Cambridge, Massachusetts-based venture capital firm Atlas Venture has been investing in biotech since 1993 and has earned itself quite a name in the past few years. The company, which has been investing in both information technology and life sciences for years, in 2014, said it was separating its life science and IT businesses. It added that despite the separation, the biotech side would be retaining the Atlas Venture name.
The capital firm has now raised its eleventh fund, totaling $350 million, to invest in the early stage biotech companies in the U.S. and around the world. With this Fund XI, it will continue to advance its mission of “doing well by doing good”, building biotech companies to deliver high-impact therapies to patients.
“We’ve been humbled by the interest from the investor community in Fund XI. The deep support shown by limited partners who have invested alongside us for multiple funds, as well as by those that are joining us for the first time is a strong validation of our model.” said Jean-François Formela, one of the investors.
Fund XI includes investing partners Kevin Bitterman, Bruce Booth, and David Grayzel, as well as Atlas partners Jason Rhodes and Jean-François Formela.
Partnering
with experienced entrepreneurs-in-residence, Atlas Venture creates startups focused on cutting-edge innovation, over the past year has helped with a series of funding rounds for biotechs, and late last year, it teamed up with Third Rock in a $48.5 million series A to create and launch Magenta Therapeutics, a new biotech that aims to reset and refresh the immune system.
