Providing an in-depth overview of investment activity, valuations, and step-ups for venture-backed healthcare companies.
HSBC Venture Healthcare Reports
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Download the 2023 Annual Report
The healthcare market stabilized in 2023. The rate of new investments fell 28%, however, the top 10% of deals still successfully secured substantial funding rounds with step-up valuations. A significant contingent of companies raised new rounds at revised valuations, adhering to the notion that a “flat valuation is the new up-round”.
Download the 1H 2023 Report
In the first half of 2023, as valuations underwent a necessary reset, Venture Capitalists (“VCs”) emerged from their cautious stance and embarked on a fresh wave of investments. These VCs, buoyed by recently raised funds in 2021-2022, assumed the role of leading later-stage rounds, as crossover/hedge funds retreated.
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