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Finance Watch: Venture Rounds Trend Toward The High End

Larger Financings Dominate As Volume Rises

 
• By Mandy Jackson

Private Company Edition: First quarter data again confirm fewer but larger VC rounds in Q1. Big Q2 rounds include a $132.5m series C round for Endeavor Biomedicines, a $103m series A round for Reunion Neuroscience and Enlaza’s $100m series A.

Finance Watch Private Company
• Source: Shutterstock

The quarterly Venture Monitor report from Pitchbook and the National Venture Capital Association (NVCA) reported biopharma start-ups raised $5.9bn in the first quarter of 2024 – more than the sector raised during three out of the four quarters of 2023 and $1.1bn more than the industry raised in Q1 of last year. But with just 209 transactions and an average deal size of $28.2m, the number of companies that raised VC funding was the lowest since Q3 of 2018 when 202 companies raised $4.5bn, or $22.3m on average.

The data reflect the ongoing trend of investors focusing more of their dollars on larger, later-stage opportunities – especially those...

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