Ascenta Capital closes $325 million debut biotech fund

10 October 2025

US venture firm Ascenta Capital has closed its inaugural fund at $325 million, marking a significant milestone two years after its founding by former Moderna (Nasdaq: MRNA) executives Lorence Kim and Evan Rachlin. The firm is focused on early-stage human trials for companies developing multi-medicine therapeutic platforms.

“Ascenta pursues an intentionally selective investment strategy founded on deep relationships,” said Mr Rachlin, a managing partner. “By focusing on a small number of exceptional biotechs, we can concentrate our thought-partnership on clinical, regulatory, manufacturing, scientific, and capital strategy.”

Ascenta has already committed over $100 million to six companies running 14 clinical trials and advancing more than 40 programs. Its portfolio spans ADARx Pharmaceuticals, Iambic Therapeutics, Odyssey Therapeutics, Cardurion Pharma, OrsoBio, and Alpha9 Oncology. Investors in the fund include family offices, endowments, foundations, and high-net-worth individuals.

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