Investor profile

Vivo Capital

Private Equity, Venture Capital · Founded 1996 · Palo Alto, United States

Healthcare focused investment firm

131 portfolio companies Private Equity, Venture Capital · $12B invested · 198 investments · Investor rank #216 · Last investment 8/2026

Portfolio companies 131 ↑ 27% 5y

Decacorns 4

Thoroughbreds 28 ↑ 13% 5y

Power Law #376Investor Ranking · Global · 2026 · Top 2%

01 · Exits

Vivo Capital’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 Vivo Capital’s transaction record.

Revolution Medicines

$1.4B IPO · 2020

Entered Series B+Now $41BHealth

Ascendis Pharma

$373M IPO · 2015

Entered Series B+Now $17BHealth

Kite Pharma

$625M IPO · 2014

Now $12BHealth

Verona Pharma

$163M IPO · 2017

Entered Series ANow $10BHealth

Cidara Therapeutics

$320M IPO · 2015

Now $9.2BHealth

Crinetics Pharmaceuticals

$391M IPO · 2018

Entered Series ANow $7.8BHealth

Shire

IPO · 2003

Now $5.9BHealth

Legend Biotech

$5.9B IPO · 2020

Entered Series ANow $3.6BHealth

Apellis Pharmaceuticals

$691M IPO · 2017

Entered Series B+Now $5.3BHealth

Terns Pharmaceuticals

$430M IPO · 2021

Entered Series B+Now $5.1BHealth

Celcuity

$94M IPO · 2017

Now $4.5BHealth

RemeGen

$4.3B IPO · 2020

Entered Series B+Now $4.3BHealth

02 · Portfolio analysis

Where Vivo Capital’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 131 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount

USA154
China36
UK7
Canada4
France4
Ireland3
Taiwan3
Brazil2
Denmark2
Hong Kong2
Belgium1
Finland1

By sectorCount

Health201
Marketing5
Food4
Enterprise Software3
Robotics3
Fintech2
Wellness Beauty2
Chemicals1
Education1
Energy1
Home Living1

By stage enteredCount

Series B+80
Series A35
Seed1

By growth stageCount

Late Growth131
Breakout Stage56
Early Growth32
Mature10

03 · Portfolio market map

Inside Vivo Capital’s portfolio.

The 60 highest-funded portfolio companies, of 131 tracked.

Lepu Biopharma

Health

$998M

Olema Oncology

Health

$550M

Crinetics Pharmaceuticals

Health · Unicorn

$7.8B

Surrozen

Health

$205M

RayzeBio

Health · Unicorn

$3.7B

SAB Biotherapeutics

Health

$257M

COMPASS Pathways

Health · Unicorn

$1.4B

OriCell Therapeutics

Health

$600M

Poseida Therapeutics

Health

$778M

Adarx Pharmaceuticals

Health

$800M

Aligos Therapeutics

Health

$8.4M

Alto Neuroscience

Health

$874M

ORIC Pharmaceuticals

Health · Unicorn

$1.1B

Gracell Biotechnologies

Health

$704M

Expedition Therapeutics

Health

$825M

Compass Therapeutics

Health

$216M

Full-Life Technologies

Health

$440M

Aadi Bioscience

Health

$271M

Achieve Life Science

Health

$668M

Serapha Bio

Health

$552M

IO Biotech

Health

Revolution Medicines

Health · Decacorn

$41B

Passage Bio

Health

Pulmocide

Health

$460M

Amyris Biotech

Chemicals

$532M

Sera Prognostics

Health

$36M

Selecta Biosciences

Health

$127M

Kinaset Therapeutics

Health

$412M

TRIA Beauty

Wellness Beauty

$30M

Instil Bio

Health

$60M

Serán Bioscience

Health

Avistone Pharmaceuticals

Health

$800M

Esco Lifesciences

Health

$800M

Vyne Therapeutics

Health

Nabriva Therapeutics

Health

Attralus

Health

$232M

Terns Pharmaceuticals

Health · Unicorn

$5.1B

SanegeneBio

Health

$440M

Adverum Biotechnologies

Health

$159M

Tourmaline Bio

Health

$991M

InBrace

Health

$408M

ALX Oncology

Health

$162M

SonoThera

Health

$500M

Ribon Therapeutics

Health

$325M

Regulus Therapeutics

Health

$501M

DBV Technologies

Health

$644M

Neocis

Health

$360M

Ruilongnuofu Medical Technology

Health

$600M

EpiBiologics

Health

$428M

Korsana Biosciences

Health

$600M

Revance Therapeutics

Health

$643M

BlossomHill Therapeutics

Health

$400M

Provivi

Food

$228M

04 · Portfolio founders

Where Vivo Capital’s portfolio founders come from.

114 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