Bob Nelsen (Michael Kovac/Getty Images)

ARCH an­nounces largest fund yet, rais­ing $1.85B to back men­tal health, cell and gene edit­ing ap­proach­es

Near­ly a year ago, as the pan­dem­ic en­croached and the stock mar­ket cratered, Flag­ship and ARCH Ven­ture an­nounced three mega-funds worth a com­bined $2.6 bil­lion. They want­ed, ARCH’s Bob Nelsen said, to re­store con­fi­dence “that there was mon­ey out there and a lot of it” to in­vest in biotech.

Since then, the stock mar­ket has re­turned — al­most fright­en­ing­ly so — and Nelsen has kept rais­ing and spend­ing cash. On Thurs­day, he an­nounced a new fund, worth $1.85 bil­lion. It’s the largest pot yet for a VC fa­mous for its deep pock­ets.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.