Atlas Venture

Last updated
Atlas Venture
Company type Private
Industry Venture Capital
Founded1980
FounderMichiel de Haan [1]
Headquarters Cambridge, Massachusetts, U.S.
Key people
Kevin Bitterman
Bruce Booth
Jean-Francois Formela
Michael Gladstone
David Grayzel
Jason Rhodes [2]
Products venture capital funds
AUM $2.2 billion
Number of employees
29
Website www.atlasventure.com

Atlas Venture is an early-stage venture capital firm that creates and invests in biotechnology startup companies in the U.S. Atlas is headquartered in Cambridge, Massachusetts, where the majority of its investments are located. [3] Atlas raised its thirteenth fund totaling $450 million in March 2022, [4] after raising its Opportunity Fund II totaling $300 million in September 2021. [5]

History

Originally formed in 1980 in Amsterdam as a subsidiary of NMB Bank, now part of ING Group, Atlas historically invested in both life sciences and information technology startup companies. In October 2014, Atlas announced its shift to a biotech-only venture capital firm, with the technology-focused investment team forming a new firm, Accomplice, to continue investing in information technology startups. [6] [7] Previously as a diversified firm, Atlas had raised over $3.0 billion of investor commitments across nine venture capital funds. The firm raised $705 million for its 2000-vintage fifth fund, $600 million for its 2001-vintage sixth fund, $385 million for its 2006-vintage seventh fund, $283 million for its 2009-vintage eighth fund, and $265 million for its 2013-vintage ninth fund. [8] [9] At its largest, the firm held European offices in London, Paris and Munich, [10] and a West Coast office based in Seattle, Washington, in addition to the Boston-area headquarters. Today, the firm operates from a single office in Cambridge, Massachusetts. [11] [12]

In 2015 Atlas raised its first biotech-dedicated fund, Fund X, at $280 million. In 2017, Atlas Venture announced it had raised Fund XI at $350 million in capital to invest in early stage biotech companies in the U.S. and around the world. [13] In January 2019, Atlas Venture announced its Opportunity Fund I raised $250 million. [14] In June 2020, Atlas Venture announced its Fund XII raised $400 million. [15]

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References

  1. ↑ "Atlas History - Atlas Venture". Atlas Venture. Retrieved 2017-10-25.
  2. ↑ "Atlas Team - Atlas Venture". Atlas Venture. Retrieved 2016-03-15.
  3. ↑ Exclusive: Atlas Venture is splitting up. Fortune, October 2, 2014
  4. ↑ Atlas Venture Announces $450 Million Fund XIII.
  5. ↑ "Atlas Venture Announces $300 Million Second Opportunity Fund" (Press release). October 1, 2021.
  6. ↑ "Atlas Venture: The Next Chapter - LifeSciVC". Life Sci VC. October 2, 2014.
  7. ↑ Huang, Gregory T. (June 29, 2015). "FKA Atlas Has a New Name: Accomplice". Xconomy.
  8. ↑ Atlas Venture Closes New Fund with $283M, Does the Staffing Shuffle. XConomy, January 2009
  9. ↑ Atlas Venture aims for new $500M fund Archived 2012-10-04 at the Wayback Machine . Mass High Tech, November 6, 2008
  10. ↑ Changes in the Atlas Venture partnership. Fortune, April 8, 2014
  11. ↑ Atlas Venture ups sticks to Boston. Tech Crunch Europe, January 19, 2010
  12. ↑ Atlas Brings Its European Ops Back to Boston. New York Times DealBook, January 20, 2010
  13. ↑ "Atlas Venture Unveils New $350M Fund for Seed Biotech Investments | Xconomy". Xconomy. 2017-06-29. Retrieved 2017-07-26.
  14. ↑ "As market shifts, Atlas Venture closes a $250 million fund to support its breakaway biotech bets". TechCrunch. 2 January 2019. Retrieved 2019-01-03.
  15. ↑ de Crescenzo, Sara (June 5, 2020), Atlas Venture Raises $400M Fund to Seed Another New Set of Biotechs, Xconomy, retrieved March 17, 2021


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