Flagship, ARCH Close VC Funds Totaling $2.56bn
Flagship Pioneering raised $1.1bn to fund life science companies emerging from Flagship Labs. ARCH, another frequent start-up co-founder, raised two funds totaling $1.46bn to back early-stage biotech.
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Managing partner Corey Goodman said venBio didn’t have trouble closing its fund, because the venture capital firm prepared its investors for an economic downturn months ago.