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

Cowen, Longwood Reveal New Funds Totaling $735.6m

 
• By Mandy Jackson and Ian Haydock

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...

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