$1.9B fund gives Arch flexibility for more megarounds

Arch’s $1.9 billion Fund XI will afford the firm even more capital to place big bets on biotechs that the firm believes will be scientifically transformative, rather than driving incremental progress.

In recent years, Arch Venture Partners has participated in nine-digit rounds for several biotechs, including neurodegeneration company Denali Therapeutics Inc. (NASDAQ:DNLI); CAR T play Juno Therapeutics Inc., acquired by Celgene Corp.; infectious disease company Vir Biotechnology Inc. (NASDAQ:VIR); early cancer detection company Grail Inc., acquired by Illumina Inc. (NASDAQ:ILMN); and gene and cell therapy company Sana Biotechnology Inc...