Billion-dollar funds from Arch, Flagship show VCs are open for business

Two of biotech’s most prominent company builders, Arch Venture Partners and Flagship Pioneering, unveiled new funds that raised nearly $2.6 billion in total, showing the sector can attract substantial capital even in the midst of a global pandemic.

Arch said it raised $1.5 billion for its Arch Venture Fund X and Arch Venture Fund X Overage; Managing Director Bob Nelsen told BioCentury the capital is split equally between the two...