Vivo Capital
Vivo Capital describes a multi-strategy platform focused exclusively on healthcare and life sciences. Its private equity activities include growth capital and buyouts, including situations where a controlling stake can be acquired.
What stands out about Vivo Capital
Vivo Capital evaluates healthcare and life-science opportunities across growth capital, buyout, venture, and public equity strategies. Its stated focus includes biopharmaceuticals, medical devices, healthcare services, and other life-science segments, with global investment activity.[1][2][3][4][6]
What does Vivo Capital invest in?
Vivo Capital describes itself as a global healthcare specialist with a multi-strategy platform covering venture capital, private equity, and public equity strategies. The firm was founded in 1996, with its predecessor formed in Palo Alto by Frank Kung and Edgar Engleman.
Current official materials report approximately $7bn of capital actively managed across multiple strategies and affiliated funds, more than 460 public and private company investments, and a team of more than 70 multidisciplinary professionals.[1][2][6]
Vivo’s private equity strategy focuses on the operational and commercial scale-up of companies with attractive growth prospects. Its growth capital strategy provides capital at critical company lifecycle stages.
The buyout strategy targets situations such as leveraged buyouts, management buyouts, spin-offs, and restructurings where a controlling stake can be acquired. Vivo also operates venture capital and public-equity strategies; its public-equity strategy primarily invests in global public equities of small- and mid-cap biotechnology, pharmaceutical, healthcare, and life-science companies.[1][3]
Owners evaluating a financial buyer can compare the offer with independent valuation analysis, understand how acquirers approach transactions through Auxo’s buy-side M&A process guide, and consider whether a full or partial sale best fits their objectives.
What should a business owner evaluate before considering a transaction with Vivo Capital?
Owners considering a capital partnership or sale can ask which current fund and strategy would evaluate the opportunity, whether the relevant approach is growth capital or a controlling buyout, and how the company’s healthcare or life-science activities fit the applicable mandate.
Because the official investment-strategy page does not state universal investment thresholds, valuation ranges, ownership percentages, or expected holding periods, owners should confirm those points directly. Other diligence topics include rollover requirements, governance rights, management incentives, financing expectations, exit objectives, and the anticipated diligence timetable.[3][4]
What are the minimum and maximum equity checks, enterprise-value or revenue ranges, and preferred ownership percentages
Does Vivo seek control, minority, or structured investments for this type of company
What companies does Vivo Capital target?
The stated private equity approach includes companies with attractive growth prospects and situations where a controlling stake can be acquired. Growth capital is directed to critical company lifecycle stages.
The official investment-strategy page does not state a universal minimum or maximum investment size, revenue threshold, EBITDA threshold, valuation range, or required ownership percentage. Company-specific criteria may therefore need to be confirmed for the relevant strategy and fund.[3]
Vivo invests broadly across healthcare and life sciences, including biopharmaceuticals, medical devices, healthcare services, and other life-science segments. The firm’s public-equity strategy specifically targets small- and mid-cap biotechnology, pharmaceutical, healthcare, and life-science companies.[3][4]
Vivo states that it invests globally and has invested in more than 460 healthcare companies across multiple geographies. Its public offices are located in Palo Alto, Singapore, Hong Kong, Beijing, Shanghai, and Taipei. The portfolio page identifies investments across North America, Asia, and Europe.[2][4][5]
Growth capital provides capital at critical company lifecycle stages, while the buyout strategy addresses leveraged buyouts, management buyouts, spin-offs, and restructurings where a controlling stake can be acquired.
The sources cited for this profile do not establish a separate add-on acquisition policy or standardized platform-versus-add-on criteria.[3]
Vivo’s official portfolio page lists active and selected investments across North America, Asia, and Europe and across biopharm, medical devices, services, and other life sciences. Named companies include Ajax Therapeutics, Dominique Dutscher, Oricell Therapeutics, Scientia Vascular, Terns Pharmaceuticals, and Zenas Biopharma.[4]
Vivo’s official news archive lists the acquisition of Dutscher Group, dated July 1, 2026, and Full-Life Technologies’ US$150 million financing led by Vivo Capital, dated May 18, 2026.
The archive also lists Lilly’s announced $2.3 billion acquisition of Ajax Therapeutics, dated April 27, 2026; Vivo’s co-lead role in Oricell Therapeutics’ financing round in excess of $110 million, dated April 10, 2026; and Medtronic’s announced $550 million acquisition of Scientia Vascular, dated March 10, 2026.[7]
What is not clear from Vivo Capital's public investment criteria?
The official investment-strategy page does not state a universal minimum or maximum investment size, revenue threshold, EBITDA threshold, valuation range, or required ownership percentage. That page also does not explicitly state an expected investment holding period, ownership duration, or standard exit timing.
The official portfolio page does not publish transaction consideration, investment amount, ownership percentage, financing terms, or complete entry and exit dates for each listed company.[3][4]
Questions to ask when evaluating Vivo Capital as a buyer or investment partner
Which current fund and strategy would evaluate the opportunity?
What are the minimum and maximum equity checks, enterprise-value or revenue ranges, and preferred ownership percentages?
Does Vivo seek control, minority, or structured investments for this type of company?
What healthcare subsectors and geographies are current priorities?
How does Vivo define its value-creation and operating support?
What are the expected hold period, exit objectives, rollover requirements, governance rights, management incentives, financing expectations, and diligence timetable?
Sources & research notes
- Official website / firm overview
- Official website / firm overview
- Investment strategy
- Industry / market focus
- Geography / market coverage
- Transaction size / criteria
- Transaction / portfolio evidence
- SEC filing / regulatory record
- SEC filing / regulatory record
How this profile was researched
Auxo profiles are prepared from publicly available primary and authoritative sources and reviewed for entity identity, factual support and disclosure consistency. When a fact cannot be supported by the reviewed public record, the profile identifies it as something to confirm directly rather than inferring it.
Independent research profile
This profile was prepared by Auxo Capital Advisors from publicly available information believed to be reliable and is provided solely for informational and educational purposes. It is not an endorsement, recommendation, ranking, solicitation, or representation regarding the profiled firm, its services, qualifications, transaction experience, regulatory status, financial condition, or suitability for any particular person, company, transaction, or investment.
Information obtained from third-party and public sources may be incomplete, inaccurate, outdated, or subject to change, and Auxo Capital Advisors makes no representation or warranty, express or implied, as to its accuracy, completeness, or timeliness. Readers should conduct their own independent diligence and consult appropriate professional advisers before engaging any advisor, intermediary, investor, lender, acquirer, or other transaction counterparty.
Broker-dealer and securities disclosure
Auxo Capital Advisors is an affiliate of Weild & Co., Member FINRA | SIPC. Securities-related activities and securities transactions are conducted through Weild & Co.
Nothing contained on this page constitutes an offer to sell, an offer to purchase, or a solicitation of an offer to buy or sell any security, investment product, or financial instrument. Nothing on this page constitutes investment advice, a recommendation regarding any security, or a recommendation to enter into any transaction with the profiled firm or any other party.
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Inclusion of a third-party firm in this directory does not imply affiliation with, sponsorship by, endorsement by, or any other relationship with Auxo Capital Advisors or Weild & Co. unless expressly stated otherwise.