Flag­ship adds $618M in new funds to fu­el start­up mis­sion

More mon­ey is stream­ing in­to the cof­fers of Flag­ship Pi­o­neer­ing, one of the most promi­nent blank-slate ven­ture funds in biotech. The VC group has closed $618 mil­lion in new funds, which is the biggest chunk of mon­ey it’s se­cured in al­most two decades.

The cash comes from both ex­ist­ing in­vestors and new ones fol­low­ing Flag­ship’s pro­duc­tive year. In 2017, the ven­ture group and its in­cu­ba­tor Ven­ture­Labs spun out six new com­pa­nies, its port­fo­lio star­tups raised $835 mil­lion in eq­ui­ty fi­nanc­ing, and saw two IPOs: De­nali Ther­a­peu­tics $DNLI and Quan­ter­ix $QTRX. These bring Flag­ship’s to­tal IPOs to 14 in four years.

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