Atlas Venture—a leading early-stage venture capital firm investing in biotech innovation—announced closing its fourteenth fund, raising $450 million in an oversubscribed fundraise. Through Fund XIV, Atlas Venture will continue collaborating with talented entrepreneurs to found, seed, incubate, and invest in new biotech startups that will bring new medicines to patients.
Atlas Venture has been building and investing in biotech startups for over thirty years and has raised eight funds since 2009 across early-stage and opportunity fund vehicles. Its well-established LP base comprises a marquee group of long-term institutional investors.
Atlas builds companies based on discoveries and technologies worldwide, shaping each according to its unique scientific opportunity. And 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 Ojemda to treat pediatric low-grade glioma.
Atlas has launched 16 new biotech companies in the past two years and recruited about 100 executive leaders across its portfolio. Today, Atlas portfolio companies have nearly 50 clinical trials ongoing, working to develop new therapeutics for patients.
Since initiating 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.
The investing partners in Fund XIV are Kevin Bitterman, Bruce Booth, Michael Gladstone, David Grayzel, and Jason Rhodes.
KEY QUOTES:
“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. We are grateful to work with a long-standing group of LPs who have embraced our model with tremendous support in Fund XIV.”
– Atlas partnership in a joint statement
“I am immensely proud of the organization Atlas Venture has become. 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.”
– JF
