Atlas Venture Announces $400 Million Fund XII and Expansion of Partnership
- New fund will be deployed to create breakthrough biotech startups
- Michael Gladstone is promoted to partner
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Atlas Venture, a leading early stage venture capital firm investing in groundbreaking biotech innovation, today announced the closing of its twelfth fund, raising $400 million in a highly oversubscribed fundraise. With the closing of Fund XII, Michael Gladstone was promoted to partner. Atlas Venture will continue to advance its mission of doing well by doing good, building biotech companies to deliver high-impact therapies to patients.
“The importance of advancing innovations in biotechnology has rarely felt more critical,” said Bruce Booth, partner at Atlas Venture. “We continue to be humbled by the support of the LP community, whose partnership has enabled us to continue our early stage seed-led venture creation model backed by strategic and disciplined fund sizes.” Since 2017, Atlas has raised $1 billion across three funds to advance new medicines for patients.
Partnering with experienced entrepreneurs-in-residence, Atlas Venture creates new startups focused on cutting-edge innovation, sourced from leading global institutions and the team’s entrepreneurial networks. From product engine platforms to asset-centric entities, Atlas matches the business model and strategy to the underlying scientific opportunity. The firm’s in-house incubation space in the heart of Kendall Square enables Atlas’ team to be hands-on collaborators with companies from inception through the goal of creating transformational new medicines.
With the closing of Fund XII, Michael Gladstone was promoted to partner. Michael joined Atlas in 2012 and has been a key contributor to many portfolio companies over the last eight years, including Akero, AVROBIO, Delinia, IFM, and others. “It has been a privilege to work side-by-side with world-class entrepreneurs to build biotechs and pursue new medicines,” said Michael. “I am thrilled to play a role in the next generation of biotech startups as a partner at Atlas.”
Atlas Venture has been building and investing in innovative biotechnology startups for more than two decades. “Michael has been an outstanding team member and company-builder, and we are proud to announce his promotion to partner,” said Atlas partner Jason Rhodes. “We could not be more excited for the future of Atlas and look forward to building companies that will drive therapeutic innovation for patients.”
Alongside Booth, Gladstone, and Rhodes, the six investing partners in Fund XII also include Kevin Bitterman, Jean-François Formela, and David Grayzel.
About Atlas Venture
Atlas Venture is a leading biotech venture capital firm. With the goal of doing well by doing good, we have been building breakthrough biotech startups for over 25 years. We work side by side with exceptional scientists and entrepreneurs to translate high impact science into medicines for patients. Our seed-led venture creation strategy rigorously selects and focuses investment on the most compelling opportunities to build scalable businesses and realize value. For more information, please visit www.atlasventure.com.
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Senior Director of Investor Relations and Marketing
Source: Atlas Venture
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