With $3B fund, Arch seeks long-term alignment with LPs, start-ups

Arch will invest nearly $3 billion from its twelfth venture fund to build ambitious biotech start-ups, continuing a decades-long strategy of creating companies that intend to make broad and deep impacts on science and medicine.

The firm announced its $2.975 billion Fund XII less than 18 months after its $1.9 billion predecessor, from which Arch Venture Partners has made several large commitments to companies built from scratch...