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Finance Watch: VC Mega-Rounds Ease Into Summer Slowdown

Third Arc, Autobahn Are July’s Final $100m-Plus Deals

 
• By Mandy Jackson

Private Company Edition: Venture capital investment has moved into a slower summer pace, or maybe just shifted to small- and medium-sized biopharma financings. In addition to Third Arc’s $165m series A round, Brenig raised a $65m series A and Confo’s series B totaled €60m ($65m).

Finance Watch Private Company
• Source: Shutterstock

The first half of July brought an explosion of venture capital fireworks with several $100m-plus financings for biopharmaceutical companies, but the pace of mega-round announcements has fizzled out in the second half of July with just two such deals, including Third Arc Bio Inc.’s $165m series A round.

The other late July mega-round was a $100m series C round for Autobahn Therapeutics. (Also see "Autobahn Speeds Lead Drug Into Phase II With $100m In Fresh Cash" - Scrip, 24 July, 2024

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