To support its ongoing goal of populating the biotech space with new firms capable of innovating solutions addressing unmet patient needs, venture capital firm Atlas Venture has recently raked in $450 million through its thirteenth fundraising effort—Atlas Venture Fund XIII. Since 2015, the company has collected more than $2 billion via fundraising, funneling its earnings into the creation, incubation, and/or general support of more than 50 biotech firms in that time. This latest fund allows Atlas to collaborate more closely with a wider variety of entrepreneurs.
“Over the past two years, we have all experienced the tremendous benefits of investment in scientific and medical innovation,” Atlas Venture Partner and Fund XII investor Jason Rhodes said. “We are deeply appreciative of the ongoing support of our LPs, which enables us to continue our disciplined venture creation approach to building and scaling biotech companies advancing novel therapeutics for a wide range of serious diseases.” Also investing were Michael Gladstone, Kevin Bitterman, David Grayzel, and Jean-François Formela.
Atlas’ Opportunity Fund II arm, a $300 million investment repository created last year, is also on hand to back companies that are honing advanced therapeutics programs. Funds from previous years include the $400 million Fund XII, the $350 million Fund XI, and the $250 million Opportunity Fund I. Among the dozens of treatments and therapy-focused biotech firms in the current Atlas portfolio are Ikena Oncology, Chroma Medicine, Translate Bio, and Dyne Therapeutics.