September ended and October began with an explosion of new venture capital available for biotech companies, raising expectations for VC fundraising by drug developers through the rest of 2024, especially after one major life science investor revealed a multibillion-dollar fund. ARCH Venture Partners announced on 26 September that it closed ARCH Venture Fund XIII with more than $3bn to found new start-ups and support the growth of existing early-stage companies.
Finance Watch: More Than $4.2bn Raised Across Four New VC Funds
Triveni, Nusano Garnered $115m Each For Clinical Assets
Private Company Edition: ARCH raised more than $3bn for its eighth fund, Frazier added $630m to its public fund that also can back crossover rounds, DCVC’s third biotech fund totaled $400m and Asabys raised €180m ($200m) for its second fund. Also, Aktis closed a $175m series B round.
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