Finance Watch: The Growing $100m-Plus VC Club

Private Company Edition: Venture capital mega-rounds continue to add up, including recent financings for Connect Biopharma ($115m) and Synthego ($100m). Also, Civilization Ventures closed a new $35m fund and Triumvira launched with $55m.

Venture capital investment in the biopharmaceutical industry continues to be massive in terms of both the number of companies raising funds and the size of funding rounds despite the ongoing economic uncertainty associated with the COVID-19 pandemic. There have been many mega-rounds of $100m or more, including recent financings for Connect Biopharmaceuticals, Ltd. and Synthego Corp.

Immune modulation specialist Connect Biopharmaceuticals, Ltd. announced a $115m series C round 24 August, which was the same day Kronos Bio, Inc. revealed a $155m convertible note financing to...

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