Following is our list of 20 venture funds established by 16 top pharmaceutical and biotechnology companies based on revenue. The funds are ranked by total size, except for funds that disclose resources by the total size of annual award, which are ranked separately. Funds that do not disclose either total size or total annual giving are unranked.
Corporate venture funds are listed with their name; resources; current portfolio (mostly companies, though some funds invest in other funds); figure or range of investment per company, with ranges for initial investments where provided; investment preferences; and year established. Data for the list originated with the websites of the funds, with the findings emailed to corporate spokespeople for verification and, more often than not, updating with current figures on portfolio companies and investment ranges. In some cases, results vary with earlier-published figures or information.
The data appears to show a “sweet spot” for corporate venture funds of between $100 million and $250 million; ten of the 20 funds listed had total resources in that range.
The list does not include funds formed jointly by corporate venture funds and venture capital firms, mostly to develop early-stage companies and their therapeutics. A sufficient number of such funds have been created to warrant a possible separate list—especially in recent months, as biopharmas have scrambled to cut internal R&D costs. Also not included in the list is the former Biogen Idec New Venture Fund, which the company shut down in 2011, along with a startup incubator, in a shift of resources to internal R&D projects, as GEN reported at the time.