Despite the headwinds young biotechs now face in raising capital, money is still flowing into venture firms. Data from the National Venture Capital Association shows that investment firms across industries raised about $163 billion last year and deployed nearly $31 billion in biotech and pharma specifically.
Cure, with its $350 million, joins at least two other venture funds focused on health and biotech that have closed funds so far in 2023. SR One announced a second fund in March, bringing in $600 million to support life science startups. Dimension, founded by Lux Capital and Obvious Ventures alumni, said in January it had put together a $350 million fund.
