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Third Rock Thinks Its Model Reassures Investors In Difficult Times

Venture Firm Raised $1.1bn Fund VI, Its Largest Yet

 
• By Joseph Haas

New fund will include some later-stage investments in portfolio companies, in recognition of the currently tough environment for privately held biotechs.

Venture Capital Concept on the Mechanism of Metal Gears.
Third Rock Ventures raises $1.1bn sixth fund • Source: Shutterstock

Market turmoil and declining valuations in biotech are not deterring Third Rock Ventures from doing what it has done since 2007: raising funds of increasing size to back new biotechs that it incubates internally. Partner Abbie Celniker explained to Scrip that the venture capital firm’s long-term planning, and having long-term investors, makes it less susceptible to market conditions.

On 15 June, the Boston-based venture capital firm announced it has raised $1

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