U.S. biotechs capture 68% of global VC funding since 2025, led by Bay Area and Boston

Since the start of 2025, U.S. biopharma firms have secured $37.2 billion in venture capital, representing about 68 % of the $54.5 billion raised worldwide.

The San Francisco Bay Area and Boston dominate U.S. funding, pulling in $12.8 billion and $10.2 billion respectively, together accounting for roughly 62 % of domestic capital across seven quarters.

Other U.S. clusters such as San Diego, Philadelphia and the Research Triangle contributed a combined $5.2 billion, reinforcing the concentration of investment in established ecosystems.

In Europe, venture capital totals $9.2 billion, with the United Kingdom leading at $3.1 billion, followed by Switzerland, France and Germany.