ARCH Venture Partners’s eighth venture fund has closed with more than USD400 million in subscriptions.
ARCH Venture Fund VIII exceeded its USD250 million subscription target by more than USD150 million.
"The enthusiasm behind Fund VIII shows the strength and potential of our approach to finding and funding new platform technology companies that can transform their industries through disruptive innovation," says ARCH co-founder and managing director Robert Nelsen.
ARCH will deploy this fund exclusively in early-stage technologies that can fundamentally change the healthcare, energy, and materials sectors. ARCH's search for disruptive technologies is global, with technology sourcing or investment primarily in the US but also in countries where the company has extensive scientific and business relationships, including Canada, Ireland, Iceland, South Korea, China and Japan.
In the past 24 months, portfolio companies in ARCH funds have had nine public offerings and six M&A events, including four of the most oversubscribed biotech IPOs in decades, Agios Pharmaceuticals, Bluebird Bio, Receptos and Kythera Biopharmaceuticals. Additional exits include Ikaria, Ahura Scientific, deCODE Genetics, Sage Therapeutics, Fate Therapeutics, BIND Therapeutics, Crystal IS, and Achaogen.
The next generation of promising companies includes Juno Therapeutics, Siluria Technologies, 908 Devices, VentiRx Pharmaceuticals, AgBiome, Xtera Communications, and Twist Biosciences.
"ARCH has a unique global view on innovation with an excellent network of the best scientific talent, leadership teams, analysts and industry connections that allows us to both originate companies and groom them for success," says Keith Crandell, co-founder and managing director.