Atlas Venture Closes $250 Million Opportunity Fund I to Advance Breakthrough Biotech Portfolio Companies

VCBeat (WeChat Official Account: vcbeat) has learned that Atlas Venture recently announced the successful final closing of its first fund, raising $250 million.

It is reported that Atlas Venture, a leading venture capital firm primarily investing in breakthrough biotechnology innovations, has officially announced the closing of its latest fundraising round, revealing that it raised $250 million in an oversubscribed fund.

It is understood that with the launch of Atlas Venture Opportunity Fund I (AVOF I), Atlas Venture will continue to invest in its existing portfolio companies.

Kevin Bitterman, a partner at Atlas, stated, “Our partners support our risk-creation investment model, and we are both delighted and humbled by this.” He also revealed that the support from Atlas’s long-term and new partners has further strengthened its confidence in advancing innovative therapies for patients in need.

For many years, Atlas Venture has invested in new biotechnology startups with the initial goal of developing novel drugs, working alongside experienced entrepreneurs. The firm adopts a hands-on approach with strict oversight and has incubated numerous new companies in Kendall Square. Atlas’s early-stage funds have focused on building new companies, and AVOFI will also invest in high-potential portfolio companies through Series B financing and other means.

Previously, Atlas Venture had made a cumulative total of 489 investments. Its most recent investment occurred on December 12, 2018, when the firm invested $70 million in Akero Therapeutics.

Atlas Venture is a leading biotechnology venture capital firm. Since 1993, the company has been dedicated to creating groundbreaking biotech startups, with the goal of making a tangible impact by doing things better.

For many years, the company has collaborated with distinguished scientists and entrepreneurs, leveraging high-impact scientific and technological innovations to develop therapeutic agents for patients.

Atlas Venture, a biotechnology firm with over two decades of history, has consistently operated its biotech ventures as a collaborative team effort. Adhering to its entrepreneurial strategy, the company rigorously selects and focuses on the most attractive investment opportunities to build scalable businesses and realize value.

Currently, Atlas brings together a distinguished group of entrepreneurs with extensive experience in research, development, transactions, and finance, consistently creating value for groundbreaking biotechnology companies.