Biotechnology Growth Capital Investments in 2026

KKR has completed an additional investment in Sylvan, a global mushroom spawn and fungal biotechnology company, with participation from TPG NewQuest, Ping'An Capital, China Post Insurance, Schroders Capital, Tsao Pao Chee and a follow-on from Novo Holdings. The funding will support Sylvan’s expansion—increasing production capacity, strengthening R&D, developing new product categories and deeper growth across Asian markets—while KKR remains the company’s majority investor.

EQT Life Sciences (via its LSP Dementia Fund) and Gimv co-led a €51 million Series B in German clinical-stage biopharmaceutical company Exciva to fund a Phase 2 trial of its lead candidate, Deraphan, for agitation associated with Alzheimer's disease. Additional participants included Fountain Healthcare Partners, LifeArc, Carma Fund, Modi Ventures, Andera Partners, LBBW and returning investors; proceeds will support multinational Phase 2 studies across the EU, United States and Canada.