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Flagship outlines plans to raise $3B for new fund

November 30, 2023


Flagship Pioneering is looking to raise $3 billion for its eighth venture fund, a sign the high-profile company creator continues to see investor interest in the biotechnology sector despite a turbulent market.

The plans were outlined in a securities document signed by Flagship’s chief financial officer Charles Carelli and filed with federal regulators Wednesday. Boston Business Journal earlier reported the news.

Based in Cambridge, Massachusetts, Flagship has launched a number of biotech startups this year, including Empress Therapeutics, Metaphore Biotechnologies and, most recently, Quotient Therapeutics. It closed its Fund VII in 2021, bringing in a little more than $3.3 billion for life sciences investing.

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