Flagship Ventures Closes Fifth VC Fund, at $537M

Flagship Ventures, a Cambridge, MA-based venture capital and venture creation firm focused on innovations in healthcare and sustainability, closed its fifth fund at $537m.

Flagship Ventures Fund V, which brought aggregate funds under management to $1.4 billion, will continue the firm’s strategy of venture creation through VentureLabs, its innovation foundry, and early-stage venture investing in therapeutics, health technologies and sustainability – specifically in the energy, water, and agriculture/nutrition sectors.

Led by Dr. Noubar Afeyan, senior managing partner and chief executive officer, the firm originates and launches its own startups through VentureLabs and funds companies based on breakthrough science and technology originating outside through Flagship Ventures.

Its $269m previous fund, Fund IV, was raised in 2010, having eight initial public offerings, including Receptos (RCPT), Agios Pharmaceuticals (AGIO), Tetraphase Pharmaceuticals (TTPH) and Acceleron Pharma (XLRN).

In addition to launch the fund, the firm announced that Douglas Cole, M.D., has been promoted to managing partner and David Berry, M.D. Ph.D., has been promoted to general partner.



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