Investor profile
RA Capital Management
VC
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RA Capital Management is a multi-stage investment manager dedicated to evidence-based, science-first investing in public and private healthcare, life sciences, and planetary health companies developing drugs, medical devices, diagnostics, services, and research tools. The firm's portfolio spans the globe and most therapeutic areas across all stages from discovery through commercialization. Three pillars differentiate RA Capital: a science-first approach backed by 65+ scientific PhDs and MDs and the proprietary TechAtlas internal research division that maps therapeutic landscapes; a multi-stage platform investing from pre-seed through public markets; and company-building capabilities via Raven, its healthcare incubator, which originates ideas, forms companies from scratch, and partners with founders to unlock underleveraged pharma assets. As stated on their FAQ: 'What matters more than headline valuation is how much value remains to be created… We focus on the magnitude of the opportunity and the probability of capturing it, not arbitrary valuation cutoffs.'
Notable quotes
“Rich [Aldrich] told us that when you go to a conference, you'll often see two biotech companies: one to the left with investors flooding around it, and the other on the right with no one there. Go right. That is where you find something that might be irrationally unappreciated and inefficiently priced. Peter and I took that to heart, and it is part of our ethos.”
“This fund represents a natural evolution of our mission to back transformational science and technology to improve human wellbeing. By applying the same rigorous, evidence-based approach to the planetary health space under Brigid's and Kyle's leadership, our team can help build enduring companies that address global challenges while delivering strong returns.”
“We originate conviction. We do not borrow it from others. We've invested as early as pre-seed (even helping form companies from scratch through Raven)… What matters isn't the stage label – what matters is whether the science is compelling, the evidence supports the approach, and the path to meaningful impact is credible.”
Team
Rajeev Shah
Managing Partner
Derek DiRocco
Partner
Matthew Hammond
Partner
Josh Resnick
Partner
Andrew Levin
Partner
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| ARS Pharma | Structured Debt / Term Loan | $250m | 2025-09-29 |
| Sparrow Therapeutics | Series B | $95m | 2025-09-01 |
| Angitia Biopharmaceuticals | Series D | $130m | 2026-02-05 |
| Ascendis Pharma | Public (follow-on) | — | — |
| Blueprint Medicines | Series B / IPO | — | — |
| Biohaven Pharmaceuticals | Series A / IPO | — | — |
| Bluebird Bio | Series B / IPO | — | — |
| Carmot Therapeutics | Series B | — | — |
| C4 Therapeutics | Series A / IPO | — | — |
| Frontier Medicines | Series B | — | — |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| OrbiMed | 12 |
| Bain Capital Life Sciences | 10 |
| Perceptive Advisors | 9 |
| Atlas Venture | 8 |
| RTW Investments | 7 |
| Deerfield Management | 6 |
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