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With Q4 Data In, Biopharma VC Fundraising Reached Highest Total Since 2021

Fourth Quarter Continued Trend Of Uptick From 2023

 
• By Mandy Jackson

Evaluate data from the fourth quarter of 2024 show another period of venture capital fundraising that beat each quarter of 2023, as $100m-plus mega-rounds surged.

The fourth quarter cemented 2024's surge in venture capital fundraising versus 2023 (Shutterstock)

Venture capital fundraising by biopharmaceutical companies rose to $7.11bn in the fourth quarter of 2024, after falling to $6.46bn in Q3 from $7.95bn in Q2, according to data from Evaluate. But the year has shown a significant rebound. By the end of Q3, the 2024 fundraising total already exceeded the full-year 2023 total of $19.61bn, and with the Q4 data in hand, venture fundraising last year totaled $28.05bn, also beating the $27.27bn raised by drug developers in 2022.

Each quarter of 2024 exceeded each of the quarters in 2023, driven by a surge in VC mega-rounds of $100m or more. Evaluate’s data show that VC financings in the $100m-plus category totaled $3.79bn-$5.25bn during each of the four quarters of 2024, but the quarterly mega-round totals exceeded those levels during only four quarters between Q1 2020 and Q4 2023

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