# Alvotech funding: rounds and investors

> Alvotech has raised $465M across 2 rounds since 2019. Investors include Morgan Stanley Investment Management, Shinhan Capital and Athos Capital.

Source: https://millionrounds.com/company/alvotech (Millionrounds; every figure on the page links to its filing or article)

Iceland · [Funded startup](https://millionrounds.com/companies)

# Who invested in *Alvotech*

2 rounds we have observed, with the 3 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Biotech Healthcare

Raised 5 months ago

Funding summary Updated 26 Oct 2026

**$465M** raised across 2 rounds since 2019, from 2 sources

**$300M** Round **$165M** Round

- **Latest round:** Round, $165M Jun 2026
- **Biggest round:** $300M Round · Jan 2019
- **Investors:** 3

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2019 2020 2021 2022 2023 2024 2025 2026

**$300M** Round

**$165M** Round

- **First round:** Round, $300M
- **Biggest round:** $300M
- **Between rounds:** 7.3 years

## The rounds

- **Jun 2026** Round **$165M** *2 new* [Shinhan Capital](https://millionrounds.com/fund/shinhan-capital) [Athos Capital](https://millionrounds.com/fund/athos-capital) Source recorded
- **Jan 2019** Round **$300M** *1 new* [Morgan Stanley Investment Management](https://millionrounds.com/fund/morgan-stanley-investment-management) Reported by Bioprocessintl

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Round** 2019 **Round** 2026 [Morgan Stanley Investment Management](https://millionrounds.com/fund/morgan-stanley-investment-management) [Shinhan Capital](https://millionrounds.com/fund/shinhan-capital) [Athos Capital](https://millionrounds.com/fund/athos-capital)

## Everyone who backed them

[Morgan Stanley Investment Management](https://millionrounds.com/fund/morgan-stanley-investment-management) Private equity **1** round

[Shinhan Capital](https://millionrounds.com/fund/shinhan-capital) VC firm **1** round

[Athos Capital](https://millionrounds.com/fund/athos-capital) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=alvotech).

## Quick answers about Alvotech

### Who invested in Alvotech?

Alvotech's investors include Morgan Stanley Investment Management, Shinhan Capital and Athos Capital.

### How much has Alvotech raised?

Alvotech has raised $465M across 2 rounds since 2019.

### When did Alvotech last raise?

Alvotech's most recent round was an Undisclosed round of $165M in Jun 2026.

### What was Alvotech's biggest round?

Alvotech's largest round on record is $300M (Undisclosed round), in Jan 2019.

### Who backed Alvotech first?

Alvotech's first round on record, in Jan 2019, was backed by Morgan Stanley Investment Management.

### What stage is Alvotech at?

Alvotech's latest named round is an Undisclosed round, in Jun 2026.

### Where is Alvotech based?

Alvotech is based in Iceland.

## Companies like Alvotech

In the same sector, and raised in the last eighteen months.

[**Sidekick Health** Jan 2026](https://millionrounds.com/company/sidekick-health)[**Coherence Neuro** $55M · Oct 2026](https://millionrounds.com/company/coherence-neuro)[**Star Therapeutics** $325M · Oct 2026](https://millionrounds.com/company/star-therapeutics)[**Kinish** $35M · Oct 2026](https://millionrounds.com/company/kinish)[**Aribio** Oct 2026](https://millionrounds.com/company/aribio)[**CureBay** $57M · Oct 2026](https://millionrounds.com/company/curebay)

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