Andreessen Horowitz Fund Bought $19.8M in Braveheart Bio IPO, Converted $228.4M Preferred Stake
BRVE is trading near its 52-week low of $24.61 (1.6% above the low).
Summary
Andreessen Horowitz's AH Bio Fund IV disclosed a $19.8 million open-market purchase in Braveheart Bio's IPO and the conversion of a $228.4 million preferred stake, reinforcing strong institutional support.
Key Events · Ownership and Investor Activity · BRVE
-
AH Bio Fund IV Bought $19.8M in IPO
The Andreessen Horowitz fund purchased 1,100,000 shares at $18.00 per share in the August 7 IPO, a $19.8 million open-market buy.
-
Converted $228.4M Preferred Stake
40,000,000 Series A Preferred shares automatically converted into 9,132,420 common shares at a 4.38-for-1 ratio, valued at $228.4 million based on the IPO price.
-
Post-Transaction Holdings of 10.2M Shares
AH Bio Fund IV now holds 10,232,420 common shares indirectly, representing a significant ownership position in the newly public company.
-
Part of Broad Institutional Backing
This filing follows similar IPO purchases and conversions by Forbion ($64.8M) and OrbiMed ($34.9M), confirming strong demand from top-tier life sciences investors.
Analysis · BRVE · Life Sciences
AH Bio Fund IV, an Andreessen Horowitz entity, purchased 1.1 million shares at the $18.00 IPO price for $19.8 million and converted 40 million Series A Preferred shares into 9.13 million common shares. The conversion, valued at $228.4 million based on the IPO price, represents a massive commitment from a top-tier venture capital firm. This follows similar disclosures from Forbion and OrbiMed, confirming broad institutional backing for the newly public biotech. The purchase and conversion together account for over 14% of the company's market cap, underscoring the fund's conviction despite the stock trading near its 52-week low.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 36.9% of the 1029 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.77%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BRVE was trading at $25.01 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.8B. The 52-week trading range was $24.61 to $32.00. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.