A $50 million seed round and a $300 million Series A deal: These don’t sound like funding rounds taking place in a venture capital drought.
For some startups, especially in the biotech sector, this is turning out to be a surprisingly lucrative time to fundraise. “The challenge right now for the biotech investor scene is that the public markets have seized up for biotech, but at the same time, science is moving at a pace that's unprecedented,” explained Amit D. Munshi, CEO of ReNAgade Therapeutics, which today announced a $300 million Series A round. “Positions are getting more concentrated, rounds are getting bigger, and they're picking the winners,” he added.
