BP
BVF Partners LP
San Francisco, California, United StatesFounded 1993
BVF Partners LP is a hedge fund manager that primarily focuses on long-term, value-oriented investments in small-cap and early-stage biotechnology companies. The firm employs a fundamental equity strategy, seeking undervalued opportunities and actively engaging with companies that have promising drug pipelines or innovative technologies within the healthcare sector.
91% of their portfolio is in Biotech & Life Sciences. Deal activity decreased year-over-year (2 deals in the last 12 months vs 7 prior). Average disclosed round size is $155.7M (across 11 rounds with reported amounts).
Portfolio
11
Fund Size
$6.1B
Top Stage
Series A
Last 12 Mo
2
Portfolio Breakdown
Stage Distribution
Investment Activity
DealsAvg Round Size
Portfolio
11 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Third Arc Bio Inc. | Series A | $52M | Feb 2026 |
 Crescent Biopharma | Growth | $200M | Jun 2025 |
| RRAPT Therapeutics, Inc. | Series D | $150M | Dec 2024 |
 Elektrofi, Inc. | Series C | $112.3M | Oct 2024 |
 Alpha-9 Oncology Inc. | Series C | $175M | Oct 2024 |
| IInventiva | Growth | $410M | Oct 2024 |
 Pheon Therapeutics | Series B | $120M | May 2024 |
 Cidara Therapeutics, Inc. | Series D | $240M | Apr 2024 |
 Diagonal Therapeutics | Series A | $128M | Apr 2024 |
 Forward Therapeutics, Inc. | Series A | $50M | Nov 2023 |
 Alpha-9 Theranostics Inc. | Series B | $75M | Dec 2022 |
Top Co-Investors
RA Capital Management5 shared
Frazier Life Sciences4 shared
Deep Track Capital4 shared
Perceptive Advisors4 shared
Samsara BioCapital4 shared
Lightspeed Venture Partners3 shared
Atlas Venture2 shared
OrbiMed2 shared
RTW Investments2 shared
Marshall Wace2 shared
General Catalyst2 shared
Janus Henderson Investors2 shared
Braidwell LP2 shared
Logos Capital2 shared
Paradigm BioCapital2 shared
Viking Global Investors1 shared
The Column Group1 shared
Foresite Capital1 shared
Medicxi1 shared
Redmile Group1 shared
Last updated: 8 March 2026