About This Fund
Atlas Venture Fund XIV is a $450 million early-stage venture capital fund closed in December 2024 — the fourteenth in Atlas Venture's flagship biotech series and the firm's second oversubscribed fundraise in a row. Raised at the same size as its predecessor Fund XIII (2022), the consistent fund size reflects Atlas's deliberate 'VC math problem' thesis: early-stage biotech returns degrade with fund size, and a disciplined cap is a competitive advantage. Atlas Venture is based in Cambridge, Massachusetts, and manages approximately $3 billion across all vehicles.
Fund XIV employs Atlas's distinctive seed-led venture creation model, in which the firm co-founds or incubates portfolio companies alongside scientific founders rather than receiving outside pitches. The fund invests at the seed and Series A stages across all major disease areas, treatment modalities, and business models — tracking breakthrough biology wherever it emerges from academic institutions globally, then building companies around it from Cambridge. Investing partners are Kevin Bitterman, Bruce Booth, Michael Gladstone, David Grayzel, and Jason Rhodes. The fund operates alongside Atlas Venture Opportunity Fund III ($400M, closed September 2025), which provides follow-on capital to maturing portfolio companies.
Since Fund XIII closed in March 2022, Atlas generated a string of exits: four acquisitions (Nimbus/Tyk2 program, Versanis Bio, Aiolos Bio, Mariana Oncology), four IPOs (Disc Medicine, Korro Bio, Q32 Bio, Third Harmonic Bio), and an FDA approval (Day One Biopharmaceuticals Ojemda for pediatric low-grade glioma). Across its lifetime, Atlas has launched 92 biotech startups, achieved 43 IPOs, completed 39 M&A exits, and contributed to the development of over 30 approved medicines.