The venture partners are targeting $250m.
Arch Venture Partners have announced their eighth fund, for which they are aiming to raise a total of $250m. This would take the firms total funds managed to $1.75bn.
On top of being lower than its previous fund, this also marks the first time that the firm hasn’t increased its fund, as thus far they had become progressively larger, from $9m in 1989 to $400m in 2007. Indeed, this is the lowest fund since its fourth, the 1999 fund worth $175m.
Originally a spin-out from Chicago University, Arch was originally formed in 1986 as a non-profit affiliate corporation called Arch Development. Its aim was to commercialise technologies developed at Argonne National Laboratory and the university. It then changed course three years later when it raised its first venture fund and became Arch Venture Partners.
Since becoming a venture capital firm, the firm has opened offices in Austin, Chicago, Seattle, San Francisco and Dublin, and focuses on life sciences, physical sciences, information technology and convergence technology. It has so far invested in over 150 early-stage companies.
The firm retains all its four founding investors as part of its current eight managing directors.
