CAMBRIDGE, Mass.--(BUSINESS WIRE)--Atlas Venture, a leading early stage venture capital firm investing in groundbreaking biotech innovation, today announced the closing of its fourteenth fund, raising $450 million in an oversubscribed fundraise. With Fund XIV, Atlas Venture will continue collaborating with talented entrepreneurs to found, seed, incubate, and invest in new biotech startups bringing new medicines to patients.
“Core to Atlas is a disciplined approach to our firm, funds, and portfolio. We believe deeply in the power of a focused venture creation strategy, building biotech companies across the spectrum of disease areas, modalities, and business models,” said the Atlas partnership, in a joint statement. “We are grateful to work with a long-standing group of LPs who have embraced our model with tremendous support in Fund XIV.”
Atlas Venture has been building and investing in innovative biotech startups for more than three decades and has raised eight funds since 2009 across early stage and opportunity fund vehicles. Atlas’ well-established LP base comprises a marquee group of long-term institutional investors.
Atlas builds companies based on breakthrough discoveries and technologies worldwide, shaping each according to its unique scientific opportunity. Since Fund XIII closed in 2022, Nimbus’ Tyk2 program, Versanis Bio, Aiolos Bio, and Mariana Oncology were acquired by pharma partners working to bring their novel therapies to patients. Disc Medicine, Korro Bio, Q32 Bio, and Third Harmonic Bio became public, and Day One Biopharmaceuticals achieved its first FDA approval for OjemdaTM for the treatment of pediatric low-grade glioma. Over the past two years, Atlas has launched 16 new biotech companies and recruited approximately 100 executive leaders across its portfolio. Today, Atlas portfolio companies have nearly 50 clinical trials ongoing, working to develop new therapeutics for patients.
Since he initiated biotech investing at Atlas in 1993, Jean-François (JF) Formela has led the development of the key platform technologies in our industry and multiple approved drugs. He has decided that with the closing of Fund XIV, while he will remain active with his portfolio and other activities within the firm, he will no longer make new investments. “I am immensely proud of the organization Atlas Venture has become,” said JF. “I look forward to continuing to work alongside my partners, countless talented entrepreneurs, and the broader biopharma community toward our shared goal of bringing groundbreaking medicines forward.” The investing partners in Fund XIV are Kevin Bitterman, Bruce Booth, Michael Gladstone, 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 for over 30 years. 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.
