Biopharmaceutical companies have raised one venture capital mega-round after another in 2024 – with several of the $100m-plus financings often announced on the same day – and first quarter VC fundraising data from Evaluate show that big bets placed by investors on drug developers during the quarter added up to a rebound in venture financing.
Key Takeaways
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Venture capital fundraising rose from $4.21bn in the first quarter of 2023 to $6bn in Q1 of 2024, but the number of financings fell as fewer companies raised larger rounds.
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With M&A and IPO activity on the rise, VC funding could increase further in 2024
A review of Evaluate’s database showed that biopharma companies raised $6bn in venture capital during Q1, including $3.74bn worth of $100m-plus financings, $1.39bn in $50m-$100m rounds and $0.87bn in rounds totaling $50m or less
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