CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Atlas Venture a leading early stage venture capital and venture creation firm investing in biotech innovation, today announced the closing of its second Opportunity Fund, raising $300 million in an oversubscribed fundraise. Atlas Venture Opportunity Fund II (AVOF II), will enable Atlas to continue its model of supporting its portfolio companies as they raise subsequent financings and advance therapeutic programs.

“Since raising our first Opportunity Fund we have expanded our investments in maturing companies that we’ve built from the ground up,” said Atlas partner David Grayzel. “We are delighted to receive support from both our longstanding LP base and new investors in AVOF II, for our mission of building and scaling biotech companies that can bring novel medicines to patients.”

Atlas Venture works alongside its group of experienced entrepreneurs-in-residence and venture partners to create new biotech companies based on innovative insights from the global scientific community and the team’s entrepreneurial networks. Atlas builds companies in a bespoke fashion, following the science to identify the optimal business model and company strategy. The firm incubates many of its portfolio companies in its new, larger Kendall Square space. Atlas Venture’s opportunity funds seamlessly integrate with its early stage company formation-focused funds, enabling the team to pair ongoing strategic involvement with expanded financial investment in later stage private and public financings.

Atlas Venture has a long history of building biotechnology companies spanning more than two decades. In addition to David Grayzel, the team of six investing partners which will invest AVOF II includes: Kevin Bitterman, Bruce Booth, Jean-François Formela, Michael Gladstone, and Jason Rhodes.

About Atlas Venture

Atlas Venture is a leading biotech venture capital and venture creation firm. With the goal of doing well by doing good, we have been building breakthrough biotech startups since 1993. 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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