Shots:
- Welcome to the 2025 edition of Know Your Investor, highlighting top venture capital firms driving healthcare innovation
- This edition features Deep Track Capital, a firm dedicated to investing in life sciences companies that are advancing innovations to improve public health
- In 2024, Deep Track Capital invested approximately $4.35B across six funding rounds, adding 32 healthcare and biotech companies to its growing portfolio. For the full report, contact us at connect@pharmashots.com
Deep Track Capital is a Greenwich, Connecticut-based investment firm founded in 2020 by David Kroin. It manages approximately $5.1B in assets and focuses on life sciences, especially biotech, specialty pharma, medical devices, and diagnostic companies. Though the firm mainly invests in public equities, it is known to selectively invest in private companies, using a variety of instruments like equities, bonds, options, PIPEs, and royalties. Their approach is fundamentally driven, aiming to capitalize on the varied outcomes within biotech development.
In 2024, Deep Track Capital participated in six funding rounds across various stages, including Seed, PIPE, and Series A-D. Notable additions to its portfolio include:
- enGene
- Jade Biosciences
- TORL BioTherapeutics
- MBX Biosciences
The firm’s largest single investment was a $555M PIPE funding in Bicycle Therapeutics.
Deep Track Capital focuses on the life sciences sector, with a strong emphasis on biotechnology, specialty pharmaceuticals, medical devices, diagnostics, and life sciences tools and services. The firm targets companies that are developing or commercializing innovative products and technologies within these areas, aiming to capitalize on the diverse outcomes in biotech development. Its investments span both publicly traded and select privately held companies.
Therapeutic Areas of Focus:
- Oncology
- Infectious diseases
- Neurology
- Immunology
- Ophthalmology
- Hepatology
- Dermatology
- Cardiology
Technological Focus:
- Antibodies
- Small molecules
- Cell and gene therapies
- Immunotherapies
- Peptides
- Antibody conjugates
- Ophthalmic Devices
In 2024:
- Invested in 32 companies
- 62.5% of investments were through PIPE Funding
- 15.62% were through Series B
Key Investments in 2024:
- $555M PIPE - Bicycle Therapeutics
- $325M PIPE - Ocular Therapeutix
- $215M Series B - Metsera
Quarterly Investments in 2024:
- Q1: 10 investments worth $1469M
- Q2: 8 investments worth $1312M
- Q3: 2 investments worth $245.5M
- Q4: 12 investments worth $1331.2M
The table below depicts the top 5 out of the 32 investments made by Deep Track Capital Investment:
Note: (For a complete report, reach out to us at connect@pharmashots.com with the subject line “Deep Track Capital” or for early access to complete data for future reports and analysis, register here: https://forms.office.com/r/VwFu6aUm80)
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