Finance Watch: Patient Square Capital Raises Mega-Fund, Topping Out At $3.9bn

Follows Dimension’s New $350m Tech-Focused Life Science Fund

Private Company Edition: Patient Square’s private equity fund, which surpassed its $3bn fundraising goal, may invest broadly across health care but the firm already has invested heavily in biopharma. Also, investor Dimension launches with a $350m specialized VC fund and Alto increased its series B to $60m.

Finance Watch Private Company — • Source: Shutterstock

Few biopharmaceutical companies have announced $100m-plus venture capital mega-rounds so far this year and the ability to raise cash in 2023 generally has been described as muted relative to the record-breaking years of 2021 and 2022. But a new source of funding has emerged with a very large pot of cash – Patient Square Capital’s inaugural $3.9bn private equity fund – and based on the firm’s history of investments, mega-rounds may be back on the table for some drug developers this year.

Patient Square Equity Partners, as the fund is known, exceeded Patient Square Capital’s $3bn fundraising goal, the firm said on...