Fidelity Investments

Fidelity Investments (FMR LLC) is one of the world's largest financial services providers and asset managers, with over $5.9 trillion in discretionary assets under management and $15.1 trillion in assets under administration as of late 2024. While primarily a financial services firm, Fidelity is a critical pillar of the pharmaceutical and biotechnology ecosystem, serving as a major institutional investor in nearly every global 'Big Pharma' company and a prolific backer of emerging biotechs. The firm exerts influence in the life sciences sector through its dedicated venture capital arms, F-Prime Capital (formerly Fidelity Biosciences) and Eight Roads, which have backed hundreds of healthcare companies including Moderna and Denali Therapeutics. Additionally, Fidelity manages specialized sector funds such as the Fidelity Select Biotechnology Portfolio (FBIOX) and the Fidelity Select Pharmaceuticals Portfolio (PHREX), making it a primary source of capital for clinical-stage drug development and commercial-scale pharmaceutical operations.