Vivo Capital is a global investment firm based in Palo Alto, California, exclusively focused on healthcare and life sciences. Founded in 1996, the firm operates a multi-fund platform spanning venture capital, growth equity, buyouts, and public market investments. With approximately $5.3 billion in regulatory assets under management and over 430 investments across both public and private markets, Vivo is one of the most established players in healthcare investing worldwide. The firm has a global presence with offices in the U.S. and Asia, and a team of more than 75 professionals with deep scientific, clinical, and financial expertise.
Vivo Capital invests in innovative life sciences and healthcare companies developing novel therapeutics, medical technologies, and services.
Through its public fund - Vivo Opportunity Fund - the firm targets small- and mid-cap life sciences companies in preclinical and clinical stages, with a specific focus on those advancing therapies for unmet medical needs.
Vivo’s strategy combines rigorous scientific diligence with milestone-based investing to capture upside from regulatory approvals, clinical progress, and strategic acquisitions.
The firm’s investment targets span biotechnology, pharmaceuticals, and select areas of medical devices and diagnostics.
In May 2025, Vivo Capital announced the close of the third cycle of its Vivo Opportunity Fund and affiliated vehicles, with over $740 million in capital commitments.
The Vivo Opportunity Fund is structured as an evergreen fund with three-year investment cycles, and the third cycle will continue the firm’s disciplined strategy of backing clinical-stage life sciences companies positioned for value inflection.
The fund invests in public and crossover-stage companies, particularly those on the cusp of significant regulatory or clinical milestones. With deep internal scientific capabilities and a track record of identifying high-impact therapies, Vivo uses the fund to capitalize on public market inefficiencies in healthcare.
This strategy allows the firm to generate returns not just from fundamental company growth but also from value creation around FDA approvals, breakthrough designations, and high-profile M&A activity.
Leadership
Vivo’s multidisciplinary team includes physicians, scientists, operators, and investment professionals, allowing the firm to engage with portfolio companies as partners, not just financiers.
With offices in Asia and the U.S., Vivo Capital is uniquely positioned to support companies seeking to navigate global regulatory paths, cross-border commercialization, or strategic M&A. The firm’s evergreen public strategy offers flexibility, while its long-term track record gives LPs confidence across market cycles.
Notable Investments
Recent public fund investments include:
These companies illustrate Vivo’s focus on supporting clinical-stage companies at critical junctures of product development and commercialization.
Notable Exits
Vivo-backed companies have been acquired by some of the largest pharmaceutical companies in the world, including:
These exits reflect Vivo Capital’s ability to identify and support clinical-stage assets that become highly strategic acquisition targets.
Phone numbers
Palo Alto: (+1) 650 688 0818
Singapore: (+65) 6818 6198
Hong Kong: (+852) 3529 1820
Beijing: (+86) 10 5764 2288
Shanghai: (+86) 21 6888 0039
Taipei: (+886) 2 2378 2268
