Know Your Investor: Surveyor Capital (December’24 Edition) 

Shots: 

A longstanding equities business within Citadel, Surveyor Capital invests in the consumer, financials, healthcare, industrials, and Technology, Media & Telecom sectors

In 2023, Surveyor participated in four funding rounds, investing approximately $2.35B and adding 17 companies to its portfolio

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Founded in 2008, Surveyor Capital is a fundamental equities business at Citadel with more than 110 investment professionals. Over the years, Surveyor Capital has operated independently with two primary investment strategies: fundamental long/short and equity capital markets, focusing on consumer, financials, healthcare, industrials, and technology, media & telecom sectors. Surveyor has offices in Chicago, Dallas, Greenwich, Miami, and New York. In addition to providing investment, the company emphasizes collaboration and mentorship.

In 2023, Surveyor Capital participated in four funding rounds, which included PIPE (Private Investment in Public Equity), Series B, and C, followed by Series D funding. Key investments included Vyne Therapeutics Inc. (formerly Menlo Therapeutics, Tigercat Pharma), Rapport Therapeutics Inc. (formerly Precision Neuroscience NewCo), and others. The highest funding round in 2023 was Series D funding, which raised $401M for ElevateBio.

In 2023, Surveyor Capital made 17 investments in companies focusing oncology, dermatology, hepatology, inflammation, and neurology. The company invested significantly in technologies leveraging antibodies, antibody conjugates, biologics, cell therapies, DNA, RNA, topical formulations, radiation/radiotherapies, and small molecules. Approximately 58.8% of the company's total investments were made through PIPE, while 17.6% were through Series C. The company's top three investments in 2023 were:

Series D funding worth $401M to ElevateBio LLC

PIPE funding worth $350M to Arvinas LLC

PIPE funding worth $186M to Viridian Therapeutics Inc.

Investment Breakdown (2023):

1 investment worth $60M in Q1

5 investments worth $655.7M in Q2

6 investments worth $812M in Q3

5 investments worth $824.2M in Q4

The table below depicts the top 5 out of the 17 investments made by Surveyor Capital:

Note: (For a complete report, reach out to us at connect@pharmashots.com with the subject line "Surveyor Capital" or for early access to complete data for future reports and analysis register here: https://forms.office.com/r/VwFu6aUm80)  