Biopharma-specific venture funding
Venture capital raised by biopharma companies, $ billions.
About this data
Biopharma raised $23.3bn in 2023 and $26bn in 2024. The recovery has come with a change in the kind of capital available: a higher share is going to clinically de-risked assets with Phase I/II data, rather than the pre-clinical platform bets that characterised 2020–21.
Biopharma-specific venture funding
Venture capital raised by biopharma companies, $ billions.
Data table
| year | usd_b | series | source_ref | value_basis |
|---|---|---|---|---|
| 2023 | 23.3 | biopharma_vc | biopharmadive-tracker | Biopharma raised $23.3bn in venture capital, 2023 |
| 2024 | 26 | biopharma_vc | biopharmadive-tracker | Biopharma raised $26bn in venture capital, 2024 |
Methodology & sources
Last updated: Aug 14, 2026Methodology
Two series with deliberately different scopes: "global biotech" is the broad sector total, "biopharma" is the narrower drug-developer subset. They are NOT alternative estimates of the same quantity and should not be compared point-to-point. Venture funding totals vary materially between data providers depending on whether crossover rounds, corporate venture and non-dilutive grants are counted. Each series here is kept to a single provider so the trend within a series is consistent. CAVEAT: 2020, 2022 and 2023 global totals are described qualitatively in the cited sources as a "funding winter" but no figure is published, so those years are omitted rather than estimated from the narrative. Re-verified 2026-08-10.
Sources
Comparisons are informative, not definitive. See each source for definitions and limits.