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Finance Watch: VC Fundraising Dips In Q2, But Mega-Deal Pace Is Strong

First Half Of 2022 Venture Cash Equals 2019 Full-Year Total

 
• By Mandy Jackson and Ayisha Sharma

Private Company Edition: The amount of venture capital raised by biopharma firms fell but individual companies grabbed a lot of cash, making for a remarkable Q2 relative to pre-pandemic times. Recent Q3 rounds includes Frontera’s $160m series B. Also, Oxford Science Enterprises added €250m to its fund.

Finance Watch Private Company
• Source: Shutterstock

Venture capital fundraising by biopharmaceutical firms in the second quarter was a mixed bag, according to Venture Monitor data from Pitchbook and the National Venture Capital Association (NVCA), which reported a sharp drop from Q1 to Q2 in terms of both the amount of money raised and the number of companies that closed VC rounds, but a big gain in the average deal size.

In the second quarter, 210 biopharma companies raised $6.1bn, down from 302 companies that raised $11.6bn in the first quarter, and below the $9.7bn raised in Q2 of 2021 and $6.4bn in Q2 of 2020. But to put those numbers in perspective, both 2020 and 2021 were record years for venture capital fundraising by a wide margin

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