# Vivo Capital: portfolio, investments and team > Vivo Capital is a private equity based in United States. 140 investments on record, 37 in the last 12 months, latest Sept 2026. Source: https://millionrounds.com/fund/vivo-capital (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Vivo Capital Last cheque observed Sep 2026; 140 cheques on record. Deploying now New fund $149M, Oct 2026 Private equity Seed Series A Series B Longevity Wellbeing Health Deploying now **90%** of best year **37** **cheques in 12 months**, 140 on record Since the last cheque **55** days **00** hrs **00** min **00** sec Median round **$64M** Cheque size, as they say **$10M – $50M** Rounds led **2 of 140** Sole investor **8 rounds** Exits **1 from the portfolio** Mostly in **United States, 85%** Pitch Vivo Capital ## Vivo Capital highlights - 01 37 cheques in the last 12 months - 02 Mostly Series A and Series B: 52% of its rounds - 03 Sole investor in 8 rounds, median $4.9M - 04 1 exits from the portfolio ## What they do > Filed 2 private fund offerings with the SEC, the most recent in 2026-08 From their own website - **Type:** Private equity (from a list, unverified) - **Cheque size:** $10M – $50M as they say - **Stages:** Seed Series A Series B Growth - **Sectors:** Longevity Wellbeing Health - **Based in:** Palo Alto, United States - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **140 appearances** - **2026** 31 rounds - **Sept** **[Clene Nanomedicine](https://millionrounds.com/company/clene-nanomedicine)** US **$4.0M** With 1 other - **Sept** **[Provivi](https://millionrounds.com/company/provivi)** Debt · US **$2.5M** With 2 others - **Sept** **[AN2 Therapeutics](https://millionrounds.com/company/an2-therapeutics)** Grant · US **$40M** With 4 others - **Aug** **[Expedition Therapeutics](https://millionrounds.com/company/expedition-therapeutics)** Series B · US **$115M** With 3 others - **Jul** **[Alto Neuroscience](https://millionrounds.com/company/alto-neuroscience)** US **$100M** With 3 others - **Jul** **[Telum Therapeutics](https://millionrounds.com/company/telum-therapeutics)** Series A · ES · Inveready **$21M** With 6 others - **Jun** **[SonoThera](https://millionrounds.com/company/sonothera)** Series B · US · Ventureburn **$125M** With 10 others - **Jun** **[Legend Biotech](https://millionrounds.com/company/legend-biotech)** US **$226M** With 2 others - **Jun** **[ALX Oncology](https://millionrounds.com/company/alx-oncology)** Debt · US **$10M** With 4 others - **Jun** **[Celcuity](https://millionrounds.com/company/celcuity)** Debt · US **$500M** With 3 others - **May** **[Immunocan](https://millionrounds.com/company/immunocan)** Series A · CN · TechNode **Undisclosed** *Led* - **May** **[Signadori Bio](https://millionrounds.com/company/signadori-bio)** Seed · FR · Ventureburn **$13M** With 3 others - **May** **[Whitehawk Therapeutics](https://millionrounds.com/company/whitehawk-therapeutics)** US **$88M** With 2 others - **Apr** **[Revolution Medicines](https://millionrounds.com/company/revolution-medicines)** US **$1.5B** With 2 others - **Apr** **[Valneva](https://millionrounds.com/company/valneva)** FR **$43M** With 4 others - **Apr** **[Bonum Therapeutics](https://millionrounds.com/company/bonum-therapeutics)** Venture · US **$27M** With 1 other - **Apr** **[Trevi Therapeutics](https://millionrounds.com/company/trevi-therapeutics)** US **$173M** With 3 others - **Apr** **[Ossium Health](https://millionrounds.com/company/ossium-health)** Venture · US **$15K** With 4 others - **Mar** **[Candid Therapeutics](https://millionrounds.com/company/candid-therapeutics)** Venture · US **$505M** With 5 others - **Mar** **[Zenas BioPharma](https://millionrounds.com/company/zenas-biopharma)** US **$100M** With 4 others - **Mar** **[Alto Neuroscience](https://millionrounds.com/company/alto-neuroscience)** US **$120M** With 4 others - **Mar** **[OnKure Therapeutics](https://millionrounds.com/company/onkure-therapeutics)** US **$150M** With 4 others - **Mar** **[SAB Biotherapeutics](https://millionrounds.com/company/sab-biotherapeutics)** US **$85M** With 3 others - **Mar** **[Gyala](https://millionrounds.com/company/gyala)** Venture · IT **$4.7M** With 2 others - **Feb** **[Coherus Biosciences](https://millionrounds.com/company/coherus-biosciences)** US **$50M** With 3 others - **Feb** **[Immunic Therapeutics](https://millionrounds.com/company/immunic-therapeutics)** US **$400M** With 5 others - **Feb** **[COMPASS Pathways](https://millionrounds.com/company/compass-pathways)** GB **$200M** With 4 others - **Jan** **[Tebra](https://millionrounds.com/company/tebra)** Growth · US · TechStartups **$250M** With 6 others - **Jan** **[EpiBiologics](https://millionrounds.com/company/epibiologics)** Series B · US **$107M** With 4 others - **Jan** **[Kinaset Therapeutics](https://millionrounds.com/company/kinaset-therapeutics)** Series B · US **$103M** With 3 others - **Jan** **[Clene Nanomedicine](https://millionrounds.com/company/clene-nanomedicine)** US **$28M** With 1 other - **2025** 23 rounds - **Dec** **[Terns Pharmaceuticals](https://millionrounds.com/company/terns-pharmaceuticals)** US **$650M** With 3 others - **Dec** **[BlossomHill Therapeutics](https://millionrounds.com/company/blossomhill-therapeutics)** Series B · US **$84M** With 3 others - **Dec** **[CAMP4 Therapeutics](https://millionrounds.com/company/camp4-therapeutics)** US **$30M** With 3 others - **Dec** **[Sanegene Bio](https://millionrounds.com/company/sanegene-bio)** Series B · US **$110M** With 4 others - **Nov** **[Biohaven Pharmaceutical](https://millionrounds.com/company/biohaven-pharmaceutical)** US **$200M** With 3 others - **Nov** **[Pasithea Therapeutics](https://millionrounds.com/company/pasithea-therapeutics)** US **$60M** With 2 others - **Oct** **[Cidara Therapeutics](https://millionrounds.com/company/cidara-therapeutics)** Grant · US **$339M** With 5 others - **Oct** **[Zenas BioPharma](https://millionrounds.com/company/zenas-biopharma)** US **$120M** With 4 others - **Sept** **[Celcuity](https://millionrounds.com/company/celcuity)** Debt · US **$500M** With 3 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 Named by the firm itself, on a filing, its Form ADV or its company registration **16 named** AC **Albert Cha** A Managing Member of the General Partner i Filing they signed CY **Chen Yu** Managing Member of the General Partner i Filing they signed CH **Cinthia Hui-Hsin Sheu** Partner / Chief Operating Officer i Form ADV DD **DanDan Dong** Managing Member of the General Partner i Filing they signed DL **David Liu** Managing Member of the General Partner i Filing they signed EG **Edgar George Engleman** A Managing Member of the General Partner i Filing they signed FF **Frank Fang-Chien Kung** A Managing Member of the General Partner i Filing they signed GA **Gaurav Aggarwal** Managing Members of the General Partner i Filing they signed HL **Hongbo Lu** Managing Member of the General Partner i Filing they signed JB **Jack Bech Nielsen** Managing Member of the General Partner i Filing they signed KD **Kevin Dai** Managing Member of the General Partner i Filing they signed LH **Lu Hongbo** Managing Member of the General Partner i Filing they signed MS **Mahendra Shah** Managing Members of the General Partner i Filing they signed MJ **Michael J. Chang** Managing Member of the General Partner i Filing they signed S(**Shan (nmn) Fu** Managing Member of the General Partner i Filing they signed Z(**Zhanping (nmn) Wu** Partner / General Counsel / Chief Compliance Officer i Form ADV We also hold **44** 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. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law **$6.1B** assets it manages Oct 2026 **10+** funds on file numbered funds in its name **Registered** investment adviser full reporting to the SEC - **Legal name:** VIVO Capital LLC - **SEC number:** CRD 159868 Funds on its Form ADV **15** private funds, **$6.0B** in gross assets · filed Sept 2024 Venture **7** Private equity **5** Closed-end private fund that **3** - Vivo Capital Fund IX, L.P. *Private equity* 46 investors $2.6B - Vivo Opportunity Fund Holdings, L.P. *Closed-end private fund that* 65 investors $1.0B - Vivo Capital Fund VIII, L.P. *Private equity* 59 investors $609M - Vivo Capital Fund X, L.P. *Private equity* 16 investors $548M - Vivo Innovation Fund II Holdings, L.P. *Venture* 35 investors $340M - Vivo Super VIII Limited *Venture* 6 investors $225M - Vivo Co-Invest (C), L.P. *Private equity* 2 investors $150M - Vivo ASIA Opportunity Fund Holdings, L.P. *Closed-end private fund that* 21 investors $118M - Vivo Capital Surplus Fund VIII, L.P. *Private equity* 9 investors $84M - Vivo Opportunity Co-Invest, L.P. *Closed-end private fund that* 2 investors $81M And 5 more on the filing. Who backs their funds ## 1 LP on record in Vivo Capital's funds - **Committed:** $146M - **Funds:** 3 - **Vintages:** 2015 to 2018 The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Jun 2025. - [**California State Teachers Retirement System** 3 funds *$146M*](https://millionrounds.com/fund/california-state-teachers-retirement-system) Fund Vintage Committed Vivo Capital Fund IX 2018 $100M Vivo Capital Fund VIII 2015 $40M Vivo Capital Surplus Fund VIII 2015 $6.0M ## What they claim to have backed From their own portfolio page (on their website) **38** of 60 we have independently watched raise [Aadi Bioscience](https://millionrounds.com/company/aadi-bioscience)[Ajaxtherapeutics](https://millionrounds.com/company/ajax-therapeutics)[Alto Neuroscience](https://millionrounds.com/company/alto-neuroscience)[Ascendis Pharma](https://millionrounds.com/company/ascendis-pharma)[Bolt Biotherapeutics](https://millionrounds.com/company/bolt-biotherapeutics)[Caidya](https://millionrounds.com/company/caidya)[Cidara Therapeutics](https://millionrounds.com/company/cidara-therapeutics)[Compass Pathways](https://millionrounds.com/company/compass-pathways)[Compass Therapeutics](https://millionrounds.com/company/compass-therapeutics)[Epibiologics](https://millionrounds.com/company/epibiologics)[IO Biotech](https://millionrounds.com/company/io-biotech)[Immune-Onc Therapeutics](https://millionrounds.com/company/immune-onc-therapeutics)[Inspirna](https://millionrounds.com/company/inspirna)[Kinaset Therapeutics](https://millionrounds.com/company/kinaset-therapeutics)[Kira Pharmaceuticals](https://millionrounds.com/company/kira-pharmaceuticals)[Magnolia Medical Technologies](https://millionrounds.com/company/magnolia-medical-technologies)[Metacrine](https://millionrounds.com/company/metacrine)[Neocis](https://millionrounds.com/company/neocis)[Oricell Therapeutics](https://millionrounds.com/company/oricell-therapeutics)[Ossium Health](https://millionrounds.com/company/ossium-health)[Pasithea Therapeutics](https://millionrounds.com/company/pasithea-therapeutics)[Precision BioSciences](https://millionrounds.com/company/precision-biosciences)[Provivi](https://millionrounds.com/company/provivi)[Pulmocide](https://millionrounds.com/company/pulmocide)[Rayzebio](https://millionrounds.com/company/rayzebio)[Sanegene Bio](https://millionrounds.com/company/sanegene-bio)[Sera Prognostics](https://millionrounds.com/company/sera-prognostics)[Silence Therapeutics](https://millionrounds.com/company/silence-therapeutics)[Sinovac Biotech](https://millionrounds.com/company/sinovac-biotech)[SonoThera](https://millionrounds.com/company/sonothera)[Tebra Technologies](https://millionrounds.com/company/tebra)[Terns Pharmaceuticals](https://millionrounds.com/company/terns-pharmaceuticals)[Tourmaline Bio](https://millionrounds.com/company/tourmaline-bio)[Tranquis Therapeutics](https://millionrounds.com/company/tranquis-therapeutics)[Verona Pharma](https://millionrounds.com/company/verona-pharma)[Visirna Therapeutics](https://millionrounds.com/company/visirna-therapeutics)[Zai Lab](https://millionrounds.com/company/zai-lab)[Zenas Biopharma](https://millionrounds.com/company/zenas-biopharma) Achieve Life Sciences Agno Pharma AkiraBio Avadel Pharmaceuticals Avistone Pharmaceuticals BioDlink BlossomHill Therapeutics Bonraybio Createrna Science and Technology Dominique Dutscher Esco Aster Esco Lifesciences Group Evaheart Medical Device Genetron HCMed Innovations HanchorBio Histowiz IVERIC Bio Instil Bio Lepu Biopharm Lepu Scientech Medical Technology Mereo BioPharma Group and 15 more Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded. ## Exits from the portfolio Companies it backed that were later bought or listed **1 in all** **[Aspreva Pharmaceuticals Corp](https://millionrounds.com/company/aspreva-pharmaceuticals-corp)** Bought by Galenica Ltd. **Undisclosed** Oct 2007 An exit counts when it came after the firm's first round in the company. From historical deal records. New fund on file **$149M** raised in Oct 2026 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Seed Series A Series B Median round joined **$64M** the round, not its cheque Alone, median **$4.9M** Led 2 of 140 rounds **1%** - **Said size:** $10M – $50M - **Sole investor:** 8 rounds - **Last cheque:** Sept 2026 - **Exits:** 1 from the portfolio Rounds by stage said on their site - Series A said *18* - Series B said *18* - Series C *14* - Venture *10* - Debt *9* - Seed said *-* - Growth said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) 37 - [Janus Henderson Investors](https://millionrounds.com/fund/janus-henderson-investors) 16 - [Cormorant Asset Management](https://millionrounds.com/fund/cormorant-asset-management) 14 - [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) 12 - [Perceptive Advisors](https://millionrounds.com/fund/perceptive-advisors) 12 - [OrbiMed](https://millionrounds.com/fund/orbimed) 11 **Pitching Vivo Capital?** 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 Vivo Capital. A count of rooms they were both in, not a relationship either has claimed. [**RA Capital Management** Private equity **37** rounds together](https://millionrounds.com/fund/ra-capital-management)[**Janus Henderson Investors** Private equity **16** rounds together](https://millionrounds.com/fund/janus-henderson-investors)[**Cormorant Asset Management** Private equity **14** rounds together](https://millionrounds.com/fund/cormorant-asset-management)[**New Enterprise Associates** VC firm **12** rounds together](https://millionrounds.com/fund/new-enterprise-associates)[**Perceptive Advisors** Asset manager **12** rounds together](https://millionrounds.com/fund/perceptive-advisors)[**OrbiMed** Private equity **11** rounds together](https://millionrounds.com/fund/orbimed)[**Samsara BioCapital** VC firm **11** rounds together](https://millionrounds.com/fund/samsara-biocapital)[**Venrock** VC firm **11** rounds together](https://millionrounds.com/fund/venrock)[**Lilly Asia Ventures** VC firm **10** rounds together](https://millionrounds.com/fund/lilly-asia-ventures)[**Wellington Management** VC firm **10** rounds together](https://millionrounds.com/fund/wellington-management)[**TCG** Private equity **9** rounds together](https://millionrounds.com/fund/tcg)[**TCG Crossover** VC firm **9** rounds together](https://millionrounds.com/fund/tcg-crossover) ## Recently backed The latest companies Vivo Capital put money into. [**Clene Nanomedicine** $4.0M · Sept 2026](https://millionrounds.com/company/clene-nanomedicine)[**AN2 Therapeutics** $40M · Sept 2026](https://millionrounds.com/company/an2-therapeutics)[**Expedition Therapeutics** $115M · Aug 2026](https://millionrounds.com/company/expedition-therapeutics)[**Alto Neuroscience** $100M · Jul 2026](https://millionrounds.com/company/alto-neuroscience)[**Telum Therapeutics** $21M · Jul 2026](https://millionrounds.com/company/telum-therapeutics)[**SonoThera** $125M · Jun 2026](https://millionrounds.com/company/sonothera) ## Quick answers about Vivo Capital ### What does Vivo Capital invest in? Vivo Capital invests most often at Series A and Series B (52% of the rounds on record), in sectors such as Longevity, Wellbeing and Health. ### How active is Vivo Capital? 140 investments on record, 37 of them in the last 12 months, and it led 2. The most recent was in Sept 2026. ### What has Vivo Capital invested in recently? Its most recent investments on record: Clene Nanomedicine (Undisclosed round, Sept 2026), Provivi (Debt, Sept 2026) and AN2 Therapeutics (Grant, Sept 2026). ### How big are Vivo Capital's cheques? The median round it joins is $64M. It says it writes cheques of $10M to $50M. ### Does Vivo Capital lead rounds? Sometimes: it led 2 of its 140 investments on record (1%). ### Where does Vivo Capital invest? Most of the companies it backs are in the United States (85%) and France (5%). ### Is Vivo Capital investing now? Yes: it is actively investing, with 37 investments in the last 12 months. ### Who does Vivo Capital invest alongside? Most often RA Capital Management (37 rounds together), Janus Henderson Investors (16 rounds together) and Cormorant Asset Management (14 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=vivo-capital) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=vivo-capital)