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VC money booms in Q2, with mega-deals hitting record levels

If it wasn’t clear from the firehose of financing deals we’ve covered over the past few months, it’s now official: VC activity is booming in healthcare, with Q2 drawing in $5.1 billion in capital.

That’s 22% of the total $23 billion raised by all VC-backed companies in the US, according to a new quarterly report from Pricewaterhouse Coopers.

Tom Ciccolella,

And as we noted in our China VC special report earlier this week, mega-deals over $100 million are on the rise in a big way. PwC said we’ve officially hit record-breaking numbers, with VC-backed US companies raising 45 mega-rounds in Q2. That’s up from 35 last quarter.

“2018’s mega-rounds are currently on pace to beat what was an unprecedented 2017 — which posted 111 mega-rounds,” said Tom Ciccolella, partner at PwC, in the report.

We happen to know biotech plays a big role here. In the first half of the year, we counted at least 12 mega-rounds totaling more than $100 million. In fact, two of the seven massive deals PwC highlighted as the biggest in its report were biotech ventures: Grail’s $300 million round, and Allogene’s $300 million deal.


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Biotech Investment Analyst
SV Health Investors Boston, MA
Director, Program Management
Contrafect Corporation New York, NY
Director, Translational Sciences
Cadent Therapeutics Cambridge, MA

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