Finance Watch: Flagship Raises $824m To Speed Growth Of Its Portfolio Companies

Private Company Edition: The VC firm and start-up factory Flagship Pioneering brings in new cash for existing investments, tapping into investors eager to back "big, bold platform ideas" in the life sciences. Also, new financings include $100m-plus deals for Harmony and Beam.

Flagship Pioneering Founder and CEO Noubar Afeyan told Scrip earlier this year that private capital investors' interest in backing "big, bold platform ideas" in the life sciences is increasing, and that proved true recently when Flagship announced that it's raised an additional $824m to accelerate the growth of its portfolio companies.

Afeyan's comments in an interview during the J.P. Morgan Healthcare Conference in January foreshadowed Flagship's March 20 announcement about its new growth capital fund (see sidebar)

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