Corporate VCs Step Up Carefully to Fill VC Void
As institutional venture firms gird themselves for difficult times ahead in raising new funds, investment programs at pharmaceutical companies and large medical device companies are at least partially filling the gap by committing corporate dollars into private life sciences companies, even in earlier stages.
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The slowdown and shake-out predicted to occur in the world of venture capital has come. But has it also already gone, too? The industry has certainly retrenched, but there are also signs of new life in the venture sector. For the past two years, we've tracked a few dozen life sciences firms, with an eye on which ones have nearly tapped out their older funds and which have fresh cash to invest in young start-ups. Here's an updated look at the venture fund landscape, showing the firms with full tanks and the ones who are running on empty, based on SEC filings, firm announcements, and our own database and reporting.
New data show that including one or more corporate venture investors in a syndicate actually translates into a higher median step-up valuation.