CAMBRIDGE, Mass.--(BUSINESS WIRE)--Atlas Venture, a leading early stage venture capital firm investing in groundbreaking biotech innovation, today announced the closing of its eleventh fund, raising $350 million in a highly oversubscribed fundraise. With Fund XI, Atlas Venture 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,” said Atlas partner Jean-François Formela. “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.”
Partnering with experienced entrepreneurs-in-residence, Atlas Venture creates new startups focused on cutting-edge innovation, sourced from leading global institutions and the team’s entrepreneurial networks. From product engine platforms to asset-centric entities, Atlas matches the business model and strategy to the underlying scientific opportunity. The firm’s in-house incubation space in the heart of Kendall Square enables Atlas’ team to be hands-on collaborators with companies from inception through the goal of creating transformational new medicines.
Atlas Venture has been building and investing in innovative biotechnology startups for more than two decades. “We are excited to be working at the forefront of scientific innovation to develop novel therapies for patients,” said Atlas partner Jason Rhodes. “With exceptional entrepreneurs as our partners, we look forward to continuing to build companies that will shape the future of medicine.”
Beyond Formela and Rhodes, the five investing partners in Fund XI also include Kevin Bitterman, Bruce Booth, and David Grayzel. In Fund XI, Peter Barrett will transition into a venture partner role where he will focus on actively managing existing Atlas investments and assisting in firm operations.
About Atlas Venture
Atlas Venture is a leading biotech venture capital firm. With the goal of doing well by doing good, we have been building breakthrough biotech startups since 1993. We work side by side with exceptional scientists and entrepreneurs to translate high impact science into medicines for patients. Our seed-led venture creation strategy rigorously selects and focuses investment on the most compelling opportunities to build scalable businesses and realize value. For more information, please visit www.atlasventure.com.