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Finance Watch: Mega-Rounds Help 2024 Biopharma VC Funding Exceed 2023

Big Series A Rounds: $95m for Jade, $92m For Kivu

 
• By Mandy Jackson

Private Company Edition: Despite a third quarter dip, venture capital investment in biopharma in 2024 is on track to beat 2023, new data confirm. VC mega-rounds of $100m or more helped boost the total, including recent financings totaling $175m for Alpha-9 and $112m for AvenCell.

Finance Watch Private Company
• Source: Shutterstock

The latest third quarter data from the National Venture Capital Association (NVCA) and Pitchbook’s Venture Monitor report confirm recent data compiled by Evaluate Pharma, which showed that VC investment in biopharma firms fell from Q2 to Q3, but the full-year 2024 total is on track to beat 2023 by a wide margin.

A Good Year For VC Funding

The NVCA/Pitchbook data show that venture capital financing fell from $8.9bn invested in 229 biopharma companies in Q2 to $5.9bn invested in 199 companies in Q3, but even with the...

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