by Richard Murphey
It's a good time to be in biotech. Despite the COVID-19 pandemic, biotech venture funding is at record levels -- and the pace of investment is accelerating. 2021 is on pace to see nearly double the amount of VC investment compared to 2020, which was the previous record year.
2021 is shaping up to be a great year for exits as well, with the IPO market set to nearly double the activity seen in 2020.
There is a lot of money being made. Which investors are making the most?
This post will describe the top biotech venture capital firms from 2018 to today:
Perhaps most encouragingly, the biggest investments and exits were for companies with life-saving medicines and transformational technology. The industry now seems to value true innovation more than incremental advances and me-too drugs. If you're interested in seeing what kind of startups investors are funding, checkout our searchable list of recently funded biotech startups.
A quick note -- in this post, I use "biotech" and "biopharma" interchangeably to mean companies developing FDA-regulated prescription medicines -- no devices, diagnostics, etc.
In the last 18 months, the biggest changes to the biopharma venture landscape are 1) crossover investors and hedge funds becoming more active at earlier stages and 2) emerging "tech-bio" funds becoming more active at the Series A stage. As a consequence, the established biotech VCs have been squeezed from both downstream crossover investors and upstream "tech-bio" seed / Series A investors ("tech-bio" refers to investors that come from the software / tech world and have become active in biotech).
Crossover investing started to pick up around 2012 when hedge funds and other public equity funds started investing in private companies in an effort to boost returns. As the IPO market has become more accessible to earlier stage companies, and as later-stage VC has become more crowded, crossover investors have moved earlier. Crossover investors led 27% of Series B rounds through the first eight months of 2021. That's a huge increase compared to 2018 and 2019, when crossovers led 13-14% of B rounds.
Crossover investors are largely picking up where Chinese investors left off. Chinese investors were some of the most active funders of biotech startups in the world in 2018, but that ground to a near halt in 2019 due to US-China geopolitical tensions.
While the mid- and late-stage venture markets have become increasingly crowded, early stage funding has historically been dominated by traditional biotech VCs. During 2021, crossover and "tech-bio" investors have taken some share of the Series A market from the traditional biotech VCs. Established biotech VCs led 40% of Series A deals each year from 2018-2020, but that is down to 35% through the first eight months of 2021. If the biotech market remains hot, it is likely that traditional Series A biotech investors will continue to lose share to more crossover and "tech-bio" investors entering the sector, though the established funds will likely remain the largest players.
The top biotech VCs have some fairly durable competitive advantages, ranging from fully staffed wet lab facilities capable of incubating companies in house to softer advantages like relationships (with pharma, universities and downstream investors), reputations and track records. Academic researchers, who may have one or two opportunities to start a company in their whole career, tend to prefer working with VCs with strong track records to ensure their "baby" is in good hands (though this competitive advantage will likely erode as crossover and "tech-bio" VCs establish their track records and offer better terms to founders). The best funds also have a good sense for picking winners and conducting diligence (and avoiding blowups like Zymergen, uBiome and Theranos), although if the market stays hot, downstream investors will continue to be more risk tolerant (and have less time to conduct diligence during competitive deal processes).
On the other hand, crossover and "tech-bio" investors have some advantages over the established early-stage funds. Crossover investors have strong relationships with IPO investors and significant IPO experience. "Tech-bio" investors execute deals more quickly with more founder-friendly terms, and in many cases have active marketing arms that help these funds generate interest among LPs and downstream investors.
Deal-level cash-on-cash returns, proceeds from exits, check sizes, and more for 1,500+ biopharma investors covering $80B+ in global venture investment.
While the total amount of money invested into biotech startups has increased dramatically, the number of active investors has increased more slowly. An increase in deal sizes accounts for a lot of the increase in deal volume, as the top companies get increasingly large amounts of capital to work with.
Until 2021, the top Series A investors have been company creators, with many of their Series A investments going to companies they build in-house. This is changing. More crossover investors and hedge funds are becoming active at the Series A stage, and "tech-bio" investors, who have been focused on seed deals for the last few years, are starting to invest more in Series A deals. There are currently only a handful of tech-bio investors who lead more than a couple Series A deals each year, but there are dozens of tech-bio seed funds that are looking to write larger checks.
What about the top Series B investors?
Below are the VCs who made the most from exits in 2018 through August 2021. This list includes biotech startups that raised $50M+ on NASDAQ or NYSE or were acquired while public (we don't have data for private M&A). The market values assume the investor held all shares since IPO. This table only includes data for companies where investors held 5% or more of common shares pre-IPO.
|Firm name||Num. of portfolio IPOs||Num. of portfolio public M&A||Proceeds at IPO price||Proceeds at Aug 20, 2021||Portfolio IPOs||Portfolio public M&A|
|Flagship||9||0||$2,287,168,437||$23,217,458,102||Axcella Health, Evelo Biosciences, Kaleido Biosciences, Moderna Therapeutics, Rubius Therapeutics, Sigilon Therapeutics, Foghorn Therapeutics, Codiak Biosciences, Sana Biotechnology|
|Viking Global||11||0||$1,350,505,881||$4,568,187,217||BridgeBio, Moderna Therapeutics, Zentalis Pharmaceuticals, Athira Pharma, PMV Pharma, 4D Molecular Therapeutics, Edgewise Therapeutics, Pharvaris, AbCellera, Talaris Therapeutics, Rallybio|
|Orbimed||34||7||$2,170,362,158||$3,381,970,520||Alector, Armo Biosciences, Arcutis Biotherapeutics, Arvinas, Crinetics, 89Bio, Harpoon Therapeutics, Imara, Keros Therapeutics, LogicBio Therapeutics, NextCure, Passage Bio, Prevail Therapeutics, Repare Therapeutics, SpringWorks Therapeutics, Tricida, Synthorx, resTORbio, Turning Point Therapeutics, Verrica Pharmaceuticals, Galecto Biotech, PMV Pharma, Kinnate Biopharma, Graybug Vision, Silverback Therapeutics, Prelude Therapeutics, Fusion Pharmaceuticals, Terns Pharmaceuticals, Edgewise Therapeutics, Decibel Therapeutics, Oric Pharmaceuticals, Ikena Oncology, VectivBio, Janux Therapeutics||Armo Biosciences, Principia Biopharma, Prevail Therapeutics, Synthorx, Clementia Pharmaceuticals, Audentes Therapeutics, Loxo Oncology|
|Foresite Capital||11||1||$940,863,000||$1,904,576,367||Fulcrum Therapeutics, Keros Therapeutics, Arcus Biosciences, Replimune, Turning Point Therapeutics, Kinnate Biopharma, 10x Genomics, Pharvaris, Cullinan Oncology, Nurix Therapeutics, Lyell Immunopharma||Aimmune Therapeutics|
|KKR||3||0||$680,224,079||$1,853,946,441||BridgeBio, Oyster Point Pharma, Impel NeuroPharma|
|Venrock||7||2||$663,556,450||$1,828,714,686||Constellation Pharmaceuticals, Kiniksa Pharmaceuticals, Milestone Pharmaceuticals, Unity Biotechnology, 10x Genomics, Instil Bio, Cyteir Therapeutics||Constellation Pharmaceuticals, AveXis|
|Fidelity||24||3||$413,275,115||$1,764,463,225||Akouos, Axcella Health, BioNTech, Evelo Biosciences, Generation Bio, Kiniksa Pharmaceuticals, Neon Therapeutics, Rubius Therapeutics, Scholar Rock, Unity Biotechnology, Shattuck Labs, Codiak Biosciences, Taysha Gene Therapies, Vor Biopharma, 10x Genomics, Poseida Therapeutics, AlloVir, Seer, Ikena Oncology, Vera Therapeutics, Ambrx, Monte Rosa Therapeutics, Nuvalent, Tenaya Therapeutics||Translate Bio, MyoKardia, Dermira|
|ARCH Venture Partners||13||1||$1,232,735,342||$1,734,755,801||Beam Therapeutics, Homology Medicines, Gossamer Bio, Karuna Pharmaceuticals, Scholar Rock, Unity Biotechnology, Codiak Biosciences, Metacrine, Sana Biotechnology, Singular Genomic Systems, Erasca, Verve Therapeutics, Lyell Immunopharma||Juno Therapeutics|
|Atlas Venture||12||1||$1,090,018,499||$1,555,956,506||Akero Therapeutics, Avrobio, Bicycle Therapeutics, Generation Bio, Magenta Therapeutics, Replimune, Surface Oncology, Unum Therapeutics, Dyne Therapeutics, Kymera Therapeutics, Ikena Oncology, Day One Biopharmaceuticals||Translate Bio|
|RA Capital Management||29||3||$935,377,760||$1,379,783,684||Akouos, Arvinas, Black Diamond Therapeutics, Crinetics, 89Bio, Forma Therapeutics, Imara, Lyra Therapeutics, Vaxcyte, Prevail Therapeutics, Solid Biosciences, Satsuma Pharmaceuticals, Synthorx, Olema Oncology, Dyne Therapeutics, Kinnate Biopharma, Vor Biopharma, Bolt Biotherapeutics, iTeos Therapeutics, Inozyme, Connect Biopharmaceuticals, Achilles Therapeutics, Day One Biopharmaceuticals, Werewolf Therapeutics, Janux Therapeutics, Acumen Pharmaceuticals, Aerovate Therapeutics, Cyteir Therapeutics, Icosavax||Prevail Therapeutics, Synthorx, Ra Pharmaceuticals|
|Baker Brothers||12||2||$816,473,050||$1,349,045,720||Atreca, Cabaletta Bio, Forma Therapeutics, Hookipa Pharma, IGM Biosciences, Kiniksa Pharmaceuticals, Kodiak Sciences, Prelude Therapeutics, Aligos Therapeutics, Immunocore, Achilles Therapeutics, TScan Therapeutics||Principia Biopharma, Spark Therapeutics|
|GlaxoSmithKline||8||3||$855,760,912||$1,305,570,684||Bicycle Therapeutics, Fulcrum Therapeutics, Morphic Therapeutic, Orchard Therapeutics, Turning Point Therapeutics, Decibel Therapeutics, Pandion Therapeutics, Lyell Immunopharma||Principia Biopharma, Translate Bio, Pandion Therapeutics|
|Versant||14||2||$1,032,182,150||$1,233,072,514||Akero Therapeutics, Aprea Therapeutics, Black Diamond Therapeutics, Crinetics, Gritstone Oncology, Oyster Point Pharma, Passage Bio, Repare Therapeutics, Aligos Therapeutics, Pandion Therapeutics, Lava Therapeutics, VectivBio, Monte Rosa Therapeutics, Century Therapeutics||Audentes Therapeutics, Pandion Therapeutics|
|Pfizer Venture Investments||8||0||$613,359,939||$1,228,114,023||Allogene Therapeutics, Cortexyme, Imara, Morphic Therapeutic, NextCure, SpringWorks Therapeutics, 4D Molecular Therapeutics, Kymera Therapeutics|
|Third Rock||9||2||$1,028,995,856||$1,190,095,187||Constellation Pharmaceuticals, Fulcrum Therapeutics, Magenta Therapeutics, Neon Therapeutics, Pliant Therapeutics, Revolution Medicines, Decibel Therapeutics, Relay Therapeutics, Nurix Therapeutics||Constellation Pharmaceuticals, MyoKardia|
Deal-level cash-on-cash returns, proceeds from exits, check sizes, and more for 1,500+ biopharma investors covering $80B+ in global venture investment.
Prior to 2018 or so, there wasn't really a biotech seed market. But in the last few years, the biotech seed market has exploded. Dozens of new investors have emerged who are focused on funding scientifically ambitious biotech companies, often started by younger scientific founders (as opposed to the experienced professional entrepreneurs that often run VC-backed biotech startups).
Data on seed funding is less comprehensive than later-stage funding, as these companies don't publicize their raises as often. To identify the top biotech seed investors, I asked biotech founders in my network who have raised $1M+ in seed capital in the last 2 years.
This methodology ensures that the investors on the list are 1) actively investing and 2) founder friendly. However, this list is not comprehensive and certainly omits some great investors. If you are a founder and think I should add an investor to the list, let me know.
|Fund name||Blog||Notable investments||Location||Investor type||Team|
|5AM Ventures||https://5amventures.com/news/||Achaogen, Arvinas, Ceterix Orthopedics, Vor Biopharma, Viveve||Boston, San Francisco Bay Area||Seed, Venture||Kush Parmar, Andrew Schwab, David Allison, Jamil Beg, Mira Chaurushiya, Brian Daniels, Rebecca Lucia, Deborah Palestrant, John Diekman, Michelle Ho, Pengpeng Li, Kevin Nguyen, Scott Rocklage, Jason Ruth||Follow @schwab5am Follow @ debpalestrant Follow @ jasonrruth|
|8VC||https://8vc.com/resources/blog/||Color Genomics, Bolt Threads, Mantra Bio||San Francisco Bay Area||Seed, Venture||Francisco Gimenez, David Moskowitz, Alex Kolicich||Follow @fjeg1987 Follow @ alexkolicich|
|Alix Ventures||https://www.alix.vc/content-1||Sling Health, Circularis, Xilis, Elegan||San Francisco Bay Area||Seed||Chas Pulido, Ron Shigeta||Follow @rshigeta|
|Andreessen Horowitz||https://a16z.com/posts/||Octant Bio, Scribe Therapeutics, Asimov, Freenome||San Francisco Bay Area||Seed, Venture, Growth||Judy Savitskaya, Jorge Conde, Vijay Pande, Andy Tran, Frank Chen, Julie Yoo, Justin Larkin, JT Evans||Follow @heyjudka Follow @ JorgeCondeBio Follow @ vijaypande Follow @ andy23tran Follow @ withfries2 Follow @ julesyoo Follow @ justin_larkinMD|
|Apollo Health Ventures||https://medium.com/apollo-ventures-insights||Hamburg||Accelerator, Seed||Jens Eckstein, Nils Regge, Alexandra Bause, Anela Vukoja||Follow @apollohealthvc|
|Apollo||San Francisco Bay Area||Accelerator||Max Altman, Sam Altman, Jack Altman||Follow @samaFollow @ maxaltmanFollow @ jaltma|
|ARTIS||https://www.av.co/insights||Stemcentrx, Freenome, Eko, IdbyDNA, Fabric Genomics, Aether Biomachines||Seed||Stuart Peterson, Vasudev Bailey, Austin Walne||Follow @vasudevbailey Follow @ walne|
|Asset Management Ventures||https://assetman.com/perspectives-health-care/||Evidation, Freenome, HealthTap, Audentes Therapeutics, 3T Biosciences||San Francisco Bay Area||Seed, Venture||Skip Fleshman, Lou Lange, Rich Simoni, Melina Mathur, Luke Lee||Follow @AMV|
|Augustin Ku||Cloud9, Hexagon bio, StemCentRx, SyntheX||Las Vegas, Nevada||Angel||Augustin Ku|
|Axial||https://axial.substack.com/||Culture Biosciences, Inflammatix, Genedit, Unnatural Products||San Francisco Bay Area||Angel||Joshua Elkington||Follow @elkingtonxy|
|BioRock Ventures||https://angel.co/mary-wheeler/syndicate?utm_campaign=syndicate_direct_link||Vaxcyte, Seal Rock Therapeutics, Octagon Therapeutics, AN2 Therapeutics, Primmune Therapeutics||San Francisco Bay Area||Seed||Mary Wheeler|
|Bioverge||https://medium.com/@Bioverge||Notable Labs, Enclear Therapies, Echo, Blue Mesa, Occamz Razor||San Francisco Bay Area||Angel||Neil Littman||Follow @biovergehq|
|Boom Capital||Mammoth Biosciences, A-Alpha Bio, FaunaBio, System1 Biosciences||San Francisco Bay Area||Seed||Celestine Schnugg|
|Cambrian Biopharma||New York City||Seed||James Peyer, Christian Angermeyer, Juliete Han, Tauhid Ali, Dennis Yamashita, Georg Terstappen||Follow @ C_AngermayerFollow @ JamesPeyer|
|Canaan||https://www.canaan.com/latest||Arrakis Therapeutics, Synthekine, Onkos Surgical, Pathios Therapeutics, Pact Pharma||San Francisco Bay Area, New York City||Seed, Venture||Brent Ahrens, Colleen Cuffaro, Julie Grant, Nina Kjellson, Stephen Bloch, Tim Shannon, Wende Hutton||Follow @ColleenCuffaro Follow @ JuliePapanek Follow @ nkjellson Follow @ TimShannonMD Follow @ WendeHutton|
|Civilization Ventures||BillionToOne, Omada Health, Lemonaid, Foresight Diagnostics, Singular Bio, Convergent Genomics, Rocket Pharma, Prellis Biologics||San Francisco Bay Area||Seed, Venture||Shahram Seyedin-Noor||Follow @CivilizationVC||Follow @themasap|
|Codon Capital||Arcus Biosciences, Bolt Threads, Flexus Biosciences, Oric Pharmaceuticals, Shattuck Labs, Zymergen||San Francisco Bay Area||Seed, Venture||Karl Handelsman, Mitchell Mutz|
|DCVC||https://www.dcvc.com/news.html||Agenovir, C16 Biosciences, Cofactor Genomics, Orca Bio||Seed, Venture||Zachary Bogue, John Hamer, Kiersten Stead, James Hardiman, Armen vidian, Ali Tamaseb, Anna Fokina, John Cumbers, Christopher Meldrum, Andy May||Follow @zackbogue Follow @ hardimanjames Follow @ armenvidian Follow @ alitamaseb Follow @ annafokina Follow @ johncumbers|
|Digitalis Ventures||https://digitalisventures.com/notes/||Good Therapeutics, Terray Therapeutics, The Mighty, MollyBox, Onc.AI, Rejuvenate Bio||New York City, Los Angeles, San Francisco Bay Area, Boston||Seed||Geoff Smith, Sam Bjork||Follow @digitalisvc Follow @ DigitalisSmith|
|E-Fund / Point Reyes Management||1910 Genetics, Industrial Microbes, Spiral Genetics, Nano Cheq||San Francisco Bay Area||Seed||Sophia Collier, Chula Reynolds, Matt Esh||Follow @artistcollier Follow @ chulareynolds|
|Endpoint Ventures (angel syndicate of founders of GeneWEAVE and Endpoint Health)||Billion to One, Shasqi, Indee Labs, Meru Health, Reverie Labs, The One Healthcare Company, Viosera Therapeutics, Synkrino||San Francisco Bay Area||Angel||Diego Rey, Jason Springs, Leo Teixeira||Follow @diegoarey|
|Fifty Years VC||https://fiftyyears.substack.com||HelixNano, Opentrons, Tierra Biosciences, Athelas, Memphis Meats||San Francisco Bay Area||Seed||Ela Madej, Seth Bannon, Shuo Yang||Follow @elamadej Follow @ sethbannon|
|Foobar VC||Circularis, VitroLabs, Radix Labs, Nextmind, HelixNano||Seed||David Helgason||Follow @davidhelgason|
|FoundersX Ventures||1910 Genetics, Menten.ai, Kernal Bio, Trexo Robotics||San Francisco Bay Area||Seed to Growth||Helen Liang, Benjamin Xu, Tom Kosnik, Cyrus Hodes, John Sun, Wendy Hayes||Follow @helensandhill Follow @ tjkosnik|
|Genoa Ventures||https://www.genoavc.com/news||Adarza Biosystems, Intabio, Intervenn, Ionpath, Synthomics, Tropic Biosciences||San Francisco Bay Area||Seed||Jenny Rooke, Richard Kenny, Bill Hyun, Paul Conley, Paco Cifuentes||Follow @drjennyrooke|
|Georges Harik||23andMe, uBiome, Metabiota, Adimab, Tegmine Therapeutics||San Francisco Bay Area||Seed||Georges Harik||Follow @gharik|
|Gwen Cheni||Tinctorium, Lupa Bio, Synthex||San Francisco Bay Area||Angel||Gwen Cheni||Follow @GwenInvestor|
|Hof Capital||https://medium.com/hof-capital||Insitro, Metagenomi, XGenomes, Ovid Research, BillionToOne||New York City, San Francisco Bay Area, London||Seed, Venture||Victor Wang, Hisham Elhaddad, Neil Devani||Follow @hofcapital Follow @ VictorWangJC Follow @ helhaddad7 Follow @ neildevani|
|Humboldt Fund||Memphis Meats, Meatable, NotCo, Mission Barns, Ansa Biotechnologies, Geltor, Miroculus, Finch Therapeutics, BrightSeed||San Francisco Bay Area||Seed||Benjamin Quiroga, Sebastian Bernales|
|Hummingbird Ventures||BillionToOne, Basecamp Research, Kernal||London, Antwerp||Seed, Series A, Series B||Firat Ileri, Tess van Stekelenburg, Pablo Lubroth||Follow @ileriFollow @pablolubrothFollow @TessvanStekele1|
|Incube Ventures||Corhythm, Neurolink, Rani Therapeutics, Spinal Modulation||San Jose||Seed||Mar Perez, Andrew Farquharson, Mir Imran, Talat Imran, Mark Sieczkarek, Wayne Roe|
|IndieBio||https://indiebio.co/blog/||New Age Meats, SugarLogix, Prellis Biologics, Jungla||San Francisco Bay Area, New York City||Accelerator||Jun Axup, Po Bronson, Stephen Chambers, Rodrigo Mallo Leiva, Alex Kopelyan, Pae U||Follow @indbio|
|James Hong||Athelas, Hexagon Bio, Tegmine Therapeutics, Emerald Cloud Lab, Emerald Therapeutics||San Francisco Bay Area||Angel||James Hong||Follow @jhong|
|Jude Gomila||http://www.judegomila.com/||Circle Pharma, Cofactor Genomics, Coral Genomics, Viosera Therapeutics, Gingko Bioworks||San Francisco Bay Area||Angel||Jude Gomila||Follow @judegomila|
|KdT Ventures||https://medium.com/@kdtventures||Tierra Biosciences, PathAI, 54Gene, Elegan||Austin||Seed, Venture||Cain McClary, Mack Healy, Rima Chakrabarti, Phil Grayeski||Follow @cmanmd|
|Khosla Ventures||https://www.khoslaventures.com/blog/all||Arpeggio Bio, BIOAGE, Cellino, E25Bio, Editas Medicine, eGenesis, Eligo Biosciences, Encellin, Fountain Therapeutics, GEn1E||San Francisco Bay Area||Seed, Venture||Vinod Khosla, Alex Morgan, Justin Kao, Kristina Simmons|
|Liquid2 Ventures||C16 Biosciences, Solugen, Athelas||San Francisco Bay Area||Seed||Michael Ma, Nate Montana, Joe Montana, Mike Miller||Follow @michaelandma Follow @ scootermontanaFollow @ JoeMontana Follow @ mlmilleratmit|
|Longevity Fund||https://ldeming.posthaven.com/||Alix Oncology, Celevity, Decibel Therapeutics, Fauna Bio, Precision Biosciences||San Francisco Bay Area||Seed, Accelerator||Laura Deming||Follow @LauraDeming|
|Luminous Ventures||Oxford VR, Optellum, Vital, Active Global, Astroscreen, Biobeats, Beyond…, Climax Foods, Ellipsis Health, Facesoft, Flox||London||Seed||Isabel Fox, Lomax Ward, Simon Hsu, Peter Crane, Alasdair Thong, Miao He, Josh Liu, John Spindler, James Joll, Csaba Konkoly||Follow @luminousvc|
|Lux Capital||https://luxcapital.com/news/||Halo Neuroscience, Recursion Pharma, Genocea, Auris Surgical Robotics, Kallyope||New York City, San Francisco Bay Area||Seed||Zavain Dar, Adam Goulburn, Ian Peikon, Robert Paull||Follow @zavaindar Follow @ aGoulburn Follow @ ipeikon|
|Mars Bio||https://www.marsbio.vc/media||Minicircle, Better Earth, Encellin, Armada||Seed, Venture||Robert Rhinehart, Arye Lipman, Llewellyn Cox,||Follow @marsbio_vcFollow @ robrhinehart Follow @ aryelipman Follow @ LlewellynCox|
|Mayfield||https://www.mayfield.com/news/||Mission Bio, Mammoth Biosciences, Qventus, Endpoint Health||San Francisco Bay Area||Seed, Venture||Tim Chang, Arvind Gupta, Ursheet Parikh, Navin Chaddha||Follow @timechangeFollow @ arvndgptaFollow @ ursheetFollow @ navinchaddha|
|Mission BioCapital||Zymergen, Cell Design Labs, Alector, Bolt Threads, Nocion Therapeutics, Wild Type, Pandion Therapeutics, Glycomine||San Francisco Bay Area||Seed, Venture||Doug Crawford, Peter Parker, Steve Tregay, Johannes Fruehauf, Eric Linsley, Robert Blazej, Anthony Walsh||Follow @MissionBioCapFollow @ JFruehaufFollow @ RobertBlazej|
|New Ventures Funds (Scientia Ventures)||https://www.scientiavc.com/news||ADC Therapeutics, Royalty Pharma, Fibrogen, Cibus||New York City||Seed, Venture||Jonathan Finn, Mark Finn, Henry Glorikian, Rory Riggs, Richard Warburg, John Dessouki||Follow @hglorikian|
|NFX||https://www.nfx.com/||Mammoth Biosciences, C2i Genomics, Twist Biosciences. Armada, Genome Compiler||San Francisco Bay Area, Israel||Seed||James Currier, Pete Flint, Gigi Levy-Weiss, Morgan Beller, Shayma Sharif, Brittany Yoon||Follow @jamescurrier Follow @ peteflint Follow @ gigilevy Follow @ beller Follow @ brittanyyoon|
|Nordic Makers||https://www.nordicmakers.vc/best-practice/#sub-page-1||Nextmind, Helix Nano, Biolib||Nordic Countries||Seed||Moaffak Ahmed, Michael Seifert, Esben Gadsboll, Klaus Nyengaard, Martin Von Haller Gronbaek, Lars Floe Nielsen, Alexander Aghassipour, David Helgason, Benjamin Ratz||Follow @davidhelgason Follow @ aghassipour Follow @ ln_sitecore Follow @ vonhaller Follow @ KlausNyengaard Follow @ benjaminratz|
|OMX Ventures||Finch Therapeutics||Seed, Venture||Daniel Fero, Nick Haft, Craig Asher||Follow @acasher|
|Pacific 8||http://www.pac8.com/news||Mammoth Bioscience, BillionToOne, Dorian Therapeutics, Fauna Bio, Karius, Cura Therapeutics||Taipei, San Francisco Bay Area||Seed||Chris Shu, Jack Liang, Ser-Chen Fu|
|Paul Buchheit||http://paulbuchheit.blogspot.com/||Cofactor Genomics, Bikanta, Cue Health, Comprehend, Luminist||San Francisco Bay Area||Angel||Paul Buchheit||Follow @paultoo|
|Paul Graham||http://www.paulgraham.com/||Angel||Paul Graham||Follow @paulg|
|Petri Bio||Boston||Accelerator, Seed||Tony Kulesa, Jaye Goldstein, Brian Baynes, Jamie Goldstein, Christian Caraco, Josh Moser||Follow @petribio|
|Point Nine||https://medium.com/point-nine-news||Berlin||Seed||Louis Coppey, Ricardo Sequerra, Christoph Janz, Pawel Chudzinski||Follow @chrija Follow @ pawell Follow @ ric0seq Follow @ louicop|
|Presight Capital||Terran Biosciences, Peptilogics, Enclear Therapies||New York City||Seed||Christian Angermayer, Fabian Hansen||Follow @C_Angermayer Follow @ FabianLHansen|
|Refactor Capital||https://medium.com/refactor||Synthetic Biology, Computational Biology / Chemistry, Therapeutics, Longevity, Genomics, AI / ML, Other||San Francisco Bay Area||Seed||Zal Bilimoria, David Lee||Follow @zalzally Follow @ davidlee|
|Sam Altman||https://blog.samaltman.com/||Angel||Sam Altman||Follow @sama|
|Sea Lane||Cradle Genomics, Spring Discovery, Q Bio||Seed, Venture||Ling Wong||Follow @lingwong|
|Tech.Bio||San Francisco Bay Area||Seed||Omri Drory|
|True Ventures||https://trueventures.com/blog||Membio, Fauna Bio, Intervenn Biosciences, Prellis Biologics, Symbiome||San Francisco Bay Area||Seed||Rohit Sharma, Adam D'Augelli||Follow @rohit_x_ Follow @ adaugelli|
|Tsingyuan Ventures||https://medium.com/tsingyuan-ventures||Spotlight Therapeutics, Namocell, Erisyon, Cardea Bio||Seed||Michael Jin, Steve Sun, Biao He|
|Wireframe Ventures||Mammoth Biosciences, Reverie Labs, Geneticure||San Francisco Bay Area||Seed||Harsh Patel, Paul Straub||Follow @harsh1 Follow @ pstraub|
|Y Combinator||https://blog.ycombinator.com/||Viosera Therapeutics, Gingko Bioworks, Alpine Roads, Solugen, Athelas||San Francisco||Accelerator||Jared Friedman, Paul Bucheit, Michael Seibel, Uri Lopatin||Follow @ycombinatorFollow @ snowmakerFollow @ paultooFollow @ mwseibelFollow @ urilopatin|
|Yleana Venture Partners/Emles Advisors||Seed|
To stay updated on biopharma startup funding and exit trends through 2020, check out our free startup dashboard for summary info updated on a regular basis.
Then consider joining our mailing list. I periodically publish data-driven articles on the biotech startup and VC world.