- Family offices made 52 direct investments in private companies in August, according to Fintrx.
- About 20% of the month’s investments went to biotech startups, including LifeMine Therapeutics, which raised $188 million from backers including Bezos Expeditions and Gates Frontier.
- The artificial intelligence boom has fueled a rebound in venture funding for biopharma startups that already have drugs in testing.
Stanley Druckenmiller at CNBC’s Delivering Alpha on Sept. 28, 2022.
Scott Mlyn | CNBC
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Investment firms of ultra-wealthy families are helping fuel the venture capital rebound in biotechnology. In August, family offices made 52 direct investments in private companies, with biotech startups representing about 20% of transactions, according to data provided exclusively to CNBC by Fintrx, a private wealth intelligence platform.
Stanley Druckenmiller’s Duquesne Family Office, one of the most active family offices in the U.S., has backed at least four pharmaceuticals or life sciences companies this year Duquesne participated in a $90 million Series C round for Epicrispr Biotechnologies. The 8-year-old startup is pioneering a new gene therapy for a rare muscle disorder known as facioscapulohumeral muscular dystrophy, or FSHD
Druckenmiller said in January that Duquesne had made
Druckenmiller said in January that Duquesne had made substantial investments in biotech due to the potential of artificial intelligence.
“I knew because I’ve been on the board of Memorial Sloan Kettering for 30 years, that probably the best use case out there of AI is biotech through drug discovery, diagnostics, monitoring everything,” he said in an interview conducted by Morgan Stanley.
In August, the namesake family office of Jeff Bezos also joined a $188 million Series E for LifeMine Therapeutics, which uses AI to analyze fungal genomes to develop new drugs. LifeMine is currently testing a drug compound to prevent organ failure in transplant recipients.
Bill Gates’ venture capital firm, Gates Frontier, also participated in the megaround.
Venture funding for biotechnology has rebounded strongly this
Venture funding for biotechnology has rebounded strongly this year. U.S. and European biopharma startups raised a whopping $12.6 billion in the first half of 2026, a five-year high, according to analysis by Silicon Valley Bank, now a division of First Citizens Bank after its 2023 collapse and subsequent sale.
That said, investors are writing fewer checks overall, especially for early-stage startups, with a greater share of funding going toward companies with drugs already in testing citing its own data and data from PitchBook
Source: www.cnbc.com
