Biotech
Culture
Invest with RA Capital
Performance backed by science: RA Capital is evidence-based investing.
RA Capital maps innovation landscapes, challenges theses through rigorous analysis, and supports science-led companies from seed to commercialization. Our multi-stage investment strategies capture value across the innovation lifecycle with disciplined risk management rooted in domain expertise.
Research
Deep market intelligence drives every decision.
TechAtlas is RA Capital’s knowledge engine and the foundation of our evidence-based approach. Our team of MDs and PhDs maps hundreds of disease and technology landscapes, has diligenced 9,000+ companies and thousands of molecules.4 Our proprietary intelligence platform identifies opportunities and spots risks before others recognize them.
Our Investment Strategy
Multi-stage capital, full-lifecycle impact.
RA Capital invests across the entire innovation lifecycle - from NewCo creation through seed, venture, crossover, IPO, and public markets. Our flexible capital solutions enable us to support companies through every milestone and opportunity.
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NewCo origination
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Seed
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Series A, B, C
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Crossover financing
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IPO
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Public markets
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Structured capital/debt
Industry-specific investment strategies
Our evidence-led, science-first approach combines deep domain expertise with financial rigor to give our investors access to a diversified portfolio of companies pursuing breakthrough innovation. Our research infrastructure and operational capabilities identify potential winners and help them execute. We don’t chase momentum; we create it.
Healthcare investing
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Early-stage & venture
RA Capital identifies the science that can transform health outcomes and provides capital to advance it. Our venture investments benefit from TechAtlas diligence and Raven's operational support.
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Later-stage / privates & publics
RA Capital’s multi-stage structure allows us to scale commitment as conviction grows. We lead crossover rounds, anchor IPOs, and maintain public positions.
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Structured capital
RA Capital’s Structured Capital team provides flexible financing to fuel growth, accelerate product launches, and support strategic initiatives.
Planetary health investing
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Planetary health early-stage & venture
RA Capital applies its evidence-based process to planetary health, helping companies with product-market fit and short time-to-market commercialize scalable, profitable solutions that reduce emissions, increase resource availability, or restore environmental quality.
Portfolio highlights
Biotech
Policy
Finance
Cidara Therapeutics
Biotech
Policy
Finance
Cidara Therapeutics
Biotech
Science
Culture
Biotech
Culture
Finance
Finance
Policy
Science
Planetary
Biotech
Finance
Policy
Biotech
Finance
Planetary
Scientists who invest. Investors who understand science.
RA Capital’s investment team combines deep scientific training with proven investing and risk management experience. Managing Partners Peter Kolchinsky and Rajeev Shah have worked together for over two decades, building a collaborative culture where PhDs and MDs debate clinical data and market dynamics. RA Capital’s integrated approach—where research and investment teams jointly originate conviction—makes ‘evidence-based investing’ more than a slogan.
Peter Kolchinsky, PhD
Managing Partner
Rajeev Shah
Managing Partner
Laura Stoppel, PhD
Partner
Josh Resnick, MD
Partner
Jake Simson, PhD
Partner
Zach Scheiner, PhD
Partner
Matt Hammond, PhD, MBA
Partner
Derek DiRocco, PhD
Partner
Jeremy Lack, DPhil
Partner
Kyle Teamey
Managing Partner
Investment approach FAQs
All information presented here is accurate as of 12/31/2025.
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Three things set RA Capital apart: our science-first, evidence-led orientation, our multi-stage investment platform, and our company-building capabilities.
Science-first approach: Our team includes 75+ scientific PhDs and MDs with deep biological expertise. Our internal knowledge engine, TechAtlas, maps therapeutic landscapes, identifies gaps in standards of care, and identifies where innovation is most likely poised to transform treatment.
Multi-stage investing: RA Capital invests from pre-seed through public markets and beyond. This flexibility means we are well positioned to lead private rounds, take companies public, and provide follow-on financing. We aim to help companies stay well-capitalized through inflection points so management teams can focus on value creation, not fundraising.
Company building: RA Capital offers a variety of proprietary company-building services to our portfolio companies. In addition, through Raven, our healthcare incubator and company-building platform, we don’t just fund companies, we can create them. Raven is built to originate ideas around promising science, accelerate development, and unlock value underleveraged pharma assets, in addition to partnering with founders to build companies from scratch.
This integrated approach enables us to invest with conviction in complex scientific opportunities and contribute meaningfully throughout a company’s lifecycle.
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RA Capital uses a rigorous, science-first, evidence-based investment process grounded in biological and clinical understanding. This means we start by mapping scientific, clinical, and competitive data to identify where real breakthroughs could change treatment paradigms.
Potential considerations might include:
Biological and clinical plausibility: Does the science support the mechanism? We dig into whether the biology makes sense, not just whether the story sounds good.
Evidence depth: What data exist, and how credible and predictive are the data? Our TechAtlas team contextualizes detailed data across 5,000+ companies and thousands of drugs.
Development complexity and competitive risk: What are the key unknowns, timelines, and potential inflection points for any given program, in the context of its competitive field? We assess where uncertainty sits, how much capital and time it takes to address it, and monitor potential competitors.
Long-term value potential: How much impact can be created from current state to commercialization? We focus on meaningful innovation that can reach patients.
This discipline allows us to evaluate investments from first principles rather than following tactical market trends, providing clarity on where capital is most likely to create enduring value.
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Planetary Health is a differentiated investment strategy and team at RA Capital Management. “Planetary Health” is RA Capital’s term for the industrial and resource systems that underpin modern economies and quality of life – everything from how we extract and process critical minerals, to how we generate and distribute energy, to how we produce food and manage waste.
Our Planetary Health team is a dedicated group with deep expertise that invests in high-growth companies making these foundational systems more productive, more efficient, and more economically competitive; companies advancing resource availability, energy innovation, and industrial productivity.
We focus on early-stage companies with clear paths to commercialization within 2 – 5 years.
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RA Capital is a multi-stage healthcare and life sciences investor with an independent, dedicated Planetary health team focused on early-stage and venture opportunities.
At all times and at any stage, RA Capital works to create value for our portfolio companies.Pre-seed and seed: Funding company formation and early validation, including companies we create through our Raven healthcare incubator.
Series A – C and beyond: Leading or participating in venture financings.
Private and public markets: Taking companies public and financing late-stage development.
Commercial-stage structured capital: Credit-oriented investments for revenue-generating companies.
We focus on development-stage biotech and life science companies where scientific and clinical evidence can be rigorously assessed. For planetary health, we focus on early-stage companies with clear paths to commercialization within 2 – 5 years. Investment decisions prioritize the quality of evidence and long-term value creation, not arbitrary stage constraints.