Finance Watch: Mega-Rounds Make A Comeback, But Will VC Funding Totals Rise Too?

Cowen, Longwood Reveal New Funds Totaling $735.6m

Private Company Edition: Venture capital mega-rounds of $100m or more held steady in April after a slow January and February then a surge in March, but VC fundraising is down overall this year. In recent raises, Enveda series B expanded to $119m, Vedanta brought in $106.5m and Convergent raised $90m.

Finance Watch Private Company — • Source: Shutterstock

Venture capital fundraising by biopharmaceutical companies has been a mixed bag so far in 2023, with a slow start to the year but a relative surge in big financings in March and April. There were only seven $100m-plus VC mega-rounds in January and February combined, but there were seven in March and another seven in April – and last month brought the two largest rounds so far this year.

Hasten Biopharmaceutic Co., Ltd. completed a $315m venture capital round on 20 April and Orbital Therapeutics closed a...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

Start your 7-day free trial
Explore trusted news, analysis, and insights
Access comprehensive global coverage
Enjoy instant access – no credit card required

Start Free Trial

Already a subscriber?

Finance Watch: Two New Venture Capital Funds Provide $600m For Biopharma

09 Jul 2025

• By Mandy Jackson

Private Company Edition: Catalio raised more than $400m for its fourth health care-focused VC fund, while AN Venture Partners raised $200m for Japan and beyond. In VC financings, among a dearth of mega rounds, Neuron23’s $96.5m series D is the largest round in recent weeks.

Finance Watch: A Mini-Surge In Follow-On Offerings Follows Positive Updates

07 Jul 2025

• By Mandy Jackson

Public Company Edition: A breakthrough designation, data and deals prompted big follow-on public offerings in late June and early July, including $402.5m for Cidara, $250.8m for Kymera and $230m for Dyne. Also, Revolution Medicines accessed up to $2bn from Royalty Pharma.

Finance Watch: Scorpion Spinout Antares Launches With $177m For Precision Medicines

13 Jun 2025

• By Mandy Jackson

Private Company Edition: Antares’ lead asset will enter the clinic in 2026 after Lilly committed up to $2.5bn for Scorpion’s Phase I/II PI3Kα inhibitor STX-478. Also, Amplify raised $200m for its first biotech VC fund and Mosanna raised an $80m series A round, among other financings.

Finance Watch: Insmed Cashes In On Positive Data With $750m Offering

12 Jun 2025

• By Mandy Jackson

Public Company Edition: Insmed raised $750m after reporting positive Phase IIb data in PAH, Cogent accessed up to $400m in new debt, Kelun-Biotech netted $250m in a placement of shares and ADC revealed a $100m private placement. In strategic updates, Recursion cut 20% of its jobs.

Venture Funding Plummets In Q2 As Mega-Rounds Falter

08 Jul 2025

• By Mandy Jackson

Evaluate’s second quarter data show that VC rounds of $100m or more totaled $2.36bn, down from $5.25bn in Q2 of 2024. Overall, the Q2 total dropped year-over-year to $4.92bn from $7.95bn.