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Insight & Intelligence™ : Dec 18, 2012

Top 20 Venture Capital Firms

Who invests the most funds in the most biotech companies?

In order to start up a company, one must have capital, and for some companies, a venture capital firm may be the best source for it. Venture capital firms, in exchange for equity in the companies in which they’re investing, can help provide funds for companies they think have high potential. So, which VC firms have helped pump up the most biotech and biopharma companies? Below is a list of top venture capital firms and broader financial firms that invest venture capital or other equity in early- to late-stage biotechnology and pharmaceutical companies, ranked by total capital under management or, for some firms, total active “committed” capital from funds in use.

#20. Enterprise Partners

Location(s): La Jolla, CA

Fund size and status: More than $1.1 billion under management across six funds. Current fund: $353 million EPVI, closed 2001

Biopharma portfolio companies: Ascenta Therapeutics, Celladon, Celula, Complete Genomics

Typical investment range: Initial investment more typically ranges between $3 million and $10 million, with additional funds reserved for follow-on financings. Occasionally the partnership will invest as little as $300K in a seed stage venture. Preference for investing in California-based businesses

Year established: 1985

#19. ARCH Venture Partners

Location(s): Chicago; Austin, TX; Seattle; San Francisco; Dublin

Fund size and status: Nearly $1.5 billion under management across seven funds. Current fund: $400 million ARCH Venture Fund VII, closed 2007

Biopharma portfolio companies: Achaogen, Acylin Therapeutics, Agios Pharmaceuticals, Allozyne, Alnylam Holdings, Array BioPharma, BIND Biosciences, bluebird bio, Caliper Life Sciences, Cambrios Technologies, Chiasma, Ensemble Therapeutics, Fate Therapeutics, GenVec, Groove BioPharma, Hua Medicine, Ikaria, Illumina, ISB Accelerator, Kythera Biopharma, Limerick BioPharma, Lycera, NeurogesX, Nura, Omeros, Oncofactor, Permeon Biologics, PhaseRx, Pulmatrix, Receptos, Sorbent therapeutics, Theraclone Sciences, VBI Vaccines, VentiRx, VLST, Xcyte, XenoPort, XORI

Typical investment range: Investment average or range per-company unavailable

Year established: 1986 as not-for-profit ARCH Development Corp. by University of Chicago

#18. Burrill & Co.

Location(s): San Francisco

Fund size and status: $1.5 billion under management across eight funds. Current fund: $505 million Burrill Capital Fund IV, closed for second time August 2012

Biopharma portfolio companies: Acusphere, Adlyfe, Adma Biologics, Catalyst Biosciences, Captaris Therapeutics, Chromatin, Lentigen, Logical Therapeutics, MabVax Therapeutics, Neos Therapeutics, Neurotech, Newbridge Pharmaceuticals, Nora Therapeutics, Odyssey Thera, OncoGeneX, Scynexis, Waterstone Pharmaceuticals, XDx

Typical investment range: $5 million to $15 million over the life of a company

Year established: 1994

#17. Advanced Technology Ventures

Location(s): Palo Alto, CA, and Boston

Fund size and status: $1.6 billion under management across eight funds. Current fund: $305 million ATV Fund VIII, closed 2007

Biopharma portfolio companies: Acceleron Pharma, Calithera Biosciences, Catabasis Pharmaceuticals, Five Prime Therapeutics, Hydra Biosciences, Portola Pharmaceuticals, Second Genome, Thrasos Therapeutics, Verastem

Typical investment range: Investment average or range per-company unavailable

Year established: 1979

#16. Versant Ventures

Location(s): Menlo Park, CA; Newport Beach, CA; San Francisco; Basel, Switzerland

Fund size and status: $1.6 billion in committed capital across three funds; raising funds for fifth fund, reported to be $250 million. Current fund: $500 million Versant Venture Capital IV L.P., closed 2008

Biopharma portfolio companies: 5AM Ventures, Achaogen, Alexza Pharmaceuticals, Biotie Therapies, Five Prime Therapeutics, FLAP, Flexion Therapeutics, Fluidigm, Groove Biopharma (formerly Mirina), Helicos Biosciences, Immune Design, Inception 1, Inception 2, Inception 3, Metabolex, Okairos, OnGen, Panmira Pharmaceuticals, PathWork Diagnostics, PhaseRx, Quanticel Pharmaceuticals, RuiYi, Semprae Laboratories, Spark Diagnostics, Theraclone Sciences, Transcept Pharmaceuticals, Veracyte, Viral Logic Systems Technology (VLST).

Typical investment range: Initial investments have started at $250,000; total investments have been as large as $30 million

Year established: 1999

#15. HealthCare Ventures

Location(s): Cambridge, MA

Fund size and status: $1.6 billion under management across nine funds. Current fund: $250 million HealthCare Ventures IX L.P., closed 2010

Biopharma portfolio companies: Aciex, Anchor Therapeutics, Anexon, Apellis Pharmaceuticals, Apofore, BIKAM Pharmaceuticals, Catalyst Biosciences, Cleveland HeartLab, DecImmune Therapeutics, Dekkun, Galleon Pharmaceuticals, GITR, GlobeImmune, InfaCare Pharmaceutical, Mosaic Biosciences, nanoMR, PathoGenetix, PharmAthene, Promedior, ProteoStasis Therapeutics, Radius Health, Seahorse Bioscience, Shape Pharmaceuticals, Stemgent, Synovex, Tensha Therapeutics, TetraLogic Pharmaceuticals, Theraclone Sciences, Threshold Pharmaceuticals, Trevena, VaxInnate, Vaxxas, Xanodyne Pharmaceuticals, Xencor

Year established: 1985

#14. Frazier Healthcare Ventures

Location(s): Seattle and Menlo Park, CA

Fund size and status: More than $1.8 billion under management across six funds; raising funds for seventh fund, expected to be $400 million. Current fund: $600 million Frazier Healthcare VI, closed 2008

Biopharma portfolio companies: Achaogen, Alcresta, Alexza Pharmaceuticals, Allena Pharmaceuticals, Amicus Therapeutics, Anaptys, Attercor, Cadence Pharmaceuticals, Chimerix, Clovis Oncology, Collegium Pharmac eutical, Incline Therapeutics, Kalidex Pharmaceuticals, Portola Pharmaceuticals, QuatRx, Rempex Pharmaceuticals, Silence Therapeutics, Silvergate Pharmaceuticals (formerly Intradigm), Tobira Therapeutics, VentiRx Pharmaceuticals

Typical investment range: Investment average or range per-company unavailable

Year established: 1991

#13. SV Life Sciences

Location(s): Boston; Foster City, CA; London

Fund size and status: Approximately $2 billion under management across five funds. Current fund: $524 million SV Life Sciences Fund V, closed 2010. Fund includes $11 million $513m (plus $11 million of co-investments committed by partners and individuals affiliated with SVLS).

Biopharma portfolio companies: Achillion Pharmaceuticals, Adimab, Affinium Pharmaceuticals, Alba Therapeutics, Alinea Pharmaceuticals, Allocure, Antiva, Archemix, Arsanis Biosciences, Autifony Therapeutics, Bicycle Therapeutics, Catabasis Pharmaceuticals, Cellzome, Convergence Pharmaceuticals, Cyterix Pharmaceuticals, Delenex Therapeutics, Good Start Genetics, Imagen Biotech, Itero Biopharmaceuticals, Kalvista Pharmaceuticals, Link Medicine, Logical Therapeutics, Lux Biosciences, Mpex Pharmaceuticals, NeurogesX, Neurotech, NKT Therapeutics, Ophthotech, PanOptica, Rempex Pharmaceuticals, Sutro Biopharma, TopiVert, Vantia Pharmaceuticals

Typical investment range: Investment average or range per-company unavailable

Year established: 1993 as Schroder Ventures Life Sciences, part of the Schroder Ventures Group. SVLS became independent of the Schroder Ventures Group in 2001, and changed its name in 2005

#12. Alta Partners

Location(s): San Francisco

Fund size and status: $2 billion under management across eight funds. Current fund: $500 million Alta Partners VIII, closed 2006

Biopharma portfolio companies: 7TM Pharma, Ablynx, AcelRx Pharmaceuticals, Achaogen, Aegerion Pharmaceuticals, Aerie Pharmaceuticals, Aerovance, Alba Therapeutics, Astex Pharmaceuticals, aTyr Pharma, Azelon Pharmaceuticals, Bioventus, Cara Therapeutics, Ceregene, Cerenis Therapeutics, ChemoCentryx, Chimerix, Corcept Therapeutics, Cytokinetics, DiscoveRx, Esperion Therapeutics, Excaliard Pharmaceuticals, Genedata, Immune Design , Innate Pharma, Intarcia Therapeutics, Kiadis Pharma, Lithera, MacroGenics, Metabolex, Nereus Pharmaceuticals, Pathwork Diagnostics, Portola Pharmaceuticals, Proacta Therapeutics, Prolacta Bioscience, SARcode, Scynexis, Silence Therapeutics, Sonexa Therapeutics, Sunesis Pharmaceuticals, Sutro Biopharma, Threshold Pharmaceuticals, Trevena, Veloxis, ViroBay, VitrOmics

Typical investment range: Investment average or range per-company unavailable

Year established: 1996

#11. Morgenthaler Ventures

Location(s): Menlo Park, CA; Boulder, CO; Boston; Cleveland; Princeton, NJ

Fund size and status: $2.5 billion under management; raising funds for 10th fund, IT Fund X, reported to be $200 million. Current fund: $400 million Fund IX, closed 2008 and used in part for investment in life-sciences companies

Biopharma portfolio companies: Calithera Biosciences, Catalyst Biosciences, Elcelyx Therapeutics, Galleon Pharmaceuticals, GlobeImmune, Mosaic Biosciences, OcoMed Pharmaceuticals, Orexigen, Principia, Promedior Pharmaceuticals, Ra Pharmaceuticals, Replidyne, Ribozyme Pharmaceuticals, Stemgent, Threshold Pharmaceutical, Tragara Pharmaceuticals, Trellis Bioscience, Vical

Typical investment range: Between $12 million and $20 million over several rounds; majority of investments in Series A

Year established: 1968

#10. Domain Associates

Location(s): Princeton, NJ, and San Diego

Fund size and status: $2.5 billion under management across eight funds. Current fund: $500 million Domain Partners VIII, closed 2009

Biopharma portfolio companies: Achaogen, Achillion Pharmaceuticals, Adynxx, Afferent Pharmaceuticals, Alimera Sciences, Applied Proteomics, Ariosa Diagnostics, Ascenta Therapeutics, Asmacure, Astute Medical, aTyr Pharma, BioNano Genomics, Cadence Pharmaceuticals, Celator Pharmaceuticals, Clovis Oncology, CoDa Therapeutics, CoLucid Pharmaceuticals, Corridor Pharmaceuticals, Dicerna Pharmaceuticals, DRI Holdings, Durata Therapeutics, Eddingpharm International Holdings, Epic Sciences, Esperion Therapeutics, Evoke Pharma, Five Prime Therapeutics, IntegenX, Marinus Pharmaceuticals, Meritage Pharma, Neuron Systems, Novadigm Therapeutics, Ocera Therapeutics, Oraya Therapeutics, Orexigen Therapeutics, Otonomy, ParinGenix, ProteinSimple, Regardo Biosciences, Sera Prognostics, Sonexa Therapeutics, Syndax Pharmaceuticals, Tobira Therapeutics, Tragara Pharmaceuticals, VentiRx Pharmaceuticals, Veracyte, Zogenix

Typical investment range: Investment average or range per-company unavailable

Year established: 1985

#9. Atlas Venture

Location(s): Cambridge, MA

Fund size and status: More than $2.5 billion in committed capital across eight funds; raising funds for ninth fund, Atlas Venture IX. Expected to be similar to $283 million current fund, Atlas Venture VIII, closed 2009

Biopharma portfolio companies: Achilion Pharmaceuticals, Annovation Biopharma, ARCA Biopharma, Arteaus Therapeutics, Bicycle Therapeutics, Egalet, F-star, Horizon Pharma, Infacare Pharmaceutical, JenaValve, MiRagen Therapeutics, Nimbus Discovery, ProtAffin Biotechnologies, RaNA Therapeutics, SciClone Pharmaceuticals, Vitae Pharmaceuticals, Zafgen

Typical investment range: $500,000 to $5 million

Year established: 1986

#8. MPM Capital

Location(s): Boston; South San Francisco, CA; Munich; Gainesville, FL; Kansas City, KS

Fund size and status: About $2.6 billion committed capital under management across five funds. Current fund: Approximately $300 million MPM BioVentures V L.P., closed 2010

Biopharma portfolio companies: Aires Pharmaceuticals, Allozyne, Anthera Pharmaceuticals, Aveo Pharmaceuticals, Celladon, Ceregene, Chiasma, Colucid Pharmaceuticals, Conatus Pharmaceuticals, EKR Holdings, Epigenomics, Epizyme, Idenix Pharmaceuticals, iPierian, Kalidex, KaloBios Pharmaceuticals, Macrogenics, NeuroTherapeutics Pharma, Oxagen, Pacira Pharmaceuticals, Pharmathene, Poniard Pharmaceuticals, Portola Pharmaceuticals, Proteon Therapeutics, QuatRx Pharmaceuticals, Radius Health, Rhythm Pharmaceuticals, Solasia Pharma, Somaxon Pharmaceuticals1

Typical investment range: Investment average or range per-company unavailable

Year established: 1996

#7. InterWest Partners

Location(s): Menlo Park, CA

Fund size and status: $2.8 billion under management across 10 funds. Current fund: $650 million IW X Fund, closed 2008

Biopharma portfolio companies: Applied Genetic Technologies (AGTC), Alvine Pharmaceuticals, Amplimmune, APT Pharmaceuticals, Arcion Therapeutics, Biomimetic, Carbylan Biosurgery, Cebix, Drais Pharmaceuticals, Eiger Pharmaceuticals, Follica, Fluidigm, Glaukos, Lycera, Integrated Diagnostics, Ocera Therapeutics, On Demand Therapeutics, PrimeraDx, QuatRx Pharmaceuticals, RadioRx, Satori Pharmaceuticals, Sera Prognostics, Tesaro, Transcept Pharmaceuticals, Trius Therapeutics, USDS, Xenon Pharmaceuticals

Typical investment range: $10 million to $15 million

Year established: 1979

#6. Polaris Venture Partners

Location(s): Waltham, MA; New York; Palo Alto, CA; and Dublin

Fund size and status: More than $3 billion under management across six funds. Current fund: $375 million Polaris Venture Partners VI, closed 2010

Biopharma portfolio companies: 480 Biomedical, Acceleron Pharma, Adimab, Alimera Sciences, Arsanis Biosciences, Arsenal Medical, aTyr Pharma, BIND Biosciences, Calorics Pharmaceuticals, Cerulean Pharma, deCODE Genetics [to be acquired by Amgen for $415 million], Fate Therapeutics, Genocea Biosciences, Hydra Biosciences, Ironwood, Kala Pharmaceuticals, Promedior, Pulmatrix, Receptos, Xtuit Pharmaceuticals

Typical investment range: Investment average or range per-company unavailable

Year established: 1996

#5. Kleiner Perkins Caufield & Byers

Location(s): Menlo Park, CA; San Francisco; Beijing; Shanghai

Fund size and status: More than $3 billion in assets under management across 15 funds. Current fund: $525 million KPCB 15, closed May 2012

Biopharma portfolio companies: 3-V Biosciences, Alphavax, Apnicure, Arresto Biosciences, Athena Neurosciences, Auxogyn, BioCryst Pharmaceuticals, Biosite, CardioDx, Cardium Therapeutics, Celladon, Corixa, Corthera, Crescendo Bioscience, Elcelyx, Epizyme, FivePrime Therapeutics, Focal, Foundation Medicine, Gen-Probe, Genomic Health, iPierian, ITC, Microcide Pharmaceuticals, Navigenics, Neurocrine Biosciences, Nexus Dx, Nodality, NovaDigm Therapeutics, Novavax, Onyx Pharmaceuticals, Orexigen, Pacific Biosciences, Pharmacopeia, Pharmacyclics, Tesaro, Tethys, Trius Therapeutics, Veracyte

Typical investment range: Seed investments typically range from $100,000 to $1 million; early-stage, from $1 million to $10 million; growth-stage, from $10 million to $75 million

Year established: 1972

#4. Highland Capital Partners

Location(s): Cambridge, MA; Menlo Park, CA; Geneva; London; and Shanghai

Fund size and status: $3.337 billion under management across nine funds; raising funds for 10th fund, Highland Capital Partners IX L.P. Expected to be similar to $400 million Highland Capital Partners VIII L.P., closed 2009.

Biopharma portfolio companies: Aveo Pharmaceuticals, iPierian, Opgen, Predictive Biosciences

Typical investment range: Investment average or range per-company unavailable

Year established: 1988

#3. Canaan Partners

Location(s): Menlo Park, CA; Westport, CT; New York; Gurgaon, India; Herzliya Pituach, Israel

Fund size and status: $3.4 billion under management across nine funds. Current fund: $600 million Canaan Partners IX, closed January 2012

Biopharma portfolio companies: Adlyfe, ALDEA Pharmaceuticals, Amicus Therapeutics, Apieron, Centocor, Chimerix, Civitas Therapeutics, CombinatoRx, Cylex, CytomX Therapeutics, Data Sciences International, Dermira, DexCom, Durata Therapeutics, GenVec, Kalidex Pharmaceuticals, Liquidia Technologies, Marinus Pharmaceuticals, Matrix Pharma, Novira Therapeutics, Phylogix, Pozen, Sopherion, Theraclone Sciences, Tobira Therapeutics, VaxInnate

Typical investment range: Investment average or range per-company unavailable

Year established: 1987

#2. OrbiMed Advisors

Location(s): New York; San Francisco; Shanghai; Mumbai; Herzliya, Israel

Fund size and status: About $6 billion under management in four public funds, as well as private equity funds in North America/Europe, Asia, and Israel; and a Royalty Opportunities Fund launched 2011 to fund life sciences companies

Biopharma portfolio companies: Acceleron Pharma, Adimab, Affimed, Amarin, Ambit Biosciences, Aragon Pharmaceuticals, arGEN-X, Arsanis Biosciences, Arteaus, Bharat Serums and Vaccines, Biodel, Cardioxyl, cCAM Biotherapeutics, Cerenis Therapeutics, Cleave Biosciences, Eddingpharm, Good Start Genetics, Igenica, Intercept Pharmaceuticals, MacroGenics, MethylGene, Otic Pharma, Pacira Pharmaceuticals, PharmAbcine, Pieris AG, Principia Biopharma, Puma Biotechnology, RDD Pharma, Receptos, Relypsa, Rempex Pharmaceuticals, Response BioMedical, Roka Bioscience, Selecta Biosciences, Shasun, Singulex, Supernus Pharmaceuticals

Typical investment range: Investment average or range per-company unavailable

Year established: 1989

#1. New Enterprise Associates (NEA)

Location(s): Menlo Park, CA; Chevy Chase, MD; Timonium, MD; New York, and affiliate operations in Beijing; Shanghai; Bangalore; Mumbai. On Oct. 17, NEA announced plan to open Chicago office

Fund size and status: More than $13 billion in committed capital across 14 funds. Current fund: $2.6 billion New Enterprise Associates 14 L.P., closed July 2012. Typically, NEA invests 25% to 40% of its funds healthcare companies, including biotechnology

Biopharma portfolio companies: 3-V Biosciences, Aciex, Amicus Therapeutics, Aradigm, Ardelyx, BrainCells, Cadence Pharmaceuticals, Cardioxyl Pharmaceuticals, Clovis Oncology, Dermira, Epizyme, Galera Therapeutics, GlycoMimetics, Hydra Biosciences, Hyperion Therapeutics, Intarcia Therapeutics, Liquidia Technologies, Mersana Therapeutics, Nexchem, Novast, Omthera Pharmaceuticals, Pharmos, PhaseBio, Predictive Biosciences, Prosensa, Proteostasis Therapeutics, Psyadon Pharmaceuticals, Ra Pharma, Rhythm, Roka Bioscience, Satori Pharmaceuticals, Sunesis, Supernus Pharmaceuticals, Targacept, Tesaro, Theravance, Transcept Pharmaceuticals, Trevena, Vitae Pharmaceuticals, Zosano Pharma, Zyngenia

Typical investment range: $5 million to $50 million per company

Year established: 1978