Biopharma Funds Are Still Embracing VC

The number of deals is down from last year, but most firms have still been fairly active in the private markets.

Carsten Snejbjerg/Bloomberg

Carsten Snejbjerg/Bloomberg

Biopharma-focused hedge funds have cut back sharply on their private venture capital investments in 2022, but not to the extent of the tech-focused firms.

Yes, they all participated in fewer private fundraisings this year than they have in the past. But after a big burst in the first quarter, a few biopharma firms — many of which have dedicated venture funds — maintained the same level of activity in each of the three final quarters.

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