Know Your Investor: RA Capital Management (January’25 Edition)

Shots:

The January Edition features RA Capital Management, a global multi-stage investment firm dedicated to healthcare and life sciences
In 2024, RA Capital added 74 companies to its portfolio, investing approximately $8.5B across seven funding rounds, including private and common funding
Welcome to the 2025 series of Know Your Investor, a meticulously crafted report highlighting leading venture capital firms specializing in healthcare investments.

Founded in 2002 by Richard Aldrich and Peter Kolchinsky, RA Capital Management has evolved into a global leader in healthcare investments. Initially focused on public companies, the Massachusetts-based firm ventured into private investments in 2010, with its first private deal being a $15M Series C funding for T2 Biosystems. Today, RA Capital's investments span the globe, supporting companies across all stages of development, from discovery to commercialization.

In 2024, RA Capital participated in seven funding rounds, including PIPE, SEED, and Series A-E, adding companies like Bicycle Therapeutics, Claris Biotherapeutics, Aktis Oncology, and Alpha-9 Oncology to its portfolio. Bicycle Therapeutics received the largest funding of $555M through PIPE.

RA Capital invests in biopharma, device, diagnostic, and manufacturing/service companies. Its therapeutic focus includes oncology, neurology, cardiovascular diseases, dermatology, endocrine/metabolic, genitourinary, hepatic, infectious, inflammation, musculoskeletal, autoimmune, ophthalmic, pulmonary, and renal. Investment technologies range from antibodies and biologics to RNA and vaccines.

In 2024:

Invested in 74 companies

37.8% of investments were through PIPE

17.5% were through Series B

Key Investments in 2024:

$555M PIPE funding to Bicycle Therapeutics Ltd.

$400M PIPE funding to Avidity Biosciences Inc.

$254M private funding to Freenome Inc.

Quarterly Investments in 2024:

Q1: 24 investments worth $3.29B

Q2: 21 investments worth $2.56B

Q3: 10 investments worth $1.07B

Q4: 19 investments worth $1.65B

The table below depicts the top 5 out of the 74 investments made by RA Capital:

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