Pivotal bioVenture Partners closes Fund II with $389m

Pivotal bioVenture Partners, a Bay Area-based private equity firm, has successfully closed its second fund, Pivotal bioVenture Partners Fund II, at $389 million. Despite a first close during the market peak in mid-2021, the firm still has over 75% of the funding available for deployment.

Additionally, Pivotal aims to sustain long-term investments in publicly traded biotechs and support private startups in securing later-stage rounds and IPOs. This capital raise underscores Pivotal's commitment to advancing innovation and growth within the biotech sector.