Venture Report: With more company creation on tap, Flagship raises $3.6B

Flagship Pioneering continued to set the bar for raising capital to support company creation after announcing on Wednesday that it raised $3.6 billion in new capital: $2.6 billion for Fund VIII, plus an additional $1 billion for sector-specific “side funds.” Flagship raised $3.4 billion for its Fund VII in 2021, bringing the total raised for its capital pool to $10.9 billion, with $14 billion in assets under management.

The firm said Fund VIII will target the creation and development of about 25 newcos in human health, sustainability and artificial intelligence. ...