Perceptive Advisors

Perceptive Advisors is a prominent investment firm with a specialized focus on the life sciences sector, operating primarily as a hedge fund manager. Founded by Joseph Edelman, the firm is headquartered in New York City and is known for its deep expertise in biotechnology, pharmaceuticals, and medical technology. Their investment strategy spans both public and private markets, aiming to identify and support innovative companies that are developing groundbreaking therapies and diagnostics.

The firm employs a comprehensive approach to capital deployment, engaging across various stages of company development. While widely recognized for its significant public equity investments in established life sciences companies, Perceptive Advisors also maintains a robust private investment arm. This includes the Perceptive Xontogeny Venture (PXV) Funds, which are specifically dedicated to early-stage companies, typically participating in seed, Series A, and Series B financings. Beyond these dedicated venture funds, their broader investment vehicles also engage in later-stage private rounds, such as Series C, D, and pre-IPO financings, often taking lead or co-lead positions in substantial capital raises.

Perceptive Advisors manages a considerable amount of capital, with its assets under management (AUM) frequently cited in the range of $8-10 billion. A testament to their commitment to fostering early innovation is the Perceptive Xontogeny Venture Fund III, which successfully closed in 2023 with $680 million in commitments, further solidifying their capacity to nurture nascent life sciences ventures. For private companies, their typical first check sizes can range from approximately $10 million for earlier-stage venture rounds to upwards of $150 million for significant later-stage private investments, demonstrating their ability to deploy substantial capital across the entire life sciences funding continuum.