Top 8 Venture Capital Firms for Pharmaceutical Startups

For founders in the pharmaceutical, biotech, and life sciences sectors, preparing to raise capital means more than just perfecting your pitch. It’s about finding investors who truly understand your specific field. Connecting with the right venture capital firm can make all the difference in your company’s trajectory.

To help you identify potential partners, our team at Rho has curated this overview of top VC firms actively investing in pharma and healthcare technology. Use this guide to quickly understand the key players before or during your fundraising process.

Just raised, or about to? Set up your financial stack with Rho in minutes. Rho provides business banking, corporate cards, and bill pay—built for startup teams moving fast.

Which VC Firms in Pharmaceutical Are Right for Your Stage?

Whether you're an early-stage company or preparing for an exit, knowing the right investors to approach is key. Here’s our quick overview of venture capital firms in the pharmaceutical space, broken down by the stages they invest in.

Pre-seed and Seed VC Firms in Pharmaceutical

This initial funding stage is for companies that are just starting out, often with little more than an idea or a prototype. For founders in the pharmaceutical space, firms like Apple Tree Partners and Schooner Capital are known to invest at this foundational level.

Early Stage VC Firms in Pharmaceutical

Early-stage funding, typically Series A and B, helps startups with a proven concept to build out their team and scale operations. Some early-stage healthcare venture capital firms to consider include Bristol-Myers Squibb and Vertex Ventures HC.

Late Stage VC Firms in Pharmaceutical

Late-stage capital is for established companies looking to expand significantly, prepare for an IPO, or position themselves for acquisition. In the medtech and life sciences sectors, investors like Pfizer and Aperture Venture Partners focus on these more mature opportunities.

It's also worth noting that some VC firms, such as Boston Millennia Partners, invest across all funding stages.

Here is our closer look at the top VC firms focused on the pharmaceutical sector. For each one, you'll find key details on their investment stages, geographic focus, and what makes them a unique partner for founders.

1. Pfizer

As the corporate venture capital arm of the global biopharmaceutical company, Pfizer Ventures invests in emerging companies developing breakthrough medicines and technologies. They aim to support businesses that align with their mission to provide safe and effective healthcare solutions.

Their portfolio highlights a focus on science-driven companies, particularly in oncology and rare diseases, with investments in firms like Arrakis Therapeutics and Artios Pharma. They back companies from venture stages through to private equity, often supporting those with strong potential for an IPO or acquisition.

Pfizer is an ideal strategic partner for founders whose work aligns with the firm's core therapeutic areas. If your company is built on a strong scientific foundation and you are seeking deep industry expertise alongside capital, they could be a valuable match.

• Investment stages: Private Equity, Venture
• Industries of focus: Biotechnology, Health Care, Medical, Pharmaceutical, Precision Medicine
• Geographical presence: New York, New York
• Founded year: 1849
• Notable portfolio companies: Arrakis Therapeutics, Artios Pharma, Rhythm Pharmaceuticals
• Portfolio size: 52 investments and 19 exits

You can refer to their website here.

2. Bristol-Myers Squibb

Bristol-Myers Squibb is a global pharmaceutical company that invests in and acquires businesses to advance its own drug development pipeline. Their venture arm focuses on discovering and commercializing new medicines through strategic partnerships.

The firm’s investments show a strong focus on precision medicine, particularly in oncology and neuroscience, highlighted by its acquisitions of Karuna Therapeutics and Mirati Therapeutics. They often act as a strategic partner, providing capital and co-development opportunities to build out their core therapeutic areas.

BMS is an excellent match for founders whose work directly complements the company's existing pipeline, especially those in later stages of development. If you are seeking a partner with deep industry resources and a potential path to acquisition, they are a strong contender.

• Investment stages: Early Stage Venture, Venture
• Industries of focus: Biotechnology, Health Care, Medical, Pharmaceutical, Precision Medicine
• Geographical presence: New York, New York
• Founded year: 1887
• Notable portfolio companies: BioNTech, Karuna Therapeutics, Cellares
• Portfolio size: 101 investments and 17 exits

You can refer to their website here.

3. Apple Tree Partners

Apple Tree Partners is a venture capital firm that builds and invests in companies across the life sciences, including pharmaceuticals, biotechnology, and medical technology. They partner with businesses from their earliest stages and support them through their entire growth cycle.

The firm is notable for its long-term approach, investing across all stages from seed to post-IPO. Their portfolio shows a clear pattern of building companies toward major outcomes, including the acquisition of Corvidia Therapeutics and the IPO of Akero Therapeutics.

This firm is a strong fit for founders in the life sciences who seek a hands-on partner for the entire company lifecycle. If you want strategic support from inception through to a significant exit, Apple Tree Partners has the experience to guide that journey.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Post-IPO
• Industries of focus: Biotechnology, Medical Device, Pharmaceutical
• Geographical presence: New York, New York
• Founded year: 1999
• Notable portfolio companies: Akero Therapeutics, Stoke Therapeutics, Corvidia Therapeutics
• Portfolio size: 61 investments and 16 exits

You can refer to their website here.

4. Schooner Capital

Schooner Capital is a private investment firm with a long history of backing companies across a wide range of industries. They partner with businesses from their earliest stages and support them through to maturity.

What is notable about Schooner is their flexible investment approach, covering everything from seed rounds to private equity. Their portfolio reflects this breadth, with investments in companies like cancer-drug developer Cullinan Oncology and clean-energy leader Commonwealth Fusion Systems.

Schooner Capital could be a great fit if you're looking for a long-term financial partner that isn't restricted to a single industry or funding stage. Their history suggests they are comfortable supporting companies with unique technologies through various growth phases.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Private Equity
• Industries of focus: Financial Services, Media and Entertainment, Medical Device, Pharmaceutical
• Geographical presence: Boston, Massachusetts
• Founded year: 1971
• Notable portfolio companies: Cullinan Oncology, Commonwealth Fusion Systems, Seventh Generation
• Portfolio size: 70 investments and 14 exits

You can refer to their website here.

5. Vertex Ventures HC

Vertex Ventures HC invests across the healthcare industry, with a focus on biopharmaceuticals, medical devices, and digital health. They support companies at both early and late venture stages, providing capital to fuel growth and innovation.

The firm is known for backing companies with ambitious, science-driven platforms, such as Boundless Bio's novel cancer therapies and Neuspera Medical's miniaturized neuromodulation devices. Their portfolio demonstrates a focus on businesses developing technologies with the potential to lead their respective fields.

This firm is a strong match for founders developing transformative medical technologies or new therapeutic approaches. If your company is built on a strong scientific foundation and is seeking venture funding, Vertex Ventures HC is worth considering.

• Investment stages: Early Stage Venture, Late Stage Venture
• Industries of focus: Biopharmaceuticals, Medical Devices, Digital Health
• Geographical presence: Palo Alto, California
• Founded year: 2014
• Notable portfolio companies: Boundless Bio, Palleon Pharmaceuticals, Sonoma Biotherapeutics
• Portfolio size: 40 investments and 9 exits

You can refer to their website here.

6. Boston Millennia Partners

Boston Millennia Partners is a private equity and venture capital firm that finances high-growth companies, with a strong focus on the healthcare and business services sectors.

The firm is distinguished by its broad investment strategy, backing companies from seed stage all the way through to private equity. Their portfolio includes major exits in both healthcare and technology, such as the acquisition of PAREXEL and the sale of Hotjobs.com to Yahoo!.

If you are a founder seeking a long-term financial partner that can support your company across multiple growth stages, this firm is a strong choice. Their experience in both healthcare and technology makes them a versatile partner for companies in either field.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Private Equity, Venture
• Industries of focus: Health Care, Pharmaceutical, Financial Services, Information Technology, SaaS
• Geographical presence: Boston, Massachusetts
• Founded year: 1984
• Notable portfolio companies: PAREXEL International, GlycoFi, Ilex Oncology, Hotjobs.com
• Portfolio size: 140 investments and 61 exits

You can refer to their website here.

7. Aperture Venture Partners

Aperture Venture Partners is a New York-based firm that invests in the medical device, pharmaceutical, and diagnostic sectors. They support companies across both early and late venture stages, providing capital to fuel growth and development.

The firm has a strong record of guiding companies to major exits, such as the $11.6 billion acquisition of migraine-drug developer Biohaven Pharmaceutical by Pfizer. Their portfolio also includes Inspire Medical Systems, a maker of sleep-apnea devices that completed a successful IPO.

Aperture could be a good match if you are a founder in the biopharma or medical device space with a clear path toward an acquisition or public offering. They are an experienced partner for companies building high-value technologies.

• Investment stages: Early Stage Venture, Late Stage Venture, Venture
• Industries of focus: Medical Device, Pharmaceutical, Healthcare, Diagnostics
• Geographical presence: New York, New York
• Founded year: 2002
• Notable portfolio companies: Biohaven Pharmaceutical, Inspire Medical Systems, Aclaris Therapeutics, Trevi Therapeutics
• Portfolio size: 62 investments and 25 exits

You can refer to their website here.

8. NGN Capital

NGN Capital is a venture capital firm that invests in healthcare companies across the United States and Europe. They specialize in the biotechnology and pharmaceutical sectors, supporting businesses through both early and late venture stages.

The firm has a history of backing companies that achieve major exits, such as the acquisition of Horizon Therapeutics by Amgen for nearly $28 billion. This focus on high-value outcomes in the biopharma space signals their ability to guide companies toward significant market success.

NGN Capital is a strong potential partner for founders in the US or Europe whose work is in biotechnology or pharmaceuticals. If you are building a company with a clear path to a large acquisition or public offering, their track record makes them a compelling choice.

• Investment stages: Early Stage Venture, Late Stage Venture
• Industries of focus: Biotechnology, Pharmaceutical, Healthcare
• Geographical presence: New York, New York
• Founded year: 2003
• Notable portfolio companies: Horizon Therapeutics, Exosome Diagnostics, Cardiovalve
• Portfolio size: 38 investments and 13 exits

You can refer to their website here.

What This Tells Us About The VC Scene for Pharmaceutical Companies

Our overview of these firms shows that the pharmaceutical sector has a well-balanced funding environment. You’ll find investors like Apple Tree Partners and Boston Millennia Partners that support companies from the seed stage all the way to private equity. This means capital is available whether you are just starting out or preparing for a major exit.

Geographically, the major hubs are clearly on the East Coast, with a strong presence in New York and Boston. While some firms operate elsewhere, your fundraising search will likely benefit from focusing on these two cities. This concentration can help you build investor relationships more efficiently.

Raise Confidently with Rho

Fundraising requires significant time and focus, which is why a targeted list of investors is so important. We hope this overview helps you connect with the right partners for your company.

Once your round is closed, the next step is putting that capital to work. Rho can help you set up your financial stack in minutes.

Our platform provides the tools your startup needs to manage funds efficiently. This includes business banking, corporate cards, and automated bill pay, all in one place.

FAQs about Venture Capital Firms Focused on Pharmaceutical

Which US cities are major hubs for pharmaceutical VC firms?

Boston and New York are the primary hubs for pharmaceutical and life sciences investment. Their high concentration of research institutions, talent, and capital makes them ideal locations for founders to network and secure funding for their startups.

Are there top biotech venture capital firms in Europe?

Yes, Europe has a strong and growing biotech VC presence, especially in cities like London and Cambridge, and across Switzerland and Germany. Some US-based firms, like NGN Capital, also invest in European companies, showing significant cross-Atlantic interest.

What do early-stage healthcare VC firms look for?

Early-stage investors focus on the strength of your scientific foundation, the potential market size, and your team's expertise. They want to see a clear, defensible technology and a credible plan for navigating the development and regulatory process.

What is the difference between a corporate and a traditional VC?

Corporate VCs, like Pfizer Ventures, are investment arms of large companies and often seek strategic alignment with their parent company. Traditional VCs are independent firms focused primarily on generating strong financial returns for their own investors.

How should you approach a life sciences venture capital firm?

A warm introduction from a mutual contact is most effective. Otherwise, focus on firms whose portfolio and investment thesis align with your company's stage and therapeutic area. A targeted, well-researched approach is always best.

How can Rho help after I close my funding round?

After closing your round, Rho helps you manage your new capital. Our platform combines business banking, corporate cards, and automated payments, giving you a clear financial picture and control over your funds. Set up your account with Rho.