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Laxman Pai, Opalesque Asia: Amid a downturn in biotech investments, Chicago, IL-based venture capital firm ARCH Venture Partners raised $2.975 billion to invest in biotech startups.
The 12th flagship fund, ARCH Venture Fund XII, is the largest to date for the 35-year-old, which provides seed / early-stage venture capital for technology firms in information technology, life sciences, and physical sciences.
This new fund follows the January 2021 announcement of the $1.941 Billion ARCH Venture Fund XI, said a press release from the VC firm.
"All the fundamental innovations in biotechnology are accelerating, with huge promise for new preventive, disease-modifying, and even curative treatments. Science doesn't care what markets are doing, and science moves forward. With over 35 years of venture experience, ARCH has been creating and consolidating companies for the long term. We would like to thank our limited partners for supporting our twelfth fund," said ARCH Co-founder and Managing Director Robert Nelsen.
ARCH investments made from Fund XII will reflect the firm's focus on companies formed around breakthrough technologies. This means investing in early-stage biotechnology companies with the potential to solve some of the biggest health challenges in areas including infectious disease, mental health, immunology, oncology, neurology, age-related diseases, manufacturing, clinical trials, genomic and biological tools, data sciences, and ways to...................... To view our full article Click here
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