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Finance Watch: Mega-Rounds Take A Breather After Giving Life To VC Funding In 2024

Newleos Launched With $93.5m In Series A Cash

 
• By Mandy Jackson

Private Company Edition: $100m-plus venture capital mega-rounds drove biopharma company fundraising closer to record-breaking levels in 2024, but the pace of big VC deals has slowed aside from Callio’s $187m series A, Eikon’s $350.7m series D and Enveda’s series C extension to $150m.

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• Source: Shutterstock

Venture capital mega-rounds of $100m or more drove the overall increase in VC funding raised by biopharmaceutical companies in 2024, as Evaluate data recently revealed, and as the National Venture Capital Association (NVCA) quarterly Venture Monitor report also shows. The NVCA report tallied $25.3bn in VC financings in 2024, up from $21bn in 2023, but the number of deals is striking – only 940 biopharma companies raised venture cash last year versus 1,030 in the prior year.

When biopharma VC financings dropped from $29.9bn invested in 1,149 companies in 2022 to $21bn invested in 1,030 companies in 2023, the average deal size also decreased from $26m to...

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