Atlas Venture, a prominent early-stage venture capital firm in the biotech sector, has successfully closed its fourteenth fund, raising an impressive $450 million in an oversubscribed round. This new fund positions Atlas to continue its mission of partnering with capable entrepreneurs to establish, seed, incubate, and invest in innovative biotech companies focused on delivering new therapies to patients.
The Atlas team emphasized their disciplined approach to venture creation, underscoring the importance of a focused strategy that spans various disease areas, business models, and treatment modalities. They expressed gratitude to their long-standing group of limited partners (LPs) for their enduring support of this proven model.
With over 30 years of experience in building and investing in biotech startups, Atlas Venture has successfully launched eight funds since 2009, including a mix of early-stage and opportunity fund approaches. Their established LP base includes a distinguished group of institutional investors, further strengthening their financial foundation.
The firm has achieved notable successes since the closure of their previous fund, Fund XIII, in 2022. This includes acquisitions of several portfolio companies by pharmaceutical partners, which aim to advance innovative therapies to patients. In addition, companies such as Disc Medicine, Korro Bio, Q32 Bio, and Third Harmonic Bio have gone public. Notably, Day One Biopharmaceuticals secured its first FDA approval for Ojemda, a treatment for pediatric low-grade glioma.
In terms of growth, Atlas has initiated 16 new biotech companies in the last two years and has onboarded around 100 executive leaders into its portfolio. The firm’s current investments have nearly 50 clinical trials in progress, showcasing their commitment to developing new therapeutics.
Jean-François (JF) Formela, a key figure in biotech investments at Atlas since 1993, announced that while he will remain engaged with his existing portfolio, he will not pursue new investments following the closing of Fund XIV. He expressed pride in Atlas Venture’s evolution and commitment to working collaboratively with talented entrepreneurs in the biopharmaceutical community to advance groundbreaking medicines.
Atlas Venture remains dedicated to translating high-impact scientific discoveries into viable treatments for patients, reflecting their motto of doing well by doing good. The firm’s ongoing commitment to innovation and collaboration bodes well for the future of biotech investment and patient care.
This announcement is not only a testament to the confidence investors have in the potential of biotech innovations but also highlights the ongoing dedication to improving health outcomes for patients worldwide. As Atlas continues to foster new companies and technologies, the future of medicine looks promising.