April 28, 2023
After a decade-long boom, venture investment in biopharma has crashed to levels not seen since 2016.
But there are still some VCs investing in new biotech startups. Below is a list of the 100 biotech investors who are most active today, despite challenging markets.
The list includes the following info to help you target the right investors (items in bold are only available in the paid version of the spreadsheet):
The spreadsheet covers Series A and later rounds, so is not as useful for pre-seed and seed investors. We do not provide contact info. Cold emailing / mass emailing investors does not work 99% of the time.
The best way to get in touch with investors is getting a high quality referral from a founder they've already invested in (and ideally, a founder who's made that investor money). It takes a lot of work to build these relationships and get good intros, but if you don't do this work, it is very difficult to raise in this market.
| Updated April 27, 2023 | Lead investments | New non-lead investments | Follow-ons in existing portfolio | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Investor name | Investor strategy | Top geographies (% of investments per location) | Last 6 months | Since 2018 | % change in # inv, last 6 mo. | Last 6 months | Since 2018 | Last 6 months | Recent investments |
| ARCH Venture Partners | Series A Lead | Cambridge: 27%, San Diego: 16%, South San Francisco: 10% | 6 | 40 | 20% | 2 | 52 | 2 | Orbital Therapeutics, Volastra Therapeutics, Rapport Therapeutics, Chroma Medicine, Aera Therapeutics |
| Versant | Series A Lead | San Diego: 18%, Basel: 8%, Cambridge: 7% | 5 | 34 | 400% | 0 | 36 | 3 | Abdera Therapeutics, Santa Ana Bio, LENZ Therapeutics, Belharra Therapeutics, Launchpad Therapeutics |
| Pfizer Venture Investments | Series B Follow-on | Cambridge: 18%, Waltham: 7%, Cambridge, UK: 7% | 4 | 17 | 300% | 2 | 37 | 1 | Flare Therapeutics, Mediar Therapeutics, Ribon Therapeutics, Grey Wolf Therapeutics, Mediar Therapeutics |
| General Catalyst | Seed Lead | Palo Alto: 18%, San Francisco: 18%, San Diego: 18% | 4 | 7 | 0% | 0 | 10 | 0 | CTRL Therapeutics, ArriVent Biopharma, Faro Health, Vial, Odyssey Therapeutics |
| Sofinnova | Series A Lead | Cambridge: 18%, Boston, MA: 6%, Basel: 6% | 3 | 30 | 200% | 1 | 40 | 2 | ArriVent Biopharma, Mediar Therapeutics, Noema Pharma, Chroma Medicine, Amolyt Pharma |
| GV | Series A Follow-on | South San Francisco: 15%, Cambridge: 14%, Boston: 10% | 3 | 20 | 50% | 1 | 55 | 2 | EpiBiologics, Santa Ana Bio, Chroma Medicine, Aera Therapeutics, Cerevance |
| RA Capital Management | Series B Lead | San Diego: 10%, Cambridge: 10%, Boston: 7% | 3 | 60 | -63% | 5 | 115 | 4 | Alentis Therapeutics, Capacity Bio, LENZ Therapeutics, Bicara Therapeutics, Hemab |
| Orbimed | Series A Lead | San Diego: 12%, South San Francisco: 9%, Boston: 7% | 3 | 44 | -25% | 3 | 82 | 6 | Aer Therapeutics, ArriVent Biopharma, Garuda Therapeutics, ADARx Pharmaceuticals, Pathalys Pharma |
| Jeito Capital | Series A Lead | London: 20%, Basel: 20%, Paris: 13% | 3 | 11 | -25% | 1 | 13 | 0 | Alentis Therapeutics, Noema Pharma, CatalYm, HI-Bio, SparingVision |
| Qiming Venture Partners | Series A Lead | Shanghai: 14%, Suzhou: 10%, Cambridge: 7% | 3 | 14 | 50% | 1 | 25 | 1 | Abdera Therapeutics, Allorion Therapeutics, TandemAI, Oricell, Entact Bio |
| Perceptive Xontogeny | Series A Lead | Columbus: 22%, Philadelphia: 22%, Los Angeles: 11% | 3 | 5 | 200% | 2 | 8 | 0 | TORL BioTherapeutics, CARGO Therapeutics, Tellus Therapeutics, Peroxitech, Apogee Therapeutics |
| RTW Investments | Series B Lead | Seattle: 7%, Cambridge, MA: 7%, San Diego: 5% | 3 | 16 | 0% | 1 | 37 | 1 | Abdera Therapeutics, LENZ Therapeutics, CARGO Therapeutics, Oricell, Apogee Therapeutics |
| Flagship | Series A Lead | Cambridge: 79%, Cambridge, MA: 5%, Boston: 5% | 2 | 17 | 0% | 0 | 18 | 1 | Ring Therapeutics, Ampersand Biomedicines, Montai Health, Cellarity, Apriori Bio |
| Sanofi | Series B Lead | Cambridge: 26%, Copenhagen: 10%, San Diego: 10% | 2 | 12 | 100% | 2 | 25 | 1 | QurAlis, Avilar Therapeutics, NextPoint Therapeutics, Nextpoint Therapeutics, MinervaX |
| Wellington | Series B Follow-on | Cambridge: 14%, San Diego: 8%, South San Francisco: 7% | 2 | 18 | 100% | 2 | 46 | 3 | Seamless Therapeutics, Chroma Medicine, CARGO Therapeutics, MinervaX, Apogee Therapeutics |
| Polaris | Series A Lead | Cambridge: 18%, Boston: 10%, South San Francisco: 10% | 2 | 14 | 0% | 0 | 22 | 3 | EpiBiologics, Volastra Therapeutics, Noema Pharma, Faro Health, Jnana Therapeutics |
| The Column Group | Series A Lead | Cambridge: 22%, Menlo Park: 12%, San Diego: 10% | 2 | 16 | 0% | 0 | 18 | 2 | Hexagon Bio, Synthekine, Cajal Neuroscience, Casma Therapeutics, Carmot Therapeutics |
| Bain Capital Life Sciences | Series B Follow-on | Cambridge: 16%, Boston: 9%, San Diego: 9% | 2 | 11 | 100% | 0 | 25 | 0 | Jnana Therapeutics, Emalex Biosciences, Rivus Pharmaceuticals, Nimbus Therapeutics, Areteia Therapeutics |
| Novo | Series B Lead | Copenhagen: 8%, Cambridge: 6%, South San Francisco: 6% | 2 | 23 | 100% | 1 | 34 | 3 | Alentis Therapeutics, Adcendo, Hemab, Amolyt Pharma, Metagenomi |
| MPM Capital | Series A Lead | Cambridge: 44%, South San Francisco: 18%, Cambridge, MA: 12% | 2 | 13 | 0% | 0 | 15 | 1 | NextPoint Therapeutics, Nextpoint Therapeutics, Arialys Therapeutics, Photys Therapeutics, Orna Therapeutics |
| Third Rock | Series A Lead | Cambridge: 55%, South San Francisco: 18%, Boston: 9% | 2 | 20 | 100% | 0 | 20 | 2 | Flare Therapeutics, Rapport Therapeutics, CARGO Therapeutics, Casma Therapeutics, Terremoto Biosciences |
| Mubadala Ventures | Series A Follow-on | Salt Lake City, UT: 12%, Watertown: 8%, Durham: 8% | 2 | 6 | 100% | 2 | 18 | 0 | Hasten Biopharma, EpiBiologics, Chroma Medicine, Juvena Therapeutics, Neumora Therapeutics |
| Canaan | Series A Lead | South San Francisco: 14%, Oxford: 10%, Seattle: 7% | 2 | 13 | 100% | 0 | 13 | 1 | Aer Therapeutics, Halda Therapeutics, Grey Wolf Therapeutics, Normunity, Rondo Therapeutics |
| Catalio Capital Management | Series A Follow-on | Boston: 16%, South San Francisco: 13%, Cambridge: 13% | 2 | 9 | 0% | 5 | 27 | 0 | ArriVent Biopharma, Volastra Therapeutics, NextPoint Therapeutics, Perceive Biotherapeutics, Metagenomi |
| Access Industries | Series A Follow-on | Cambridge: 44%, San Diego: 12%, Redmond, WA: 8% | 2 | 11 | -33% | 0 | 18 | 0 | Hemab, Halda Therapeutics, Treeline Biosciences, Matchpoint Therapeutics, Acelyrin |
| New Enterprise Associates | Series A Lead | San Diego: 11%, Boston: 8%, Cambridge: 8% | 2 | 19 | -33% | 0 | 26 | 1 | Launchpad Therapeutics, Nexo Therapeutics, MBX Biosciences, Code Biotherapeutics, Splice Bio |
| venBio | Series A Lead | San Diego: 20%, Boston: 9%, Los Angeles: 6% | 2 | 17 | 0% | 0 | 21 | 0 | Abdera Therapeutics, Entact Bio, Acelyrin, ImmPACT Bio, Ceptur Therapeutics |
| Arix Bioscience | Series B Lead | Cambridge: 38%, Cambridge, UK: 15%, Boston: 8% | 2 | 5 | 0% | 0 | 6 | 0 | Evommune, Ensoma, Disc Medicine, Artios Pharma, Pyxis Oncology |
| Westlake Village BioPartners | Series A Lead | South San Francisco: 47%, Thousand Oaks: 13%, Los Angeles: 13% | 2 | 8 | -33% | 1 | 10 | 0 | Akamis Bio, Dantari, Vega Therapeutics, Acelyrin, ArsenalBio |
| Decheng Capital | Series B Lead | Shanghai: 14%, South San Francisco: 14%, San Diego: 14% | 2 | 10 | 100% | 0 | 13 | 0 | VintaBio, CG Oncology, Acelyrin, ImmPACT Bio, Acelyrin |
| Avalon Ventures | Series A Lead | La Jolla: 29%, La Jolla, CA: 29%, : 29% | 2 | 3 | 0% | 0 | 3 | 1 | Enlaza Therapeutics, Arialys Therapeutics, Jnana Therapeutics, Jnana Therapeutics, Janux Therapeutics |
| Lux Capital | Series A Follow-on | Salt Lake City, UT: 15%, New York: 11%, San Francisco: 11% | 2 | 9 | 0% | 0 | 15 | 1 | Aera Therapeutics, Enveda Biosciences, Cajal Neuroscience, Anagenex, Creyon Bio |
| Northpond Ventures | Series A Lead | Cambridge: 25%, Emeryville: 6%, Cambridge, MA: 6% | 1 | 20 | -80% | 0 | 22 | 1 | Faro Health, Garuda Therapeutics, EnPlusOne Biosciences, CAMP4 Therapeutics, Code Biotherapeutics |
| Goldman Sachs | Series B Follow-on | Cambridge: 20%, Los Angeles: 10%, Wellesley: 10% | 1 | 5 | 0% | 0 | 9 | 0 | TORL BioTherapeutics, Nested Therapeutics, MegaRobo Technologies, MOMA Therapeutics, Shanghai ZhenGe Biotech |
| Horizons Ventures | Series B Lead | Berkeley: 27%, Boston: 20%, London: 13% | 1 | 7 | 0% | 0 | 10 | 0 | Juvena Therapeutics, Carmot Therapeutics, Manifold Bio, Epic Bio, Kelonia Therapeutics |
| DCVC | Series A Lead | South San Francisco: 25%, San Diego: 19%, Salt Lake City, UT: 12% | 1 | 13 | -50% | 1 | 17 | 0 | Shennon Biotechnologies, Chroma Medicine, Novome Biotechnologies, Auron Therapeutics, Relation Therapeutics |
| Andreessen Horowitz | Series A Lead | South San Francisco: 28%, Cambridge: 22%, San Carlos: 9% | 1 | 13 | 0% | 0 | 17 | 1 | Orbital Therapeutics, Function Oncology, IDRx, Vicinitas Therapeutics, CAMP4 Therapeutics |
| Vivo | Series C Follow-on | Suzhou: 8%, San Diego: 8%, South San Francisco: 8% | 1 | 9 | -50% | 2 | 27 | 1 | EpiBiologics, Rgenta Therapeutics, Bonum Therapeutics, Zenas Biopharma, Inspirna |
| Medicxi | Series A Lead | Cambridge: 14%, Charlottesville: 9%, Foster City: 9% | 1 | 12 | 0% | 0 | 17 | 0 | Aldena Therapeutics, Rivus Pharmaceuticals, MiroBio, Versanis Bio, Rivus Pharmaceuticals |
| Syncona | Series A Lead | London: 36%, New York: 7%, Cambridge: 7% | 1 | 7 | -50% | 0 | 8 | 0 | Mosaic Therapeutics, SwanBio, OMass Therapeutics, Forcefield Therapeutics, Anaveon |
| Panacea Healthcare Venture | Series A Lead | Strasbourg: 17%, Berkeley: 17%, Cambridge: 17% | 1 | 4 | 0% | 0 | 6 | 0 | hC Bioscience, Domain Therapeutics, Actym Therapeutics, Oncologie, Tactiva Therapeutics |
| Forbion | Series A Lead | Naarden: 11%, Cambridge: 9%, Munich: 6% | 1 | 17 | -75% | 1 | 23 | 2 | Complement Therapeutics, Seamless Therapeutics, Noema Pharma, CatalYm, F2G |
| Gimv | Series A Follow-on | Cambridge: 22%, Marseille: 11%, Medfield: 11% | 1 | 4 | 0% | 2 | 7 | 0 | Complement Therapeutics, Mediar Therapeutics, Mediar Therapeutics, ImmunOs Therapeutics, Anjarium Biosciences |
| LYFE Capital | Series A Lead | Shanghai: 30%, San Diego: 30%, Philadelphia: 10% | 1 | 5 | 0% | 0 | 9 | 0 | iECURE, Aspen Neuroscience, Kyverna Therapeutics, Shanghai ZhenGe Biotech, Sciwind Biosciences |
| Apple Tree Partners | Series A Lead | Boston: 28%, Cambridge: 17%, New York: 11% | 1 | 14 | 0% | 0 | 15 | 0 | Aethon Therapeutics, Ascidian Therapeutics, Galvanize Therapeutics, Adendra Therapeutics, Intergalactic Therapeutics |
| Sectoral Asset Management | Series A Follow-on | Cambridge: 27%, Boston: 13%, Naarden: 13% | 1 | 3 | 0% | 1 | 7 | 2 | LENZ Therapeutics, Garuda Therapeutics, Amolyt Pharma, Apnimed, Mineralys Therapeutics |
| Leaps by Bayer | Series A Lead | Cambridge: 31%, Emeryville: 10%, Boston: 7% | 1 | 16 | -83% | 1 | 22 | 1 | NextPoint Therapeutics, Metagenomi, Nextpoint Therapeutics, Capstan Therapeutics, ReCode Therapeutics |
| Aisling | Series B Follow-on | Cambridge: 15%, Boston, MA: 10%, Stamford: 10% | 1 | 4 | 0% | 0 | 15 | 0 | Garuda Therapeutics, Treeline Biosciences, Forge Biologics, Antios Therapeutics, Garuda Therapeutics |
| Cambrian Biopharma | Series A Lead | New York: 40%, Gaithersburg, MD: 20%, Boston: 20% | 1 | 4 | 0% | 0 | 5 | 0 | Amplifier Therapeutics, Oviva Therapeutics, Vita Therapeutics, Arcellx, Sensei Biotherapeutics |
| Section 32 | Series B Follow-on | Cambridge: 36%, San Diego: 18%, South San Francisco: 9% | 1 | 7 | 0% | 0 | 25 | 1 | Function Oncology, Faro Health, Nested Therapeutics, BigHat Biosciences, Manifold Bio |
| Alexandria Venture Investments | Series A Follow-on | Cambridge: 25%, New York: 10%, San Diego: 10% | 1 | 4 | 0% | 7 | 87 | 3 | Orbital Therapeutics, TORL BioTherapeutics, Function Oncology, Ring Therapeutics, Chroma Medicine |
| Omega Funds | Series A Lead | New York: 9%, Waltham: 9%, Boston: 9% | 1 | 17 | 0% | 1 | 36 | 1 | Bicara Therapeutics, Chroma Medicine, NRG Therapeutics, Photys Therapeutics, CDR-Life |
| Nextech Invest | Series B Lead | San Diego: 21%, Cambridge: 14%, San Mateo: 7% | 1 | 16 | 0% | 1 | 29 | 3 | Flare Therapeutics, CARGO Therapeutics, Hexagon Bio, Alpha-9 Theranostics, Alterome Therapeutics |
| Pontifax Fund | Series A Follow-on | Lyon: 11%, New York: 7%, Atlanta: 7% | 1 | 5 | 0% | 0 | 16 | 1 | Adcendo, Amolyt Pharma, Anaveon, Emergence Therapeutics, Antios Therapeutics |
| Bill & Melinda Gates Foundation | Series B Lead | Cambridge: 25%, Boston: 8%, New York: 8% | 1 | 4 | 0% | 1 | 7 | 1 | Vedanta Biosciences, Smart Immune, Ensoma, Affinivax, Immunocore |
| Cambridge Innovation Capital | Series A Follow-on | Cambridge, UK: 50%, Dublin: 12%, London: 12% | 1 | 0 | 0% | 1 | 6 | 1 | Complement Therapeutics, Mosaic Therapeutics, Carrick Therapeutics, Pretzel Therapeutics, Microbiotica |
| Colt Ventures | Series A Lead | Newport Beach: 22%, Boston: 22%, Menlo Park: 22% | 1 | 2 | 0% | 0 | 4 | 0 | Alterome Therapeutics, Odyssey Therapeutics, Odyssey Therapeutics, ReCode Therapeutics, Erasca |
| First Round | Seed Lead | San Francisco: 33%, Palo Alto: 22%, Redwood City: 11% | 1 | 3 | 0% | 0 | 4 | 0 | Eigen Therapeutics, 64x Bio, Mythic Therapeutics, Reverie Labs, 64x Bio |
| Flerie Invest | Undisclosed Lead | London: 40%, Cambridge, UK: 20%, Jerusalem: 20% | 1 | 3 | 0% | 0 | 3 | 0 | Prokarium, Microbiotica, KAHR Medical, Amarna Therapeutics, Prokarium |
| DROIA Oncology Ventures | Series A Lead | South San Francisco: 25%, New York: 19%, Cambridge: 19% | 1 | 4 | 0% | 1 | 8 | 0 | QurAlis, Volastra Therapeutics, Vicinitas Therapeutics, Ambagon Therapeutics, Frontier Medicines |
| Red Tree Venture Capital | Series C Follow-on | San Mateo: 20%, Cambridge: 20%, Menlo Park: 20% | 1 | 2 | 0% | 0 | 3 | 1 | Bicara Therapeutics, CARGO Therapeutics, Alladapt Immunotherapeutics, Rondo Therapeutics, Pipeline Therapeutics |
| Schusterman Family Investments | Series A Lead | New York: 50%, Boston: 50% | 1 | 2 | 0% | 0 | 2 | 0 | Ratio Therapeutics, Immunai |
| Alpha Wave Global | Series C Follow-on | Cambridge: 25%, San Diego: 25%, Berlin: 25% | 1 | 0 | 0% | 1 | 6 | 1 | LENZ Therapeutics, Alto Neuroscience, Apnimed, Apnimed, Amylyx Pharmaceuticals |
| Hatteras Venture Partners | Series A Follow-on | Durham: 13%, Cambridge, MA: 13%, New Haven: 13% | 1 | 2 | 0% | 0 | 10 | 0 | Aer Therapeutics, Code Biotherapeutics, AN2 Therapeutics, Tune Therapeutics, Vigil Neuroscience |
| Duquesne Family Office | Series A Lead | New York: 50%, Boston: 50% | 1 | 2 | 0% | 0 | 2 | 0 | Ratio Therapeutics, Immunai |
| Brandon Capital | Series A Lead | Watertown: 11%, Menlo Park: 11%, Tel Aviv: 11% | 1 | 4 | 0% | 2 | 7 | 0 | Entact Bio, CatalYm, NRG Therapeutics, Pheon Therapeutics, Allay Therapeutics |
| Sante Ventures | Series A Lead | Boston: 50%, Plymouth Meeting, PA: 25%, San Diego: 25% | 1 | 4 | 0% | 0 | 4 | 0 | Sensorium Therapeutics, Nirogy Therapeutics, Libra Therapeutics, Geneos Therapeutics |
| EarlyBird Venture Capital | Series A Follow-on | Dublin: 33%, Lausanne: 33%, Oxford: 33% | 1 | 0 | 0% | 0 | 2 | 0 | Grey Wolf Therapeutics, Oculis, Priothera Limited |
| JJDC | Series A Follow-on | South San Francisco: 12%, Boston: 12%, Lexington, MA: 6% | 1 | 5 | 0% | 2 | 22 | 0 | Rapport Therapeutics, Perceive Biotherapeutics, SonoThera, Nucleome Therapeutics, Locus Biosciences |
| Parker Institute | Series A Lead | South San Francisco: 50%, Boston: 17%, Cambridge: 17% | 1 | 4 | 0% | 0 | 5 | 0 | Akamis Bio, ArsenalBio, Affini-T Therapeutics, ArsenalBio, Xyphos |
| Qatar Investment Authority | Series B Follow-on | Boston: 27%, Cambridge: 18%, Basel: 9% | 1 | 0 | 0% | 1 | 11 | 0 | Oricell, Ensoma, Sionna Therapeutics, Ventus Therapeutics, T-knife |
| Index Ventures | N/A | Delft: 100% | 1 | 0 | 0% | 0 | 1 | 0 | Cradle |
| GreatPoint Ventures | Series A Follow-on | Cambridge: 40%, New York: 20%, Boston: 20% | 1 | 0 | 0% | 0 | 3 | 0 | LinusBio, Odyssey Therapeutics, Glympse Bio, Glympse Bio, Skyhawk Therapeutics |
| UCB | Series A Lead | Leuven: 22%, Sheffield: 11%, Cambridge: 11% | 1 | 5 | 0% | 0 | 8 | 0 | Switch Therapeutics, Code Biotherapeutics, Splice Bio, Neurona Therapeutics, ExeVir Bio |
| Novo Seeds | Series A Lead | Copenhagen: 44%, Louvain-la-Neuve, Belgium: 11%, Aarhus, Denmark: 11% | 1 | 5 | 0% | 0 | 5 | 0 | Breye Therapeutics, Muna Therapeutics, Adcendo, IO Biotech, NorthSea Therapeutics |
| Asahi Kasei Pharma | Series B Follow-on | San Carlos: 40%, Tokyo: 20%, London: 20% | 1 | 0 | 0% | 0 | 4 | 0 | iVexSol, LUCA Science, Glycomine, Pulmocide, Glycomine |
| 3E Bioventures | Series A Lead | San Diego: 23%, San Carlos: 15%, Shanghai: 15% | 1 | 3 | 0% | 1 | 8 | 0 | Eluminex, Lipidio Pharmaceuticals, Dewpoint Therapeutics, Alebund Pharmaceuticals, Cullgen |
| Bow Capital | N/A | Berkeley: 67%, New York: 33% | 1 | 0 | 0% | 0 | 1 | 0 | LinusBio, GenEdit, GenEdit |
| Abingworth | Series A Lead | Boston: 17%, : 12%, Cambridge: 8% | 1 | 10 | 0% | 1 | 18 | 0 | Pathalys Pharma, Entact Bio, Anjarium Biosciences, HilleVax, Wugen |
| Novartis Venture Fund | Series A Lead | Cambridge: 17%, Boston: 13%, South San Francisco: 9% | 1 | 13 | 0% | 2 | 27 | 1 | Flare Therapeutics, Mediar Therapeutics, Mediar Therapeutics, CatalYm, Alto Neuroscience |
| ORI Capital | Series C Lead | Irvine: 60%, Natick: 20%, London: 20% | 1 | 3 | 0% | 0 | 3 | 0 | CG Oncology, AffyImmune, CG Oncology, CG Oncology, Orchard Therapeutics |
| Taiho Pharmaceutical | Series A Follow-on | Cambridge: 24%, Cambridge, MA: 12%, South San Francisco: 12% | 1 | 3 | 0% | 0 | 12 | 0 | hC Bioscience, Normunity, Transition Bio, Parthenon Therapeutics, Axial Therapeutics |
| TPG Biotech | Series A Follow-on | South San Francisco: 17%, Philadelphia: 17%, San Diego: 17% | 1 | 2 | 0% | 0 | 4 | 0 | Santa Ana Bio, ViaCyte, Carisma Therapeutics, Azura Ophthalmics, Neogene Therapeutics |
| SymBiosis | Series C Lead | Cambridge: 18%, Somerville, MA: 18%, Watertown: 9% | 1 | 4 | 0% | 0 | 8 | 1 | Metagenomi, Ensoma, SalioGen, PlateletBio, Vedanta Biosciences |
| Bristol Myers | Series B Follow-on | Cambridge: 26%, Copenhagen: 6%, Seattle: 6% | 1 | 5 | 0% | 3 | 24 | 0 | TORL BioTherapeutics, Mediar Therapeutics, iVexSol, Cajal Neuroscience, Capstan Therapeutics |
| Longitude | Series A Lead | New York: 7%, San Diego: 7%, Dublin: 7% | 1 | 10 | 0% | 1 | 17 | 1 | Alpha-9 Theranostics, CG Oncology, Zenas Biopharma, Rivus Pharmaceuticals, Endeavor BioMedicines |
| Alethea Capital | N/A | San Diego: 50%, La Jolla: 50% | 1 | 0 | 0% | 0 | 1 | 0 | Lipidio Pharmaceuticals, Avidity Biosciences |
| Catalys Pacific | Series A Lead | Philadelphia: 33%, La Jolla: 17%, San Diego: 17% | 1 | 2 | 0% | 0 | 3 | 1 | Pathalys Pharma, Arialys Therapeutics, Mineralys Therapeutics, HilleVax, Mineralys Therapeutics |
| Cormorant Asset Management | Series B Follow-on | Cambridge: 16%, San Diego: 9%, South San Francisco: 8% | 1 | 10 | -50% | 2 | 84 | 3 | OnKure, Chroma Medicine, CARGO Therapeutics, Garuda Therapeutics, Ensoma |
| Intermediate Capital Group | Series B Follow-on | Redmond, WA: 50%, San Diego: 25%, Lyon: 25% | 1 | 2 | 0% | 0 | 3 | 0 | Amolyt Pharma, Wugen, Eliem Therapeutics, Eliem Therapeutics |
| Amplitude Ventures | Series A Follow-on | Toronto: 22%, Vancouver: 22%, Menlo Park: 11% | 1 | 3 | 0% | 1 | 8 | 0 | Evommune, Abdera Therapeutics, Congruence Therapeutics, Gandeeva Therapeutics, Prilenia Therapeutics |
| MSD Capital | Series D Follow-on | Somerville, MA: 50%, London: 50% | 1 | 0 | 0% | 0 | 2 | 0 | Turbine, Finch Therapeutics |
| Deep Track Capital | Series B Follow-on | South San Francisco: 12%, Cambridge, MA: 12%, Cambridge: 12% | 1 | 0 | 0% | 3 | 15 | 0 | TORL BioTherapeutics, Hemab, Apogee Therapeutics, Lusaris Therapeutics, Abivax |
| Fidelity | Series C Follow-on | Cambridge: 18%, San Diego: 7%, South San Francisco, CA: 7% | 0 | 22 | -100% | 2 | 63 | 0 | Apogee Therapeutics, Emalex Biosciences, Odyssey Therapeutics, Galvanize Therapeutics, Dianthus Therapeutics |
| Deerfield | Series B Follow-on | South San Francisco: 11%, Cambridge: 9%, San Diego: 7% | 0 | 17 | -100% | 0 | 40 | 1 | Perceive Biotherapeutics, Innervace, Vicinitas Therapeutics, Apertura Gene Therapy, Aurion Biotech |
| F-Prime Capital | Series A Lead | London: 13%, Cambridge: 13%, Cambridge, MA: 9% | 0 | 16 | -100% | 1 | 26 | 2 | Bicara Therapeutics, TandemAI, Ensoma, Neumora Therapeutics, Sironax |
| Innovation Endeavors | Series A Follow-on | San Carlos: 14%, Palo Alto: 14%, Boston: 14% | 0 | 2 | 0% | 0 | 3 | 0 | Harmonic Discovery, Character Biosciences, GRO Biosciences, Eikon Therapeutics, BigHat Biosciences |
| Hummingbird VC | Series A Follow-on | Boulder: 40%, New York: 20%, Menlo Park: 20% | 0 | 2 | 0% | 0 | 3 | 1 | Enveda Biosciences, Kaleidoscope, Kernal Biologics, BillionToOne, Enveda Biosciences |
Analyzing performance of Series A VCs
Valuations of biotech startups from Series A to IPO
Bay Bridge Bio Startup Database
How to value biotech companies
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