CAMBRIDGE, Mass.– Atlas Venture, a leading early-stage venture capital firm focused on biotech innovation, announced the close of its third Opportunity Fund, raising $400 million in an oversubscribed round. The new fund will provide growth capital to Atlas-backed biotech companies as they advance therapeutic programs and pursue subsequent financings. The raise follows Atlas’ $450 million Fund XIV, its most recent early-stage fund, which closed in December 2024.
“We’ve been encouraged by the incredible progress made across our portfolio, despite the array of challenges faced by biotechs in the current environment,” the Atlas partnership said in a statement. “We are thrilled to be in a position to invest Opportunity Fund III into this exceptional cohort of companies. Opportunity Fund III reinforces our commitment to raising funds tailored in size and strategy to our bespoke investment approach.”
Atlas Venture operates a two-fund model, pairing early-stage vehicles with dedicated growth capital. Its early-stage funds typically seed and launch new biotech companies in collaboration with entrepreneurs-in-residence, while its opportunity funds support later-stage private and public financings of existing portfolio companies. With Opportunity Fund III, Atlas will continue its strategy of investing in breakthrough therapeutics, leveraging its team’s expertise across both early and growth-stage biotech.
The general partners of Opportunity Fund III include Kevin Bitterman, Bruce Booth, Michael Gladstone, and Jason Rhodes. Longtime partners Jean-François Formela and David Grayzel continue to contribute their experience across the firm. Atlas Venture, which has been building biotechnology companies for more than three decades, said the new fund strengthens its ability to support transformative innovation for patients worldwide.
