ARCH Venture Partners Raises $3 B for Biotech Startups
June 29, 2022
Amid a downturn in biotech investments, ARCH Venture Partners raised $3 billion to invest in biotech startups. The funding, which ARCH has not yet specified where it will go, is 50% bigger than its funding round last January. The current market for new biotechs is not favorable, to say the least, with deals, M&A, and deals on the decline in Q1 2022.
According to Max Bayer, “Even though the market downturn began in early February 2021, venture capital, operating on a delay, continued to skyrocket. 2021 ended up being a record-setting year for fundraising, with private companies eclipsing 2020’s record by 26% with $28.5 billion recorded. ARCH played a significant role in that haul.”
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(Source: June 29th, 2022, Fierce Biotech)