its target corpus. The company has invested in companies such as Arterys, CG Oncology, Affyimmune, and the NASDAQ-listed Orchard Therapeutics, according to its website.

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The move comes a day after Ori Capital has agreed to divest its portfolio immunotherapy firm Kymab to French pharmaceutical company Sanofi for up to US$1.5 billion. The deal will result in Sanofi having full global rights to Kymab’s KY1005, a fully human monoclonal antibody that has the potential to treat various immune-mediated diseases and inflammatory disorders.