Atlas Venture has announced the closing of its third Opportunity Fund, securing $400 million in an oversubscribed round. This latest fund, known as Opportunity Fund III, marks a significant milestone in Atlas’s continued evolution as a leading force in life sciences venture capital. It arrives on the heels of the firm’s $450 million Fund XIV, which closed in late 2024 and serves as Atlas’s most recent early-stage investment vehicle.
The launch of Opportunity Fund III reflects Atlas’s strategic approach to venture investing, one that combines early-stage company formation with long-term capital support. The firm’s two-fund model allows it to back promising biotech startups from their earliest moments—often starting with seed and Series A rounds—and then continue supporting those companies as they mature, raise additional financing, and advance their therapeutic pipelines. This structure enables Atlas to remain engaged with its portfolio companies throughout their development journey, providing not only capital but also strategic guidance and operational support.
Atlas has built its reputation over more than three decades by identifying transformative science and helping turn it into breakthrough therapies. The firm’s investment team collaborates closely with a network of entrepreneurs-in-residence and scientific founders to incubate new companies based on high-potential discoveries sourced from academic institutions and research centers worldwide.
These collaborations often begin at the earliest stages of company formation, with Atlas playing a hands-on role in shaping business strategy, assembling leadership teams, and navigating the complexities of drug development.
With Opportunity Fund III now in place, Atlas is positioned to deepen its involvement in select later-stage private and public financings of its existing portfolio companies. This fund will allow the firm to continue supporting companies that are progressing toward clinical milestones, regulatory approvals, and commercial readiness. It also enables Atlas to remain a long-term partner to the entrepreneurs and scientists it backs, helping them navigate the challenges of scaling biotech ventures in a competitive and highly regulated environment.
The fund will be managed by a seasoned team of general partners, including Kevin Bitterman, Bruce Booth, Michael Gladstone, and Jason Rhodes. Their collective experience spans company formation, scientific diligence, and capital markets strategy, giving Atlas a well-rounded perspective on what it takes to build successful biotech businesses.
Longtime partners Jean-François Formela and David Grayzel also continue to contribute their expertise across the firm, reinforcing Atlas’s commitment to continuity and depth in its investment approach.
KEY QUOTES:
“We’ve been encouraged by the incredible progress made across our portfolio, despite the array of challenges faced by biotechs in the current environment. We are thrilled to be in a position to invest Opportunity Fund III into this exceptional cohort of companies. Opportunity Fund III reinforces our commitment to raising funds tailored in size and strategy to our bespoke investment approach. We are grateful for the support of our longstanding limited partners in our pursuit of building biotechs that can develop transformative therapeutics for patients.”
The Atlas partnership in a joint statement
