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Finance Watch: The Rush To End 2023 With Fresh VC Cash For Biopharma

Three New Funds And An Investment Strategy Launched

 
• By Mandy Jackson

Private Company Edition: Playground’s third fund has $410m for tech, including biotech, Pivotal Life Sciences closed its second fund with $389m and Chugai will invest $200m through its new fund. Also, Tome launched with $213m, Sudo raised a $116m series B and Odyssey closed a $101m in series C.

Finance Watch Private Company
• Source: Shutterstock

The end of 2023 is proving no different from the end of any other year, with venture capital firms and biopharmaceutical companies closing out a flurry of new VC funds and financings before December draws to a close. Even with investment in the industry down substantially from 2022, interest in novel medicines and technologies continues at a multibillion-dollar pace.

Playground Global announced a new $410m fund on 14 December to back transformative technologies, including engineered biology alongside opportunities in next-generation computing, logistics, automation, infrastructure and decarbonization. Also, Pivotal Life Sciences unveiled its second fund with $389m for novel therapeutics and Chugai Pharmaceutical Co., Ltd

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