- Leading early-stage venture capital firm Atlas Venture announced that it closed its twelfth fund at $400 million
Leading early-stage venture capital firm Atlas Venture announced that it closed its twelfth fund at $400 million as part of a highly oversubscribed fundraise. And the venture firm also announced it promoted Michael Gladstone to partner.
With this fund, Atlas Venture will continue to advance its mission of doing well by doing good and building biotech companies to deliver high-impact therapies to patients.
“The importance of advancing innovations in biotechnology has rarely felt more critical,” said Bruce Booth, partner at Atlas Venture. “We continue to be humbled by the support of the LP community, whose partnership has enabled us to continue our early stage seed-led venture creation model backed by strategic and disciplined fund sizes.”
Atlas Venture has raised $1 billion across three funds to advance new medicines for patients since 2017.
By partnering with experienced entrepreneurs-in-residence, Atlas Venture creates new startups that are focused on cutting-edge innovation, sourced from leading global institutions and the team’s entrepreneurial networks. Atlas matches the business model and strategy to the underlying scientific opportunity. Plus 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.
Gladstone joined Atlas in 2012 and has been a key contributor to many portfolio companies over the last eight years, including Akero, AVROBIO, Delinia, IFM, and several others.
“It has been a privilege to work side-by-side with world-class entrepreneurs to build biotechs and pursue new medicines,” explained Gladstone Michael. “I am thrilled to play a role in the next generation of biotech startups as a partner at Atlas.”
Atlas Venture has been creating and investing in biotechnology startups for over two decades.
“Michael has been an outstanding team member and company-builder, and we are proud to announce his promotion to partner,” commented Atlas partner Jason Rhodes. “We could not be more excited for the future of Atlas and look forward to building companies that will drive therapeutic innovation for patients.”
Along with Booth, Gladstone, and Rhodes, the six investing partners in Fund XII also include Kevin Bitterman, Jean-François Formela, and David Grayzel.
