EcoR1 Capital

Organization

A San Francisco-based value-oriented biotech fund founded by Oleg Nodelman.


First Mentioned

6/16/2026, 6:03:09 AM

Last Updated

6/16/2026, 6:06:46 AM

Research Retrieved

6/16/2026, 6:06:46 AM

Summary

EcoR1 Capital is a San Francisco-based biotech-focused investment advisory and venture capital firm founded in 2012 by Oleg Nodelman. The firm manages billions of dollars in assets, investing primarily in biotechnology, healthcare, life sciences, and oncology. During a special live segment of the All-In Podcast, Nodelman pitched Aktis Oncology, a highly innovative biotech firm focusing on radiopharmaceuticals. EcoR1 Capital has faced regulatory scrutiny, notably receiving a joint ‐10 million fine with Nodelman from the French financial markets regulator (AMF) in December 2024 for market manipulation during Innate Pharma's Nasdaq IPO in 2019.

Research Data
Extracted Attributes
  • Address

    357 Tehama Street, Floor 3, San Francisco, CA 94103, USA

  • Founded

    2012

  • Founder

    Oleg Nodelman

  • Industry

    Investment Management

  • Specialty

    Biotechnology, Healthcare, Life Sciences, Oncology

  • Company Size

    11-50 employees

  • Headquarters

    San Francisco, California, USA

  • Discretionary Assets Under Management (AUM)

    $3,424,668,843 USD (as of 2026-03-30)

Timeline
  • EcoR1 Capital is founded in San Francisco, California by Oleg Nodelman to focus on biotechnology and life sciences investments. (Source: Web Search)

    2012-01-01

  • EcoR1 Capital begins a multi-day period of market manipulation ('Marking the Close') on Euronext Paris to artificially depress Innate Pharma's share price during its Nasdaq IPO pricing window. (Source: Web Search)

    2019-10-10

  • The French financial markets regulator (AMF) imposes a ‐10 million fine, charging ‐7 million to EcoR1 Capital and ‐3 million to Oleg Nodelman, for manipulating Innate Pharma shares. (Source: Web Search)

    2024-12-13

  • EcoR1 Capital files Form ADV reporting discretionary assets under management of $3,424,668,843 USD across 5 clients. (Source: Web Search)

    2026-03-30

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Web Search Results
  • ECOR1 CAPITAL, LLC Top 13F Holdings

    EcoR1 Capital, LLC ("EcoR1") is a limited liability company that has been in business since 2012. As of December 31, 2025, EcoR1 had total discretionary net assets under management of approximately $2.279 billion, managing assets solely on a discretionary basis. EcoR1 serves as the general partner and investment adviser to the EcoR1 Capital Funds, which primarily invest in publicly traded equity and equity-related securities of biotechnology companies in U.S. and non-U.S. markets, as well as illiquid securities of public and private companies. EcoR1 also advises the EcoR1 Venture Opportunity Funds, focusing on restricted equity and equity-related securities issued by privately-held biotechnology companies globally. EcoR1 may also establish SPVs for co-investment opportunities. EcoR1 [...] Equal-WT WhaleScore 2.0 ? 88 S&P 500 WhaleScore ? Image 4: Subscription Required Equal-WT WhaleScore 1.0 ? Ecor1 Capital is based out of San Francisco. Ecor1 Capital is a hedge fund with 5 clients and discretionary assets under management (AUM) of $3,424,668,843 (Form ADV from 2026-03-30). Their last reported 13F filing for Q1 2026 included $2,356,318,840 in managed 13F securities and a top 10 holdings concentration of 88.9%. Ecor1 Capital's largest holding is Zymeworks Inc with shares held of 22,970,388. Whalewisdom has at least 52 13F filings, 24 13D filings, 311 13G filings, and 55 Form 4 filings ##### Business Description [...] EcoR1 invests (long and short) in securities, primarily equity and equity-related securities issued by biotechnology companies globally. The firm may also invest in preferred stocks, convertible securities, warrants, rights, options (including covered and uncovered puts and calls and over-the-counter options), swaps, other derivative instruments, bonds, other fixed income securities, currencies, and money market instruments. EcoR1 engages in margin trading, hedging, and other investment strategies. The specific investment strategies for the Capital Funds, Venture Funds, and SPVs differ. The Capital Funds invest principally in publicly traded equity and equity-related securities of biotechnology companies and illiquid securities. The Venture Funds invest principally in restricted equity

  • Oleg Nodelman - EcoR1 Capital - 2026 13F Holdings, Performance, and AUM - Insider Monkey

    EcoR1 Capital is a hedge fund managing discretionary assets totaling $5,001,741,440 for 5 clients, as reported in their Form ADV on March 28, 2024. Their most recent 13F filing for Q1 2024 disclosed $3,953,710,314 in managed 13F securities, with a top 10 holdings concentration of 61.14%. The fund's largest holding is Apellis Pharmaceuticals Inc., with 11,357,425 shares. Oleg Nodelman Fund Profile Filing Period: | | | --- | | Fund Name: | EcoR1 Capital | | Manager | Oleg Nodelman | | Portfolio Value | $2,356,318,840 | | Change This QTR | +1.07% | Top 13F Holdings Download Holdings | Login to See All Holdings | Sign up Filing Period: Last updated on based on SEC 13F filings Last update: [...] Oleg Nodelman is the Founder and Portfolio Manager of EcoR1 Capital LLC, a biotech-focused investment advisory firm established in 2013. With over twenty years of experience in biotech investing, Mr. Nodelman excels in all aspects of investment management and maintains deep connections within the biotech and scientific communities. Before founding EcoR1, he served as a portfolio manager at BVF Partners, a pioneering hedge fund dedicated to the biotechnology sector. He holds a Bachelor of Science in Foreign Service with a concentration in Science and Technology from Georgetown University. [...] Companies 0 See All Hedge Funds 0 See All Insiders 0 See All Institutional Investors 0 See All Click here to see all results for Sorry, no results has been found matching your query.) Home > Hedge Funds > EcoR1 Capital > Profile # Hedge Fund - EcoR1 Capital Get Email Alerts Profile 13F Holdings Latest 13D & 13G Filings News, Interviews, and Investor Letters Get Email Alerts ### Oleg Nodelman Bio, Returns, AUM, Net Worth Founded in 2012, EcoR1 Capital is a venture capital firm based in San Francisco, California. The firm focuses on investing in the healthcare, life sciences, and oncology sectors, aiming to support and drive advancements in these vital areas.

  • EcoR1 Capital, LLC - The art of investing in science.

    # EcoR1 Capital, LLC The art of investing in science. Investment Management • N/A • 2,404 followers • 11-50 employees ## Overview EcoR1 Capital, LLC is a biotech focused investment advisory firm. ### Website ### Crunchbase N/A ### LinkedIn N/A ### Industry Investment Management ### Company Size 11-50 employees 20 associated members (LinkedIn members who've listed EcoR1 Capital, LLC as their current workplace on their profile) ### Founded 2012 ### Funding Last Round Date: N/A Last Round Type: N/A Total Rounds: N/A Last Round Raised: N/A ### Investors N/A ### Specialties N/A ## Locations ### Get Directions

  • EcoR1 Capital Fine - €10M - Marking the Close – AMF - Dec 2024

    ## Contents Back to News ## Quick facts EcoR1 Capital Fine Amount: €10,000,000 (€7M to EcoR1 Capital and €3M to Oleg Nodelman) Date: 13 December 2024 Violation Period: October 10 -16, 2019 Primary Violation: Marking the Close ## EcoR1 Capital Fine Overview The French financial markets regulator (AMF) has imposed significant fines on San Francisco-based investment fund EcoR1 Capital and its director Oleg Nodelman for manipulating share prices during Innate Pharma's Nasdaq IPO in October 2019. The firm was found to have deliberately influenced the closing prices of Innate Pharma shares on Euronext Paris to affect the pricing of American Depositary Shares (ADSs) during the company's US listing. ## Details of the EcoR1 Capital Fine [...] On Trading Strategy: "EcoR1 has, at several times, readjusted downward the limit price of some of its orders when the current price was about to cross below the limit price initially stated in these orders, such readjustment giving rise to other aggressive sales over the rest of the ongoing session." On Market Impact: "The decrease in the Innate Pharma share price during the October 10-16, 2019 sessions had the effect of reducing the scale of the capital increase targeted by Innate Pharma on the occasion of its introduction on the Nasdaq, which is likely to have caused it prejudice." [...] ## Details of the EcoR1 Capital Fine The manipulation centered around a five-day pricing period used to determine Innate Pharma's ADS subscription price for its Nasdaq listing. The scheme worked as follows: The ADS pricing mechanism was based on the weighted average of Innate Pharma's closing prices on Euronext Paris over five specific trading sessions. During these critical sessions (October 10-16, 2019), EcoR1: + Sold large volumes of Innate Pharma shares on Euronext Paris. + Concentrated significant selling activity during market closing periods. + Subsequently became the largest subscriber of Innate Pharma ADSs on Nasdaq. The investigation found that EcoR1's trading patterns demonstrated:

  • EcoR1 Capital | Biotech-Focused Investment Fund

    EMAIL tardigrades@ecor1cap.com address EcoR1 Capital, LLC 357 Tehama Street, Floor 3 San Francisco, CA 94103 © 2024 ECOR1 CAPITAL. ALL RIGHTS RESERVED. TERMS OF USE | PRIVACY POLICY [...] OUR VENTURE PORTFOLIO ## Pioneering Breakthroughs The substrate underpinning biological and chemical discovery has never been stronger. This exponential rise in our understanding of the molecular basis of disease has created an exhilarating roadmap for the world-class drug hunters with whom we partner. Innovation thrives here OUR TEAM ## Passionately Curious Are our phenotypes showing? We often hear, “no one has asked that before,” a badge of honor that shows our ability to contribute to both science and strategy. Finding value is in our genetic code, and we’ll search it out, wherever it may be hidden. Explore our DNA EcoR1 team members talking, cut out and placed on top of a pie slice shape Forge the future of biotech with us. EMAIL tardigrades@ecor1cap.com address