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Finance Watch: Q2 Ends, Q3 Begins With Latest Group Of VC Mega-Rounds

Two New Venture Funds Also Revealed

 
• By Mandy Jackson

Private Company Edition: June ended with Formation Bio’s $372m series D round and July began with Beacon’s $170m series B. Also, Curie.Bio raised a $380m fund, Freeflow Ventures emerged with $90m across multiple funds and EvolutionaryScale raised a $142m seed round.

Finance Watch Private Company
• Source: Shutterstock

Biopharmaceutical venture capital fundraising is on the rise in 2024, boosted in part by surging numbers of $100m-plus mega-rounds, including a pair of large financings that ended June and started July – Formation Bio’s $372m series D round and a $170m series B for Beacon Therapeutics Holdings Limited.

New data from Evaluate Pharma show that biopharma firms raised $8.08bn during the second quarter of 2024, up from $6.53bn in Q1. The Q2 total included $5.35bn worth of venture...

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