Atlas Venture, a leading venture capital firm investing in breakthrough biotech innovation, today 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.
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.
Atlas Venture has been building biotechnology companies for more than two decades. The same team of five investing partners will invest AVOF I: Kevin Bitterman, Bruce Booth, Jean-François Formela, David Grayzel, and Jason Rhodes.