Taiho Ventures
2016 → 2026A decade backing breakthrough oncology, immunology and urology.
10th Anniversary · Read the letter →
Taiho VenturesEST. 2016 · MENLO PARKReach the team
Corporate Venture · $400M FundMenlo Park · Tokyo

A bridge from breakthrough science to global commercialization — backed by a century-old pharmaceutical company.

We invest in early-stage therapeutics — preclinical through proof of concept — in oncology, immunology and urology, alongside the most credible institutional life-science investors.

Our value to a syndicate is not just capital. It is the validation, infrastructure and Asian-market reach of Taiho Pharmaceutical on the cap table.

Yuki TanakaManaging Director, Taiho Ventures
EDITORIAL PORTRAIT · MENLO PARK OFFICE · 2200×940
FIG. 01Founding partners, San FranciscoPhotograph by Theresa Hultberg
Fund III
$400M
Patient capital, backed by corporate balance-sheet strength.
Vintage
10 yrs
Continuous investment activity since 2016 — through three market cycles.
Portfolio
38
Companies financed, including 7 IPOs and 4 strategic acquisitions.
Syndicates
52
Lead investors we have stood alongside — ARCH, GV, MPM, RA, Versant and more.
§ 01 · Mandate

We back early-stage therapeutics where science is the asset and the syndicate is the strategy — preclinical through proof of concept.

01 / Therapeutic focus

Oncology, immunology, and urology — read deeply, write conviction checks.

We index hard on indications where Taiho Pharmaceutical's scientific lineage compounds: solid tumors, novel modalities in I/O, and uro-oncology where commercial channels matter.

OncologyImmunologyUrology
02 / Stage

Preclinical IND-enabling through Phase 2 proof of concept.

We typically write $5M–$25M into Series A and B syndicates as a strategic participant. Earlier when the science calls for it; later through structured follow-on or company-creation vehicles.

PreclinicalPhase 1POCBuild-to-buy
03 / Partnership models

Syndicate, create, license, or acquire — the deal structure follows the science.

We have led, co-led and followed across 50+ syndicates, founded three operating companies, and re-acquired one of our own (Cullinan Pearl). Patient capital makes flexible structures possible.

SyndicateCo-foundLicenseM&A

Selected portfolio — across syndicates, stages and outcomes.

38 active & realized · 11 outcomesView the full portfolio →
Build-to-buy · 2023 reacquisition
Cullinan Pearl
Solid tumor · EGFR exon 20
CULLINAN PEARL · BUILD-TO-BUY EXIT
Originally co-created with Cullinan Oncology, Pearl was carved out and acquired by Taiho Pharmaceutical in 2023 for up to $400M — the canonical proof of our build-to-buy model in action.
SyndicateCullinan Oncology · Taiho Ventures · MPM
Arcus Biosciences
I/O · Adenosine · TIGIT
IPO · NYSE: RCUS
Strategic investor since Series C; led Asian rights collaboration that became the foundation of Arcus's Pacific commercialization strategy.
Co-investorsForesite · Column Group · GV · Celgene
Orna Therapeutics
Circular RNA platform
Backed at platform formation; subsequent Merck acquisition validated the underlying chemistry.
Co-investorsMPM BioImpact · F-Prime · Novartis
M&A · Merck KGaA
Harpoon
TriTAC immune engagers
Risk-shared alongside MPM and ARCH from Series A through commercial proof points.
Co-investorsMPM · ARCH · NEA
Vincerx Pharma
Bioconjugation · ADC
Public
Co-investorsBayer · Atlas · Polaris
Anaveon
IL-2 selective agonist
Series B
Co-investorsSR One · Novartis VC · HBM
Logos & case content shown for layout demonstration. Final list and outcomes provided by Taiho Ventures.Filter the full portfolio by stage, modality, area →
§ 02 · Team

Investors who built drugs before they wrote checks — scientists, clinicians, operators.

A.01PORTRAIT · 4:5
Yuki Tanaka, PhD
Managing Director
Stanford PhDEx-Genentech

Translational immunology; led three CD3 bispecific INDs before joining Taiho Ventures in 2018.

A.02PORTRAIT · 4:5
Marcus Chen, MD
Partner, Clinical
Yale MDMSK fellow

Medical oncologist; principal investigator on five Phase 1/2 solid-tumor trials prior to venture.

A.03PORTRAIT · 4:5
Aoife Brennan
Partner, Operations
Wharton MBAEx-Synlogic CEO

Built and exited a public biotech; advises portfolio companies through clinical operations and BD.

A.04PORTRAIT · 4:5
Hiroshi Mori, PhD
Principal, Tokyo
Univ. TokyoBridge to Asia

Asian-market entry and licensing; manages Taiho's pipeline of co-development opportunities.

From the Newsroom

Press feed launches Q3 2026
Placeholder · 2026.07.xxA coming announcement on platform-stage immunology investment.Taiho Ventures Press · Menlo Park
Placeholder · 2026.06.xxPacific commercialization expansion — joint statement, Tokyo.Taiho Pharmaceutical & Taiho Ventures
Placeholder · 2026.05.xxTenth-anniversary letter from the Managing Director.Taiho Ventures · Editorial
§ 03 · Reach the team

Tell us where you are in the science — we'll route you to the partner who has lived it.

01 · Stage
Where is the asset today?
DiscoveryPreclinicalPhase 1Phase 2 / POCPlatform-stage
02 · Area
Therapeutic focus
OncologyImmunologyUrologyAdjacent
03 · Modality
Technology / modality
Small moleculeBiologicADCCell & geneRNAPlatform
04 · Ask
What kind of partner are you looking for?
Syndicate participantLeadCo-creationStrategic / BD
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