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. The VC is definitely one of the companies that have benefited the most from the Biotech bubble, as its return of investments shows. As they say, the proof is in the pudding: Acceleron Pharma, Seres Health and Moderna Therapeutics are some of the winning companies launched by VentureLabs. The fact that these three big guys are willing to share their expertise with Flagship, with no promise of any deal, shows how high Flagship’s vision is valuated. According to Noubar Afeyan, the three partners will just have an “awareness advantage”. A small reward in exchange of the three companies’ know-how. Anyway, if those great-named brands think Flagship is worthwhile, then it must be the case.
If you missed it, we interviewed this talented company in our Labiotech Boston Tour: