# Eli Lilly: portfolio, investments and team > Eli Lilly is a corporate vc based in United States. 135 investments on record, 40 in the last 12 months, latest Sept 2026. Source: https://millionrounds.com/fund/eli-lilly (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Eli Lilly Last cheque observed Sep 2026; 135 cheques on record. Deploying now Corporate VC Series A Venture Series B Biotechnology Clinical Trials Biotechnology Deploying now **95%** of best year **40** **cheques in 12 months**, 135 on record Since the last cheque **32** days **00** hrs **00** min **00** sec Median round **$51M** Rounds led **0 of 135** Sole investor **11 rounds** Exits **1 from the portfolio** Mostly in **United States, 68%** Pitch Eli Lilly ## Eli Lilly highlights - 01 40 cheques in the last 12 months - 02 Mostly Series A and Venture: 60% of its rounds - 03 Sole investor in 11 rounds, median $11M - 04 1 exits from the portfolio ## What they do - **Type:** Corporate VC (from a list, unverified) - **Cheque size:** Not stated - **Sectors:** Biotechnology Clinical Trials Biotechnology - **Based in:** Indianapolis, United States - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **135 appearances** - **2026** 34 rounds - **Sept** **[BigHat Biosciences](https://millionrounds.com/company/bighat-biosciences)** Series C · US · Kevin Moore **$75M** With 4 others - **Sept** **[Thatch](https://millionrounds.com/company/thatch)** Series C · US · TechCrunch **$108M** With 5 others - **Sept** **[Caspian Therapeutics](https://millionrounds.com/company/caspian-therapeutics)** Series A · QRM Capital **$50M** With 7 others - **Sept** **[Superluminal Medicines](https://millionrounds.com/company/superluminal-medicines)** Series B · US **$66M** With 4 others - **Sept** **[QurCan Therapeutics Inc.](https://millionrounds.com/company/qurcan-therapeutics-inc)** Venture · CA **$3.0M** With 2 others - **Sept** **[ViaNautis](https://millionrounds.com/company/vianautis)** Venture · GB **$27M** Sole investor - **Sept** **[Orbis Medicines](https://millionrounds.com/company/orbis-medicines)** Venture · DK **$94M** With 4 others - **Sept** **[Circle Pharma](https://millionrounds.com/company/circle-pharma)** Series E · US **$93M** With 1 other - **Sept** **[Beta Bionics](https://millionrounds.com/company/beta-bionics)** US **$173M** With 3 others - **Sept** **[Moonwalk Biosciences](https://millionrounds.com/company/moonwalk-biosciences)** Series B · US **$70M** With 4 others - **Sept** **[updoc](https://millionrounds.com/company/updoc)** Grant · AU **$9.2M** With 4 others - **Jul** **[AdvanCell](https://millionrounds.com/company/advancell)** Series D · AU · QRM Capital **$315M** With 16 others - **Jul** **[Alto Neuroscience](https://millionrounds.com/company/alto-neuroscience)** US **$100M** With 3 others - **Jul** **[Oura](https://millionrounds.com/company/oura)** Venture · FI **$900M** With 4 others - **Jul** **[Alchemab Therapeutics](https://millionrounds.com/company/alchemab-therapeutics)** Series A · GB **$34M** With 4 others - **Jul** **[Ratio Therapeutics](https://millionrounds.com/company/ratio-therapeutics)** Series C · US **$70M** With 1 other - **Jun** **[SonoThera](https://millionrounds.com/company/sonothera)** Series B · US · Ventureburn **$125M** With 10 others - **Jun** **[Laverock Therapeutics](https://millionrounds.com/company/laverock-therapeutics)** Grant · GB **$3.0M** With 3 others - **Jun** **[TRIMTECH Therapeutics](https://millionrounds.com/company/trimtech-therapeutics)** Seed · US **$14M** With 1 other - **Jun** **[Absci](https://millionrounds.com/company/absci)** US **$100M** With 3 others - **Jun** **[Lycia Therapeutics](https://millionrounds.com/company/lycia-therapeutics)** Series D · US **$75M** With 3 others - **Jun** **[ProQR Therapeutics](https://millionrounds.com/company/proqr-therapeutics)** NL **$59M** With 1 other - **May** **[LTZ Therapeutics](https://millionrounds.com/company/ltz-therapeutics)** CN · Ventureburn **$38M** With 4 others - **May** **[Cabaletta Bio](https://millionrounds.com/company/cabaletta-bio)** US **$150M** With 4 others - **May** **[Remedium Bio](https://millionrounds.com/company/remedium-bio)** Venture · US **$1.5M** With 1 other - **Apr** **[Incyclix Bio](https://millionrounds.com/company/incyclix-bio)** Series B · US **$5.0M** With 2 others - **Apr** **[Iterative Health](https://millionrounds.com/company/iterative-health)** Series C · US **$77M** With 3 others - **Mar** **[Crossbow Therapeutics](https://millionrounds.com/company/crossbow-therapeutics)** Series B · US **$77M** With 1 other - **Feb** **[BreezeBio](https://millionrounds.com/company/breezebio)** Series B · US **$60M** With 3 others - **Jan** **[Recludix Pharma](https://millionrounds.com/company/recludix-pharma)** Venture · US **Undisclosed** With 2 others - **Jan** **[ProQR Therapeutics](https://millionrounds.com/company/proqr-therapeutics)** Grant · NL **$9.2M** With 1 other - **Jan** **[TRex Bio](https://millionrounds.com/company/trex-bio)** Venture · US **$50M** With 3 others - **Jan** **[InduPro](https://millionrounds.com/company/indupro)** Venture · US **Undisclosed** With 1 other - **Jan** **[XellSmart](https://millionrounds.com/company/xellsmart)** Venture **Undisclosed** With 3 others - **2025** 35 rounds - **Dec** **[Excelsior Sciences](https://millionrounds.com/company/excelsior-sciences)** Series A · US · AlleyWatch **$70M** With 3 others - **Dec** **[Sanegene Bio](https://millionrounds.com/company/sanegene-bio)** Series B · US **$110M** With 4 others - **Dec** **[Terns Pharmaceuticals](https://millionrounds.com/company/terns-pharmaceuticals)** US **$650M** With 3 others - **Nov** **[ABL Bio](https://millionrounds.com/company/abl-bio)** KR **$15M** With 1 other - **Nov** **[Gate Bioscience](https://millionrounds.com/company/gate-bioscience)** Series B · US **$65M** With 5 others - **Nov** **[NextCure](https://millionrounds.com/company/nextcure)** US **$22M** With 4 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team We hold **16** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## Exits from the portfolio Companies it backed that were later bought or listed **1 in all** **[Eyetel Imaging](https://millionrounds.com/company/eyetel-imaging)** Bought by NeuroMetrix **$10M** Dec 2007 An exit counts when it came after the firm's first round in the company. From historical deal records. ## Companies it bought Acquisitions by the firm itself **Novartis Animal Health** **$5.4B** Apr 2014 **[Avid Radiopharmaceuticals](https://millionrounds.com/company/avid-radiopharmaceuticals)** **$800M** Nov 2010 **[Alnara Pharmaceuticals](https://millionrounds.com/company/alnara-pharmaceuticals)** **Undisclosed** Jul 2010 **Imclone Systems** **$6.5B** Oct 2008 **[SGX Pharmaceuticals](https://millionrounds.com/company/sgx-pharmaceuticals)** **$66M** Jul 2008 ## The cheque Series A Venture Series B Median round joined **$51M** the round, not its cheque Alone, median **$11M** Led 0 of 135 rounds **0%** - **Sole investor:** 11 rounds - **Last cheque:** Sept 2026 - **Exits:** 1 from the portfolio Rounds by stage said on their site - Series A *35* - Venture *29* - Series B *28* - Series C *8* - Grant *7* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) 15 - [Alexandria Venture Investments](https://millionrounds.com/fund/alexandria-venture-investments) 12 - [ARCH Venture Partners](https://millionrounds.com/fund/arch-venture-partners) 9 - [Polaris Partners](https://millionrounds.com/fund/polaris-partners) 9 - [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) 9 - [Janus Henderson Investors](https://millionrounds.com/fund/janus-henderson-investors) 8 **Pitching Eli Lilly?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Eli Lilly. A count of rooms they were both in, not a relationship either has claimed. [**RA Capital Management** Private equity **15** rounds together](https://millionrounds.com/fund/ra-capital-management)[**Alexandria Venture Investments** VC firm **12** rounds together](https://millionrounds.com/fund/alexandria-venture-investments)[**ARCH Venture Partners** VC firm **9** rounds together](https://millionrounds.com/fund/arch-venture-partners)[**Polaris Partners** VC firm **9** rounds together](https://millionrounds.com/fund/polaris-partners)[**Qiming Venture Partners** VC firm **9** rounds together](https://millionrounds.com/fund/qiming-venture-partners)[**Janus Henderson Investors** Private equity **8** rounds together](https://millionrounds.com/fund/janus-henderson-investors)[**Sofinnova Partners** VC firm **8** rounds together](https://millionrounds.com/fund/sofinnova-partners)[**AbbVie** Corporate VC **7** rounds together](https://millionrounds.com/fund/abbvie)[**Catalio Capital Management** VC firm **7** rounds together](https://millionrounds.com/fund/catalio-capital-management)[**Cormorant Asset Management** Private equity **7** rounds together](https://millionrounds.com/fund/cormorant-asset-management)[**OrbiMed** Private equity **7** rounds together](https://millionrounds.com/fund/orbimed)[**Perceptive Advisors** Asset manager **7** rounds together](https://millionrounds.com/fund/perceptive-advisors) ## Recently backed The latest companies Eli Lilly put money into. [**BigHat Biosciences** $75M · Sept 2026](https://millionrounds.com/company/bighat-biosciences)[**Thatch** $108M · Sept 2026](https://millionrounds.com/company/thatch)[**QurCan Therapeutics Inc.** $3.0M · Sept 2026](https://millionrounds.com/company/qurcan-therapeutics-inc)[**ViaNautis** $27M · Sept 2026](https://millionrounds.com/company/vianautis)[**Orbis Medicines** $94M · Sept 2026](https://millionrounds.com/company/orbis-medicines)[**Circle Pharma** $93M · Sept 2026](https://millionrounds.com/company/circle-pharma) ## On podcasts 6 episodes naming Eli Lilly in the title, and 4 more that mention it. - [TBPN](https://millionrounds.com/podcasts/tbpn) 21 Nov 2025 · 2h 44m Guide to the AI Barnyard, Eli Lilly Hits $1T Valuation, Has AI Ruined the Em Dash? | Julia Steinberg, Bobby Ghoshal With [Bobby Ghoshal](https://millionrounds.com/person/bobby-ghoshal-2) Mentions [Eli Lilly](https://millionrounds.com/fund/eli-lilly) Apple PodcastsShow page - [Cheeky Pint](https://millionrounds.com/podcasts/cheeky-pint) 11 Nov 2025 · 2h 5m Dave Ricks, CEO of Eli Lilly, on GLP-1s and the business of pharma Mentions [Eli Lilly](https://millionrounds.com/fund/eli-lilly) Apple PodcastsShow page - [All-In](https://millionrounds.com/podcasts/all-in) 29 Sept 2025 · 31 min Inside the GLP-1 Gold Rush: Eli Lilly CEO on New Breakthroughs, Addiction & Mental Health, Pricing Mentions [Eli Lilly](https://millionrounds.com/fund/eli-lilly) Apple PodcastsShow page - [In Good Company](https://millionrounds.com/podcasts/in-good-company) 21 Feb 2025 · 11 min HIGHLIGHTS: David Ricks - CEO of Eli Lilly Mentions [Eli Lilly](https://millionrounds.com/fund/eli-lilly) Apple PodcastsShow page - [In Good Company](https://millionrounds.com/podcasts/in-good-company) 19 Feb 2025 · 56 min Eli Lilly CEO: The Weight-Loss Drug Revolution, AI in Pharma, and Innovation Mentions [Eli Lilly](https://millionrounds.com/fund/eli-lilly)[Revolution](https://millionrounds.com/fund/revolution) Apple PodcastsShow page - [The Biotech Startups Podcast](https://millionrounds.com/podcasts/biotech-startups) 14 Nov 2024 · 30 min 🧬Chris Moxham - Transcripta Bio - Part 2 | From Eli Lilly Recruit to NYC Lab Builder | Leading High-Stakes Drug Discovery | Pioneering Quantitative Biology | "Making the Trains Run on Time" Mentions [Eli Lilly](https://millionrounds.com/fund/eli-lilly) Apple PodcastsShow page ### Mentioned in - [Startuprad.io](https://millionrounds.com/podcasts/startuprad) 3 Sept 2026 · 29 min Startup News Germany, Austria, Switzerland July 2026: The Structural Rotation Apple PodcastsShow page - [The Biotech Startups Podcast](https://millionrounds.com/podcasts/biotech-startups) 7 May 2026 · 34 min 🧬 Engineering a Drug Hunter: From Vet School to Big Pharma | Martin Brenner Rerelease (1/3) Apple PodcastsShow page - [The Biotech Startups Podcast](https://millionrounds.com/podcasts/biotech-startups) 21 Nov 2024 · 27 min 🧬Chris Moxham - Transcripta Bio - Part 4 | Partnership Strategies with Big Pharma | Balancing Science & Business | Leveraging AI in Drug Discovery | The Vision for Transcripta Bio Apple PodcastsShow page - [The Biotech Startups Podcast](https://millionrounds.com/podcasts/biotech-startups) 18 Nov 2024 · 26 min 🧬Chris Moxham - Transcripta Bio - Part 3 | Embracing the Startup Challenge | Mastering Science-to-Business Communication | Building a Scalable Discovery Engine | Leveraging AI & Genetics in Drug Development Apple PodcastsShow page ## Quick answers about Eli Lilly ### What does Eli Lilly invest in? Eli Lilly invests most often at Series A and Venture (60% of the rounds on record), in sectors such as Biotechnology, Clinical Trials and Biotechnology. ### How active is Eli Lilly? 135 investments on record, 40 of them in the last 12 months. The most recent was in Sept 2026. ### What has Eli Lilly invested in recently? Its most recent investments on record: BigHat Biosciences (Series C, Sept 2026), Thatch (Series C, Sept 2026) and Caspian Therapeutics (Series A, Sept 2026). ### How big are Eli Lilly's cheques? The median round it joins is $51M. ### Does Eli Lilly lead rounds? Rarely, if at all: none of its 135 investments on record names it as the lead. ### Where does Eli Lilly invest? Most of the companies it backs are in the United States (68%), the United Kingdom (8%) and Australia (5%). ### Is Eli Lilly investing now? Yes: it is actively investing, with 40 investments in the last 12 months. ### Who does Eli Lilly invest alongside? Most often RA Capital Management (15 rounds together), Alexandria Venture Investments (12 rounds together) and ARCH Venture Partners (9 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=eli-lilly) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=eli-lilly)