AstraZeneca, Bayer and Nestlé have entered Flagship Ventures’ ranks. The three big-shots will share their know how to support Flagship’s VentureLabs, its start-up incubator. Yet another victory for the American leading VC company that recently banked €478M.
On March 26th, Flagship Ventures established its own personal record, putting together €478M in new funds. As Noubar Afeyan, Flagship’s CEO, stated, the fund closed with nearly twice the expected amount of capital, all in a record time. The VC company aimed at investing the cash in its start-up incubator. However, VentureLabs does not live on money alone, so Flagship has recruited 3 big-named firms to strengthen its innovation factory: AstraZeneca, Bayer and Nestlé. Through separate partnerships, the trio will work with Flagship, sharing its knowledge of market needs and research frontiers.
And what do they obtain in exchange? Just the opportunity to have a closer look at what Flagship is cooking in its start-up bakery.
This is yet another symptom of Flagship Ventures’ ingenuity.