Arch Venture Partners raises more than $400m for latest fund


chicagoooChicago-based venture capital firm Arch Venture Partners has closed its eighth fund on more than $400m, easily beating its $250m target.

The new fund is of a similar size as the firm’s previous vehicle closed on $400m in 2007.

Fund VIII will be exclusively focused on early-stage technologies in the healthcare, energy, and materials sectors.

It will invest in businesses in the US as well as in countries where it has extensive scientific and business relationships, including Canada, Ireland, Iceland, South Korea, China, and Japan.

Over the past two years, the firm’s portfolio companies have had nine IPOs and six M&A exits.

Arch’s current portfolio companies include biopharmaceutical startup Sage Therapeutics, which raised $20m in a round backed by the firm last October.

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