CAMBRIDGE, Mass.--(BUSINESS WIRE)--Atlas Venture, a leading venture capital firm investing in breakthrough biotech innovation, today announced the closing of its first Opportunity Fund, raising $250 million in an oversubscribed fundraise. With Atlas Venture Opportunity Fund I (AVOF I), the firm will invest in existing Atlas portfolio companies as they progress.
“We are delighted and humbled by the support of our limited partners in this natural extension of our venture creation investment model,” said Atlas partner Kevin Bitterman. “Atlas’ longstanding and new limited partners alike have demonstrated their conviction in the ability of our portfolio companies to advance innovative therapeutics for patients in need.”
Together with experienced entrepreneurs-in-residence, Atlas Venture creates new biotech startups to discover and develop novel medicines. The firm takes a hands-on approach to building companies and incubates many of them in the firm’s Kendall Square space. Atlas’ early stage funds, which focus on new company formation, are complemented by AVOF I which will invest in high-potential portfolio companies as they grow through Series B financings and beyond.
Atlas Venture has been building biotechnology companies for more than two decades. The same team of five investing partners will invest AVOF I: Kevin Bitterman, Bruce Booth, Jean-François Formela, David Grayzel, and Jason Rhodes.
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.