RA Capital Management is a Boston-based investment firm founded in 2002 that specializes in public and private healthcare and life science companies. The firm employs evidence-based research to support ventures focused on developing drugs, medical devices, diagnostics, health services and research tools. Operations include venture investing, an internal research division called TechAtlas and strategic collaborations with industry and academic partners.
RA Capital provides multi-stage funding from seed through later financing rounds, with the flexibility to lead or co-invest on promising opportunities. Through programs like RA Ventures and its Carnot incubator, the firm helps build companies from concept to market launch. The TechAtlas team analyzes scientific literature and product pipelines to refine strategy, while the Knowledge division shares articles, presentations and books on biotechnology and healthcare investing. The Structured Capital unit offers credit and capital solutions for commercial-stage enterprises, and RA University delivers intensive courses on advanced topics in the biotech business.
In 2023, RA Capital formed a dedicated Planetary Health team and in July 2025 closed its first Planetary Health Fund at $120 million. This fund targets early-stage companies in clean energy, resource management and industrial productivity, with special focus on battery technology. Notable investments include AM Batteries, Sortera Technologies, Koloma, Bia Energy, Optivolt and several undisclosed ventures. The firm seeks businesses that can achieve profitable growth without relying on subsidies, applying market diligence and technology commercialization expertise to identify capital-efficient solutions ready for near-term deployment.
