Finance Watch: VC Mega-Rounds Make A Comeback In March

Several $100m-Plus Financings After Early 2023 Drought

 
• By Mandy Jackson
  
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Private Company Edition: After just seven venture capital rounds of $100m or more in January and February, five have been announced already in March, including a $200m series A round for Cargo Therapeutics, Chroma Medicine’s $135m series B financing and $112m for Noema’s series B.

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After what seemed like a relatively quiet stretch for venture capital mega-rounds of $100m or more, the pace of large VC financings has picked up in March with five big rounds announced already this month, led by a $200m series A for CARGO Therapeutics, Inc., which launched on 1 March to develop next-generation chimeric antigen receptor T-cell (CAR-T) therapies, including a Phase II-ready asset.

Venture capital investors raised billions of dollars during the past few years for biopharma opportunities, but many slowed the pace...

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