Avoro Capital Advisors

What Avoro Capital Advisors does

Avoro Capital Advisors is a global life sciences investment firm, founded in 2014 and headquartered at 110 Greene Street, Suite 800, New York. Formerly known as venBio Select Advisor, the firm manages capital primarily focused on emerging biotechnology companies and operates across both public and private markets, with disclosed assets under management of over $4.5 billion (previously cited at $5.4 billion in 2021). The firm is led by Managing Partner and Portfolio Manager Dr. Behzad Aghazadeh, who previously served as Executive Chairman of Immunomedics through its $21 billion acquisition by Gilead Sciences in 2020. Its core investment team combines financial expertise with advanced scientific and medical credentials, including PhDs and MDs, supporting deep technical diligence on therapeutics ranging from pre-clinical to commercial-stage assets.

The firm's product platform has two principal components. Avoro Capital Advisors is the flagship SEC-registered investment manager providing public-equity and private investment management in life sciences. Avoro Ventures is the dedicated venture capital arm, which closed its inaugural fund (Avoro Ventures Fund L.P.) at $186 million in April 2022, enabling focused private investing in early-to-late stage biotechnology companies. Portfolio activity spans Series A through Series C and PIPE financings across oncology, rare disease, vaccines, autoimmune, and neurology, with recent investments including Ethyreal Bio ($101M, June 2026), Whitehawk Therapeutics ($87.5M PIPE, May 2026), Hemab Therapeutics ($157M Series C, October 2025), and Ottimo Pharma ($140M+ Series A, December 2024). Realized exits include Vicebio (acquired by Sanofi for $1.6 billion) and Vividion Therapeutics (acquired by Bayer for $1.5 billion upfront plus up to $500 million in milestones).

The business model is a subscription/recurring investment management fee structure, charging management fees on investor capital committed across its funds, supplemented by performance fees on realized gains, in line with conventional hedge fund and venture capital economics. The firm does not publicly disclose fees or revenue. Distribution is conducted through direct investor relations led by a Head of Investor Relations & Marketing with prior experience at Jennison Associates, Gotham Asset Management, and Goldman Sachs Asset Management, targeting institutional and qualified investors globally. Customer concentration (LP base) and revenue figures are not publicly disclosed.

Name

Avoro Capital Advisors

Legal name

Avoro Capital Advisors

Website

https://avorocapital.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Avoro Capital Advisors is a global, SEC-registered life sciences investment firm managing over $4.5 billion across public equities and private venture (via Avoro Ventures) for institutional investors, focused on pre-clinical to commercial-stage biotechnology companies.

Ownership category

akta.pro rank

Product category

Life Sciences Investment Management

NAICS

Portfolio Management and Investment Advice (52394), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)

akta.pro secondary industries

Corporate Finance & Capital Advisory (BPAHADAB), Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC)

Keywords

• Life sciences investment
• Biotechnology venture capital
• Biopharmaceutical investments
• Healthcare investment management
• Venture capital funds

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Investment Management Fees: Avoro Capital Advisors generates revenue through management fees charged to investors in its funds, typical of hedge fund and investment advisory structures.

Distribution channels1 record

Marketing channels2 records

Core offering

Avoro Capital Advisors is an SEC-registered global life sciences investment firm that manages capital across both public and private markets, supporting emerging biotechnology companies from pre-clinical through commercial stages. The firm manages over $4.5 billion in capital primarily focused on biotechnology and biopharmaceutical innovation, with a dedicated venture capital arm (Avoro Ventures) operating an inaugural $186 million fund for private biotech investments.

Product overview

Avoro Capital Advisors operates as a global life sciences investment firm with two primary offerings: (1) Avoro Capital Advisors, the flagship investment management platform providing venture and growth equity investment management across public and private markets for biotechnology companies ranging from pre-clinical to commercial stages, managing over $5.4 billion in capital; and (2) Avoro Ventures, the dedicated venture capital arm that makes private biotech investments through its inaugural $186 million fund (Fund L.P.), focused on life sciences innovation.

Differentiator

Problem solved

Functional benefit

Products and services

• Avoro Capital Advisors SEC-registered investment manager providing life sciences investment management across public and private markets, supporting emerging biotechnology companies from pre-clinical to commercial stages. Manages over $4.5 billion in capital focused on biopharmaceutical innovation.
• Avoro Ventures Dedicated venture capital arm of Avoro Capital focused on private biotech investments, with $186 million in inaugural fund commitments (Avoro Ventures Fund L.P.), investing in early-to-late stage life sciences companies.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• RA Capital Management: Boston-based healthcare and life sciences-focused investment manager operating a crossover fund (public + private) plus a dedicated venture arm. Closely comparable in dual-platform structure, life sciences concentration, and AUM scale tier to Avoro Capital.
• Baker Bros. Advisors: Long-running biotech-specialist investment manager that invests across public equities and private biotech companies with a deeply scientific team. Highly comparable to Avoro in mandate, life sciences focus, and long/short + venture dual platform, though materially larger in AUM.
• OrbiMed Advisors: One of the largest healthcare-dedicated investment firms globally, with public and private equity, venture, royalty, and credit strategies across the life sciences stack. Directly comparable to Avoro in sector focus and breadth of healthcare investment capabilities, with substantially greater scale.
• Perceptive Advisors: Healthcare and biotechnology-focused investment firm running a long/short equity strategy with a private ventures arm. Comparable to Avoro in life sciences specialization, crossover structure, and founder-led culture.
• Cormorant Asset Management: Boston-based, life sciences-focused investment manager with a public long/short strategy and selective private investments. Directly comparable in sector concentration, team profile (scientifically trained), and crossover approach.
• venBio Partners: Life sciences venture capital firm investing in biotech companies, historically affiliated with the predecessor of Avoro Capital (venBio Select Advisor). Closely comparable mandate and team lineage; co-invested with Avoro in the Vicebio Series B.
• Atlas Venture: Early-stage life sciences venture capital firm that co-led Ethyreal Bio's Series A/B with Avoro. Highly comparable as a sector specialist, but focused on company formation/Series A rather than the crossover public + private platform Avoro runs.
• Boxer Capital: Biotech-focused long/short public equity manager with selective private investments. Comparable to Avoro in life sciences mandate and crossover structure, similar AUM tier.
• EcoR1 Capital: Biotech-specialist investment firm founded by a former biotech buy-side analyst, focused on public equities with selective private investments. Comparable crossover life sciences strategy and scientific orientation.
• BVF Partners (Biotech Value Fund): Long-running biotech-focused investment manager with a public long/short strategy and selective private investments. Comparable life sciences concentration and crossover structure to Avoro Capital.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/venbio-select-advisor

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments21 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Avoro Capital Advisors