Shots:   

• Welcome to the 2025 series of Know Your Investor, featuring top venture capital firms focused on healthcare. 

• This edition highlights Janus Henderson Group Plc, a global investment firm managing approximately $378.7B in assets across Equities, Fixed Income, Multi-Asset, and Alternatives. 

• In 2024, the firm invested $5.36B across six funding rounds, adding 39 healthcare and biotech companies to its portfolio. For the complete report, reach out to us at connect@pharmashots.com 

Formed through the 2017 merger of Janus Capital Group and Henderson Global Investors, Janus Henderson Group Plc has grown into a global investment powerhouse. It offers a comprehensive range of investment products and solutions for institutional and retail investors, managing assets across four key capabilities: Equities, Fixed Income, Multi-Asset, and Alternatives. 

In 2024, Janus Henderson participated in six funding rounds, including PIPE, Series A–D, Series F, and beyond. Key additions to its portfolio include: 

• ProfoundBio 

• PepGen 

• Entrada Therapeutics 

• Solid Biosciences 

The largest investment was a $400M PIPE round in Avidity Biosciences.  

Janus Henderson’s healthcare investment strategy emphasizes small and mid-cap biotech companies addressing high unmet medical needs with cost-effective and innovative solutions. 

The firm’s three-pronged approach includes: 

• Identifying promising scientific and commercial opportunities. 

• Prioritizing small/mid-cap biotech. 

• Mitigating risk using its proprietary value-at-risk framework. 

It expands its healthcare portfolio primarily through the Global Life Sciences Fund and Horizon Biotechnology Fund. 

Therapeutic Areas of Focus: 

• Oncology 

• Cardiovascular diseases 

• Dermatology 

• Endocrine and metabolic disorders 

• Hematology 

• Infectious diseases 

• Musculoskeletal disorders 

• Neurology 

• Ophthalmology 

• Renal diseases 

Technological Focus: 

• Antibodies 

• Small molecules 

• Cell and gene therapies 

In 2024:  

• Invested in 39 companies  

• 60% of investments were through PIPE  

• 17.5% were through Series A and B  

Key Investments in 2024:  

• $400M PIPE - Avidity Biosciences 

• $350M PIPE - Crinetics Pharmaceuticals 

• $250M PIPE - Olema Oncology 

Quarterly Investments in 2024:  

• Q1: 15 investments worth $2.48B  

• Q2: 8 investments worth $0.84B  

• Q3: 4 investments worth $0.64B  

• Q4: 13 investments worth $1.4B  

The table below depicts the top 5 out of the 40 investments made by Janus Henderson Group Plc: 

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

Related Post: Know Your Investor: Perceptive Advisors (March’25 Edition)