ARCH Venture Partners (ARCH) is an American venture capital firm based in Chicago. The firm mainly invests in companies from the biotechnology industry but has also invested other industries such as semiconductors and technology.
 | |
| ARCH Venture Partners | |
| Company type | Private |
| Industry | Venture Capital |
| Founded | 1986 |
| Founders |
|
| Headquarters | Chicago, Illinois, U.S. |
| Products | Investments |
| AUM | US$9 billion (2022) |
| Website | archventure |
| Footnotes / references [1][2] | |
Background
editIn 1986, the ARCH Development Corporation was initially created by the University of Chicago and the Argonne National Laboratory as a non-profit initiative to commercialize the technology developed by them.[3][4][5][6][7][8] The name ARCH reflects this origin with "AR" from Argonne and "CH" from the University of Chicago.[7] ARCH Development Corporation was led by Steven Lazarus who was Deputy Dean of University of Chicago Booth School of Business.[6][7][9] Lazarus noted that spin-off company plans were hindered by lack of external capital, so a venture fund would be created to provide it.[7][9][10]
In 1989, the University of Chicago and Argonne National Laboratory provided around $9 million in capital for ARCH Development Corporation's first fund, ARCH Venture Fund Limited Partnership.[3][7][8][9] It was believed to be first venture capital fund to be established between a major U.S. laboratory and university and the first to be fully pledged by a group of investors.[9] The first fund invested in twelve companies with 7-8 of them being successful investments.[6][7]
After the success of the first fund, the university stated it no longer considered ARCH Development Corporation as an experiment and wasn't comfortable continuing as general partner of a venture fund so it proposed that ARCH Development Corporation would focus on licensing and business development of technologies while capital raising will be done outside the university .[6][8] In 1992, Lazarus along with Booth Graduate students, Clint Bybee, Keith Crandell and Bob Nelsen left the university to set up ARCH Venture Partners as an independent firm to raise capital.[6][7][8]
The firm mainly invests in companies that are in the biotechnology, semiconductors and computing fields.[2][3][4][5]
ARCH Venture Partners is headquartered in Chicago with additional offices in Seattle, San Francisco and Dublin.[11]
On June 10, 2018, Lazarus passed away and the firm's management was succeeded by the other co-founders.[12]
Funds
edit| Fund[13] | Vintage Year | Committed Capital ($m) |
|---|---|---|
| ARCH Venture Fund I | 1989 | USD 9 |
| ARCH Venture Fund II | 1993 | USD 31 |
| ARCH Venture Fund III | 1996 | USD 107 |
| ARCH Venture Fund IV | 1999 | USD 175 |
| ARCH Venture Fund V | 2001 | USD 380 |
| ARCH Venture Fund VI | 2004 | USD 350 |
| ARCH Venture Fund VII | 2007 | USD 400 |
| ARCH Venture Fund VIII | 2014 | USD 560 |
| ARCH Venture Fund IX | 2016 | USD 1,100 |
| ARCH Venture Fund X | 2020 | USD 1,460 |
| ARCH Venture Fund XI[14] | 2021 | USD 1,941 |
| ARCH Venture Fund XII[3][14] | 2022 | USD 2,975 |
See also
edit
References
edit- ^ "Form ADV" (PDF). SEC. Retrieved December 24, 2022.
- ^ a b "American VC firm Arch launches $3bn biomedical fund with eye on Japan - Nikkei Asia". June 13, 2022. Archived from the original on June 13, 2022.
- ^ a b c d "ARCH Venture Partners: Stay in School - | Venture Capital Journal". June 21, 2021. Archived from the original on June 21, 2021. Retrieved December 24, 2022.
- ^ a b "ARCH raises $350M fund". www.bizjournals.com. March 11, 2004. Retrieved December 24, 2022.
- ^ a b "Biotech investor raises $3 billion in new fund". Crain's Chicago Business. June 29, 2022. Retrieved December 24, 2022.
- ^ a b c d e "Done Deals - Venture Capitalists Tell Their Stories - Lazarus". HBS Working Knowledge. Retrieved December 24, 2022.
- ^ a b c d e f g "Interview with David Cruikshank | UNC Innovation & Entrepreneurship | Innovate Carolina". innovate.unc.edu. November 15, 2019. Retrieved December 24, 2022.
- ^ a b c d Sciences (US), National Academy of; Roundtable, National Academy of Engineering (US) and Institute of Medicine (US) Government-University-Industry Research (1999). Presentation by Teri Willey Vice-President, ARCH Development Corporation at the Workshop on Overcoming Barriers to Collaborative Research March 23–24, 1998. National Academies Press (US).
- ^ a b c d "U. OF C., LAB FORM VENTURE CAPITAL FUND". Chicago Tribune. February 13, 1989. Retrieved December 24, 2022.
- ^ "University Fund to Turn Inventions Into Products". Arlington Heights Daily Herald. Associated Press. February 15, 1989. p. Section 4, page 2.
- ^ "Contact". ARCH Venture Partners. Retrieved December 24, 2022.
- ^ "STEVEN LAZARUS Obituary (1931 - 2018) - Chicago, IL - The Washington Post". Legacy.com. Retrieved January 2, 2023.
- ^ "ARCH Venture | Palico". www.palico.com. Retrieved December 24, 2022.
- ^ a b "Proskauer Advises ARCH Venture Partners in Closing of $2.975 Billion Fund XII - Insights - Proskauer Rose LLP". Proskauer. Retrieved December 24, 2022.