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RA Capital Management is a multi-stage investment manager founded in 2004 by Richard Aldrich and Peter Kolchinsky in Boston, Massachusetts. The firm has grown to manage approximately $12.6 billion in assets under management (AUM) and employs around 170 professionals. RA Capital focuses on investing in both public and private healthcare and life sciences companies, providing capital across all stages of development, from seed funding to public follow-on financings.
Over the years, RA Capital has established a significant presence in the venture capital landscape, particularly in the healthcare sector. The firm has built a diverse portfolio of 543 companies, achieving over 128 exits through IPOs or acquisitions. Notable milestones include the successful launch of the Planetary Health Fund, which targets critical minerals and energy solutions, and the development of the TechAtlas research division, which enhances their investment decision-making process.
RA Capital Management employs an evidence-based investing approach, primarily targeting healthcare and life sciences sectors. Their investment strategy encompasses a wide range of therapeutic areas, including drug discovery, oncology, infectious diseases, autoimmune conditions, gene therapies, medical devices, and diagnostics. The firm invests globally, with a particular emphasis on North America, and engages in funding across various stages, including Seed, Series A, Series B, Series C, Series D, and Growth Equity.
The check size for investments ranges from $500,000 to $75 million, allowing RA Capital to support both early-stage startups and more established companies. The firm seeks to partner with innovative founders who are developing groundbreaking solutions in healthcare and life sciences, providing not only capital but also board-level strategic guidance and access to their proprietary research platform, TechAtlas.
RA Capital Management's portfolio includes a diverse array of companies, particularly in the healthcare and life sciences sectors. Notable companies in their portfolio include:
RA Capital has achieved significant success with over 128 exits via IPO or acquisition, showcasing their ability to identify and nurture high-potential companies in the healthcare sector.
Peter Kolchinsky, PhD: Managing Partner with a background as a co-founder of Vertex Pharmaceuticals. He has extensive experience in biotech investments and strategic development.
Rajeev Shah: Managing Partner known for his expertise in healthcare investments and operational strategy.
Derek DiRocco, PhD: Partner with a focus on life sciences and drug development, bringing a strong scientific background to the team.
Matthew Hammond, PhD, MBA: Partner with experience in both investment and operational roles within the biotech sector.
Jeremy Lack, DPhil: Partner specializing in healthcare investments, with a focus on evidence-based strategies.
Dann Huh, PhD: Senior Director of Genomic Target Validation, contributing expertise in genomics and biotechnology.
Walter Dauksher: Associate involved in strategic initiatives, supporting the firm's investment strategies.
Chris Morrison: Editor responsible for content and communications within the firm.
Jeff Breay: Head Trader managing trading operations and investment strategies.
Jonathan Pritz, PhD: Investment Director with a focus on evaluating and managing investments in the healthcare sector.
To pitch RA Capital Management, startups should visit their website at racap.com/venture. The pitch deck should include a comprehensive overview of the business, including the problem being solved, the solution offered, market analysis, and team qualifications. Response times may vary, but founders are encouraged to follow up if they do not receive a timely response.
RA Capital Management operates several initiatives to support its investment strategy. The TechAtlas research division provides market intelligence and technical diligence, enhancing the firm's investment decisions. Additionally, the Raven incubator collaborates with drug hunters and company builders to explore innovative healthcare solutions.
On June 25, 2025, RA Capital Management made its latest investment, continuing its trend of active engagement in the healthcare and life sciences sectors. Over the past 12 months, the firm has completed 12 investments, further expanding its portfolio of innovative companies.
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What are RA Capital Management's investment criteria?
RA Capital focuses on healthcare and life sciences companies at various stages, from seed to growth equity. They seek innovative solutions in drug development, medical devices, diagnostics, and research tools.
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How can startups apply or pitch to RA Capital?
Startups can pitch to RA Capital through their website at racap.com/venture. They recommend including detailed information about the business model, market opportunity, and team in the pitch deck.
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What makes RA Capital different from other venture firms?
RA Capital's evidence-based investing approach, combined with their proprietary research platform, TechAtlas, allows them to make informed investment decisions and provide strategic guidance to portfolio companies.
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What is the geographic scope of RA Capital's investments?
RA Capital invests globally, with a strong focus on North America and the United States.
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What is the typical check size for investments?
RA Capital typically invests between $500,000 and $75 million in their portfolio companies.
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