Atlas Venture raises $250m

The Cambridge, MA-based venture capital firm closed its first Opportunity fund.

Atlas Venture announced the closing of Atlas Venture Opportunity Fund I at $250 million. AVOF I was oversubscribed and is set to invest in biotech innovation companies within the Atlas portfolio.

The fund will focus on investing in high-potential startups as they advance beyond through their growth stage through Series B financing.

The firm is committed to developing novel medicines and therapeutics for patients in need. The fund will be led by partners: Kevin Bitterman, Bruce Booth, Jean-François Formela, David Grayzel and Jason Rhodes.