How early-stage VCs are adjusting in a bear market

The data don’t yet show that the pummeling of the public markets is translating into a slowdown in venture financings, but life sciences VCs are putting more emphasis on building early-stage syndicates that can finance a company through multiple rounds.

In times where there is an abundance of capital, such as in 2020, private biopharmas are not only able to raise large series A rounds from dedicated early-stage VCs, but they often add new investors at series B that have deep pockets and mandates to invest across the public and private markets...