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Johnson & Johnson Innovation

Corporate, Venture Capital · Founded 2015 · Cambridge, United States

#402 Investor rankamong investors on Dealroom

Accelerating early-stage innovation through strategic partnership

111 Portfolio companies+50% in 5 years
9 Unicorns
162 Investments
Jul 2026 Last investment
01 · Fund commitments

The funds Johnson & Johnson Innovation backs.

Johnson & Johnson Innovation is a limited partner in 14 funds. 2 of them place in the Power Law Investor Ranking; those lead, best-ranked first.

Index Ventures
United Kingdom
#11 Power Law
Vivo Capital
United States
#376 Power Law
Accelerator Life Science Partners
United States
BioGeneration Ventures
Netherlands
Bioqube Ventures
Belgium
Blue Knight
United States
BVCF
China
Dementia Discovery Fund
United Kingdom
Gilde Healthcare
Netherlands
Medicxi
United Kingdom
MVM Life Science Partners
United Kingdom
SV Health Investors
United Kingdom
02 · Biggest holdings

Johnson & Johnson Innovation’s biggest current holdings.

The most valuable companies Johnson & Johnson Innovation still holds, ordered by Dealroom’s latest valuation. Companies that have been acquired or gone public are in Exits instead. Dealroom has no parsed shareholder register for Johnson & Johnson Innovation, so the size of each stake isn’t shown.

#CompanyValuation
  1. 1 CarbonUnicorn · Consumer Electronics · USA $2.4B
  2. 2 Iterative HealthUnicorn · Health · USA $1.4B

Unicorns and thoroughbreds Johnson & Johnson Innovation has backed and still holds, at Dealroom’s latest valuation. See the underlying shareholder registers on Dealroom →

03 · Exits

Johnson & Johnson Innovation’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from Johnson & Johnson Innovation’s transaction record.

$5.9B IPO · 2020
Entered Series ANow $3.1BHealth
$2.3B IPO · 2021
Entered Series B+Health
$2.3B acquisition · 2025
Entered Series B+Health
$168M IPO · 2018
Entered Series ANow $2.2BHealth
$2.1B acquisition · 2025
Entered Series B+Health
IPO · 2020
Entered Series ANow $1.7BHealth
Rapport Therapeutics
$601M IPO · 2024
Entered Series ANow $1.5BHealth
04 · Portfolio analysis

Where Johnson & Johnson Innovation’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 111 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. USA77
  2. Israel9
  3. UK8
  4. Netherlands5
  5. France4
  6. China3
  7. Belgium2
  8. Canada2
  9. Germany2
  10. Switzerland2
  11. Ireland1
  12. South Korea1
By sectorCount
  1. Health111
  2. Wellness Beauty6
  3. Enterprise Software4
  4. Robotics3
  5. Consumer Electronics1
  6. Dating1
  7. Engineering and Manufacturing Equipment1
  8. Jobs Recruitment1
  9. Security1
By stage enteredCount
  1. Series A49
  2. Series B+44
  3. Seed9
By growth stageCount
  1. Late Growth47
  2. Breakout Stage46
  3. Early Growth24
05 · Portfolio market map

Inside Johnson & Johnson Innovation’s portfolio.

The 60 highest-funded portfolio companies, of 111 tracked.

Cue
Health
Carbon
Consumer Electronics · Unicorn
$2.4B
HistoSonics
Health · Unicorn
$3.8B
RefleXion Medical
Health
$550M
CVRx
Health
$124M
Capstan Therapeutics
Health · Unicorn
$2.1B
Cala Health
Health
$385M
Verana Health
Health
$600M
Iterative Health
Health · Unicorn
$1.4B
Rapport Therapeutics
Health · Unicorn
$1.5B
Paige.AI
Health
$81M
Bright Peak Therapeutics
Health
$535M
V-Wave
Health
$600M
Memebox
Wellness Beauty
$175M
Pulmocide
Health
$460M
TRex Bio
Health
$420M
Thirty Madison
Health
$500M
CereVasc
Health
$340M
Aetion
Health
$440M
Rome Therapeutics
Health
$385M
SonoThera
Health
$500M
Ribon Therapeutics
Health
$325M
Rallybio
Health
$38M
EpiBiologics
Health
$428M
Hangzhou DAC Biotech Co., Ltd
Health
$624M
Fusion Pharmaceuticals
Health · Unicorn
$1.7B
Aro Biotherapeutics
Health
$440M
Inivata
Health
$500M
CuraSen Therapeutics
Health
$183M
Legend Biotech
Health · Unicorn
$3.1B
Adicet Bio
Health
Redona Therapeutics
Health
$60M
BlackThorn Therapeutics
Health
$304M
ONL Therapeutics
Health
$260M
ImmPACT-Bio
Health
$94M
E Scape Bio
Health
$292M
Citryll
Health
$374M
Asceneuron
Health
$400M
Locus Biosciences
Health
$140M
On Target Laboratories
Health
$200M
BiomX
Health
$18M
Orasis Pharmaceuticals
Health
$272M
Osteal Therapeutics
Health
$200M
PAQ Therapeutics
Health
$195M
G.I. Windows
Health
$172M
AviadoBio
Health
$320M
Moon Surgical
Health
$222M
Mestag Therapeutics
Health
$160M
Nanobiotix
Health · Unicorn
$2.0B
Stylus Medicine
Health
$340M
Minerva Neuroscience
Health
$129M
Spectrawave
Health
$200M
Perceive Bio
Health
$312M
CartiHeal
Health
$330M
Keeps
Health
$61M
Rondo Therapeutics
Health
$268M
Prazer Therapeutics
Health
$168M
Torax Medical
Health
$100M
Raziel Therapeutics
Health
$168M
Link Cell Therapies
Health
$240M
06 · Portfolio founders

Where Johnson & Johnson Innovation’s portfolio founders come from.

118 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States75
  2. Israel8
  3. United Kingdom8
  4. France6
  5. Sweden4
  6. Switzerland4
  7. Germany3
  8. South Korea3
  9. Netherlands2
  10. Canada1
UniversityCount
  1. University of California, Berkeley7
  2. Massachusetts Institute of Technology5
  3. Harvard University4
  4. Weizmann Institute of Science4
  5. Wharton School of the University of Pennsylvania4
  6. Cornell University3
  7. ETH Zurich3
  8. Harvard Medical School3
  9. University of California, San Francisco3
  10. University of Oxford3
Previous companyCount
  1. Johnson & Johnson Innovative Medicine4
  2. Alios BioPharma3
  3. Harvard Medical School3
  4. Massachusetts General Hospital3
  5. Stanford University3
  6. University of California, Berkeley3
  7. Alphabet | Google2
  8. Archimej Technology2
  9. Bel Group2
  10. Bersin by Deloitte2