Funding round
Cerevel Growth
Reported as "Growth Equity"
Cerevel, which works in pharmaceutical research and development in Cambridge, raised $350M in a Growth round announced on 23 Oct 2018, led by Bain Capital Private Equity. 3 firms took part. It is Cerevel's first venture round on record.
$350M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Cerevel did not disclose a valuation in this round. It is Cerevel's first venture round on record, in the year it was founded (2018). It is 38% of the $915M Cerevel has raised in the venture rounds on record. Cerevel raised again 24 months later: a Growth round of $440M in Oct 2020.
Investors
Who put money in
Bain Capital Private Equity led the round with 2 other firms.
Lead investor
- backs 8 venture-backed companies new investor
Also in the round
- Bain Capital Life Sciences new investor
- backs 70 venture-backed companies
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
13 Growth rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $60M, and this round was 5.8 times the median. The closest in time, other companies' Growth rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pharmaceutical Products | 17 Sep 2018 | $4.2M | not disclosed | NVM Private Equity |
| Pharmaceutical Products | 23 Aug 2018 | undisclosed | not disclosed | Capricorn Partners |
| Pharmaceutical Products | 8 Jan 2019 | $160M | not disclosed | not named |
| Pharmaceutical Products | 21 Jan 2019 | $31M | not disclosed | not named |
| Pharmaceutical Products | 26 Jun 2018 | $40M | not disclosed | ShangPharma Innovation |
| Pharmaceutical Products | 19 Jun 2018 | $6.6M | not disclosed | BGF |
| Pharmaceutical Products | 28 Mar 2018 | $61M | not disclosed | not named |
| Pharmaceutical Products | 14 Feb 2018 | $60M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Cerevel raise in its Growth round?
Cerevel raised $350M in its Growth round, announced in Oct 2018.
Who led Cerevel's Growth round?
Bain Capital Private Equity led it, with Bain Capital Life Sciences and Bain Capital.
What was Cerevel's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Pharmaceutical Products?
13 Growth rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $60M, and this round was 5.8 times the median.
Did Cerevel raise again after this round?
Yes: a Growth round in Oct 2020 of $440M.