Catalio Capital closes over $400M Fund IV

Enterprise capital agency Catalio Capital Administration introduced right this moment the closing of its greater than $400 million Fund IV, as first reported by Bloomberg. The fund will proceed the agency’s thesis of backing healthcare and biotechnology firms. 

The agency was based in 2020 and has made greater than 100 investments, in keeping with PitchBook. Catalio’s Fund IV, particularly, has backed 16 firms already, together with the diagnostics firm PinkDx and the drug discovery firm Superluminal Medicines. 

The agency beforehand raised a $381 million Fund III in 2020 and a $100 million Fund II in 2019, per PitchBook. 

The biotech market, particularly, has not been proof against the enterprise downturn of the previous 12 months, adopted by increased rates of interest and a cooler IPO market. The market total raised simply $12 billion final 12 months, a pointy decline from its peak of $152.3 billion in 2023, as reported by Bloomberg.