Venture capital firm Catalio Capital Management announced today the closing of its more than $400 million Fund IV, as first reported by Bloomberg. The fund will continue the firm’s thesis of backing healthcare and biotechnology companies.
The firm was founded in 2020 and has made more than 100 investments, according to PitchBook. Catalio’s Fund IV, in particular, has backed 16 companies already, including the diagnostics company PinkDx and the drug discovery company Superluminal Medicines. The fund seeks to make at least 30 investments, with the average check size being $15 million, the firm told TechCrunch.
The firm previously raised a $381 million Fund III in 2020 and a $100 million Fund II in 2019, per PitchBook.
The biotech market, in particular, has not been immune to the venture downturn of the past year, followed by higher interest rates and a cooler IPO market. The market overall raised just $12 billion last year, a sharp decline from its peak of $152.3 billion in 2023, as reported by Bloomberg.
This piece was updated to add more information about Fund IV.
