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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