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    Vivo Capital

    Palo Alto, California, United StatesFounded 1996
    vivocapital.comLinkedIn
    HealthcareBiotech & Life Sciences

    Vivo Capital is a global healthcare investment firm founded in 1996 and headquartered in Palo Alto, California. It manages a multi-strategy platform spanning venture capital, growth equity, buyout, and public equities, focused on biotechnology, pharmaceuticals, medical devices, and healthcare services.

    51% of their portfolio is in Biotech & Life Sciences. Deal activity increased 33% year-over-year (8 deals in the last 12 months). Average disclosed round size is $87.5M (across 144 rounds with reported amounts).

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    Portfolio

    116

    Fund Size

    $740M

    Top Stage

    Series B

    Last 12 Mo

    8

    Team

    HD

    Hao Dong

    Managing Director

    KD

    Kevin Dai, Pharm.D

    Partner

    AC

    Albert Chang

    Executive Director Head Trader

    NF

    Nina Feng, M.B.A., C.F.A

    Chief Representative of Taiwan Office, Executive Director,Investor Relations

    AH

    Andrew Huang

    Principal

    JG

    Jane Gong

    Principal,Investor Relations

    JL

    Jiawei Liu

    Principal

    BS

    Brad Sunderland

    Associate,Investor Relations

    RD

    Richard Ding, M.Eng

    Analyst

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    150 investments
    CompanyRoundAmountDate
    Terns Pharmaceuticals logoTerns PharmaceuticalsSeries C$87MMay 2026
    Oricell Therapeutics logoOricell TherapeuticsUnknown$110MApr 2026
    Kinaset Therapeutics logoKinaset TherapeuticsSeries B$103MJan 2026
    KKinasetSeries B$103MJan 2026
    Sera Prognostics logoSera PrognosticsSeries E$100MJan 2026
    Serapha Bio logoSerapha BioSeries A$138MJan 2026
    OnKure Therapeutics logoOnKure TherapeuticsSeries C$150MJan 2026
    IInspiraSeries A$2.8MJan 2026
    SanegeneBio logoSanegeneBioSeries B$110MJan 2026
    BlossomHill Therapeutics logoBlossomHill TherapeuticsSeries B$84MDec 2025
    Seran Bioscience logoSeran BioscienceSeries C$200MSep 2025
    RRonovoSeries D$67MSep 2025
    Ronovo Surgical logoRonovo SurgicalSeries D$67MSep 2025
    SSAB Biotherapeutics, Inc.Series B$175MJul 2025
    DDBV Technologies S.A.Unknown$306.9MMar 2025
    Surrozen logoSurrozenSeries D$175MMar 2025
    SanegeneBio logoSanegeneBioSeries B$110MJan 2025
    35 Pharma logo35 PharmaSeries C$53MNov 2024
    Ventyx Biosciences logoVentyx BiosciencesSeries A$27MSep 2024
    Seran Bioscience logoSeran BioscienceGrowth$200MSep 2024
    Zenas BioPharma logoZenas BioPharmaSeries C$200MMay 2024
    Denali Therapeutics logoDenali TherapeuticsSeries C$217MMar 2024
    Neocis logoNeocisUnknown$20MJan 2024
    Zenas BioPharma logoZenas BioPharmaSeries C$200MJan 2024
    Seran Bioscience logoSeran BioscienceGrowth$200MJan 2024
    Page 1 of 6

    Top Co-Investors

    OrbiMed32 shared
    venBio22 shared
    RA Capital Management21 shared
    Logos Capital21 shared
    Cormorant Asset Management20 shared
    Pivotal Life Sciences17 shared
    Novo Holdings A/S16 shared
    LAV15 shared
    Sofinnova Partners12 shared
    Novo Capital12 shared
    Wellington Management12 shared
    Surveyor Capital11 shared
    Venrock Healthcare Capital Partners11 shared
    Samsara BioCapital9 shared
    BlackRock Private Equity Partners9 shared
    Bain Capital Life Sciences9 shared
    Rock Springs Capital8 shared
    HBM Healthcare Investments8 shared
    Foresite Capital8 shared
    Perceptive Advisors8 shared

    Last updated: 7 October 2026