VC News | ARCH Venture Partners closes Fund XIII at more than $3 billion
Southwest Michigan has its first Black-owned investment fund.
From Chicago, IL:
ARCH Venture Partners has announced the closing of ARCH Venture Fund XIII, a venture capital fund with more than $3 billion to support the founding and growth of early stage biotechnology companies.
“After more than 38 years, the ARCH investment philosophy has been consistent: we bet on great science and great teams to build breakthrough companies. We believe AI and new data-driven insights into biology will help to enable a more preventive, curative and equitable healthcare system. ARCH intends to continue driving the healthcare revolution,” said ARCH Co-Founder and Managing Director Robert Nelsen.
ARCH founds and invests in early stage companies that prevent, detect and cure disease. Fund XIII investments to date include ArsenalBio, Metsera, Mirador Therapeutics and Xaira Therapeutics.
“ARCH is first and foremost a company builder; we foster innovation at scale to develop new technologies and medicines as rapidly as possible,” said ARCH Managing Director Kristina Burow. “We are well-positioned to continue catalyzing the next revolutions in healthcare to benefit those who matter most: patients.”
“ARCH has a long history of identifying the top forward-looking trends in life sciences R&D and the individuals driving truly breakthrough scientific hypotheses,” said ARCH Co-Founder and Managing Director Keith Crandell. “We remain incredibly excited by the pace of innovation and efforts to understand disease at a deeper level.”
Fund XIII follows the $2.975 billion Fund XII announced in June 2022.
From Kalamazoo, MI:
Enterprising entrepreneurs, innovative creators, and overlooked small business operators have a new source of venture capital, Southwest Michigan’s first Black-owned investment fund.
The new $50 million Kalamazoo Forward Ventures was launched by a group of professionals who have established themselves in real estate development, finance, business management, area government, and technology.
“Kalamazoo Forward Ventures (KZFV) is a fund that will be investing in under-represented business founders, driven innovators, and unique start-ups,” says Jamauri Bogan, a General Partner in KZFV and Chief Executive Officer of Bogan Developments.
The fund plans to invest in three focus areas:
- Venture Capital — making investments in technology and high-growth start-up companies;
- Real Estate — providing funding to lead residential and mixed-use property development projects; and
- Mainstreet Projects — providing capital and connections to support the economic vitality and growth of mainstreet businesses.
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