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Finance Watch: Q4 Venture Financings Slumped But 2024 Outlook Is Optimistic

New Year Begins With New Funds, New Deals

 
• By Mandy Jackson

Private Company Financings: Year-end data from Pitchbook/NVCA, like recent Evaluate numbers, show venture fundraising slid from the third to fourth quarters. However, Taiho increased its VC fund by $100m, Ji Xing closed a $162m series D round and MAPS raised more than $100m.

Finance Watch Private Company
• Source: Shutterstock

Venture capital fundraising by biopharmaceutical companies plunged in the fourth quarter to $4.3bn, down from $6.2bn in the third quarter and below the $5.7bn raised in Q4 of 2022, according to the latest Venture Monitor report from Pitchbook and the National Venture Capital Association (NVCA). Full-year 2023 funding fell to $18.4bn, down from $24.5bn in 2022 for US-based companies.

The Pitchbook/NVCA numbers track with the most recent venture capital data tabulated by Evaluate, which showed $3.71bn raised globally in Q4, down from $4.28bn in Q3, with the annual total dropping to $18.38bn in 2023 from $22.21bn in 2022. The Evaluate data, while capturing a global snapshot, exclude platform-only companies that have yet to name any drug candidates

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