About Boxer Capital
Boxer Capital is a venture capital firm founded in 2005. It is primarily based out of San Diego, United States. As of Jun 2026, Boxer Capital is an active investor, having invested in 82 companies, with 2 new investments in the last 12 months. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from Life Sciences to High Tech and Enterprise Applications. Most recently it participated in the $***** Series C round of Flare Therapeutics Overall, Boxer Capital portfolio has seen 40 IPOs and 22 acquisitions including key companies like BeiGene, Ideaya Biosciences and Syndax. A lot of funds co-invest with Boxer Capital, with names like RA Capital Management sharing a substantial percentage of its portfolio. Boxer Capital has team of 9 people including 5 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B, Series C & 3 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Soonicorns
Deals in last 12 months
Boxer Capital's List of Top Investments
Boxer Capital has a portfolio of 82 companies. Their most notable investments are in Black Diamond Therapeutics and CiVi Biopharma.Their portfolio spans across United States, United Kingdom, Belgium and 5 more locations. They have invested in Life Sciences, High Tech, Enterprise Applications and 3 other sectors, across stages such as Series B, Series C and 3 more. Here is the list of top investments by Boxer Capital:
1. BeiGene
Developer of targeted and immune-oncology drugs against cancer. The company's product pipeline includes oral small molecule inhibitors and monoclonal antibodies, such as BGB-3111, an oral inhibitor of Bruton tyrosine kinase, BGB-283, a B-RAF inhibitor; and BGB-290, a poly (ADP-ribose) polymerase inhibitor. Also, has another candidate BGB-108, a potentially differentiated PD-1 monoclonal antibody candidate.
Key facts about BeiGene
- Founded Year: 2010
- Location: Cambridge (United States)
- Annual Revenue: $1B+ as on Dec 31, 2024
- Stage: Public
- Total Funding till date: $172M
- Employee Count: 2,000 as on May 31, 2026
- Investors: T. Rowe Price, Boxer Capital and 13 Others
- Latest Funding Round: Post IPO, Jul 15, 2020, $*****
- Highlight: Public
Developer of oncology-focused precision medicine using molecular diagnostics. The lead candidate IDE196 is a protein kinase C an inhibitor for genetically defined cancers having GNAQ or GNA11 gene mutations. Others include PARG, WRN, poltheta, Darovasertib, and others.
Key facts about Ideaya Biosciences
- Founded Year: 2015
- Location: San Francisco (United States)
- Annual Revenue: $100M - $500M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $157M
- Employee Count: 283 as on Sep 30, 2026
- Investors: BVF Partners, Boxer Capital and 15 Others
- Latest Funding Round: Post IPO, Aug 04, 2020, $*****
- Highlight: Public
3. Syndax
Developer of targeted therapies for the treatment of cancer. The company is developing entinostat as a combination therapy in multiple cancer indications with an initial focus on tumors that have shown sensitivity to immunotherapy, including lung cancer, melanoma and triple negative breast cancer.
Key facts about Syndax
- Founded Year: 2005
- Location: Waltham (United States)
- Annual Revenue: $100M - $500M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $198M
- Employee Count: 330 as on Aug 31, 2026
- Investors: Boxer Capital, ArrowMark Partners and 19 Others
- Latest Funding Round: Post IPO, Jan 31, 2020, $*****
- Highlight: Public
Nurix provides the platform for controlling the body natural protein level and regulation. It offers its candidate ubiquitin E3 ligases which helps in treating a broad range of disease by the breakdown of protein in the cell. The many pipelines if the company includes, CBL -B, BTX which are at the preclinical and other prior stages of approval. It also focus in developing the drug for treatment of cancer, small molecule, immunoncology agents and others.
Key facts about Nurix Therapeutics
- Founded Year: 2009
- Location: San Francisco (United States)
- Annual Revenue: $50M - $100M as on Nov 30, 2025
- Stage: Public
- Total Funding till date: $173M
- Employee Count: 381 as on Aug 31, 2026
- Investors: Bain Capital Life Sciences, Foresite Capital and 9 Others
- Latest Funding Round: Series B, Mar 26, 2020, $*****
- Highlight: Public
Developer of selective kinase inhibitors for patients with genomically defined cancers. Their approach is rooted in a deep understanding of the genetic blueprint of cancer and other diseases driven by the abnormal activation of kinases. Their ability to identify novel drivers of disease, coupled with our proprietary library of novel and diverse chemical compounds, uniquely enables us to craft kinase therapies against new and difficult-to-drug targets.
Key facts about Blueprint Medicines
- Founded Year: 2008
- Location: Cambridge (United States)
- Annual Revenue: $500M - $1B as on Dec 31, 2024
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $115M
- Employee Count: 692 as on Aug 31, 2026
- Investors: BVF Partners, Foresite Capital and 20 Others
- Latest Funding Round: Post IPO, Jun 30, 2022, $*****
- Highlight: Acquired
Boxer Capital's Year-on-Year Investment Trends
Boxer Capital has invested in 82 companies over the last 12 years, with an average of 7 new investments annually in the last 10 years. In 2025, it made 1 investment, while as of Jun 2026, it has made 3 investments in this year. Its most recent first time investment was in Adial Pharmaceuticals and most recent follow-on round was in Flare Therapeutics.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 2 | 3 |
2025 | 1 | 0 | 1 |
2024 | 6 | 3 | 9 |
2023 | 2 | 2 | 4 |
2022 | 6 | 2 | 8 |
2021 | 13 | 4 | 17 |
2020 | 19 | 2 | 21 |
2019 | 11 | 1 | 12 |
2018 | 7 | 0 | 7 |
2017 | 2 | 0 | 2 |
Boxer Capital's Investments by Stage
Boxer Capital has made 25 investments in Series B stage with an average round size of $92.5M, 18 investments in Series C stage with an average round size of $92.5M, 17 investments in Series A stage with an average round size of $107M, 10 investments in Post IPO stage with an average round size of $109M and 4 investments in Series D stage with an average round size of $147M.Stage of entry | No. of Investments |
|---|---|
Series B | 25 |
Series C | 18 |
Series A | 17 |
Post IPO | 10 |
Series D | 4 |
Note: We have considered here, only first round of investments
Boxer Capital's Investments by Sector
Boxer Capital has a diverse portfolio, with companies operating in the Life Sciences, High Tech, Sustainability Tech, Consumer and Enterprise Applications. Notably, it has invested in 78 Tech companies, 76 Enterprise (B2B) companies, 6 Software companies and at least 1 company focusing on AI-Native.Sector | No. of Investments |
|---|---|
Life Sciences | 72 |
High Tech | 7 |
Sustainability Tech | 3 |
Consumer | 2 |
Enterprise Applications | 2 |
Others | 3 |
Note: We have considered here, only first round of investments
Boxer Capital's Investments by Geography
Boxer Capital has made most investments in United States (67), followed by United Kingdom where it has made 3 investments.Country | No. of Investments |
|---|---|
United States | 67 |
United Kingdom | 3 |
Belgium | 1 |
Canada | 1 |
China | 1 |
Others | 3 |
Note: We have considered here, only first round of investments
Boxer Capital's recent investments
Boxer Capital has made 3 investments in 2026 so far. Flare Therapeutics and Adial Pharmaceuticals are the latest among them.Here are the most recent investments by Boxer Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jun 30, 2026 | United States | Series C | 5178 | [+9] | |
Jun 11, 2026 | United States | Post IPO | 3749 | [+2] | |
Jan 13, 2026 | United States | Series B | 7987 | [+14] | |
Oct 28, 2025 | United States | Series A | 5270 | [+8] | |
Sep 09, 2024 | United States | Series D | 2852 | [+17] |
IPOs and Publicly Listed companies in Boxer Capital's Portfolio
40 of Boxer Capital's portfolio companies have become public. Boundless Bio got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Mar 2024 at marketcap of $356M and Third Harmonic Bio got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $658M.Here are Boxer Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 28, 2024 | Sep 19, 2019 | Series A | 8399 | |
Sep 15, 2022 | Feb 16, 2022 | Series B | 6261 | |
Sep 15, 2021 | Jan 10, 2020 | Series A | 1825 | |
Jun 25, 2021 | Nov 17, 2020 | Series B | 3593 | |
Jun 25, 2021 | Apr 12, 2021 | Series B | 4208 |
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Acquired companies in Boxer Capital's Portfolio
22 companies from Boxer Capital's portfolio have been acquired. The most recent acquisition was Nuvalent in Jun 2026 by GSK for $*****.Here are Boxer Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 09, 2026 | May 11, 2021 | Series B | 5820 | |
May 03, 2026 | Sep 09, 2024 | Series D | 7821 | |
Apr 27, 2026 | Jun 01, 2021 | Series B | 3251 | |
Mar 31, 2026 | Feb 16, 2021 | Series A | 8726 | |
Mar 06, 2026 | Feb 01, 2021 | Series B | 3903 |
Team profile of Boxer Capital
Boxer Capital has a team of 9 members including 5 Partners located in United States. Boxer Capital's team does not sit on the board of any company as of now.Here is a list of all team members in Boxer Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | San Diego | - | ||
Partner | San Diego | - | ||
Partner | San Diego | - | ||
Partner | San Francisco | - | ||
Partner | San Diego | - |
Co-investors of Boxer Capital
Over the past 12 years, 445 investors have co-invested in Boxer Capital's portfolio companies. This includes funds and angels.
- Invested before Boxer Capital: Orbimed, Versant Ventures and 176 others have invested in rounds before Boxer Capital. There are 9 companies where Orbimed has invested before Boxer Capital and 7 companies where Versant Ventures has invested before Boxer Capital.
- Top Co-investors of Boxer Capital: 177 investors entered a company along with Boxer Capital. These include investors like RA Capital Management (20 companies).
- Invested after Boxer Capital: A total of 90 investors have invested in Boxer Capital's portfolio after their investments. Top Investors include RA Capital Management (7 companies), Fidelity Investments (5 companies) and Janus Henderson Investors (5 companies).
Recent News related to Boxer Capital
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Boxer Capital Management LLC Acquires Shares of 70,000 LB Pharmaceuticals Inc $LBRXMarketBeat•Mar 15, 2026•Boxer Capital, LB Pharmaceuticals
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Boxer Capital Management LLC Invests $1.16 Million in PepGen, Inc.MarketBeat•Mar 15, 2026•Boxer Capital, Pepgen
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Boxer Capital Management LLC Invests $1.33 Million in Milestone Pharmaceuticals Inc. $MISTMarketBeat•Mar 15, 2026•Boxer Capital, Milestone Pharmaceuticals
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Boxer Capital Management LLC Invests $1.59 Million in Avalo Therapeutics, Inc. $AVTXMarketBeat•Mar 15, 2026•Avalo Therapeutics, Boxer Capital
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Boxer Capital Management LLC Acquires New Holdings in MoonLake ImmunotherapeuticsMarketBeat•Mar 15, 2026•MoonLake, Boxer Capital
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Secretive startup Mirador raises $250M, plans to become immunology powerhouseEndpoints•Jan 11, 2026•Mirador, Fidelity Investments, Blue Owl, Adage Capital Management and 13 others
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Pathway to Cures Invests in SeraGene TherapeuticsBusiness Wire•Nov 19, 2025•SeraGene, Pathwaytocures, Blue Owl, Adage Capital Management and 5 others
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Zag Bio launches with $80M to train the immune system for better TregsEndpoints•Oct 28, 2025•T1D Fund, Polaris Partners, Zag Bio, Regeneron Ventures and 7 others
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Cybin Announces $175 Million Registered Direct OfferingBusiness Wire•Oct 28, 2025•Pivotal Life Sciences, Cybin, Stonepine, Adage Capital Management and 13 others
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