ARCH Venture Partners Raises $3B for 13th Fund to Support AI Biotech Companies
ARCH Venture Partners announced the closing of ARCH Venture Fund XIII, a venture capital fund with more than $3 billion to support the founding and growth of early-stage biotech companies working with AI and data-driven insights. Fund XIII follows the nearly $2.98 billion Fund XII announced in June 2022.
“After more than 38 years, the ARCH investment philosophy has been consistent: we bet on great science and great teams to build breakthrough companies,” said Robert Nelsen, ARCH co-founder and managing director. “We believe AI and new data-driven insights into biology will help to enable a more preventive, curative and equitable healthcare system.”
ARCH founds and invests in early-stage companies that prevent, detect and cure disease. Fund XIII investments to date include ArsenalBio, Metsera, Mirador Therapeutics and Xaira Therapeutics.
The life science industry has seen a flurry of venture capital fundraising this year. Bain Capital Life Sciences raised about $3 billion for its fourth fund earlier this month. Flagship Pioneering raised $3.6 billion in July to fund an estimated 25 firms. This year has also seen Foresite Capital closed its sixth fund with $900 million in June, Sands Capital secure $555 million for its third Pulse fund in May, and Ori Capital, a Hong Kong- and Natick, MA-based life sciences venture capital firm, hold the final close of its second fund, ORI Fund II, at $260 million.
