- Posted by ISPE Boston
- On January 7, 2019
Atlas Venture, a leading venture capital firm investing in breakthrough biotech innovation, has announced the closing of its first Opportunity Fund, raising $250 million in an oversubscribed fundraise. With Atlas Venture Opportunity Fund I (AVOF I), the firm will invest in existing Atlas portfolio companies as they progress.
“We are delighted and humbled by the support of our limited partners in this natural extension of our venture creation investment model,” said Atlas partner Kevin Bitterman. “Atlas’ longstanding and new limited partners alike have demonstrated their conviction in the ability of our portfolio companies to advance innovative therapeutics for patients in need.”
Together with experienced entrepreneurs-in-residence, Atlas Venture creates new biotech startups to discover and develop novel medicines. The firm takes a hands-on approach to building companies and incubates many of them in the firm’s Kendall Square space. Atlas’ early stage funds, which focus on new company formation, are complemented by AVOF I which will invest in high-potential portfolio companies as they grow through Series B financings and beyond. (Source: Atlas Venture Website, 02 January, 2019)