Biotech is the second largest sector of VC after software. $15B was invested in biotech startups in 2019. The biggest subsector of biotech VC is startups working on cancer drugs.
However there is zero overlap between the top biotech VCs and top tech VCs (including YC) so awareness of biotech is low outside of the industry
I just meant zero overlap among the top VCs. YC is doing some really cool things in biotech but they are pretty new to it. In terms of dollars invested, exits and returns, the top biotech VCs are funds like the column group, orbimed, 5am, versant, foresite, flagship, third rock, atlas, arch, sofinnova. These funds only do biotech and have been doing it for decades
However there is zero overlap between the top biotech VCs and top tech VCs (including YC) so awareness of biotech is low outside of the industry