Top 8 Venture Capital Firms for Pharmaceutical Startups

For founders in the pharmaceutical, biotech, and life sciences sectors, raising capital requires finding investors who understand your specific field. Knowing which venture capital firms are active in areas like medtech or drug discovery is key to a successful fundraise.

To help you find the right partners, our team at Rho curated this overview of top VC firms. Use this guide as a starting point to quickly identify relevant investors for your company.

Rho provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.

Key Takeaways

• Securing venture funding gives your pharmaceutical startup the capital needed for long research and development cycles, clinical trials, and complex regulatory approvals.
• Active investors in the pharmaceutical sector range from the venture arms of major corporations like Pfizer and Bristol-Myers Squibb to specialized firms such as Apple Tree Partners and Schooner Capital.
• Once you've secured funding, Rho helps you manage and deploy your new capital efficiently with integrated tools, including fast business banking, corporate cards, and automated bill pay.

Which VC Firms in Pharmaceutical Are Right for Your Stage?

Knowing which investors to approach is crucial, whether you're just starting out or preparing for an exit. This overview shows which VC firms in the pharmaceutical space invest at each stage.

Pre-seed and Seed VC Firms in Pharmaceutical

Pre-seed and seed funding are the earliest forms of capital, designed to help you turn an initial idea into a viable business model and build a founding team. For founders in the life sciences and medtech sectors, firms like Schooner Capital and Boston Millennia Partners are known to make seed-stage investments.

Early Stage VC Firms in Pharmaceutical

Early-stage funding, typically Series A and B, provides capital for companies with a proven concept to scale operations, expand their team, and advance clinical development. Some active early-stage healthcare VC firms include the venture arm of Bristol-Myers Squibb, as well as biotechnology venture capital firms like Vertex Ventures HC and Aperture Venture Partners.

Late Stage VC Firms in Pharmaceutical

Late-stage funding is for established companies looking to scale rapidly, expand into new markets, or prepare for an initial public offering (IPO) or acquisition. Pharmaceutical venture capital firms that participate in later rounds include Pfizer Ventures, the investment arm of Pfizer, and NGN Capital.

Some global venture capital firms, such as Apple Tree Partners, invest across all startup funding stages, from seed to post-IPO.

Once you've secured funding, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

Below is our overview of top VC firms in the pharmaceutical space. We've included key details about their investment stages, location preferences, and what makes each firm distinct to help you find the right match.

1. Pfizer

Pfizer Ventures is the investment arm of the global biopharmaceutical company, Pfizer. It backs companies that are developing breakthrough medicines and health technologies.

The firm focuses on areas like biotechnology and precision medicine, with a portfolio that includes high-profile companies like Arrakis Therapeutics and Artios Pharma. As a corporate venture arm, it provides strategic value alongside capital, aligning with innovators in health technology.

This firm is a strong match for founders whose work aligns with Pfizer's strategic interests in novel therapeutics. Companies that could benefit from the resources and expertise of a major pharmaceutical player would find them a good partner.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

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

You can refer to their website here.

2. Bristol-Myers Squibb

Bristol-Myers Squibb is a global pharmaceutical company that discovers, develops, and commercializes medicines. It actively invests in and partners with innovative companies to expand its pipeline of therapies.

The firm's investment strategy centers on strategic partnerships and acquisitions, particularly in oncology and neuroscience. Recent moves include acquiring Karuna Therapeutics to strengthen its neuroscience franchise and partnering with BioNTech on cancer therapies.

This makes Bristol-Myers Squibb an ideal partner for founders with late-stage clinical assets that align with its therapeutic areas. They offer a clear path to market and significant resources beyond just capital.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Early Stage Venture, Venture
• Industries of focus: Biotechnology, Health Care, Medical, Pharmaceutical, Precision Medicine
• Geographical presence: New York, New York
• Founded: 1887
• Notable portfolio companies: BioNTech, Karuna Therapeutics, Cellares, Mirati Therapeutics
• Investor type: Corporate Venture Capital
• Portfolio size: 101 investments

You can refer to their website here.

3. Apple Tree Partners

Apple Tree Partners is a venture capital firm that forms, funds, and builds companies in the life sciences. They invest across pharmaceuticals, biotechnology, and medical technology.

The firm is notable for its full-lifecycle approach, supporting companies from the seed stage through post-IPO. Their portfolio includes several major exits, such as the acquisition of Corvidia Therapeutics by Novo Nordisk and HeartWare International by Medtronic.

This makes them a strong partner for founders seeking a long-term investor. If you're building a company in their core sectors, they have the experience to guide you from initial concept to a major exit.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• 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: 1999
• Notable portfolio companies: Akero Therapeutics, Stoke Therapeutics, Corvidia Therapeutics, HeartWare International
• Investor type: Venture Capital
• Portfolio size: 61 investments

You can refer to their website here.

4. Schooner Capital

Schooner Capital is a private investment firm that has been active since 1971, operating as both a venture capital and private equity investor. Based in Boston, they back companies across a wide range of growth stages, from seed rounds to later-stage financing.

The firm’s portfolio is notably diverse, including investments in pharmaceutical companies like Cullinan Oncology and deep tech like Commonwealth Fusion Systems. They have a history of supporting companies through major milestones, including IPOs and acquisitions by global corporations.

This makes Schooner Capital a good match for founders seeking a flexible, long-term partner that isn't confined to a single industry. Their track record shows they are comfortable with both complex technologies and consumer brands.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• 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: 1971
• Notable portfolio companies: Cullinan Oncology, Commonwealth Fusion Systems, Seventh Generation
• Investor type: Private Equity Firm, Venture Capital
• Portfolio size: 70 investments

You can refer to their website here.

5. Vertex Ventures HC

Vertex Ventures HC is a venture capital firm that invests across the healthcare industry. Their focus includes biopharmaceuticals, medical devices, and digital health companies.

The firm backs companies developing novel therapies and technologies, from new cancer treatments to advanced medical devices. Their portfolio includes pioneers like Boundless Bio, which targets gene-amplified cancers, and Neuspera Medical, which is creating miniaturized implantable devices.

Vertex Ventures HC is a good fit for founders with a strong scientific or technical foundation in biopharma or medical devices. They are well-suited for companies moving toward clinical trials or commercialization.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Early Stage Venture, Late Stage Venture
• Industries of focus: Health Care, Medical Device, Pharmaceutical, Financial Services
• Geographical presence: Palo Alto, California
• Founded: 2014
• Notable portfolio companies: Boundless Bio, Palleon Pharmaceuticals, Sonoma Biotherapeutics, Neuspera Medical
• Investor type: Venture Capital
• Portfolio size: 40 investments

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. They concentrate on the healthcare and business services industries.

The firm is distinguished by its broad investment range, backing companies from seed stage through private equity rounds. Their portfolio includes major healthcare exits, such as the acquisition of biotech innovator GlycoFi by Merck and the $8.5 billion take-private of PAREXEL International.

This makes them a strong choice for founders in healthcare or business services who are looking for a long-term financial partner. Their track record suggests they can guide companies through multiple stages of growth toward a significant exit.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Private Equity
• Industries of focus: Health Care, Pharmaceutical, Information Technology, Financial Services
• Geographical presence: Boston, Massachusetts
• Founded: 1984
• Notable portfolio companies: PAREXEL International, GlycoFi, Ilex Oncology
• Investor type: Private Equity Firm, Venture Capital
• Portfolio size: 140 investments

You can refer to their website here.

7. Aperture Venture Partners

Aperture Venture Partners is a New York-based venture capital firm that invests in the medical device, pharmaceutical, healthcare, and diagnostic sectors. They support companies from early to late venture stages.

The firm has a strong record of guiding companies to major exits, including the $11.6 billion acquisition of Biohaven Pharmaceutical by Pfizer and the IPO of Inspire Medical Systems. This history shows their ability to back companies in both biopharma and med-tech through to significant liquidity events.

Aperture is an excellent partner for founders with clinically advanced assets in the pharmaceutical or medical device fields. They are well-suited for teams that are planning for a major exit, whether through an IPO or a strategic acquisition.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Early Stage Venture, Late Stage Venture
• Industries of focus: Medical Device, Pharmaceutical, Health Care, Diagnostics
• Geographical presence: New York, New York
• Founded: 2002
• Notable portfolio companies: Biohaven Pharmaceutical, Inspire Medical Systems, Aclaris Therapeutics, Cardiac Dimensions
• Investor type: Venture Capital
• Portfolio size: 62 investments

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 support businesses in the biotechnology and pharmaceutical sectors from early to late venture stages.

The firm has a history of backing companies with breakthrough science that achieve major exits, such as Horizon Therapeutics' acquisition by Amgen for approximately $27.8 billion. Their portfolio also includes medical device innovators like Cardiovalve, which is developing a transcatheter valve replacement system.

NGN Capital is a good fit for founders in the biopharma and medical device sectors with clinically advanced assets. They are well-suited for companies targeting large markets with a clear path toward an IPO or strategic acquisition.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment stages: Early Stage Venture, Late Stage Venture
• Industries of focus: Biotechnology, Pharmaceutical, Health Care
• Geographical presence: New York, New York
• Founded: 2003
• Notable portfolio companies: Horizon Therapeutics, Exosome Diagnostics, Cardiovalve, OptiScan Imaging
• Investor type: Venture Capital
• Portfolio size: 38 investments

You can refer to their website here.

What This Tells Us About The VC Scene for Pharmaceutical Companies

This overview of investors shows a strong and varied funding environment for pharmaceutical companies. You'll notice a significant concentration of firms in East Coast hubs like New York and Boston, which can help focus your outreach efforts. The investor base itself is diverse, including corporate venture arms, traditional VCs, and private equity firms, each offering different strategic advantages.

While some investors specialize, many firms on our list support companies from seed funding through late-stage growth. This indicates a well-balanced sector where you can find a financial partner regardless of your company's maturity. Once you secure funding, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

Raise Confidently with Rho

A focused list of relevant investors is a major advantage. This lets you direct your limited time and energy toward the firms most likely to fund your work.

After your round is closed, the work of managing that capital begins. Rho can help you set up your financial stack in minutes so you can put your new funds to work.

We provide integrated business banking, corporate cards, and automated bill pay. These tools help you manage and deploy your new capital with clarity and control.

FAQs about Venture Capital Firms Focused on Pharmaceutical

Which US cities are hubs for pharmaceutical venture capital firms?

Major hubs for pharmaceutical and life science venture capital firms include Boston and New York. The San Francisco Bay Area is another key center, with a high concentration of investors focused on health technology and medical devices.

Are there many European venture capital firms for life sciences?

Yes, Europe has a growing number of specialized life science venture capital firms. Cities like London, Berlin, and hubs in Switzerland are home to investors actively funding pharmaceutical, biotech, and medical technology companies across various growth stages.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

What do early-stage healthcare VC firms look for in a startup?

Beyond strong science, early-stage healthcare VC firms want to see a clear clinical or market need, a well-defined development plan, and a founding team with deep domain expertise. Intellectual property protection is also a critical factor.

How do corporate venture capital firms differ from traditional VCs?

Corporate VCs, like Pfizer Ventures, often seek strategic alignment with their parent company's goals. In addition to capital, they can provide access to industry expertise, research facilities, and potential partnership opportunities that traditional VCs typically cannot.

How can I manage my funds after a successful raise?

After closing your round, effective capital management is key. Rho provides an integrated platform with business banking, corporate cards, and automated bill pay to help you deploy your new funding with clarity and control.