Khosla Ventures topped the list of most active healthcare VCs in Q1’20, as Covid-19 intensified.
In Q1’20, healthcare deals plunged to its lowest level since Q4’18. Despite the slide, equity funding surpassed $14.6B — indicating that investors are making more concentrated bets. March marked the busiest month for investors, with $5.7B raised.
We take a look at the most active investors of Q1’20, amid the Covid-19 pandemic, below. These investors are ranked by the number of unique healthcare companies they inked new or follow-on deals with in Q1’20, and the list excludes incubators/accelerators like Y Combinator and Techstars.
Khosla Ventures took the No. 1 spot, investing in 10 unique healthcare companies in Q1’20, including:
- Karius, which makes a blood test for analyzing infectious diseases and is valued at $700M
- Iora Health, a primary care provider last valued at $286M
- Sword Health, a digital physical therapy startup which has garnered $23M in total disclosed funding
- Q Bio, which offers executive physicals and has $40M in total disclosed funding
- Deep Genomics, a drug discovery and diagnostics startup valued at $50M
Rounding out the rest of the top few are Qiming Venture Partners, Polaris Partners, Cormorant Asset Management, and RA Capital Management. All of the top investors in this list are headquartered in the US, with the exception of the China-based Qiming Venture Partners.
Companies that are present in multiple portfolios include:
- Iora Health, which has raised $350M thus far
- Lyra Therapeutics, a biotech company focused on ear, nose, and throat diseases that raised $56M at a valuation of $198M in its May 1 IPO
- Generation Bio, which is developing gene therapies and has raised a total of $235M
- Akouos, a gene therapy firm tackling hearing loss that has collected $163M in funding
- Kallyope, a biotech firm that targets the “gut-brain axis” that has seen $243M in total funding
In the digital health space, Khosla Ventures remains the most active investor, followed by Lux Capital, Oak HC/FT Partners, Casdin Capital, and UnityPoint Health Ventures. We define digital health to include companies in the healthcare space that use technology and software as a key differentiator.
For all of the underlying data and insights, check out our State Of Healthcare Q1’20 Report: Investment & Sector Trends To Watch.
This report was created with data from CB Insights’ emerging technology insights platform, which offers clarity into emerging tech and new business strategies through tools like:
- Earnings Transcripts Search Engine & Analytics to get an information edge on competitors’ and incumbents’ strategies
- Patent Analytics to see where innovation is happening next
- Company Mosaic Scores to evaluate startup health, based on our National Science Foundation-backed algorithm
- Business Relationships to quickly see a company’s competitors, partners, and more
- Market Sizing Tools to visualize market growth and spot the next big opportunity