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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