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Atlas Venture, a Cambridge, MA-based venture capital firm that focuses on early stage tech and biotech companies, has raised a new $265 million fund after several years of reinventing itself into a leaner, more nimble operation. The news comes on the heels of Boston-area VC firms closing new funds—$650 million for Battery Ventures, $516 million for Third Rock Ventures, and $450 million for Spark Capital—even as the broader VC sector continues to contract around a smaller number of players. Atlas partner Jeff Fagnan, in an interview with Fortune, says a major part of Atlas’ change in focus came from zeroing in on Boston-area startups (along with a few bets in the San Francisco Bay Area, of course). Fortune was the first to report the news.
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