Prominent biotech VC firm Atlas Venture has another $400 million to invest in drug companies, it told STAT exclusively. But this time, the new funds are reserved for the startups that are already in its portfolio.
The Cambridge, Mass., firm raised the money for what’s known as an opportunity fund. These funds are focused on promising companies that a VC firm has already invested in, allowing it to boost its ownership of a company and, hopefully, double down on any potential returns.
This is the third time Atlas has raised an opportunity fund. It last raised $300 million for one in 2021.
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