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VC Funding Dips In Q3, But 2024 Already Bests Full-Year 2023

Mega-Round Surge Boosts Overall Totals

 
• By Mandy Jackson

Data from Evaluate show that biopharma venture capital investment fell from $7.95bn in Q2 to $6.59bn in Q3, but both outpaced every quarter in 2023 as the financial market recovery continues.

Screen display representing venture capital investment
VC investment dipped in Q3, but is up for the year • Source: Shutterstock

Venture capital investment in biopharmaceutical companies dropped by more than $1bn from the second to the third quarter, according to the latest data from Evaluate, but the amount of VC dollars invested in drug developers through the first nine months of 2024 is higher than the total for all of 2023.

Biopharma capital markets watchers have noted throughout this year that a recovery is under way, with fundraising conditions improving relative to 2022 and 2023, and the venture

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