Thursday, November 6, 2008

Report: Atlas Venture aims for new $500M fund

By Mass High Tech Staff

Waltham-based venture capital firm Atlas Venture plans to raise $500 million for its eighth new fund, according to published reports. In 2006, the VC firm raised $385 million in its seventh fund, according to online reports

The early-stage investment firm focuses on life sciences companies in the U.S. and Europe, reported VentureWire and PE Hub. Founded in 1980, Atlas Venture, which manages more than $2.5 billion in capital, operates offices in Waltham, London, Munich and Paris. During the past decade, 44 portfolio companies funded by Atlas Venture have been acquired and 47 are now public companies with an aggregate market capitalization of more than $15 billion.

During 2007, Atlas Venture topped the list of the most active investors in New England, according to Dow Jones VentureSource. Among the company’s investments are Boston-based pharmaceutical company Zafgen Inc., Cambridge biotech Stromedix Inc. and Burlington security testing company Veracode Inc.

Last month, the firm led a $14 million Series B round of investment in Paris-based Inspirational Stores, a service provider for high-end and niche brands operating online, according to Inspirational Stores.