VC Flagship Pioneering raises $3.6 billion in new funds

Flagship Pioneering, one of the largest firms investing in and creating new biotech companies, said Wednesday that it has raised $3.6 billion in new funding.

The Cambridge, Mass.-based organization raised $2.6 billion for Flagship Pioneering Fund VIII, as well as $1 billion for what it described as side funds and sector-specific strategic partnerships. Flagship did not immediately respond to questions about the side funds.

Flagship had originally set a $3 billion cap for its latest fundraising, according to an SEC filing. Its last fundraising in 2021 yielded $3.4 billion.

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