RNA Technologies Landscape (Jolt Capital)

Summary

• Using Jolt.Ninja AI-powered search methodology, 2,593 companies were identified within the RNA perimeter.p.4
• Over the last 10 years, more than €50 billion has been invested in RNA technologies across approximately +2,490 equity deals.p.9
• North America accounted for 56% of investment rounds and 72% of total capital invested in RNA technologies in 2023.p.9
• North American firms secured over 6x the funding of European RNA companies on average.p.10
• RNA technologies for Healthcare & Biopharma capture +85% of investment deals.p.11
• The RNA hidden universe consists of over 1,200 companies that have not raised funding from VC or PE investors since 2000.p.13
• There are roughly +18,200 active patents filed by RNA companies globally.p.15

Key insights

1. North America dominated RNA funding in 2023, receiving 72% of total capital raised and 56% of total investment rounds.p.9
2. European RNA companies took 3-4 years on average to reach €20 million in funding, whereas North American companies reached that milestone in less than 1 year.p.10
3. Growth rounds increased significantly in European RNA, representing approximately 30% of deal volume in 2023.p.11
4. 47% of identified RNA companies belong to the hidden universe, having not received VC/PE funding.p.13
5. European companies account for 29% of RNA companies and hold 22% of active patents worldwide.p.15
6. The proportion of top 5% quality patents originating from North American companies has grown over time relative to other regions.p.18
7. The strongest intellectual property portfolios within the unfunded hidden universe belong to Healthcare & Biopharma and Agriculture.p.19
8. Over 150 universities and research centers involved in RNA technologies have been mapped across Europe.p.21