Press -vs- Milestones

Inspiration: See Monday Morning Macro:

See Monday Mornign Macro from Feb 8

ExampleA

Biopharma Rhythm raises $41M
Biopharma has raised $41 million in new VC funding from backers including Deerfield Management, Ipsen, OrbiMed, MPM Capital, NEA, Pfizer Venture Investments and Third Rock Ventures. Boston-based developer creates peptide therapeutics to treat rare genetic deficiencies causing life-threatening metabolic disorders.

Its a giant woopee for people working there but all too often it is read as the sector is viewed as interesting for investment. Especially after you stack a few of those up. BiopharmA, BiofarmB, BiopharmaC are all getting 10M+ in investment each causes people to rightfully look and say what is going on over there.

Answer can be a combination of a few things:

• 1 interesting deal, compounded by other VCs looking to get a me too deal in the space
• There is a very naturally occuring streak. 1 deal was good, 1 deal was just a life line, and another deal is actually a formality of a corporate investment arm spinning out a venture & giving them some budget to get the thing off the ground.

References
http://blog.ycombinator.com/fundraising-rounds-are-not-milestones/