ARTICLE | Finance
Venture report: Liquidity coming for Boundless’ syndicate; plus Avenzo’s $150M round
As VC-backed start-ups continue to watch and wait for their IPO window, a large syndicate backs an oncology start-up with aspirations to go public
March 28, 2024 11:56 PM UTC
Though it was a relatively quiet week for private biotech investments, VCs surely had their eyes on Boundless’ IPO, giving a syndicate a chance to reap returns from their investments in the newly public company. Meanwhile, investors in Avenzo’s nine-digit round may also be scouting the public markets.
The listing by Boundless Bio Inc. (NASDAQ:BOLD) provides a path to liquidity for shareholders led by Arch Venture Partners, Fidelity and RA Capital Management, each of which held more than 10% before the listing. After pricing at the middle of the proposed range to raise $100 million late Thursday, Boundless shares shed 11% to $14.25 on Friday. The offering was not upsized...