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Finance Watch: Public Market Doldrums Have Not Sunk Private Company Funding Yet

Venture Capital Kept Up Near-Record Pace In Q1

 
• By Mandy Jackson and Kevin Grogan

ARCH closed a $3bn VC fund to end the month of June while in the same week six public biopharma firms said they are cutting jobs. Even so, some publicly traded companies have been able to launch sizeable offerings, including a $450m note sale by Cytokinetics and Xenon’s $250m follow-on. 

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The difference between fundraising by private biopharmaceutical companies and publicly traded drug developers has been stark in 2022. In fact, the last few days of June were emblematic of the long lag between plunging stock prices and their impact on venture capital.

In the same week that ARCH Venture Partners raised a $2.975bn venture capital fund – 27 June to 1 July...

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