Before each IPO · equity funding
Moderna
vs
BioNTech

$1.8Bequity raised

7rounds

17named investors

$863Mequity raised

5rounds

14named investors

$604MDec 2018
Raised at IPO
$150MOct 2019

Investor mix

Share of named investors · each counted once

Investor type

71%
Investment firms
57%
24%
Corporate investors
36%
0%
Family offices
7%
6%
Sovereign funds
0%

Headquarters

59%
North America
36%
24%
Europe
43%
18%
Asia & Middle East
14%
0%
Oceania
7%

Investor names recorded for 5/7 rounds at Moderna and 5/5 at BioNTech